Most citizens would agree, for example, that they had little to no control over the deregulation of the finance industry, and subsequent boom in sub-prime mortgage lending and derivatives trading that caused the 2008/09 financial crash.

Source: https://theconversation.com/degrowth-isnt-the-same-as-a-recession-its-an-alternative-to-growing-the-economy-forever-202469

So, I'd characterize the primary driver is just the deterioration in really near-prime has been -- and sub-prime has been just much more accelerated than prime.

Source: https://seekingalpha.com/article/4578400-nerdwallet-inc-nrds-q4-2022-earnings-call-transcript?source=feed_all_articles