Category: the proximate origins of the crisis were in the United States (Truman
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ultimately leading to the financial Tsunami. The role of inadequate financial sector supervision and regulation has also to be taken in to consideration for the financial Tsunami.
Irrespective of the causes there are some distinguishing features of the crises that need consideration to discuss the effects and challenges the financial tsunami has created to affect the global economy.
First
there were increased activities in the housing sector not only in the United States but also in many other countries coupled with increased availability of market credit resulting in steep hike in the stock values and other symptoms of unorthodox financial practices