Financial companies like banks and
investment firms play a key role in our economy! π¦
They help people save and borrow money. During the GFC, many banks took too many risks, lending money to people who couldn't pay it back! π₯Ί
This caused panic, and many banks began to fail. But after the crisis, banks started to follow stricter rules to ensure they wouldn't fail again. This helped protect people's money! π‘
οΈ Remember, banks need to be watched like a hawk, so they donβt take unnecessary risks with our savings! π¦