0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ p, E4 ^% _( V+ t4 o. |! x
Why bank will sell 借據給第三者???
& T6 v& {: N7 u! E& A$ ]I was so confused.....

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( f% v% @. O4 u- K講到尾都係賺錢7 e8 ^7 j' D7 M
so銀行可以不斷放款' V) D$ @4 b. i( i
美國的房貸問題散佈到全世界' O% S0 B# U0 D5 `

$ x/ k$ }. x5 O, G) ]& {5 c# `! qmortgage loan
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>RMBS(Residential Mortgage Backed Securities)( H/ q+ i$ ], _1 I
>arranger
* K  q# y3 G% F( j* y) x0 D>CDO(Collateralized Debt Obligation)
) [2 R2 b2 y$ Z. H最後去到投資者

Kev

i thought it is the reason of rate of return.
0 j9 g9 ?" `5 S) C. \CDs could have different ratings, AAA -> F,/ b3 f& [0 Q2 ^* J
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 B- I, ?/ Y# c0 N9 lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 r: u' V. w: F5 `3 y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' L( W! v" t6 ?
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' g' Q7 v$ w: Zsimilar to bonds, CDs trading in the secondary market have different value at different times,% d; h; i0 e7 m/ Q% g* K7 A
normally the value is calculated by adding it's principle and interest.
: ], B- R' r3 v% Y: Y8 g( ~6 ~$ C3 o* J& Neg. the value of the mortgage+the interests to be recieved in the future. / U0 S$ z4 D" n3 I# {
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.
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) J6 Q) J3 `4 Vim not quite sure if the multiplier effect does really matter in this case.
* w% C) n: r" qin stock market, it's the demand and supply pushing the price up/downwards./ f: o5 @5 t/ R" C, h0 s# `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
2 }& E- f7 j) ?/ r$ h6 {3 _% p0 D& ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: U* G9 _5 D/ z1 p$ z: i/ s) K7 s" 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.
0 Y- S% J( F( ibut the value of their assets did really drop significantly.
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6 b- T( y4 U7 t! A* n[ 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
4 s9 Q! B9 C3 _9 t# z+ |6 pRefer to last example,3 s: I8 ]4 y' u; J" a9 W$ `2 i  e
that means bank A have no money because we borrow 10 dollars from bank A 2 v) J' Z5 h; T4 v" `9 r) ~$ k
Because bank A doesnt have enough cash on hand 6 h/ J& z+ H# @9 L9 F) B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: E  ^1 E5 n/ }0 Jso does it mean if E failed to pay D, - H+ R- X( q# h8 b6 y
all the B,C,D,E have to go bankrupt?# Y9 a2 C8 l( a9 E- j

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6 p* r' d/ ]2 U; ?1 `the multiplier just tell how much money created in a whole economy,
# f: x$ z* x+ B! iin this case it doesnt really matter how much money is created, - S& t9 E& W5 F9 f  _2 V2 l
it's the problem of the debt itself.
5 Q9 F3 a" @$ f7 v2 w" 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* s! }/ L* C( t
小弟一直都唔明...
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3 r% }2 s% {: G1 j. B$ o; g全世界都蝕錢，咁邊個賺緊錢呢?; ~- }8 Y1 H# j4 W- f" q5 t

3 n' ]% k' S3 k無可能淨係有人蝕錢無人賺架嘛...% f; U9 G: @/ x  O% [8 z8 C

2 ^1 ~  I, e: u敬請各師兄解答
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# u: ], `& J- P( U1 B8 p- q' uThanks

$ n+ Y8 O4 ^( h; i9 P3 w: m
那些根本係 紙上財富  
" m- [. ]: e' u: U! V, t& r. J0 f2 m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! Z% D8 M# x+ e$ I2 [: J1 \
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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2 I# C7 l7 o1 u7 C5 p! x
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" T6 v0 F' m) W
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 o) e0 B2 _* t% N個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* `2 W. X% q) f& G2 @+ U9 E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," A; ]) P6 [. A5 w0 B! j
計番回報率就已經係50%,所以可以好好賺: D6 ?' \; `6 p' d
前提係銀行之間要互相信任先可以咁樣借法
8 j# E+ _+ p3 c2 N4 D3 J# t5 x7 P同埋個市場既前境要係好先得
; J) o) U* [2 T% p& B但當經濟一差,公司估值趺了,物價不升反趺
8 ~9 _0 {; l& {; C+ X+ c例如剛才說10蚊的, 趺到得番9蚊, 9 z$ ?7 d  B7 l9 f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! r1 f' f1 d9 r( [0 r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, ' s" m  |% z. M  l3 y
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,
; u9 Z; |+ D6 y0 r6 y6 R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 i# t* }" u& Q6 i1 `+ \# A2 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6 y( H3 I0 f1 A! i
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
3 q9 y5 t, g# g* b& \& k, _! k唔係d錢蒸發, 而係比美國佬洗晒未來錢, " e3 t$ B% ?8 D2 B: x4 R% K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 a" E0 x( G; @  w- q6 D% 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
  i. Z! _& {( c5 l' U9 |& v咁你話d錢蒸發左去邊? ...

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4 N  H1 J& x0 J9 ?" r  f正係咁樣, l" T9 `8 o7 U# Q5 z. p
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
6 v9 S  S( W& G0 [9 y2 [分分鐘佢地唔使還錢
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$ m4 l9 T- H$ E4 h  m5 Y4 @; y6 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,; B  \  X5 m! z- r
連國家都係問人借, 不停發債券, 印鈔票" i3 K# I7 H) Q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 W% y; b7 x% K( _9 w& o, W8 i
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
- m; q# v: `8 h! a! K) I咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 a; r) K$ ]: R因為以前未生產, 先消費
* U, _+ q3 [4 T- X: t* ]- b而家就要多生產, 少消費