CDO and CDS in the subprime crisis And the risk of transmission path the American subprime mortgage backed securities from the financial crisis is big crisis， derivatives in the subprime crisis in lanshi surge pushed the role， and the derivatives of debt guaranteed CDO (warrants in the US subprime crisis plays a vital This paper discusses the subprime derivatives of the structure and the structure of the risk of hidden behind， describes the risk of financial derivatives， and probes into the paths CDO spread from lending to market products is transmitted to the capital market， capital market， capital market and enlarge returned from the credit markets， Secondly the CDO， CDS product features to interpret the subprime crisis， and finally the role of with AIG crisis is analyzed with CDS for financial company CDO are summarized and the harm of the subprime crisis on the development of China's financial derivatives
