In this crisis, institutions that bought up buckets of complex mortgage-linked securities found themselves facing huge losses as house prices fell. Their counterparts and clients, fearing the worst, provoked the worst by ceasing to do business with them. Others who wrote insurance against their failures-to-pay (credit default swaps) then lost huge sums as well, fuelling the fires of system-wide panic and default. But better regulation of lending standards and risk management, the argument goes, will prevent such systemic problems in the future.
在本輪危機中，隨著房價下跌，買入大量複雜抵押貸款相關證券的機構發現自己面臨著鉅額損失。它們的對手機構和客戶由於擔心出現最糟糕的情況，停止與其開展業務，反而招致了最糟糕的情況。而那些爲它們無力支付（信用違約互換）承保的其它機構，也就同樣蒙受了鉅額損失，從而進一步加劇了整個體系內的恐慌和違約。不過，有觀點認爲，對貸款標準和風險管理進行更有效的監管，能防止未來出現這樣的系統性問題。
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