Financial panics and crises happen in different situation and background. People haven't find ways to totally prevent or stop them from happening. But from the research, I think at least we can minimize the possibility of happening.
As many recent crises are caused by sub-prime loans, it is necessary to insist strict principles of the loan approval. Also, the laws or principles should be regulated to adjust to the change of the world situations. Thirdly, governments should strengthen the monitoring to the market and give warnings when necessary. Moreover, private and public sectors should provide sufficient and reliable information in time to raise their transparency.
Although it is the market economy, the healthy financial system still need some macro control from the governments to solve problems and overcome difficulties.
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