0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; Y9 H  V0 V5 G5 ?Why bank will sell 借據給第三者???/ J: W, X! z; z! N8 i
I was so confused.....

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+ |6 \4 F4 r4 i4 B講到尾都係賺錢
' E3 z( N, }# `1 xso銀行可以不斷放款
0 n+ @- a& U- ~/ i美國的房貸問題散佈到全世界
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6 m% {" E# E- S8 X5 U8 u! Amortgage loan ' O0 m& F5 `3 R$ U0 ]" ?
>conduit
% S0 j% f- J) T, m>RMBS(Residential Mortgage Backed Securities)0 ~# R% j' W/ A1 P
>arranger
0 d% g3 V3 j7 P1 V% @8 g>CDO(Collateralized Debt Obligation)
1 F: I9 b7 `# @最後去到投資者

Kev

i thought it is the reason of rate of return.
# ?* m' e5 @* R0 O# GCDs could have different ratings, AAA -> F,
/ h$ o4 w. n% kmore risky ones would have higher premium (interest rate) as a compensation for an investment.
! F# d5 Z3 I$ A. E! U* z0 k2 Ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  P: v8 n  s+ uin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) }% r' p/ i: @" B4 `# X  p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  {$ x# q3 d& h1 gsimilar to bonds, CDs trading in the secondary market have different value at different times,
4 _8 `0 z5 G1 `normally the value is calculated by adding it's principle and interest. . l! v7 @* S# W5 P3 J
eg. the value of the mortgage+the interests to be recieved in the future. ! I& s& u3 W5 i2 e
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.
6 d& `- x( T, X& M% r9 r# gin stock market, it's the demand and supply pushing the price up/downwards.
7 Y& h. Q; f% m' q- uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ F) l. [/ |: b$ [# N# DA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- a; s0 X% {1 g* W8 @2 s5 D0 yThe 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.
1 X- ^7 p* F! R* k" K: i2 x+ dbut the value of their assets did really drop significantly.# v7 i2 w/ B+ h- L
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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+ d# g* `4 c) g. t7 a+ I4 W1 o
Refer to last example,
) R% b! M3 R) F  e; Wthat means bank A have no money because we borrow 10 dollars from bank A 1 T1 t. `* [( z! ~- A
Because bank A doesnt have enough cash on hand
" f" C. p: E2 R* w7 Ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E0 k. ~* h6 i+ H
so does it mean if E failed to pay D,
% B& U7 r2 s2 ?: L1 iall the B,C,D,E have to go bankrupt?
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' T5 k1 X) d5 k3 S, G/ lthe multiplier just tell how much money created in a whole economy, / \5 v' L' {! l0 e5 T  L6 ^" @. R
in this case it doesnt really matter how much money is created, ! c5 g/ _) ?, U1 p" x- q  p- o
it's the problem of the debt itself.
7 f7 u. w2 u, T+ |1 v% u3 x/ Othe 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* @4 v6 {4 H2 s+ }2 L" r
小弟一直都唔明...5 H7 `! L# g( E

1 S  b( r- b  ]) U# E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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; l! _& \  K& {& ]敬請各師兄解答0 E4 ^$ l: I* ~2 @* V# Q( T

: K- i' u. |: v' \0 hThanks

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那些根本係 紙上財富  
' b4 x5 @$ F/ E7 `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) X; i4 K$ F8 h" E, E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; [5 r0 {5 @+ z  {& L' }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
6 }! S  N' u2 e5 l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' W& C9 r- Q1 ~' l+ H: I, \
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: ~6 R5 [3 S" b- ]0 N1 ~
計番回報率就已經係50%,所以可以好好賺7 u: \, i& Z% }5 }$ [% s4 J
前提係銀行之間要互相信任先可以咁樣借法
& ]# z4 F1 X: L& V* u* U同埋個市場既前境要係好先得
: Y% F1 I+ x1 N+ L* L# o' ?' k但當經濟一差,公司估值趺了,物價不升反趺4 G) H5 n: @# v, L  ?& M0 T) C0 `$ s
例如剛才說10蚊的, 趺到得番9蚊,
. z0 i* N. m& \- O' b/ {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, i- `* \+ F6 w5 f( y) W5 R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,
. P. s6 _% N, v. v" n( D* f! R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,
" Q* ?# P( ^, B9 t# i: r1 {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 ~& U" L3 U0 E8 [( 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, L, o/ A  J9 y6 G% m- w, t' w: }
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.gif9 e4 C4 V* X# h8 I- e$ U
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; X. l/ P# ~( N. o$ u" D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, H  ^. e: E4 K# 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
+ d; c/ N  c2 h8 p" x: g咁你話d錢蒸發左去邊? ...

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正係咁樣
, B- j" C# ]8 S* C- n: z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
  Y- H9 u* {& A, O; Q! o7 S分分鐘佢地唔使還錢! p/ f% J* b7 m: T0 t
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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,
/ \1 d4 C5 A2 v9 d  r連國家都係問人借, 不停發債券, 印鈔票7 J" ]8 [- t. ?+ o. i+ z- W, E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. `# p9 `5 L5 q1 ?6 f& o/ a/ C
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
! x! r, }' i1 M咁而家"爆哂煲"算唔算先至係變番"正常"???

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  s7 P6 T( ?# l4 `0 I. \& K* Y% o其實係...
  }% _" a/ W0 N* }5 V因為以前未生產, 先消費* e3 c2 m4 p& }5 \7 y4 @2 R1 A6 z9 R
而家就要多生產, 少消費