Jo, HojeLee, ClaudiaMunguia, AdamNguyen, Cantalina2019-09-252019-09-252011-02-282009-071941-336Xhttp://hdl.handle.net/20.500.12424/176494This paper examines unethical misuse of three derivative securities of mortgage-backed securities (MBS), credit default swap (CDS), and collateralized debt obligations (CDO) to understand the cause of the global financial crisis. The authors then gauge their effects on market volatility based on how past major events affected swings in the volatility index (VIX). Additionally, the authors examine how the unethical misuse of these securities and their effects on market volatility contributed to the global financial crisis.engWith permission of the license/copyright holderaccountabilitysecurityfinance ethicsEconomic ethicsArticle