What were the primary cause(s) of the 2007 global financial crisis? What were the primary cause(s) of the 2007 global financial crisis? What are the key factors or elements that accelerated the financial crisis for both years? what are the similar primary causes for both 2007 and 2008 global financial crisis. The government’s Community Reinvestment Act of 1977? The fraudulent lending community? The minority borrowers?