Rajan had predicted the 2008 financial crisis 
The 2008 financial crisis, the worst since the Great Depression in 1929, had been predicted by Raghuram Rajan in 2005 while serving as the Chief Economist at International Monetary Fund. His prediction was not taken seriously at that time. "One of the many drawbacks of the Fund was not listen to him [Rajan] enough", IMF Chief Christine Lagarde later said.