0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  r1 {/ Z) L. I. wWhy bank will sell 借據給第三者???; t' I) N( j4 H- b- P: Y
I was so confused.....

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- {1 h5 h* s- A: C! i: ~9 F7 r/ D講到尾都係賺錢' T& S6 I& T% r8 {* e5 p
so銀行可以不斷放款
# d5 D+ j5 ?. j) V6 G8 ], q1 t美國的房貸問題散佈到全世界
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  \* L: Y# P: |5 c/ Cmortgage loan
# x6 x2 o/ v. y) }>conduit
6 U) {1 ^: \' U0 v3 a, I>RMBS(Residential Mortgage Backed Securities)6 u3 M  {5 m* a
>arranger. ~( T# C4 [9 D( l& G: d
>CDO(Collateralized Debt Obligation)
: M& V8 m, v! W" L/ Q# S. O4 F最後去到投資者

Kev

i thought it is the reason of rate of return.1 P8 Q2 x1 J  y5 O" {0 M- f; r& ~
CDs could have different ratings, AAA -> F,/ U" z% l- d% s& F+ `
more risky ones would have higher premium (interest rate) as a compensation for an investment.
; B& q9 H0 z# I3 amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, A0 q  f0 M7 y3 w6 g# l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. M) Z5 u3 x; @$ B3 uAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 Q( U& l' `7 t( j9 b7 u
similar to bonds, CDs trading in the secondary market have different value at different times,9 f1 m$ Q6 k$ n& ~
normally the value is calculated by adding it's principle and interest.
, I. X7 s' e' i! [$ J- geg. the value of the mortgage+the interests to be recieved in the future. ! x+ N- M$ v0 i9 d, p# k
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.+ a' o: ]% |# N! Q1 v$ C; v& j  G$ x

8 Z9 u6 J& ?; l# N$ kim not quite sure if the multiplier effect does really matter in this case.
1 v* N; P* z% V9 b. din stock market, it's the demand and supply pushing the price up/downwards.
( x0 z. s3 |- H, H4 D) uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- M- e: q& z2 M  OA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 Q+ k- A: v4 A3 O0 S. {
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. 6 V$ g. w! H4 A+ t& k0 \
but the value of their assets did really drop significantly.
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" q0 n8 C* D) ]6 S, @; m. i[ 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
' }' {7 X# J" v, {' D$ n6 h& j, ~: wRefer to last example,, S" h' `; |4 H4 ^. R' y
that means bank A have no money because we borrow 10 dollars from bank A 7 m3 T# F( T# N) ]( L* U& @. c6 {
Because bank A doesnt have enough cash on hand
0 _8 }6 r, A6 A7 D/ R* T- Atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
$ X8 h7 x7 F! S5 E( h" sso does it mean if E failed to pay D, . y4 u( Z: P" I( G
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, 9 l7 Y5 L/ [& Z7 q* P) z" c, i
in this case it doesnt really matter how much money is created,
$ w0 _* j# X( L( q& c0 T% Bit's the problem of the debt itself.1 H8 E/ U' q4 D7 s$ S
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' Y; K: y" k- q
小弟一直都唔明...
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) [2 D( K$ a# y5 k* Q; B  j全世界都蝕錢，咁邊個賺緊錢呢?- P% j, G' T. s9 W/ g8 Z
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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4 t$ l, h& D# Y9 J, i: T$ \" n- ]4 O9 D
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Thanks

' k, i% U% b" K$ ]  ]& j0 ?那些根本係 紙上財富  
% e, E0 N" w6 R$ c+ u8 \! n7 s! T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- M# G# X1 }+ T! n
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 n( Q$ S5 [3 `4 ]& F& @
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
# D/ o5 x- X  j0 H# `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( \, E' {0 U9 z4 \扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- J" k! F2 X( P" f; \7 I7 V2 S! I
計番回報率就已經係50%,所以可以好好賺
7 q. {. d3 h8 u  S- {, Y& y前提係銀行之間要互相信任先可以咁樣借法
/ v3 d! O. }  b1 z/ w同埋個市場既前境要係好先得# I) G; ^9 T) Z( |3 v
但當經濟一差,公司估值趺了,物價不升反趺
) y/ n' B2 t% G例如剛才說10蚊的, 趺到得番9蚊,
# i5 _7 a$ d1 B; x1 S6 W0 o咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  `' H/ z- r0 n
所以你就會覺得D錢好似蒸發哂咁# b( e0 i7 |( {/ B. W3 G$ E
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你都可以當標野咁諗, 個樣野多人可以狂升值, 0 @' {  C" ~. ~7 ]8 ]. z$ f
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 }4 w9 a9 E1 O+ d1 U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 ~2 ^& M5 t& h7 v% b) e; Y, x
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& N: e8 f8 h! r4 Y' {8 Y
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 n! _/ Z6 x0 @/ \, _$ c
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' @/ v/ ~2 k  i# r# ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 Y4 T, j% M5 r/ X, I/ 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
$ `; {% z2 I2 C* R- F7 |( y/ _咁你話d錢蒸發左去邊? ...

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+ }9 g) `6 s) f7 a8 w" G7 U8 [
正係咁樣
! l, @" ^6 K/ l; D- a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) R! j- k4 R4 Q分分鐘佢地唔使還錢
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) O- N! c  [* C2 n: C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,5 m  x, I! F4 i
連國家都係問人借, 不停發債券, 印鈔票
* I( F$ O  v  x$ s; @9 D( m+ t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 W: z% U4 N9 u+ @2 q" [3 R% H
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; s: I7 x/ c  Z( c* K% o9 P8 N
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..., c" Q: Z& u" \0 U8 m8 A, G5 N
因為以前未生產, 先消費
1 _- \# ]6 U. J8 Q. @8 M5 A而家就要多生產, 少消費