0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- Z, A  w* y+ M8 tWhy bank will sell 借據給第三者???
5 `! ~( q- E) Y+ s& JI was so confused.....

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講到尾都係賺錢# e0 q; A1 ]* r3 V. F9 `0 G
so銀行可以不斷放款1 l" k( c0 {: q0 ]7 O
美國的房貸問題散佈到全世界; j" p  P7 i  R
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mortgage loan ) D9 c) o' ?+ w
>conduit9 ~- w2 r6 Y! ]9 ?
>RMBS(Residential Mortgage Backed Securities)& \* W, b1 n+ C! }8 w
>arranger4 S" b% H7 z+ W& G
>CDO(Collateralized Debt Obligation)
; A+ k- p. c! D最後去到投資者

Kev

i thought it is the reason of rate of return.
1 ]" S7 Y" o) k( ICDs could have different ratings, AAA -> F,
/ j9 @8 x$ A0 Z4 Dmore risky ones would have higher premium (interest rate) as a compensation for an investment.
) x) _/ {7 y; Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  X! v7 H, x3 u" Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 L7 Q8 G% I% S# S, z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! @% v9 u5 K  }" {8 E. v. B- w( j8 N
similar to bonds, CDs trading in the secondary market have different value at different times,3 k$ ]8 j5 k" F! i" b' x6 D; F
normally the value is calculated by adding it's principle and interest.
6 a# N7 e5 t* e4 M& W6 H4 U; c/ Z# Ceg. the value of the mortgage+the interests to be recieved in the future.
8 d$ ?! w  K5 X* e$ ~8 K7 }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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  }2 t/ o3 U7 @/ @: H# Xim not quite sure if the multiplier effect does really matter in this case.
" [) ]5 r; m% }. Iin stock market, it's the demand and supply pushing the price up/downwards.
, u7 Z# S( |: O$ SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) G2 ]- o3 \+ ^6 \A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 k) y( K) g+ L4 v8 |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.
! j% b$ T  E; r! X/ Q6 B. jbut 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' s' D/ K4 d: y+ s0 }: Z6 K. Y
Refer to last example,
9 y5 O5 N* Q6 u. f' q7 uthat means bank A have no money because we borrow 10 dollars from bank A
% v2 P2 T! O! o, D; ^' m2 PBecause bank A doesnt have enough cash on hand 2 t1 H' w5 N# q3 Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E' c% `4 p2 c$ V! ]' H& e
so does it mean if E failed to pay D, ! x; x1 d- K& K6 Z
all the B,C,D,E have to go bankrupt?  z- N0 o. S9 X$ N1 x1 V

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the multiplier just tell how much money created in a whole economy, - k. w' t* c; O+ j$ k4 C( L% L
in this case it doesnt really matter how much money is created, 6 \- t8 w4 t5 |5 m
it's the problem of the debt itself.) {. P; F# R$ _% 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
. p4 n" F) ]& n9 g, Y: l8 a- Z小弟一直都唔明...
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4 m" R5 J& k8 |* q" m* I8 p& Y4 a全世界都蝕錢，咁邊個賺緊錢呢?
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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  
1 `' ?* z9 Y' {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 graphic9 \( H, J$ U3 p! \- P, L

  B8 j3 O+ u1 d# f: V6 \& ~/ Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產5 e6 k4 O  c9 H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" f' U1 E9 I$ F, T$ y% O6 V: B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) ?( o# B9 \/ b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% M+ Z) O; h% v# I$ b扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# v- ?2 |  W5 s4 O計番回報率就已經係50%,所以可以好好賺
/ E; l; N4 L. I( V2 P  y, \前提係銀行之間要互相信任先可以咁樣借法7 s' }0 ]1 \5 B4 O$ t
同埋個市場既前境要係好先得
3 I3 c5 L" ~7 p但當經濟一差,公司估值趺了,物價不升反趺# `" {; V1 d. c* B4 @# C* R
例如剛才說10蚊的, 趺到得番9蚊,
, v6 P  ^9 r& O. \, i' J; s咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  Q- f. X8 v: P1 \所以你就會覺得D錢好似蒸發哂咁, L# A, {  |4 X4 t" J2 g+ Q$ H0 |
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你都可以當標野咁諗, 個樣野多人可以狂升值,
7 c: O7 ~7 Q. f0 C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,
0 t5 R( a; I/ @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 o! l7 Z/ m! |+ @: m$ Y$ n+ k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
0 j: Z: w+ ~" t% h$ a) z, g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
9 ~9 N5 d5 `% {唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 Y  \) B" N1 e- P0 R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ g' k- A# M1 C' e/ O/ N
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
: [$ R& A/ D/ b" ^, e咁你話d錢蒸發左去邊? ...

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正係咁樣
4 b8 }3 t4 W0 ]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$ O1 N$ b8 Y) u$ ]4 y( c
分分鐘佢地唔使還錢. ]. D4 S$ ^: D: N6 a" T

; v3 }4 R( K: `: @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,( W0 x  [  O1 y9 e3 p8 H* n6 F' K
連國家都係問人借, 不停發債券, 印鈔票
; V, `2 V( R' C0 p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" ^7 r7 `" h' P4 i7 E( Z; C* ~6 S
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 s. W4 B" i! G咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 ~( t9 }# e( J) H其實係...
/ _( q8 v! S! V& ^3 L! ^/ v因為以前未生產, 先消費
( _  }) ?) v' |2 Q2 P而家就要多生產, 少消費