0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' ^+ l, B( l8 u( r2 s7 c
Why bank will sell 借據給第三者???
8 z: A. v, H0 NI was so confused.....

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講到尾都係賺錢6 Y" O6 ^( B/ c
so銀行可以不斷放款
' C; t3 ]- D2 D5 v2 _: `* @美國的房貸問題散佈到全世界
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mortgage loan # b# K3 W; N8 [) i
>conduit
! w3 T% S" p( [% w' ^( W>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)+ Y* _9 ?0 U0 I# ?$ x
最後去到投資者

Kev

i thought it is the reason of rate of return.
; u0 k, @' }6 |# mCDs could have different ratings, AAA -> F,; j& _- R2 N8 C, x; r$ k( W. D
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 ^9 l7 c; y) }- v5 D, I  d
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& f1 i+ w" Q! H& ^! a& Y. ~# i( X
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 J2 v1 r" L( E; E: {Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& e, E& \: D. M3 S- n5 j: Fsimilar to bonds, CDs trading in the secondary market have different value at different times,: b, R- q( S+ w# Y
normally the value is calculated by adding it's principle and interest.
0 ~0 U( I0 I" Teg. the value of the mortgage+the interests to be recieved in the future. $ q2 S7 s$ @$ R+ r* r+ l
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.3 _4 E0 {6 m- Z$ V# [
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im not quite sure if the multiplier effect does really matter in this case.: d1 q  _, }, R! {7 Q3 i1 ^. x" _3 q
in stock market, it's the demand and supply pushing the price up/downwards.
8 W5 o( J; {. U8 ^! QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 E2 w5 |: ~  Z  n, x% u! g) R2 D& yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 N/ R5 W' \1 D. cThe 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. 7 u; X; M2 U) U  J1 J2 G
but the value of their assets did really drop significantly.
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: a& n0 F  A/ [! ~. d[ 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
) y. `; N# q- f  ARefer to last example,
& |8 {* d" o7 l3 l& g+ B8 I/ fthat means bank A have no money because we borrow 10 dollars from bank A
5 ]& [. H0 c" z. |  t; r0 L& w3 BBecause bank A doesnt have enough cash on hand 0 \) f3 `$ w3 I* a! F
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ t+ t* [) p$ Q" VA->B->C->D->E: u, C$ K# M4 S: [. c% T3 |
so does it mean if E failed to pay D, + z* A9 E, ^" z+ Z: j
all the B,C,D,E have to go bankrupt?% r. a, S0 |1 D' Z( c& E! I4 ]

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5 w+ N  ]: s4 q; U3 Tthe multiplier just tell how much money created in a whole economy, - y/ |, X6 P3 O2 n: U9 W3 O! }9 }
in this case it doesnt really matter how much money is created,
; y/ x5 y& R+ |it's the problem of the debt itself.3 O/ x$ t7 H" ^7 O) l8 |
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( N$ A# D( N5 V, v6 [0 S% z* D
小弟一直都唔明...: P1 x. [  F# {% C8 `7 A: I: P

( N; J; V' Y2 D+ R2 S- n$ m# t- }全世界都蝕錢，咁邊個賺緊錢呢?: m/ ?( P" F& f% u- V
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
5 _( m* _: T0 _9 X/ K( p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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* D) C4 I; f( ^: t* Y0 W8 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
$ i$ r) [5 C% z7 M: s0 u當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: V: |- Z1 q1 O7 M! b# ?( 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
% P3 e+ W% X9 P個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( N  ^$ F2 B1 D! G
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ G2 t/ z" F: y* j8 y
計番回報率就已經係50%,所以可以好好賺. s" _. N8 K7 {
前提係銀行之間要互相信任先可以咁樣借法" e: p. Z# y8 R3 g2 _
同埋個市場既前境要係好先得  K) G/ y3 Y% _
但當經濟一差,公司估值趺了,物價不升反趺) `- z% ?$ C( l$ l# e1 ]9 B  A
例如剛才說10蚊的, 趺到得番9蚊,
6 D+ W' |  V/ o' M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ i& h* k: u4 ?/ U所以你就會覺得D錢好似蒸發哂咁: a- w& o& Q# O* M
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你都可以當標野咁諗, 個樣野多人可以狂升值,
4 {! {3 ?' L) F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, 5 i: O( K- |* L+ e; }0 R" H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  ?' X1 m+ p4 _/ }/ Q( ]4 f. \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. f0 N9 C. @: [7 h- i: W8 }2 c
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.gif7 N) d' ~& d6 b% A' I/ q1 b3 f3 a" c
唔係d錢蒸發, 而係比美國佬洗晒未來錢, : W$ W7 l1 f' W4 ?1 W0 ?6 F9 u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. x: f% s# Z2 \- d: B9 r# 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& D5 \, D, n. i1 }4 f( m
咁你話d錢蒸發左去邊? ...

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正係咁樣
1 y! }2 b! x' R6 ~0 q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- x- T  U+ ?& h/ i: N+ r, ]分分鐘佢地唔使還錢4 V4 k7 S1 S: d; b5 U) O
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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,3 m0 `# Q* H+ _% j. G
連國家都係問人借, 不停發債券, 印鈔票, h* x* U! `7 ?: a
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# z1 r4 [4 T. ^) t  c$ L+ e3 ~
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.gif3 o% U6 S; W( X7 U8 \( L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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' ]0 x) y# i* J" w" |* p( c其實係...
6 X8 _& t0 j. E5 w' R( c6 K2 s  d因為以前未生產, 先消費- Z  c5 c4 }8 }( U2 O+ _4 E3 V
而家就要多生產, 少消費