The document summarizes the global financial crisis, its causes, and potential implications. It traces the rise of market liberalism and the financial sector from the 1970s, fueling greater financialization. This instability was exposed by the subprime mortgage crisis of 2007-2008. Governments enacted massive bailouts as major banks and insurers collapsed. The crisis may lead to tighter financial regulation and a reduced role for the financial sector. Individuals may face lower investment returns, less access to credit, and eventual tax increases to pay down government deficits from the bailouts.