as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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describe the causes of the financial crisis in 2008.
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the 2008 financial crisis was caused by a combination of factors, including excessive leverage, volatile housing prices, risky mortgages and inadequate financial regulation. other factors that contributed to the crisis include a global trade imbalance, china's large-scale accumulation of foreign reserves and the u.s. federal reserve's low interest rate policy.
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