The 2008 Global Financial Crisis (GFC) was the worst financial crisis since World War II, originating in the United States and spreading worldwide.
Root causes: Subprime mortgages (risky home loans to borrowers with poor credit), complex financial products (MBS and CDS), a real estate bubble (unsustainable housing price increases), and inadequate regulation.
As housing prices fell and defaults surged, MBS values collapsed, causing massive losses at financial institutions worldwide. Lehman Brothers, Bear Stearns, and others were destroyed.
Bangladesh was not directly hit in its financial sector since its markets aren't deeply connected internationally. However, the country felt indirect effects through reduced exports, slower remittance flows, and decreased foreign aid and investment.