The recession actually beganin Dec. of 2007 and the consensus is the cause was sub prime mortgage lending and the lack of supervision in this area.
But it was all sort of a house of cards. What/who pulled that first card to make it tumble?
There was a good comedy bit about it by two British(?) comedians. Although I think it accurately described the situation.
Talked about how you get black people to buy homes even though they have no credit history. Then you bundle all of those “dodgy debts” into some fund with a good name like “Enhanced Platinum Capital Growth Fund.”
“Oh yes - is that a good fund?”
“No. But the NAME is good! And people love to invest in funds with good names!”
https://www.youtube.com/watch?v=mzJmTCYmo9g
Bird and Fortune
It really is more a critique of the investment culture than a comedy.