How are the financial crises of the 1990s and the 2000s similar?

Question

Quizplus · Accepted Answer

Both financial crises were caused by major originators borrowing beyond their capacities, leading to unsustainable debt levels. In the 1990s, countries such as Mexico and Thailand had borrowed heavily and were unable to repay their debt, leading to a financial crisis in those countries and contagion to other regions. Similarly, in 2008, the global financial crisis was caused by excessive borrowing and risky investment practices in the United States, leading to a collapse in the banking sector and global economic recession.

How Are the Financial Crises of the 1990s and the 2000s