0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
+ R# f. D: g" f+ b/ ?* \Why bank will sell 借據給第三者???+ n( C: E) \' c6 N
I was so confused.....

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講到尾都係賺錢
. o$ ~; T  r6 ^1 @1 a; V  }0 Vso銀行可以不斷放款" D6 d8 T* O2 ~" T
美國的房貸問題散佈到全世界  H% O# K, g9 e$ {

$ T: ^" w. C6 ~5 R* Mmortgage loan $ d) c) F0 e' H7 E8 k/ K; Q
>conduit
3 Q. N& U2 h9 Z/ M>RMBS(Residential Mortgage Backed Securities)) l4 w$ M, [) y' L$ `. e
>arranger" c- u4 m# d' v
>CDO(Collateralized Debt Obligation)
5 x8 ^$ n9 a# n$ k- i最後去到投資者

Kev

i thought it is the reason of rate of return.
% E8 D4 b  @1 r: U% i. LCDs could have different ratings, AAA -> F,
  C( s8 j9 }  `( E) Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
" ~; r$ D5 D- B; smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: F/ ]$ C: z! z9 e* win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 W8 C) H% V  I' q! Y: W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 m& c- v* |+ U% \/ q+ ]/ N9 q
similar to bonds, CDs trading in the secondary market have different value at different times,
8 j8 I/ z! @9 M: }: }) unormally the value is calculated by adding it's principle and interest.
- Q* {  _0 Q/ y0 v# M1 f, I/ t7 Eeg. the value of the mortgage+the interests to be recieved in the future. 9 k% m: }) H0 ^& S8 B) D: r
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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/ U! E" \: \/ r0 l" H& Mim not quite sure if the multiplier effect does really matter in this case.
0 S  |! W9 H; w) d# U$ Din stock market, it's the demand and supply pushing the price up/downwards.  l, t$ {' ~; q4 P0 u" a! l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 J2 _4 N/ p3 n. A& ?$ p# {A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' L7 i3 W0 Y- ]9 [2 V! jThe 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 N4 g5 Z3 V+ U! a$ e
but the value of their assets did really drop significantly.) \5 _0 D' |( G

# y8 G5 r( s/ d, H[ 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
- F* T0 x( d; L  dRefer to last example,( g9 Y8 ]  m  j( s: d
that means bank A have no money because we borrow 10 dollars from bank A ; W: K7 C3 x3 J3 k2 k1 {
Because bank A doesnt have enough cash on hand
' U6 c7 z: x$ h9 b, Ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ P1 M: A* ]# f0 ]. n0 XA->B->C->D->E, M# [) O* v* w( V; P" p/ R
so does it mean if E failed to pay D,
9 a# W3 U7 n, jall the B,C,D,E have to go bankrupt?
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+ o8 s! v5 K8 y+ }" [' g; A6 m' O$ \6 W: ~4 `" R
the multiplier just tell how much money created in a whole economy,
& Y3 ?5 m6 u5 Rin this case it doesnt really matter how much money is created, 7 U, a2 z& R/ i  m
it's the problem of the debt itself.
( s6 f, j8 v- p# H( _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. R3 S9 D5 E3 V% p$ N" h0 c
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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% W( J9 r) y8 r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6 z% V+ [( [3 e8 O% p7 B

. I0 ?; _+ H' y) T5 PThanks

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那些根本係 紙上財富  
, h7 v/ j* n0 z& O3 Z3 D8 N& C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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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
0 a# y5 O9 R! z- i; \& t當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( b7 m) i4 k- T$ f8 ~( R. o6 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! Q  [' F+ L/ S- `$ j6 r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& H  v* O: Z- i' i- S
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! O# f/ q4 v- f9 j3 |9 e2 B
計番回報率就已經係50%,所以可以好好賺
) y  D  t0 X# p前提係銀行之間要互相信任先可以咁樣借法
( A! C2 u6 g  b' Y- }8 L: J; |# ?同埋個市場既前境要係好先得
) A, Z% q- [& J+ d( e1 i) Y但當經濟一差,公司估值趺了,物價不升反趺
- f$ w3 N: q0 M6 {9 u例如剛才說10蚊的, 趺到得番9蚊,
$ A, z' B- O3 A( b8 c咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% h& G' C. c( P" X, L' o: u所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 9 S3 V" X: i$ X- 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,
. }8 ?0 J# H7 W1 U+ s+ Z' v# j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 v/ U3 U+ m& \0 a
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
' U3 G8 i- L5 d" Q) K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
: m& m; f% s! q- @唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 v5 H' s* x% C! D) j5 ^6 l! }
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ x! Y3 j' q$ P! T$ V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
) A; x$ n9 z8 t. B咁你話d錢蒸發左去邊? ...

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正係咁樣8 x" N6 l6 O" n4 t, n
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& H$ s* l8 e0 W, K" p
分分鐘佢地唔使還錢
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6 Y) r8 q1 {9 b4 L0 z2 p, J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,8 S+ |2 i; V) c  ^% X
連國家都係問人借, 不停發債券, 印鈔票
5 L6 ~3 X0 Q- g( G) e" V9 p8 S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ B1 M$ o/ d# 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.gif8 C$ M8 m. o# ?) J/ X# R
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 g. j, d! p4 C* F% @7 z
因為以前未生產, 先消費
7 z$ h' J( M% [而家就要多生產, 少消費