Information AgeEconomy & Trade Global financial crisis 2008Turning point A housing and banking collapse causes the deepest recession since the 1930s. ▲ MattersSaveShareTrace roots Longest chain: The Big Bang → First stars ignite → Supernovae seed heavy elements → The Sun forms → Earth forms → First oceans → First life → Photosynthesis evolves → Great Oxidation Event → Complex cells (eukaryotes) → Multicellular life → First animals → Cambrian Explosion → First vertebrates → Jawed fish → Fish walk onto land → The amniotic egg → The Great Dying → Dinosaurs appear → Asteroid ends the dinosaurs → Early primates → Apes split from monkeys → Human line splits from chimpanzees → Walking upright → First stone tools → Genus Homo appears → Homo erectus → Control of fire → Habitual fire and cooking → Homo sapiens appears → Complex language → Natufian villages → Oldest known bread → Agriculture begins → Irrigation → Uruk and the first cities → Cylinder seals → Writing (cuneiform) → Babylonian mathematics → Babylonian astronomical diaries → Thales and natural philosophy → Trial and death of Socrates → Plato's Academy → Aristotle's Lyceum → Alexander's conquests → Alexandria founded → Library of Alexandria → House of Wisdom → Al-Khwarizmi and algebra → Fibonacci's Liber Abaci → Bills of exchange → Medici Bank → Double-entry bookkeeping → Muscovy Company → English East India Company → Seven Years' War → American Revolution → Declaration of Independence → French Revolution → Revolutions of 1848 → German unification → World War I → Treaty of Versailles → Great Depression → Global financial crisis Community notesLoading notes… Learn more ranked by votesBookMichael LewisThe Big Short ↗Editor's pickBookAndrew Ross SorkinToo Big to Fail ↗Editor's pickVideoSearch on YouTube2008 financial crisis explained ↗Editor's pick