Few questions of the credit crunch: Past, present, and future (UK)

[jp_2031]

Hi, i was wondering if anyone could answer the following questions, as I would like to learn more about the credit crunch.
Firstly, Before the credit crunch happened, was there and policies or organisations in place that existed to stop financial downfall like this?

What actually caused the credit crunch? The lack of policies, the failure of these policies, or was it inevitable to happen anyway.

Once the credit crunch arrived, was their any policies put into place to control the crisis?

What risk management policies have been put in place to prevent this happening again in the future?
Are their any long term effects of the credit crunch on the UK Economy?

Thanks
Jp

[factor-fiction]

Sound like a homework/coursework question. Just do a google search on something like 'credit crunch- causes and lessons'. I found lots of useful articles, papers etc