{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"e613fff5-9eda-4e8d-b348-903e6d630253","title":"黑箱社会 控制金钱和信息的数据法则＝THE BLACK BOX SOCIETY","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9787508655208","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"e613fff5-9eda-4e8d-b348-903e6d630253","id":"e613fff5-9eda-4e8d-b348-903e6d630253","uuid":"e613fff5-9eda-4e8d-b348-903e6d630253","title":"黑箱社会 控制金钱和信息的数据法则＝THE BLACK BOX SOCIETY","normalized_title":"黑箱社会控制金钱和信息的数据法则theblackboxsociety","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9787508655208","isbns":["9787508655208"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":318,"navigation_url":"https://workshop.closeclaw.top/ai/book/e613fff5-9eda-4e8d-b348-903e6d630253","title_url":"https://workshop.closeclaw.top/ai/title/%E9%BB%91%E7%AE%B1%E7%A4%BE%E4%BC%9A%20%E6%8E%A7%E5%88%B6%E9%87%91%E9%92%B1%E5%92%8C%E4%BF%A1%E6%81%AF%E7%9A%84%E6%95%B0%E6%8D%AE%E6%B3%95%E5%88%99%EF%BC%9DTHE%20BLACK%20BOX%20SOCIETY","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/e613fff5-9eda-4e8d-b348-903e6d630253/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/e613fff5-9eda-4e8d-b348-903e6d630253/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/e613fff5-9eda-4e8d-b348-903e6d630253","page_url":"https://workshop.closeclaw.top/api/ai/books/e613fff5-9eda-4e8d-b348-903e6d630253/page","search_url":"https://workshop.closeclaw.top/api/ai/books/e613fff5-9eda-4e8d-b348-903e6d630253/search"},"page":{"printed_page":162,"pdf_page":181,"physical_index":181,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"041bf59ed24b6e55bbd544614f1d92150b37aa2f06e2dcb10f0ae6695d7a697a"},"chapter":"第三章","content":"有人将信用违约掉期和住宅房屋保险相比较。然而，这个比喻回避了很多问题。多数人不会因为自己的房子已经投保就将危险品带入屋内，但银行却会这么做。它们利用新的担保来投资更具风险性的项目。金融风险监管的要求十分复杂，但其中一个简单的原则是，银行需要储备足够的安全资产来应对投资组合的价值下滑。如果有抵押债务人根据合同义务付款，而且还有保险(通过信用违约掉期）对违约情形进行担保，那还有什么会比这种资金流更加安全呢？这就是当今华尔街的必杀技：保证收益。\n\n问题是，就在进行此种尝试的过程当中，一家重要的保险公司也开始做着同样的事情，似乎将它认定为一件“把握十足”的事情。回想一下，在20世纪90年代，美国国际集团在互惠信贷中损失了不到一亿美元，这成为当时的大新闻。到2008年，美国国际集团已经积累了数百亿美元的信用违约掉期产品组合，并高高兴兴地从想要对风险证券进行投保的公司那里收集了保费，而它的储备资金却和投保金额相差甚远。那些从美国国际集团购买了保险的公司自信地认为自己的资产有了保障，任何收益损失都会由美国国际集团的信用违约掉期承担。似乎美国国际集团这个私有企业可以履行联邦存款保险公司的公共职能，即投保项目全军覆没的情况下还可以全额赔付。\n\n黑箱社会The Black BoxSociety\n\n162","previous_page":161,"next_page":163}