2008 FINANCIAL CRISIS: A STORY In the early 2000s, Alan Greenspan, the former Chairman of the Board of Governors of the Federal Reserve System sold the “American dream” by lowering interest rates which were never seen before. Everyone can buy a car, a big house thus would drive up consumer consumption and standard of living. Due to a lower barrier of entry, more people started living the American dream, until it came crashing in the midst of 2008. Many things went wrong, and it is hard to comprehend for someone without some esoteric financial concepts. So, let’s try to understand what lead to the global financial crisis, with a story. Welcome to the town of Winesville People of winesville, drink wine (it’s in the name) which gives them the strength to do their work. Yes, just like Popeye and his spinach drink. There is a winesville farm, which has the responsibility to prepare wine for the general public. The wine is made up of some key elements like Mortgagium, Student-Loanciu...