This report provides an in-depth analysis of the Global Financial Crisis (GFC), examining its possible causes such as excessive money creation by banks, speculation in financial markets, and market instability. It explores the argument of whether the GFC could be repeated, considering factors like cryptocurrency and social media stocks. The report also details the impact of the GFC on various countries' economies, including Australia, and discusses actual and proposed reforms implemented in response to the crisis, such as the Financial Services Act and the establishment of regulatory bodies like the Financial Policy Committee, Prudential Regulation Authority, and Financial Conduct Authority. The analysis includes data and examples to support the findings, offering a comprehensive overview of the GFC and its lasting effects.