The 2008 global financial crisis had a cataclysmic impact on the economy of the United States and the world. The stock markets of countries around the world were pushed into crisis situation and stocks were shorted. Homeowners found themselves out on the streets, while long term employees found themselves in a critical job situation. The effects of the economic crisis took years to be handled and people in the economic system had to find alternate ways to sustain during and after the crises. Now as countries around the world take up initiatives in the form of reforms such as the Basel III regulatory reforms and more for stabilizing their financial systems for the future, it becomes more critical than ever to also understand the financial crisis in a more heightened and human making way. The economic crisis was formed out of a series of bad choices, financial deregulation, less transparency in governance, and a governance system which can even be called greedy because of the lack of adequate financial controls.