The economic and financial crisis from 2008 to 2009, also known as the global financial crisis, was considered to be the worst financial crisis since the Great Depression. The general situation of financial markets has been additionally complicated by the introduction of new financial products as well as other modes of operations including globalization. The global financial market seems to be playing a different function in our economy and it has been working because of new regulations. The introduction of new trade platforms, online access to information, integration and globalization of the market have caused some revisions of finance theories. What are reliable predictors of economic and financial crises? Are we still in danger of economic and financial crises today?