What impacts did the 2008 global financial crisis have on developed countries?

The 2008 global financial crisis significantly impacted developed countries by triggering severe recessions, leading to high unemployment rates and a decline in consumer spending. Governments implemented massive bailouts and stimulus packages to stabilize their economies, resulting in increased public debt. Additionally, the crisis exposed vulnerabilities in financial systems and regulatory frameworks, prompting reforms to enhance oversight and prevent future crises. The long-term effects included slower economic growth and heightened skepticism towards financial institutions and government policies.