>>11698594/biz/fag here
2008 Basically was a domino effect of panic, news and typical market activity following basic, technical analysis of a very clear bearish trend already showing obvious signs in mid-2007 resonant within the SPX500 index. However with news channelling sentiment, MSM. People literally think the news controls price action of markets however it is very late to the party and people who trade directions based on the news lose money for being reactionary rather than thinking about liquidity pools. Thus 2008 crash was already starting BEFORE housing bubble popped. Boomers had enough time to see the signs but were blissfully ignorant (Great Gatsby type of shit)
Pic-related you can literally see a traditional retest and rejection of the previous 2000's Dotcom bubble high indicating an obvious "Double Top"
This is kinda for laymen normies and traders to eat up ^ and understand
Now for math nerds/quants/greeks: During 2007, amidst the mass feeding frenzy of the housing bubble, several loans with insane interest rates were being promoted and taken by new and current homeowners buying up properties in fear of missing out of owning a home. The volatility in markets was considered significantly high for the time yet doesn't scratch the surface to post-2016 levels of Beta.
There's a movie called "Margin Call" that talks about a Jew thats literally fired at the start for no reason and gave the protagonist a USB with an Excel model of formulas he was working on regarding his insight into the market. The Spock guy from star trek is supposedly a Math PHD from an Ivy and takes a look at his file to realize.
He discusses that his formula is kind of shocking and exceeds past volatility at risk in the market. Basically termed the VaR formula. This movie is pretty legit and I remember watching it as a kid without understanding it
https://quantnet.com/threads/margin-call-the-movie-an-explanation-with-more-details-than-those-provided-in-standard-media.36386/ 
