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The Global Financial Crisis (GFC) was the worst economic crisis since the Great Depression of 1929. While the Great Depression started in the stock market, the GFC began in the housing market. The GFC proved that the failure of one financial institution can lead to a domino effect due to interconnectedness, which microprudential policies at that time failed to account for. This birthed the use of macroprudential supervision and oversight which instead takes a systemwide approach, ultimately changing the way academics, policy makers and regulators view of financial stability and financial regulation.