0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 ?' u+ c) X# A, h2 y
Why bank will sell 借據給第三者???* D2 N  l5 L) ?( A) e: Z3 S
I was so confused.....

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講到尾都係賺錢+ e) o. l0 T1 Y9 r4 t# V
so銀行可以不斷放款$ t3 N3 w; Y4 h
美國的房貸問題散佈到全世界
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mortgage loan
6 y$ V  E. z; ~6 K>conduit* Q6 Z8 L0 O8 g! J8 l( w
>RMBS(Residential Mortgage Backed Securities)
9 f4 d9 S2 |9 A+ f: d>arranger
# u! {# }& P6 Y4 E! G* p>CDO(Collateralized Debt Obligation)
! R. z2 k6 S/ `* w+ m最後去到投資者

Kev

i thought it is the reason of rate of return.
7 K' |6 M) K. E8 YCDs could have different ratings, AAA -> F,
; N6 I+ b' A. ~0 {. B2 K9 }% T9 ^more risky ones would have higher premium (interest rate) as a compensation for an investment.
% E5 d" J5 Q3 e! ^2 h' imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 S3 G/ |3 O% min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* u0 T5 Y3 \$ z: f8 Y. k# c# ~* O+ ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. {2 m, S) W5 B( u
similar to bonds, CDs trading in the secondary market have different value at different times,5 ~! t9 D4 C# o  N
normally the value is calculated by adding it's principle and interest. 9 i9 I0 r: T3 W$ j0 W* \
eg. the value of the mortgage+the interests to be recieved in the future. ; M+ t5 a5 W) t7 i
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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im not quite sure if the multiplier effect does really matter in this case.
7 q. n, X' u! D+ V8 `: ?& _& yin stock market, it's the demand and supply pushing the price up/downwards.  B5 f+ l  A5 s  D) Y( L' Z7 h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% x8 |# c. r& Y/ ~1 a4 y3 C6 kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. e/ g/ T+ b6 j7 x9 ?1 u3 dThe 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. 0 p* X- G5 T! s4 A3 z# A+ e# v
but the value of their assets did really drop significantly.
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* y) v! Z  X6 h/ L- F! D/ _0 i" W[ 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
2 h5 O. w, S6 E# I% M: s; @Refer to last example,  p& a7 e4 a& y* U- Z
that means bank A have no money because we borrow 10 dollars from bank A
+ {5 |) Q; v. H% b  IBecause bank A doesnt have enough cash on hand ) m# A! J9 J3 T& [  G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 L# y( t0 @0 K$ ?7 B* WA->B->C->D->E
% w8 h$ z( o- i9 Q4 Q* Pso does it mean if E failed to pay D,
/ e5 i+ `7 @! t3 j9 Jall the B,C,D,E have to go bankrupt?
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6 V  l1 {' b' i  o7 ?9 l( Uthe multiplier just tell how much money created in a whole economy, ' g6 j  [% l- P7 s+ P1 i
in this case it doesnt really matter how much money is created, + `8 s& K8 ^. k5 c- i& i
it's the problem of the debt itself.0 ]( o8 i/ U, p0 P. B
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. r! G* u& Q4 c
小弟一直都唔明..." I+ D+ ?3 Q3 a8 {5 u5 l
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全世界都蝕錢，咁邊個賺緊錢呢?; u, F% f5 y/ M+ N5 }$ {

( a7 ^' K- ]. M" G9 ?無可能淨係有人蝕錢無人賺架嘛...
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% Y9 v% T: R, b# N8 O. B  E: N* A敬請各師兄解答
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Thanks

3 {( x: b3 e. B) o- N$ C
那些根本係 紙上財富  : Z4 @; W+ H. w! {# E3 H
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: d4 H( U4 \8 D- H% d3 v

  ?+ V9 _9 p7 z2 l1 t0 yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產; M' q! I. Q+ Q2 ~* C" i# ]
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 H" h- B- t& r, I3 j5 d
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' W3 B% t- m1 X2 p0 B+ F4 r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. f; z$ P0 H, p7 \! o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 e( }- x3 s) B- A) t
計番回報率就已經係50%,所以可以好好賺
, s; o& V8 \- G2 V( z+ X前提係銀行之間要互相信任先可以咁樣借法
& o8 d7 }2 O9 O6 ^同埋個市場既前境要係好先得
3 m* o% I7 w$ }6 V, X但當經濟一差,公司估值趺了,物價不升反趺
5 }, v  X' D. k4 M/ ]例如剛才說10蚊的, 趺到得番9蚊,
% I  [% a% Q# e2 N咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 ~. a, S; J) c5 G; J  a
所以你就會覺得D錢好似蒸發哂咁5 ]  c! i7 |* Y% i) ]
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你都可以當標野咁諗, 個樣野多人可以狂升值,
& b# W  b3 F- t  L% s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, + \/ F- o8 \" Y' U: j( g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' @. h$ E6 O: x- r. z% v" Z
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: U& r, Q7 J; K. J3 K. n
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) Q$ O" a% k' ~% a9 J
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( H9 [  v) I  |4 w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 S, a5 @' g) B) X/ }$ R
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 t" c; J) ?. {5 b" s& Z: d咁你話d錢蒸發左去邊? ...

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+ w4 k$ \) J% ~8 U  n! P- y正係咁樣
9 L/ S! E6 R( i6 Z  z2 Q" y( x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
7 q7 V1 |* v- O, N. R' b  Y. l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,5 Y6 D6 }- e1 d0 U
連國家都係問人借, 不停發債券, 印鈔票
7 Z4 ~5 d5 [: w- |一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 K" b; E+ j- }6 F3 k0 b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
4 z5 i* q9 R; i9 g4 l# Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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% r' k: C, n7 Q, C其實係...6 ]! f& M8 O' x' ]! T
因為以前未生產, 先消費
1 U% P+ Z2 z7 ~. g  V3 y+ D/ q. u而家就要多生產, 少消費