Given the task definition and input, reply with output. In this task, we ask you to rewrite a sentence in simple English without changing its general meaning. Essentially, you want to make the sentence easier to read by using simpler words, utilizing more straightforward sentence structures, and omitting non-essential information etc.

The financial crisis of 2007 2008 , also known as the global financial crisis and the 2008 financial crisis , was a severe worldwide economic crisis considered by many economists to have been the most serious financial crisis since the Great Depression of the 1930s , to which it is often compared .
The financial crisis of 2007 2008 was a major financial crisis , the worst of its kind since the Great Depression in the 1930s .