Known as the worst modern financial recession, the 2008 housing market crash affected millions of people worldwide causing many hard-working middle-class and lower-class citizens to lose their homes and jobs. With the existence of mortgage-backed securities (MBS) and collective debt obligations (CDO), banks could group up people’s mortgages and sell them in MBS or CDO bonds. The incentive for MBS and CDO was for investors to make money off the interest that the bonds produced and for banks to make money off charging a sales fee to investors. The MBS and CDO markets crashed when banks started…