0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 L% {  [1 O5 `% D' cWhy bank will sell 借據給第三者???$ j5 _: B1 k9 ~
I was so confused.....

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+ k0 `/ L4 R0 j) m講到尾都係賺錢
! W2 a- u7 Y6 Y$ j3 Wso銀行可以不斷放款
" B/ [1 x' O# O3 t9 v2 p: _: ^' p美國的房貸問題散佈到全世界
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mortgage loan ( ^. G. Y& v& [0 u2 h8 N+ F
>conduit4 f5 F3 b9 o) k' `7 S; }, O
>RMBS(Residential Mortgage Backed Securities)
+ V4 g$ y3 A" s, h+ H1 A5 c>arranger
0 {; i% o2 b- b$ i' h. P" y>CDO(Collateralized Debt Obligation)7 d9 Y- s  G  ]$ K5 _5 V! F/ X
最後去到投資者

Kev

i thought it is the reason of rate of return.- f" F, P5 Z- S9 i, R. z) H
CDs could have different ratings, AAA -> F,
" n+ g- z7 l# v. a- s5 ]more risky ones would have higher premium (interest rate) as a compensation for an investment.& |0 G# p& u2 v8 v- w* k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 Z, S0 ^) t: h5 u  win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) U4 c2 U( ~9 z) i7 [) ~- S0 P0 P
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ Q$ |2 b5 E. U( s& [! Q
similar to bonds, CDs trading in the secondary market have different value at different times,
. ?8 T$ j3 t4 v$ O3 h! N. a% a' Gnormally the value is calculated by adding it's principle and interest. & g8 s1 ^6 k" h2 ~/ U
eg. the value of the mortgage+the interests to be recieved in the future. + k8 y& A. J! `  Y; q- |( u
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.+ {3 l, \6 w  @8 c
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im not quite sure if the multiplier effect does really matter in this case.
" a* S7 x8 Y5 F: R7 ]/ ein stock market, it's the demand and supply pushing the price up/downwards.+ r+ ~! r- T5 \& U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," f. i! Q: F5 z. A  K8 |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 @1 X- h3 b, w5 `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. " m3 y7 v0 r, F0 ]5 F
but the value of their assets did really drop significantly.# c1 n7 O4 n' M( G* }' d

2 f5 d& b; t' O+ Q[ 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
8 ]% B& t% W) lRefer to last example,
8 L: j9 w! k$ A, c6 Rthat means bank A have no money because we borrow 10 dollars from bank A
6 G5 L8 M+ i( k% H, y. qBecause bank A doesnt have enough cash on hand
+ O2 x; q" D" X& \; x4 ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 r2 R2 V; Z: J/ HA->B->C->D->E
% X( p8 j( u/ E9 [' mso does it mean if E failed to pay D, ' K1 o9 b- ^. P) Y. D! P) E
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, 4 d) q8 B+ D0 ]" X
in this case it doesnt really matter how much money is created, ' d# U' k9 y0 H
it's the problem of the debt itself.5 x1 C& e# X, `' X6 E5 ~5 h
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
; e, k0 P1 E* f6 E小弟一直都唔明...; C2 K% e3 V2 ?( y4 Y1 p& x' Y) l

) P6 _3 F7 N% l( b' i+ k$ ?& }全世界都蝕錢，咁邊個賺緊錢呢?
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% [+ @) f  `& I$ ]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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: [3 f$ G% O% O+ ?, v5 V$ y0 v5 `Thanks

# x5 k! a, H# Y
那些根本係 紙上財富  
) b! B- D7 A. C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
  P- M  M1 z, Q  G6 R0 F# k當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& h: ?$ V8 i2 C' z+ i$ s
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, d5 U7 {6 C; D0 P7 o5 G4 e
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# r7 O" T/ x$ N5 i扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 Z7 v* W" I+ b, i$ \: X4 y. b& ?, k
計番回報率就已經係50%,所以可以好好賺
3 O" {% {  }9 ]前提係銀行之間要互相信任先可以咁樣借法, \1 Z7 e& w8 r
同埋個市場既前境要係好先得
- h& J$ |" Y) s( P但當經濟一差,公司估值趺了,物價不升反趺
1 F% ?0 w/ [. ^例如剛才說10蚊的, 趺到得番9蚊,
- B+ |' [5 h3 S& W( N  q5 I咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ r3 ?( y1 d* O, F) i! ^
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, ) X/ t1 R7 _4 y$ k; H& e5 n
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, 6 T, k2 F! _0 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 F- u% b# H* }3 Q9 e2 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1 x7 U" L3 `) R% v) M, T3 Z
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
+ d6 E* B. G5 Z唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% ?  x; B: t3 c  U0 @/ M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" N; s( e' P( ~2 K8 {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9 I2 V5 H! r/ k# ?0 u
咁你話d錢蒸發左去邊? ...

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5 w" \# \, G- t8 z! O3 B8 e正係咁樣2 G2 {, F% t" V7 F6 O
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- I. t1 j3 o$ E( Q& ?5 N/ D+ X
分分鐘佢地唔使還錢/ h( w4 L! H0 ~5 U9 M0 {

! ~# J. T% i! ~" J  l* D, {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 ]$ P4 k5 b" i
連國家都係問人借, 不停發債券, 印鈔票5 F9 Q# N+ l& V( h( ?9 P3 o! q% C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 S, ~% l( F! f+ N$ b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.gif9 ?4 y8 }/ d8 x$ K3 S. P' C
咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 h  M3 [& R( {% u$ }8 u其實係...
) T' R2 D: E5 W6 N因為以前未生產, 先消費
, U/ s: C% K- A  L% k1 Q而家就要多生產, 少消費