... for a premium (Leote, J. n.d.). Last but not the least financial instrument is derivative, which will be defined in second part of this essay as it was one of the main reasons of Global financial crisis in 2007-2008. The Global financial crisis erupted in 2008 and has touched almost ... 2013). At that time US financial industry was dominated by five investment banks; Bear Stearns, Goldman Sachs, Lehman Brothers, Morgan Stanley and Merrill Lynch, two financial conglomerates; JP Morgan and Citigroup, three security insurance companies; AIG, AMBAC and MBIA, and three rating agencies; Moody'...

• Word Count: 2663
• Approx Pages: 11
• Has Bibliography
• Grade Level: Undergraduate