0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, F: T& S* O: ^) XWhy bank will sell 借據給第三者???/ h2 ]: o# i2 r( D
I was so confused.....

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* z& d9 l: N# R+ Y; Z: G講到尾都係賺錢+ A$ j% N+ l  `" f
so銀行可以不斷放款# N- m4 f: x1 i6 E/ w( u" a& M+ ?
美國的房貸問題散佈到全世界
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8 e7 Y. q7 R. u: m% A8 T0 Smortgage loan # z% h! ?" _8 M' J3 K
>conduit; B; Y0 N0 R9 {, \8 L+ [
>RMBS(Residential Mortgage Backed Securities)
  i4 ^- l+ B3 B7 F; b* e1 U7 _>arranger
, ?( j: @) A4 p  Q  g# T>CDO(Collateralized Debt Obligation)8 Z9 Y* Z$ d* y2 m
最後去到投資者

Kev

i thought it is the reason of rate of return.$ ^$ P; t  R! ]( W8 v
CDs could have different ratings, AAA -> F,
% W+ J& G8 r2 z2 W+ m6 Omore risky ones would have higher premium (interest rate) as a compensation for an investment.
  C( Y* g1 p, E8 ?' _1 v( wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 d# e8 v: w0 u, s
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 J$ ]$ d' g% ]; g+ {Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 m; }2 G- G6 y( H& F  z- x. m7 n: x
similar to bonds, CDs trading in the secondary market have different value at different times,
7 B2 {7 r  V8 J5 R# z' nnormally the value is calculated by adding it's principle and interest.
, W  F" }: z8 _3 ]. f% U+ Ceg. the value of the mortgage+the interests to be recieved in the future. ' ?2 I, v. M( x. D1 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.
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) h" {( }7 w. E$ j; r: Gim not quite sure if the multiplier effect does really matter in this case.2 J; F: l2 ~% t% ]) t8 h8 k
in stock market, it's the demand and supply pushing the price up/downwards./ n2 r. R: W0 W  _2 M  b8 C
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 e9 j: A* s) O  _* B( k) H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& ~  @& b/ m5 X6 b* U" L
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.
5 S7 b& b5 l; Rbut the value of their assets did really drop significantly.
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[ 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
, }4 T! p( t5 t2 jRefer to last example,) {; s. E2 r! A( ^  x- S- J3 {
that means bank A have no money because we borrow 10 dollars from bank A
. |0 r+ B) f8 f" e1 ]Because bank A doesnt have enough cash on hand
7 O; s0 x/ s$ s- l7 Gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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) K. {# }3 B; _8 lA->B->C->D->E  y& U6 R' k" U5 K3 K! p# T6 M
so does it mean if E failed to pay D, , a6 g) U- |: b/ N0 k- Q* I3 F
all the B,C,D,E have to go bankrupt?
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8 @& _+ g  w: i; |the multiplier just tell how much money created in a whole economy, . ]& D$ I+ Y/ o; m! z
in this case it doesnt really matter how much money is created,
7 \3 d  y, A2 ?5 a- Eit's the problem of the debt itself.* n0 j1 m* l/ J) z
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.gif9 e- g# O) Q! T7 u. l
小弟一直都唔明...
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. `) r& E: E  I  F/ A全世界都蝕錢，咁邊個賺緊錢呢?2 \4 m) l1 x: `' I/ E

+ }6 D" a, S* G) f/ a無可能淨係有人蝕錢無人賺架嘛...! e# u, h1 _9 s6 n- u3 \, Z$ Q# {% P
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敬請各師兄解答
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2 D2 o: U  q! R1 I" [: PThanks

% d# \9 T, o- f1 ^那些根本係 紙上財富  * H" c2 t% z- m% h% \! T
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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. b+ U- {  a7 V: Ohttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 v0 m/ R* E+ \  X8 r! ?+ H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, x& W0 W/ G0 v2 \6 y# J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4 U/ E. y# [% f1 h% n' F1 j; ~# \
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 t; \" g0 ~: U5 G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% F) ~0 B( q9 {: s$ i7 h' C
計番回報率就已經係50%,所以可以好好賺
7 \$ S3 p: l8 s& y前提係銀行之間要互相信任先可以咁樣借法
- r$ {3 O# X5 I3 n# q同埋個市場既前境要係好先得
1 B5 r& ^; l7 Z" c3 Y但當經濟一差,公司估值趺了,物價不升反趺# `, b8 V- T7 _! D! W  t) l% q
例如剛才說10蚊的, 趺到得番9蚊, 5 H* l2 j4 e: K/ h% o
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- Q9 c  X1 k, M" ^
所以你就會覺得D錢好似蒸發哂咁# z$ C# k1 ~7 t9 P7 K
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你都可以當標野咁諗, 個樣野多人可以狂升值,
: u0 v9 K0 E: |& h3 o4 _. P6 n$ c9 g  e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, 4 T/ k. g. D' u3 i5 ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- r, k5 U) R& \4 {9 z# U$ l4 ?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
$ e- F) T0 X: r3 l6 V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
3 i2 Q/ {7 ]: C& L唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 f) f/ t- w% h+ a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 b2 {) l) a+ a: R$ n7 c9 ^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$ ^9 F! U: c3 O" o. p( x
咁你話d錢蒸發左去邊? ...

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! V2 ]5 n) w2 `. S正係咁樣
* {; X  y( H. y6 V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# X" r4 f; a( d# ^5 {
分分鐘佢地唔使還錢
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8 X, X2 b2 \% B" D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,$ R! f2 E' |( n- u! U$ S# W& ?
連國家都係問人借, 不停發債券, 印鈔票
* }1 V. N( m2 ?0 ]" Y  @: h* i一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: T$ [* Q, x" Y: `& k5 U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.gif
3 g/ m" j& x4 N5 O4 u咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 K* a# s# `3 Y6 x因為以前未生產, 先消費
, V. l3 O$ W/ j  v0 m- b9 s6 w而家就要多生產, 少消費