0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ D; X5 d5 w! H2 h1 R: UWhy bank will sell 借據給第三者???
, V% Z5 h0 F& D8 hI was so confused.....

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講到尾都係賺錢
  Z3 E6 ?7 G  pso銀行可以不斷放款/ H) j% [& k; W) H; K4 B
美國的房貸問題散佈到全世界
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3 [8 e  c1 Y. i/ X7 Qmortgage loan
6 I* V: _3 m! i3 E2 Z>conduit  q5 ]4 r2 a. a' u  F8 m
>RMBS(Residential Mortgage Backed Securities)! Q! Z) q" Y2 z; s! o% }+ I
>arranger9 ?2 P1 z& u8 X7 j+ c
>CDO(Collateralized Debt Obligation)
3 I8 x" ?" z: T$ K8 F最後去到投資者

Kev

i thought it is the reason of rate of return.- a' R9 h9 k+ W1 r
CDs could have different ratings, AAA -> F,2 [7 t8 {; B. R+ ^5 C: ^$ k2 N
more risky ones would have higher premium (interest rate) as a compensation for an investment.
; {4 Y( x* {, M3 ~& M. @/ f% smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 x9 G0 R* k; `2 X& |. c2 o' H' i3 f
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# J9 D$ l  i( H3 f4 M; BAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ u# F, i/ n' T# l- b- j  ~4 a
similar to bonds, CDs trading in the secondary market have different value at different times,& |+ U' T( J2 ^( |4 F/ J
normally the value is calculated by adding it's principle and interest.
& u1 t8 H  B5 ^2 O! veg. the value of the mortgage+the interests to be recieved in the future. 9 C1 {+ K+ v4 y4 [0 K, T
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.4 q" s: K3 M' \! U1 u

, e/ |8 o; y' X5 k1 cim not quite sure if the multiplier effect does really matter in this case.3 N8 `& b, R% p9 s8 ^
in stock market, it's the demand and supply pushing the price up/downwards.
7 e, \1 f. ]  ]7 {$ XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ f& N( e* X' [+ w, eA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ U9 g0 l: i8 n9 b7 P. h0 g, E
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. ; w! s) g6 [) I2 |
but the value of their assets did really drop significantly.
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. _) Q" \9 n" a4 p* p$ g8 |[ 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
1 G( d$ H4 Y3 q" {. x2 z9 ~Refer to last example,
6 u, E3 S; L1 I$ p6 o( J' a  Fthat means bank A have no money because we borrow 10 dollars from bank A " q6 u) Y( N6 I5 |+ P% m& @
Because bank A doesnt have enough cash on hand
$ x/ S. d2 G( w% }" A! Btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
6 p  y# M" }8 Y1 Bso does it mean if E failed to pay D, 9 Z( K, b! e) W
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, 7 k4 ~, A* W) J6 u; K+ g! c+ X
in this case it doesnt really matter how much money is created, , i9 F. T4 w' C% b3 J& g- B
it's the problem of the debt itself.
+ Q; E9 x! n. b% Ithe 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" A* \6 _3 b% v4 X, b
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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無可能淨係有人蝕錢無人賺架嘛...4 a5 r: T: h& w& g- f
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敬請各師兄解答, u" R' e! a/ @2 ?

6 }+ p0 _# O# n; q" I" b: V1 S% l& K* iThanks

; o6 _; P' m) }! q1 g那些根本係 紙上財富  
! a- U5 D0 s4 _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- D( |2 |& u3 H. z7 O
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# o; g8 t% y4 E+ P$ P' {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# p+ V: I9 \8 U1 r0 |
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 Q0 V% N5 b  e6 t$ u扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# Y3 z( R1 V- F' H9 L$ R計番回報率就已經係50%,所以可以好好賺
: f  Q! W" ~% Z/ g7 W前提係銀行之間要互相信任先可以咁樣借法2 L$ Y2 }2 S* w1 b
同埋個市場既前境要係好先得8 Q" _8 \% ?9 |9 \* M
但當經濟一差,公司估值趺了,物價不升反趺/ }: n) i5 q; f( X
例如剛才說10蚊的, 趺到得番9蚊, " e% c7 B+ F7 L& S" c6 J- I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
5 ]- l, G5 U" r$ H所以你就會覺得D錢好似蒸發哂咁
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* j- w% I2 D! S. D. H- N6 P你都可以當標野咁諗, 個樣野多人可以狂升值,
7 B; S4 h! l/ M6 L4 P: 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,
0 e) W! V( v8 e$ v: b, p# }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 V" B9 I) s' q: n8 U& G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/ K! ~! q4 [4 B6 V1 _; u/ N
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# J- l! Z! M: Y. Z
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 o! o# q1 a, w4 L6 U: W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 f" {$ N8 g: R4 d
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# U0 c4 m% z( N% C; j% c# t9 {
咁你話d錢蒸發左去邊? ...

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正係咁樣
& D, v9 N/ }' I1 ]0 T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
9 W% w) E2 Q" S% C2 t5 \: v. I0 I& L分分鐘佢地唔使還錢
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# p3 @6 o+ L4 H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,
4 a5 i6 Y! A. U. V& U7 _連國家都係問人借, 不停發債券, 印鈔票
8 T, S0 y  M8 \# h* H& l一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; G. n( ?3 k2 w# p+ Q' g  |4 G
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. O0 m  g2 F* V; I: W) r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- ^. r- V" V( R+ \, {其實係...
( x- ~+ y2 ^% b  U7 T: r因為以前未生產, 先消費! ]6 x% D- S4 E- j% E3 W
而家就要多生產, 少消費