Simulación

INTRODUCTION
The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems.
On the one hand many peopleare concerned that those responsible for the financial problems are the ones being bailed out, while on the other hand, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. The problem could have been avoided, if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others’ viewpoints andconcerns.

HOW WE GOT HERE?

After the great depression, united states had 40 years of economic growth, without a single financial crisis. The financial industry was tightly regulated. Most regular Banks were local businesses and they were prohibited from speculating with depositive saviors. Investment Banks which handdled stock and bondtrader were small private partnerships. In the nineteeneighties the financial industry exploted, the investment Banks were public giving a huge amount of stockholder money and as a consequence people on wallstreet started getting reach.
In 1981, after the president Ronald Reagan chose merrill Lynch as a treasury secretary started 30 years period of finalcial deregulation.

DERIVATIVES
A derivative instrument is a contract between two partiesthat specifies conditions in particular, dates and the resulting values of the underlying variables under which payments, or payoffs, are to be made between the parties. The term "Derivative" indicates that it has no independent value, i.e. its value is entirely "derived" from the value of the underlying asset. The underlying asset can be securities, commodities, bullion, currency, livestock oranything else. In other words, Derivative means a forward, future, option or any other hybrid contract of pre-determined fixed duration, linked for the purpose of contract fulfillment to the value of a specified real or financial asset or to an index of securities.
Under U.S. law and the laws of most developed countries, derivatives have special legal exemptions which make them a particularlyattractive legal form through which to extend credit. However, the strong creditor protections afforded to derivatives counterparties--in combination with their complexity and lack of transparency--can cause capital markets to underprice credit risk. This can contribute to credit booms, and increase systemic risks. Indeed, the use of derivatives to mask credit risk from third parties while protectingderivative counterparties contributed to both the financial crisis of 2008 in the United States and the European sovereign debt crises in Greece and Italy. Financial reforms within the U.S. since the financial crisis have only served to reinforce special protections for derivatives--including greater access to government guarantees--while minimizing disclosure to broader financial markets.
One ofthe oldest derivatives is rice futures, which have been traded on the Dojima Rice Exchange since the eighteenth century. Derivatives are broadly categorized by the relationship between the underlying asset and the derivative (e.g., forward, option, swap); the type of underlying asset (e.g., equity derivatives, foreign exchange derivatives, interest rate derivatives, commodity derivatives, or creditderivatives); the market in which they trade (e.g., exchange-traded or over-the-counter); and their pay-off profile.
Derivatives can be used for speculating purposes ("bets") or to hedge ("insurance"). For example, a speculator may sell deep in-the-money naked calls on a stock, expecting the stock price to plummet, but exposing himself to potentially unlimited losses. Very commonly, companies...