0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. _2 }) T4 {) `
Why bank will sell 借據給第三者???
% E7 K! r0 A6 u  W4 _I was so confused.....

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  D/ M* L5 @( ?- N7 v講到尾都係賺錢
' ]: j0 x3 D5 C4 Y: j+ oso銀行可以不斷放款( l% @' u( f3 P9 H" V- C+ F
美國的房貸問題散佈到全世界
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mortgage loan 6 P0 Z* ~3 I; @+ e
>conduit
6 K' K$ h+ Y7 F$ q' r3 J) Q>RMBS(Residential Mortgage Backed Securities)! i- j. q9 n0 i& D: I
>arranger+ S# p- H# Q" U; W2 F
>CDO(Collateralized Debt Obligation)
3 G2 k" S  @! @最後去到投資者

Kev

i thought it is the reason of rate of return.
& d, K7 ?- Z5 ^+ \3 V, t% q) \- sCDs could have different ratings, AAA -> F,
# r6 o; |, `9 z% `; O- B, y2 Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- V, P6 G+ I- @- g2 ^" z9 omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. u0 d" l" B0 }1 R( Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' Q6 T5 V& G0 M( j, c/ E( j, b# K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 Z2 c3 p0 M3 b* E) \, F' @similar to bonds, CDs trading in the secondary market have different value at different times,9 D( \+ K) m; w% n8 K/ l( g* N
normally the value is calculated by adding it's principle and interest. 8 s3 c1 Q; X" _0 S: ]5 p) k1 V: \
eg. the value of the mortgage+the interests to be recieved in the future. % c1 |$ b0 k4 [! @0 l  R& W: y
banks who sell the CDs, could enjoy a few benefits like, the present value of cash and passing the risk of holding a debt to another party.$ _  n( w' e3 {1 E, t. ~; D4 q! ^
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im not quite sure if the multiplier effect does really matter in this case.
. e- ]( {5 U+ B$ n5 iin stock market, it's the demand and supply pushing the price up/downwards.
2 T# B$ Y' U2 T) jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 P4 \. U6 y+ K- {. ]A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& o. }& ?* {" M( ~# c! E
The capital loss that ppl suffer nowadays, i believe, most of them does not really suffer a real $ lost yet as long as they dont sell their securities.
4 g; I7 t7 V! M0 B( Ebut the value of their assets did really drop significantly./ H6 J- _+ \. {1 C1 o

1 a; [) i5 V, Y+ P- y% I[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]

Kev

原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 n  o! ~4 R1 B0 \: x1 nRefer to last example,+ G- _9 b6 F" M+ }3 G- e9 V3 N
that means bank A have no money because we borrow 10 dollars from bank A 7 s6 x- `2 l# {/ M+ H( n$ i
Because bank A doesnt have enough cash on hand ; v0 I) A- z2 E( U
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( D# M; a) \% i. n% j# z& a" tA->B->C->D->E
  [7 y1 }$ j4 `$ }8 _2 C0 rso does it mean if E failed to pay D,
, s: H" a7 Q( B# pall the B,C,D,E have to go bankrupt?
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+ R9 n+ }- b$ r2 z8 f) x$ c
the multiplier just tell how much money created in a whole economy,
" C/ ]: E4 K' [in this case it doesnt really matter how much money is created,
0 B! p- N  M. X2 _, Z% H' p2 Kit's the problem of the debt itself.) Q) j* n( [+ Q2 a6 \
the debt(securities) is bad, faulty, that harmed the whole system.

benny1219

原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& ]& P8 m- V9 x小弟一直都唔明...5 e! \# e# R- N

: T0 n' J" P- b, j2 T% b% w& k全世界都蝕錢，咁邊個賺緊錢呢?1 s; O2 H) A$ A# a
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無可能淨係有人蝕錢無人賺架嘛.../ s- R8 V1 S6 T
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敬請各師兄解答
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: W# C- t$ D' J! L- OThanks

5 \. }$ t" `# r3 y那些根本係 紙上財富  
# V' Y7 O' Z3 Q) D. o' H* n各式各樣的證券被炒到上天 你一樣唔賣那筆錢永遠都不是真的存在

qulapo

with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic
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http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產0 @) ^' m8 g& C: Q; M* e4 p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 m( m0 K6 {% d4 ^3 x1 L: E. {2 F
於是投資銀行就去搵銀行抵押借錢投資, 打個比喻1蚊既野借10蚊$ i3 g; r6 d9 D0 L" J
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' ^1 c& r, `7 w6 \" z/ ^5 w& l) O1 q/ o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ y- N! p9 p, g
計番回報率就已經係50%,所以可以好好賺
" Z! n: m( f) A1 ~* U' c) T9 ]前提係銀行之間要互相信任先可以咁樣借法' z6 j7 \+ E$ @1 P/ ^+ L
同埋個市場既前境要係好先得5 R' j& Z5 L: W7 J) g
但當經濟一差,公司估值趺了,物價不升反趺0 t1 a( A: e- |
例如剛才說10蚊的, 趺到得番9蚊, + d( o# x4 `1 s" T: a9 I- n( n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ b: D% i7 ]* Y" B' P& [! t, c
所以你就會覺得D錢好似蒸發哂咁; p/ g( B2 D7 V+ y; ?
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你都可以當標野咁諗, 個樣野多人可以狂升值, . X& F1 _" M5 q9 T, T
但當冇人要既時候一蚊都唔值...中間D錢其實真係冇人話賺左~

kuru

唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, s$ i2 z7 e+ |, c& B0 d  _0 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 t5 l$ r* C% ?' L8 {9 X$ g7 Q9 L: H呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
# Q, q9 P3 J- T4 j9 _3 Z咁你話d錢蒸發左去邊?

fcukyoukelly

原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 R  z9 a9 |, Z唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, c3 v& s1 z3 A9 a5 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) `7 g. v* N: a. _4 Z7 m  q
呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
& _) g# D0 T/ d6 ]: @) E! J咁你話d錢蒸發左去邊? ...

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% \4 s) ~; e+ p$ w" t/ Z正係咁樣0 l$ s. o& T/ C
其實, 以個人立場去睇, 美國好多市民都唔怕銀行/財務/投資公司結業. Y9 s# L- p/ G+ z
分分鐘佢地唔使還錢
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再講, 美國人先洗未來錢應該係世界第一, 唔知點解無錢都可以買咁車買樓,1 ]$ x5 ]# n7 ]) C
連國家都係問人借, 不停發債券, 印鈔票
( M% }; `1 [: ^- R8 F2 R) A* F1 V一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. u" z+ `" `! c; n+ _編編唔生產又使用物品使用得最多, 美國就係咁既情況

Jk

咁而家"爆哂煲"算唔算先至係變番"正常"???

fcukyoukelly

原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif4 B. _; ^0 q1 b. o* F. N
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
, n$ t* r- q- V- v因為以前未生產, 先消費
- `% f- S/ e/ }" W2 h- b$ D而家就要多生產, 少消費