The study looked at how Credit Default Swaps (CDS) contributed to the global financial crisis. By analyzing data and expert opinions, it was found that the rapid growth of CDS, along with other factors, played a major role in the crisis. The total amount of CDS increased significantly leading up to the crisis, and the trading of complex financial products like CDS and Collateralized Debt Obligations (CDOs) expanded quickly. This lack of proper risk management by financial institutions ultimately helped trigger the crisis.