The root cause of worldwide credit crunch

Lots of people are still not aware of the reason behind the substantial credit crunch that all the companies and all the countries all over the world are facing at the moment.

People are still believing that it is the subprime mortgage crisis that is the actual cause all the overall economic turbulence that is being faced by the overall global marketplace all over the whole world. On the contrary to this fact, it is the unregulated world of credit defaults swaps which has been the root cause of all economic problems and credit crunch all over the whole world!