3. The Global Financial Crisis (2007-2008)
The collapse of major financial institutions in 2007-2008 unleashed a severe global economic downturn. Millions lost their jobs and homes, while governments imposed austerity measures that fueled public discontent. The crisis not only exposed flaws in the banking system but also gave rise to grassroots movements like Occupy Wall Street. Regulatory reforms sought to prevent future collapses, but the impact on trust in financial and political elites remains significant.
