发表于 2016-9-29 02:29:29
标 题: Re: 如何SHORT中国房市
【 在 ch12 (ch) 的大作中提到: 】
: In the movie "big short", shorters negotiate a new product with bank, so
: they gambled with bank, bet against each other (shorters vs bank).
: However, they forgot the fact that bank was the MM in this case, and can
: influence rating firms (Moody's, Std&Poors) as well. So even in beginning
: 2007 when mortgage default everywhere, MM still made that EFT price go up
: and still gave those products AAA rating, even though in reality, those
: CDSs should be worthless in 2007. At last, when MM (Bank) could no longer
: cover the truth, they just refused to pay up and claimed themselves too
: to fell, so tax payers in 2008 stepped in and bailed MM out by paying
: debts. Shorters were then get profits.