0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 t/ b' b" Q5 ]Why bank will sell 借據給第三者???5 o* T/ r9 \/ A9 U# m
I was so confused.....

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講到尾都係賺錢# \8 C, Y0 q: Q
so銀行可以不斷放款
& a8 n% E7 v0 T6 t8 K4 J0 ~美國的房貸問題散佈到全世界4 O9 r$ O& l* P4 H& B
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mortgage loan
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1 J/ ~' p, s9 W: }1 w; }' W5 @>RMBS(Residential Mortgage Backed Securities): e/ L6 f3 r( N3 T! ^( z, l
>arranger
) I4 A3 N2 |" a9 r>CDO(Collateralized Debt Obligation)/ w- }) S9 s% T% V
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ @7 \5 p8 w' U7 o2 H" g8 Z5 J1 |$ |CDs could have different ratings, AAA -> F,
% s) e( Z$ Q$ Lmore risky ones would have higher premium (interest rate) as a compensation for an investment.
9 A3 b3 L: t+ Z5 vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 ?# W- L# R' N: x# \+ C' P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' b) N0 n2 k" x& X, b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  K& x2 N+ O9 T$ k. C+ D* o0 Nsimilar to bonds, CDs trading in the secondary market have different value at different times,9 c8 C6 Q- ?, `7 n5 m" D9 B+ _
normally the value is calculated by adding it's principle and interest.
, _1 l$ e3 ^' N+ geg. the value of the mortgage+the interests to be recieved in the future. ! t" Y/ T( z3 Y7 B
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.* Q4 D& Y3 S  s) j

- X; G5 e9 b: l( n- y, xim not quite sure if the multiplier effect does really matter in this case.1 x1 @2 o. e0 z( }" p
in stock market, it's the demand and supply pushing the price up/downwards.5 S# C( a9 i- k! G5 o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* [/ [4 r8 K( ~. w$ X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) f/ m" ?) Z2 A( `0 ~( g8 d0 i! x
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.
$ i& P+ ~# `$ B# qbut the value of their assets did really drop significantly.- y, c* s% P! @! @' Y- S" x% U
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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, z  c/ `2 E5 X2 ?2 d# |5 L
Refer to last example,
' R/ b9 A$ Y' o4 Cthat means bank A have no money because we borrow 10 dollars from bank A
3 f9 s# L; O3 JBecause bank A doesnt have enough cash on hand 7 i) q: A0 ~4 I2 U
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  z  ^6 T1 ^6 g0 MA->B->C->D->E
6 Q9 f# z9 \1 nso does it mean if E failed to pay D,
2 k% ?5 s; K. @- t$ A6 Kall the B,C,D,E have to go bankrupt?% D3 w# V+ U- D5 {5 R6 c
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the multiplier just tell how much money created in a whole economy,
. }6 u7 c' d( I8 i2 min this case it doesnt really matter how much money is created,
+ h% `& n9 m- n/ x8 Hit's the problem of the debt itself.
. p/ j6 _) O) u/ h  F( o/ Ythe 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( H8 Q" Q5 o1 p/ ^( z& M
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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* t6 B4 V% y" `) C, j& [9 @4 P無可能淨係有人蝕錢無人賺架嘛...2 I- \& I' Q' {% m7 Q

4 ]( S# |9 q* R( y敬請各師兄解答
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1 F: ^. _$ ~2 C* o2 Q! ~7 K: x+ ]8 HThanks

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那些根本係 紙上財富  ' W( X: M6 C) k. ~2 ^
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: p' [% C% \' O' U4 {- Y1 ~3 }
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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
9 J: k4 v$ m6 R當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) u6 ~2 c# T5 v5 B4 _3 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
' E) F. o# D- K, [+ b( S2 U+ `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# V) ^4 J5 r! ^
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( O( [3 E3 m' ^5 l計番回報率就已經係50%,所以可以好好賺4 L0 [! h& K( f$ t0 l* y
前提係銀行之間要互相信任先可以咁樣借法
5 J5 w2 i3 M7 Y) c  x  Q同埋個市場既前境要係好先得
! i# g" e/ n" Y但當經濟一差,公司估值趺了,物價不升反趺
2 e8 l# K% ?% K: P' Y4 J例如剛才說10蚊的, 趺到得番9蚊,
; g# N& y8 b) L2 R) f咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* x7 E; }9 h! \" k$ |6 n" q/ ^  u
所以你就會覺得D錢好似蒸發哂咁
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, n( h* E9 T, T6 J9 O# u. I你都可以當標野咁諗, 個樣野多人可以狂升值, ) p8 J9 b7 v$ t) |8 D3 ?
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, ' _% N' Q  X3 b1 z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- K$ D3 G" Y2 e) i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4 T6 v5 L& p! ]
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" N% C, G4 u- l. |/ `3 B
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. e( p- z; e, m" r* l& a% C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % j2 n2 n" Q% `7 _/ x' N  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
1 y2 M" j8 t1 j. r咁你話d錢蒸發左去邊? ...

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( w. _/ s0 f6 [$ f" W2 S! u正係咁樣8 w1 a# w! S& |
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- }3 P$ ?$ J& N" S5 Z* F6 ~, o
分分鐘佢地唔使還錢3 Z: o  C: b& B. R

7 }: b+ E: Q+ b$ Z; U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,
/ _: _! \  ?. U, ^! B: T; V4 j連國家都係問人借, 不停發債券, 印鈔票( H$ c8 Z) ^* i# W
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 R& C- G$ E1 [6 |& {+ S+ [/ ]- A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
& F2 J2 ~5 l+ k" [0 I咁而家"爆哂煲"算唔算先至係變番"正常"???

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, r( ?/ z. B7 R, E其實係...6 s* u- L3 P$ y! `& R% r* h1 B# C& g  y
因為以前未生產, 先消費6 E: P# Z% N: J6 g* k5 U. @
而家就要多生產, 少消費