0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* W  i2 ?) a5 U8 oWhy bank will sell 借據給第三者???, Q! a: t9 Z/ J! w6 _- D4 `
I was so confused.....

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2 V$ B# H( l# v3 X) {$ z講到尾都係賺錢3 x* N0 Q; @' K7 i( h% a  D
so銀行可以不斷放款, f1 L+ \7 l* Z9 u% m/ D$ Z
美國的房貸問題散佈到全世界
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' M. @+ A6 h( n/ M* b* amortgage loan ) v+ C/ ]9 }3 k
>conduit
: }  x8 E* x  ?' {: `2 R0 u>RMBS(Residential Mortgage Backed Securities)/ _2 y( Q4 m4 b) G0 A% k
>arranger
% x+ D) {; m" i( ~# P>CDO(Collateralized Debt Obligation)
! @$ ?2 Z% `7 e# o  J最後去到投資者

Kev

i thought it is the reason of rate of return.
3 }, @9 a( ~' j) I5 y/ LCDs could have different ratings, AAA -> F,- F8 T& S) Q9 Z  V: @/ o5 N
more risky ones would have higher premium (interest rate) as a compensation for an investment." S& @. X9 _. g/ i4 k8 G
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ T% v( M( w  r9 X: `& M% ^$ B0 Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& D  X, E2 \+ Y6 E! F# ]/ ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* U  z. _# G! c0 n# Z
similar to bonds, CDs trading in the secondary market have different value at different times,  r8 r& h: A& R" ?+ |" z
normally the value is calculated by adding it's principle and interest. ! k0 k% K0 \* X" U& d
eg. the value of the mortgage+the interests to be recieved in the future.
! S  i6 m* M: ^" I1 ]5 Wbanks 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.8 m- R/ M* J  ~' J) p
in stock market, it's the demand and supply pushing the price up/downwards.
: ?3 L7 o7 p* x5 e0 XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# H, V: C" ?" r8 q; E# IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- F8 S8 n  ]% W. P
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.
  }, g- `1 J* lbut 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
3 P8 W7 D6 H( J' JRefer to last example,
9 J: B, K, x. q" p; Nthat means bank A have no money because we borrow 10 dollars from bank A 2 c9 G4 F" q. S# i: v* p/ c
Because bank A doesnt have enough cash on hand 4 |; H! [. p' c7 X9 Y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; U- y! c5 @, H4 j+ k2 i6 C
so does it mean if E failed to pay D, ) M+ y1 Z# p  i+ d% q) R
all the B,C,D,E have to go bankrupt?; P3 k8 N6 `: ^3 i1 @

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" j1 Z8 B3 P5 Q" V7 m- `the multiplier just tell how much money created in a whole economy,
' d) r. G8 k+ |5 }9 v4 rin this case it doesnt really matter how much money is created, 5 s- R6 I5 ^# [" Q
it's the problem of the debt itself.8 A, o5 T3 [6 ^1 ~- A, e
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  v9 R% X2 R% ~1 `
小弟一直都唔明...+ n0 W: D& W: n. f% S

% u# k; }8 m2 B9 N7 x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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* I+ D/ y2 W$ O3 jThanks

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那些根本係 紙上財富  
5 \6 d0 e/ B- k# ^( w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  D+ t; D/ N$ c' \

) V/ _) q5 @5 M6 y4 R& y3 @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- n; ?8 t. V& t6 T6 r" }2 x$ Z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 o7 G3 z2 A) j
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  S$ S" E. X; m
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: d: [+ L- j: _$ G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, l* L# K  S- M. e/ R1 x計番回報率就已經係50%,所以可以好好賺1 r7 d6 u) U/ C/ e3 E1 Z2 T0 ^
前提係銀行之間要互相信任先可以咁樣借法% F$ t% |( n/ x/ M) ^) b
同埋個市場既前境要係好先得
2 t/ ]& c$ R8 R1 H+ `但當經濟一差,公司估值趺了,物價不升反趺
& ?6 K( `/ a* V0 ^( j  l例如剛才說10蚊的, 趺到得番9蚊,   z3 h* L6 ?( x: K. y5 y( Q8 G1 b
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) }* m. [- @0 I- T
所以你就會覺得D錢好似蒸發哂咁! N7 B) z2 ^/ I$ p% i4 h5 X

6 P. x8 _" S; J) R! |' e; K你都可以當標野咁諗, 個樣野多人可以狂升值, + G# j# S# @. Y, K
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,
9 E: k& @* d4 o. g; G$ v+ h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * z% I! F: p. S! `
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 L+ ]6 V- o1 W& u6 V; ?! V& q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
, w" F$ T) r6 e" [* w唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, k) U& v. p$ T  E8 ]# e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! Z  Z+ X7 @# B9 Z" z# v: 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: Y. y. X& c8 m* B( l0 Y
咁你話d錢蒸發左去邊? ...

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2 Y$ e$ H$ Q) X* t* I' Y正係咁樣0 }$ g& l/ Q( j6 N+ X6 m' P/ ]
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
+ x1 t  r7 L/ A( H. c1 e+ H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,6 Y$ a: t* u* ]
連國家都係問人借, 不停發債券, 印鈔票
" d* M! _- a: J4 |/ O1 S- g( ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! P- Y$ v# q- J! h2 N* ?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; E9 e! B' {2 ]0 k" P, h4 J" i
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- Q: X9 w4 G6 Z! J其實係...5 n+ E5 C3 C6 L$ |, `5 t
因為以前未生產, 先消費
/ q  ~. t; g' J' Y而家就要多生產, 少消費