Özet:

Although there are lots of reasons underlying the financial crisis, asymmetric information, the loss of transparency, financial innovation and securitization shown as the most important reasons of the last financial crisis. The financial crisis that began in U.S.A. in 2008, effected all over the world. It was accepted that wrong understood and valuation of the derivative products had caused the crises. This study has focused on Collateralized Debt Obligation – (CDO) as a cause beside the derivative products. Types, structure and operations of CDOs and the effects on the financial crisis have been mentioned in this study.

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