0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( d+ v: a; W( c, qWhy bank will sell 借據給第三者???8 ~" E  O2 o" ~3 B" W. O) q/ R
I was so confused.....

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講到尾都係賺錢. i5 A: @) X0 T' b' L" g
so銀行可以不斷放款
* O/ P, [- b/ J) O5 Z3 C美國的房貸問題散佈到全世界% F* J8 }7 u/ ~) B. @
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mortgage loan
9 c; d$ L& E! |2 ?3 R>conduit
- N7 G' B8 @0 K8 t3 W5 I. a. u>RMBS(Residential Mortgage Backed Securities)
- t) n) A, b7 q6 P2 F, K, T  d( C>arranger
( Q5 l' {1 ]! h4 l>CDO(Collateralized Debt Obligation)7 q2 a, c, C' P" g3 T' k  u2 S" L
最後去到投資者

Kev

i thought it is the reason of rate of return.
6 o" Q& A, [6 l0 ~' z& U) jCDs could have different ratings, AAA -> F,8 P+ Q8 U5 i  {4 E, V' |8 k# \
more risky ones would have higher premium (interest rate) as a compensation for an investment.' v( P* \# f* I/ n1 Q; o/ M. G9 g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" [! w; |0 K2 gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* n* S" n4 J+ P0 i" LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( g1 N# }1 F0 d' E) B7 L6 tsimilar to bonds, CDs trading in the secondary market have different value at different times,
; l5 L# J6 n3 U# ?* n$ ?/ Z! s8 X' tnormally the value is calculated by adding it's principle and interest. 2 e% i6 X5 ^0 T! L7 w$ v! X
eg. the value of the mortgage+the interests to be recieved in the future. ) v* D& l3 O- ]/ d9 c3 [
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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im not quite sure if the multiplier effect does really matter in this case.  [4 y4 t, m- \  E7 h) c' H
in stock market, it's the demand and supply pushing the price up/downwards.' X, `, Y+ o( ~
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 {7 M! o3 Y5 A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. A# a+ ]+ w! c, v) k. I5 G$ b1 OThe 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.
2 C3 c5 A0 _3 [* U3 M" O- `; Rbut the value of their assets did really drop significantly.2 F( N7 [3 x9 w: ~: _- L

2 s; J1 u) ~$ Z8 g: F5 Z+ [( j[ 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
' k/ S. G4 U. S9 a1 iRefer to last example,5 a2 K( ~5 j- V$ i7 v& B4 S  n
that means bank A have no money because we borrow 10 dollars from bank A
0 Q9 x" ^+ w! d# r% Z$ ?# oBecause bank A doesnt have enough cash on hand
9 J1 i3 c) w0 m' Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
7 Z" z* u) T) R4 `) ~so does it mean if E failed to pay D, - r2 B3 F/ J# V: e+ R$ W: n
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, . \$ X* X( L( Z) I8 ], f
in this case it doesnt really matter how much money is created,
, u. X! k+ B0 n$ Z' @it's the problem of the debt itself./ q% q/ ], R$ }. G# ~* t
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  y+ U4 {7 @5 f7 q( G
小弟一直都唔明...
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2 c* |, C$ [( ?9 W全世界都蝕錢，咁邊個賺緊錢呢?2 O2 D- G0 B6 ]. h. d

  R2 l' A- ]5 k& f/ r; }6 }0 E! `+ k無可能淨係有人蝕錢無人賺架嘛..." a. k# m! r, h) l& x
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敬請各師兄解答/ e" m8 z# U: u3 ^

) [, H$ I* _8 `1 l6 f' UThanks

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那些根本係 紙上財富  ( R) |: K& {7 A
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" q* d8 H% \  O
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  a/ J0 l) D/ M, L3 y) v' b3 x& |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. {6 f9 L3 m: O) M1 Y2 M( K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% n: L; F6 N  v! [3 N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 k! e% q% X3 l( u7 w計番回報率就已經係50%,所以可以好好賺: I1 t7 H4 _0 @4 S2 M6 H) v1 N
前提係銀行之間要互相信任先可以咁樣借法% c* J2 f4 p$ E, N, d8 P+ Z5 P8 G
同埋個市場既前境要係好先得, \7 i1 Y, K! G, O# W
但當經濟一差,公司估值趺了,物價不升反趺
! j  U2 ^0 O3 R6 @% O& L5 ~* A* U例如剛才說10蚊的, 趺到得番9蚊,
  J  c% n# F; ~8 F, f. E* E$ M/ H) p咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) w! d7 i& w/ k6 S( v+ s9 |
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, ' @& r2 V/ v4 y2 W
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, 1 N! _+ \0 B* S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ u2 T7 `$ ]! p4 X2 ]: Z. S2 S" ^  w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3 ?8 u# T  X$ q3 a
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
/ N6 O( B* Z; T2 w. S6 U. o唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 s$ @6 p' W" N. F6 D/ F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; r/ q4 g, @* [6 @* O$ ~8 d( B) y; 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/ d2 ~  u2 _. z4 W$ G8 C3 ^
咁你話d錢蒸發左去邊? ...

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正係咁樣1 Y  g' {) b8 k# L7 r5 N3 R
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 m) O/ c6 g/ Z8 i% z! _
分分鐘佢地唔使還錢
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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,
+ x: f. p+ [% K4 v( X連國家都係問人借, 不停發債券, 印鈔票) B: R* Y% b! v
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 h3 @+ ?6 X) M$ j: L0 K4 k$ b" e2 V
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.gif5 }: A: K0 I( N8 g# z4 V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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, _, K( s) a' ]  w其實係...# w! E: ~* x5 t: p1 M! V/ M: W: M
因為以前未生產, 先消費
6 ]/ e7 B! [+ e: a' \+ q而家就要多生產, 少消費