0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 V: e% w/ v9 kWhy bank will sell 借據給第三者???. Z9 c: D/ B$ W- }, k; d& l9 N
I was so confused.....

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講到尾都係賺錢7 T7 _- d9 {; ~9 D% x5 Y; e
so銀行可以不斷放款5 m% a/ h, l, d( S7 d0 y$ W7 T
美國的房貸問題散佈到全世界
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mortgage loan   _6 q$ p" z8 A$ |$ K
>conduit
& _8 N" ~8 D$ ]6 k>RMBS(Residential Mortgage Backed Securities)
# u( \* Z9 W: Z2 a8 |  f>arranger  }+ u% D. F# S1 e  a! ]) L
>CDO(Collateralized Debt Obligation)
# Q% O, b6 Q7 c. Y% j/ w% r最後去到投資者

Kev

i thought it is the reason of rate of return.
/ p* e4 ]. ~0 ]6 i6 E4 B& rCDs could have different ratings, AAA -> F,
+ l- z  j) V+ R9 d9 Imore risky ones would have higher premium (interest rate) as a compensation for an investment.3 Z9 N4 o% {) J% ^& G
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 |4 O" O* Y' N6 ]1 l% E; Z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 H- u/ _+ Y; d0 T+ x7 rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 Z3 d1 J- h$ `# W; o9 |! p8 V
similar to bonds, CDs trading in the secondary market have different value at different times,) o1 k, H4 L5 e
normally the value is calculated by adding it's principle and interest. ' r4 v* A# ~: T+ b: t
eg. the value of the mortgage+the interests to be recieved in the future.
( Z% T  k; g1 A5 ~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.) i9 l! }6 ]/ v4 h5 Z1 m
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im not quite sure if the multiplier effect does really matter in this case.
4 Y0 X  ?+ U9 D0 w% Q2 Kin stock market, it's the demand and supply pushing the price up/downwards.
  x: m# Z# {* {- f& GFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 O# q( t" u3 q, u- a  dA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& {4 y0 [5 H; y" u  n4 }
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. ( i& @! h# s& k& v, N8 [
but the value of their assets did really drop significantly." u  z. j( z; R4 s2 r8 e' d  B$ y

. `- G1 [6 z0 V  X- i+ o# i: 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.gif8 C& |3 h& S. T* B/ Z8 e
Refer to last example,
5 j$ W6 r0 a7 m" [! K, p2 m+ K) `that means bank A have no money because we borrow 10 dollars from bank A + v* J0 r" d; Y& @( O5 D
Because bank A doesnt have enough cash on hand
! m. a* y$ i9 P- ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 h% P- ^- ?, u1 X/ KA->B->C->D->E' _; H4 S( D* y  M
so does it mean if E failed to pay D, * I: E9 U/ ?* g& ^1 s
all the B,C,D,E have to go bankrupt?4 h2 ?2 r! L" ~4 q% {! a2 r! v

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the multiplier just tell how much money created in a whole economy, ' g8 c1 ]- b4 Y# I: d) i
in this case it doesnt really matter how much money is created,
& Z& h8 z8 X# B1 F6 Q. Dit's the problem of the debt itself.$ l9 b; b7 b) f/ N/ ?+ e  e
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
+ H) M4 n4 b# O( E! R小弟一直都唔明...; M' A  i* y0 X, O" w9 F

0 \2 y* e4 z! n; a全世界都蝕錢，咁邊個賺緊錢呢?
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4 k  M6 G3 L" z' f無可能淨係有人蝕錢無人賺架嘛...' |* E( X  m4 b% c9 E2 E, j3 @
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敬請各師兄解答# q, u, X# {0 L7 ]# B. K
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Thanks

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那些根本係 紙上財富  
/ ]* w, h0 J- u% b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 graphic8 E2 v  o8 Q5 ?$ x' q- H

  P8 E& O% O: ^' }# R" R9 S& Ohttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
' Z7 n( N3 ]0 l; Y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 e$ ^4 A8 M( h4 v# ]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
, s$ z  B0 g5 ?$ j+ J& v3 [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 s# v4 u' k3 @. p
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; [9 I* U/ C8 s) }% Z! o計番回報率就已經係50%,所以可以好好賺
5 W, y7 [  h0 j5 [前提係銀行之間要互相信任先可以咁樣借法9 \/ `% H: U6 U6 K8 A& o7 H
同埋個市場既前境要係好先得) r/ \2 e0 Z9 }) @
但當經濟一差,公司估值趺了,物價不升反趺
/ A/ X) X! v( R! T( w" j& E例如剛才說10蚊的, 趺到得番9蚊, . [: o7 H6 W/ y; p7 X
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: h  D+ g; |6 w: F- q
所以你就會覺得D錢好似蒸發哂咁
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# v2 n8 m2 s- D: `# G. B你都可以當標野咁諗, 個樣野多人可以狂升值,
3 L0 P; `  p1 E0 e7 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,
8 h5 C" U" X+ G* o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # G5 G5 G5 Q+ g2 f2 c
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) Z( J$ O; q4 b& s- h
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
) o- T) s9 T9 v: _唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 G1 e% C- D; E4 g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) a+ \6 b; O3 ^6 E* r7 A5 S" {. j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& F) Q$ M% b, Z$ k
咁你話d錢蒸發左去邊? ...

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+ O' p7 [. ]: }- J# R正係咁樣7 ?3 s' r( [+ S
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- T& I) \# o* O, |9 N& P2 @0 S* s
分分鐘佢地唔使還錢
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4 S' j0 y4 G2 J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,$ ^+ C0 N+ H; u
連國家都係問人借, 不停發債券, 印鈔票" o5 E: A6 r- Q# P
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( E  F' Y# ^7 h$ l# S" d
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.gif2 K3 r# o* a+ ~
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
. ?  m; p* i( N- a& }因為以前未生產, 先消費! \+ M/ ^) a2 U/ [2 b2 W+ M
而家就要多生產, 少消費