0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; X8 A% j, G" t' h; f* qWhy bank will sell 借據給第三者???
2 Z2 k1 {$ d. n5 a% _. iI was so confused.....

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3 Q, J0 J% o5 i$ Y$ @$ ]講到尾都係賺錢! D! [& O- P. i9 }9 x6 M
so銀行可以不斷放款$ J! `9 O; W, k- r: b8 x
美國的房貸問題散佈到全世界
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mortgage loan # T% C% J! h% f: ^0 B
>conduit
9 O4 |$ d" u5 F8 N) W& S>RMBS(Residential Mortgage Backed Securities), l- k; c4 {( J( ]
>arranger; E' y- T* _9 Z' S9 C8 M$ m
>CDO(Collateralized Debt Obligation)
! p3 \$ m3 r$ O6 m, f( k最後去到投資者

Kev

i thought it is the reason of rate of return.
* T- Q" R* L( C: ^2 KCDs could have different ratings, AAA -> F,: f" ^4 J4 v# O, g2 s
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 e* J6 p5 I3 k& ^+ g& X( V& Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 ^( K2 m0 ^& Y$ r  ~: bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 E& f5 G6 K( o  }' R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' x# H  Y" m$ r1 J: J2 y
similar to bonds, CDs trading in the secondary market have different value at different times,% t' y; ~7 C1 [9 M2 L8 U
normally the value is calculated by adding it's principle and interest.
& a5 T1 q0 w2 g* v: Z. S% Heg. the value of the mortgage+the interests to be recieved in the future. " h% u/ y% L/ s, c  G
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." G0 O  W* {* K' G- f' s6 j
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im not quite sure if the multiplier effect does really matter in this case.
; b; w. _, U" Z% Ein stock market, it's the demand and supply pushing the price up/downwards.
3 h1 b: y2 L, s4 e3 uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
2 ^8 B- c8 ~2 {2 ]& N% vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 z( h$ M$ G$ `8 ~& d' |1 tThe 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. 2 y+ u1 W& v# X0 u/ U5 T* q7 U
but the value of their assets did really drop significantly.5 D: s, N! q7 w1 I
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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
1 C) @3 L3 f6 [) k3 L/ ?Refer to last example,; u# v1 U+ q' D" `% c% _+ s
that means bank A have no money because we borrow 10 dollars from bank A
$ n0 o3 i4 _" r- ^  Q: V: cBecause bank A doesnt have enough cash on hand * P: X3 I6 d. i3 T( E7 ]' }
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 F* u8 }: |4 m' ^  b) z' `5 M+ \' y( g9 i
A->B->C->D->E
+ ?# q5 E% e3 K) Pso does it mean if E failed to pay D,
$ [! L! f5 B% n" sall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, / j% w8 b6 {4 x. q
in this case it doesnt really matter how much money is created,
5 H8 q4 \# `8 T0 ^/ rit's the problem of the debt itself.3 y$ K2 A" h# K
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# z: q1 T) b, K& f7 @
小弟一直都唔明...
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$ g) [% Q+ J2 |0 Z) ]全世界都蝕錢，咁邊個賺緊錢呢?- q, ]. p8 w* @2 I9 W0 |9 h
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無可能淨係有人蝕錢無人賺架嘛...1 Q; E  d+ B3 Q& c
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敬請各師兄解答
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Thanks

, w+ @% Z8 R; T9 L" g" O那些根本係 紙上財富  - I( o5 t1 m, ^
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 graphic8 j1 s) O9 j3 o: N
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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1 w4 @6 K# e3 P! N1 H( r# m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! ?6 `! G* o, R1 \7 M! n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" Y3 S- Y5 j( J6 `4 e7 X; F' M
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) V1 x) z( z  s6 z0 V9 j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 G# D2 o  D- b; g$ m計番回報率就已經係50%,所以可以好好賺
% T3 K1 ^0 I* A6 N* i# p8 f5 ^9 C+ T. B前提係銀行之間要互相信任先可以咁樣借法
9 W4 g5 P( r! n3 M2 D6 v! c% n: r同埋個市場既前境要係好先得
1 e& E% \) Z9 h( N但當經濟一差,公司估值趺了,物價不升反趺
! W$ p( ^, c' H6 `# [6 L" J例如剛才說10蚊的, 趺到得番9蚊,
  }* k( ]1 |, M5 I2 g- X- g2 `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 \  o4 }' C' ^5 {
所以你就會覺得D錢好似蒸發哂咁3 }. r( |* Z, a8 x; U9 P, Q+ g
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你都可以當標野咁諗, 個樣野多人可以狂升值, . \2 B$ A( t" g1 O' b
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, : s7 f9 o+ T0 q: p0 e' I: @; r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, z' t" A' }, _. s# e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- F( K0 b1 r( P, S
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
! c5 f  d, h+ e$ u' `1 v; J' {唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, p" t% U  l+ y) u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 p6 S! C9 ~( k+ D$ D8 D: b: D7 e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
! z/ f$ q! g7 a8 b4 l咁你話d錢蒸發左去邊? ...

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/ F. T. }/ [2 C( Q: D正係咁樣) {+ g; |0 S' n' W
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
: A  Q# N: v% y1 v0 t* F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,
0 L! ?& K* p! a* O2 M  u* A連國家都係問人借, 不停發債券, 印鈔票. N! w' H/ _( `( d7 B( w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- x, L; d0 g4 o5 ^9 W! \
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.gif6 s# H) f/ a" x$ N% A: g  L0 o
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  f/ `# B4 A) J  R9 R$ ^
因為以前未生產, 先消費
7 y. X8 @1 F) R# I而家就要多生產, 少消費