The main cause of 2007-2009 recession was bursting of real estate bubble. But it was the banking crisis which led the U.S. economy to a far worst situation. Now the key question is whether banking industry is able to solve their problems. Losses suffered by banks created a number of fundamental problems in the industry. An article by Michael Sivy, a chartered financial analyst and a former securities analyst for an independent stock research firm, speaks about the needs to be addressed to get financial system back to full strength.
For more information, please go through: http://business.time.com/2013/02/05/has-the-banking-industry-really-been-fixed/