I take issue with the connotation as you describe derivatives; they hide and obscure. They are a tool, nothing more. Other than that, I agree. It was the lac

I take issue with the connotation as you describe derivatives; they hide and obscure. They are a tool, nothing more. Other than that, I agree. It was the lack of a central clearing house for the derivatives -which would have allowed issuers to determine counter party risks and price it properly -that was the failing. But that's a human error. There's no need whatsoever to blame the securities themselves.