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The Global Financial Crisis: The Great Depression

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The Global Financial Crisis (GFC) is probably considered as the worst crisis since Great Depression in 1930s, while people still cannot figure out what factors exactly caused the crisis. Many institutions argued that it was caused by a combination of high risk, complex financial products, and regulation failure (Ross 2010). Although there are numerous financial products, being related to the GFC, most of the spotlight falls on Over the Counter (OTC) products, especially derivatives. The reason behind it is the fact that there is greater number of people who favored OTC product than the standardized one because it offers the flexibility to be tailored in order to meet their preferences of liquidity. The flexibility nature of the OTC is supported

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