0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 l$ J5 e4 h# l" A4 |3 f; FWhy bank will sell 借據給第三者???9 z  ?9 t( G) W8 g$ ?- e7 e, G
I was so confused.....

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5 x2 j& N+ p9 c8 p講到尾都係賺錢
8 g& p" Y- j  _# y4 h/ gso銀行可以不斷放款' v5 [, @: T9 G. |! P/ R
美國的房貸問題散佈到全世界
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mortgage loan 8 C" {2 J& p3 x5 X
>conduit4 s. k) V4 D/ L
>RMBS(Residential Mortgage Backed Securities)# ~2 _* K1 Y  [* j( z; Q
>arranger: w0 o$ @3 o3 u3 `, z
>CDO(Collateralized Debt Obligation)
) q; ?; M8 L# B8 K) u最後去到投資者

Kev

i thought it is the reason of rate of return.  H* f! u* M4 i& ^+ Q, Y+ I" r
CDs could have different ratings, AAA -> F,- a$ z9 y1 m! y# d& u# P- k
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 Y. v) J. G' j! Q% j& f
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. z+ X) F% u! Q( E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; H; Z6 l5 N( vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  H- W: y9 b1 v; t9 ]( U
similar to bonds, CDs trading in the secondary market have different value at different times,
) p( e- h7 l* a! m0 Hnormally the value is calculated by adding it's principle and interest.
& V5 c: N4 {( h: K* K% H" deg. the value of the mortgage+the interests to be recieved in the future.
( J* ]( E$ }$ d8 p- e- W9 X. ^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., S, T* I, {" }" [$ V( b) s, v

( E5 Y- x: X( wim not quite sure if the multiplier effect does really matter in this case.
, U( r. A& u0 e: B3 Jin stock market, it's the demand and supply pushing the price up/downwards.
9 _# \: g  J2 [* E; ?2 tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 b  M) @3 g1 ]8 M( b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 d0 h: r6 \3 B" g
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. 8 p  [2 o1 }4 g/ W/ w# y* e
but the value of their assets did really drop significantly.
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8 H1 J- _6 `; D[ 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
' \& ^  G4 @6 D& {9 N% m) fRefer to last example,) H: m& F+ H8 c6 R$ p, ]4 L" t' Q" p
that means bank A have no money because we borrow 10 dollars from bank A 5 P: [/ I- F# L: P4 N5 c
Because bank A doesnt have enough cash on hand
4 Z6 \# A3 I6 V1 _% w+ H4 \/ h9 jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 f% w6 {  |/ l: @/ ^: V; N& EA->B->C->D->E
3 y" C9 j3 }3 Pso does it mean if E failed to pay D,
6 W  _3 ~# l9 L6 X. \: |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,
1 `( A* U$ |) x0 Z' u0 c1 qin this case it doesnt really matter how much money is created, 3 p% c9 O# j# X! _% \6 E
it's the problem of the debt itself.4 S: Q& Q( W* L9 y8 i
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
0 }2 c9 C) M0 c9 V6 v3 W小弟一直都唔明...* u, }. r' K9 I# `* w( x/ K
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全世界都蝕錢，咁邊個賺緊錢呢?
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! z$ u. p  q- s/ [+ W1 ]' _無可能淨係有人蝕錢無人賺架嘛..." `* d5 P, Z; I% p9 D% J0 [, x7 p
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敬請各師兄解答5 g& i0 b( @9 @8 b! f% W

2 I+ ?1 Y# j0 T. @+ aThanks

! V  L. K0 O+ D5 w那些根本係 紙上財富  4 u) c9 g  \8 v' a$ }) c3 u9 H# \
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, R8 ~7 l- Q! n2 w% k" [# k: M' R

! v8 S# I- R) L7 O' C* b' xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. E! W0 g. P7 k9 \! b' @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; c6 T( e' x: \& U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
5 x& K. p1 m* a8 A" J* `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' O, q, P8 R  q; q/ |: S. J扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# U+ P+ S& m  p計番回報率就已經係50%,所以可以好好賺
' ?: u5 A0 l" j) R# K; Z前提係銀行之間要互相信任先可以咁樣借法
+ g) B7 I4 K' u; P同埋個市場既前境要係好先得, G+ C( s* q4 n
但當經濟一差,公司估值趺了,物價不升反趺
4 H' U6 }; g1 Z例如剛才說10蚊的, 趺到得番9蚊,
* _  j6 [: T5 f: ~. J2 V! M# s4 ?7 s咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% b$ c# `2 R  B0 Z& M) y
所以你就會覺得D錢好似蒸發哂咁
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" I9 b3 R( b: s" k5 A6 u; K  Q你都可以當標野咁諗, 個樣野多人可以狂升值, ! o  k7 \  R: E. O$ @! h, D
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,
' n8 ]9 R/ Y. `+ `" j9 L% S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + m# T0 C3 c$ X) ^/ e/ X' w5 _
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
) [$ b/ m0 G! B/ o# 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. o1 m* K. u$ `& D5 ^2 T; M
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! l  {% z+ m: f/ F/ |, {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 n8 j5 S4 r* r& N9 B
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 f& p& u$ S) D" M1 U6 a1 q- o咁你話d錢蒸發左去邊? ...

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1 |7 @# w# Z% Z* T4 L7 i9 K正係咁樣
1 j" E( w' W& |7 F- {& e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4 |2 R; I1 d! D
分分鐘佢地唔使還錢  E& F0 @3 ^$ C: F& n+ m% e; l9 X( j/ N- v
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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,6 @) E! u/ r" \( m9 L
連國家都係問人借, 不停發債券, 印鈔票5 D9 G* y* {; U' @: `9 @! E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* A6 n' b% x6 H- 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.gif4 e) F: Q6 w/ f
咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ f- I* c' G# q8 }+ b其實係.../ x% ^3 k8 U" m9 i9 f0 L9 w
因為以前未生產, 先消費
7 ?0 C$ B( j" r2 x& m: u5 _而家就要多生產, 少消費