33: Economic Crises Last updated Jan 4, 2021 Save as PDF 32.3: Equilibrium 33.1: Fundamentals of Banking Crises Page ID4773 BoundlessBoundless ( \newcommand{\kernel}{\mathrm{null}\,}\) Topic hierarchy33.1: Fundamentals of Banking CrisesBanking crises can be caused by inadequate governmental oversight, bank runs, positive feedback loops in the market and contagion.33.2: Economic CrisesBanks, consumers, and the government all contributed to improper borrowing and lending, which in turn created a downward spiraling economy.