Abstract
Consider these three statements176:
“Derivatives were at the center of the financial crisis of 2008.”
“What caused the Crisis? Derivatives.”
“I view derivatives as time bombs, both for the parties that deal in them and the economic system.”
What the vulgar call chance is nothing but a secret and conceal’d cause.
David Hume
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© 2013 David Murphy
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Murphy, D. (2013). The Role of OTC Derivatives in the Crisis. In: OTC Derivatives: Bilateral Trading & Central Clearing. Global Financial Markets Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137293862_5
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DOI: https://doi.org/10.1057/9781137293862_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-45137-1
Online ISBN: 978-1-137-29386-2
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)