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 看了以下同学们有关高盛的发言，很受启发呀。不管司法部有无一个strong case，底线是， |
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看了以下同学们有关高盛的发言，很受启发呀。不管司法部有无一个strong case，底线是， -- ceo/cfo - (211 Byte) 2010-5-13 周四, 05:24 (2191 reads) |
emperorfan
[博客]
年龄: 51
加入时间: 2010/02/05
文章: 2008
海归分: 814623
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作者：emperorfan 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
If I bet there is big earthquake in San Francisco, I find GS to buy earthquake insurance on all the houses his clients have.
gs find aig to sell earthquake insurance, and sell to me with a fat fee.
nobody knows the earthquake will happen or not， but earthquake insurance is too CHEAP to pass. gs has no idea that housing is DEFINITELY going to bust.
Later on, gs bot some cheap earthquake insurance for his own holding.
What's wrong? OK, GS does have ethics issue, but it's average IＢlevel
The hidden problem is that there is not enough houses to sell to gs's client.
So they also use CDS to create synthetic house, a virtual house to bet on.
One side buy virtual house, betting there is no earthquake, the other against it. Too many SPE floating off-balance sheet.
Hence, Derivatives created a unregulated shadow banking area with high leverage and risk. It's regulators' fault. who, unregulated OTC derivatives are regulated by FED.
buyers- european banks fraud on their capital ratio by using CDS as well.
Turn a BBB (200% risk weight) into risk-free assets (0-20%).
All right, I am not an expert. Please check
作者：emperorfan 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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