Which 2008 crisis was triggered by the collapse of the U.S. housing bubble and subprime mortgage market?

The 2008 crisis triggered by the collapse of the U.S. housing bubble and subprime mortgage market was the global financial crisis.

U.S. lenders issued large numbers of mortgages to borrowers with weak credit, while those loans were bundled into complex securities and distributed through the financial system. When house prices fell and defaults rose, the value of many related assets became uncertain.

The crisis intensified after Lehman Brothers filed for bankruptcy on September 15, 2008. Credit markets froze, stock markets plunged, banks failed or required support, and governments introduced emergency lending, guarantees, and stimulus measures.

The crisis is sometimes called the Great Recession, but those terms are not identical: the financial crisis describes the breakdown in finance, while the Great Recession describes the broad economic downturn that followed.