IS THE BLAME OF GLOBAL FINANCIAL CRISIS ON DERIVATIVES JUSTIFIED?
The study is about the circumstances surrounding the global financial crisis. It reviews the operations in the world Street of America and how the world street collapsed and impacts on the whole world. The focus of the study is to ascertain f derivatives should be blamed for the global financial crisis. As a descriptive and analytical review, the action of the world leaders and views of the analysts on the global financial crisis have been used to take the position. It is deduced that financial derivatives should not be blamed, that lack of regulation and supervisory framework paved way for greedy operators in the market 10 defraud in their sharp practices, thus causing the global economic meltdown. Most importantly, it is recommended that the stand of the world leaders to combat the recession should be adopted in full by all nations of the world.