0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 C1 Y: V, b% e: b3 T" [6 F
Why bank will sell 借據給第三者???) e- ~: T! }" g# a1 S" e
I was so confused.....

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講到尾都係賺錢
* U& I+ i* `* m( F" u3 U1 t, K% Kso銀行可以不斷放款
3 b3 ^$ [9 `' Q9 a; k% U! t美國的房貸問題散佈到全世界5 S( K; _2 n; b% _, k3 b
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mortgage loan
& `/ i. P' c2 `6 Y: \; I# ]>conduit
1 e; J; ]9 P6 `* }, u# w  e>RMBS(Residential Mortgage Backed Securities)
6 [, u$ V  z3 z2 Q>arranger
+ B2 S* g  W" T3 g( i# x; C2 A( j& _>CDO(Collateralized Debt Obligation)
5 c6 }/ Q! k( l1 m" S' g& F, n最後去到投資者

Kev

i thought it is the reason of rate of return.  D8 n5 w9 y4 f% |; e
CDs could have different ratings, AAA -> F,9 w9 q7 |1 S, u* N& b
more risky ones would have higher premium (interest rate) as a compensation for an investment.* k: O5 w; g& s; B8 i) R! I3 j* X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) I- D0 }! S) c" i1 L* Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 @1 ^- l9 T' B2 a8 V5 V
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 [/ U4 s6 ~: ]# A( L8 `5 U
similar to bonds, CDs trading in the secondary market have different value at different times,. V: A- P5 J5 f2 z, ^1 O
normally the value is calculated by adding it's principle and interest.
5 \" p# g4 ~5 o* z5 m# o- ]/ B& Ieg. the value of the mortgage+the interests to be recieved in the future.
* |2 W% H/ Q' e! f5 _. p: v) Wbanks 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.
/ ]* s: d4 n0 H( [' s8 J) _( i. Oin stock market, it's the demand and supply pushing the price up/downwards.
& D( g$ d1 A1 JFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 O2 C5 R. S4 J) p" b! vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# n1 [) S7 i* R) I  M9 ~9 x/ k
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. 2 y4 y9 Q* _& }6 M! z, r
but the value of their assets did really drop significantly.( n$ B' V* e0 m* l& R, e  I/ H

* ]( R" L4 z7 O+ }[ 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
/ [" S. r; C" a% lRefer to last example,0 H/ ]4 P, e1 P3 O
that means bank A have no money because we borrow 10 dollars from bank A
: i# A% s: K" _% I% RBecause bank A doesnt have enough cash on hand
; x, ^- p" G& `1 ~0 {therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
5 n; X* S0 A& F$ b) G! _& n2 _so does it mean if E failed to pay D, 9 F' k! K6 A& ]
all the B,C,D,E have to go bankrupt?
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9 j( Z8 `/ P. V8 ?! _5 n8 H4 [the multiplier just tell how much money created in a whole economy, % \9 n' V+ e& [2 e' m4 [
in this case it doesnt really matter how much money is created,
' O( u" F7 ^  Y! ~, N; p) a' fit's the problem of the debt itself.% n" d2 u# @9 N! p
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
: I) T* y! v, I* T2 W' U- V& L/ K& ?小弟一直都唔明...+ W' _" ?' g4 \) J  f* u4 d# u9 c

5 t/ |# o; f$ J全世界都蝕錢，咁邊個賺緊錢呢?
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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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- Q9 Q& c- {( c4 fThanks

2 b) U/ m! F# G9 L' a- r& V  K4 r# }0 ?
那些根本係 紙上財富  
/ x3 v( x6 p* B- Q) y2 [/ v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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& y, G& l$ D1 {) ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ Y" H" x6 K( K* d. b
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 \7 _& ]* q1 ]) N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8 Q) V4 n* ~4 n/ v" O1 ^
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 m- G& R( d% z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ T/ V% x7 A5 m) K' ]6 d
計番回報率就已經係50%,所以可以好好賺
! W# t$ v' A& @2 Z  W0 C前提係銀行之間要互相信任先可以咁樣借法
( W) Y  p4 t* E: h同埋個市場既前境要係好先得5 H+ k/ K9 O8 C& ?- u
但當經濟一差,公司估值趺了,物價不升反趺
$ H- D2 e( i. J5 F+ F例如剛才說10蚊的, 趺到得番9蚊, 8 [% Z9 Q1 t1 m# c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. Q7 ?7 `$ E' U. H
所以你就會覺得D錢好似蒸發哂咁. K) w( Y  m+ r5 `

' @( Y) J# r' x你都可以當標野咁諗, 個樣野多人可以狂升值, ( W6 N7 ]7 T! a! p6 l- 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,
3 W! |% L8 B1 L8 b: m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 j' ^1 p! k% H7 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% B" e! @6 ]  \6 \8 Q$ H6 s& 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
( }4 ^) c) m# @) f5 @唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 g7 J1 |$ B+ v5 J2 a' f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 ^$ r* W: }. ?3 o/ M. u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
* n" }4 X/ |- R: \) U2 j2 c7 g咁你話d錢蒸發左去邊? ...

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' B3 Z+ m. }) U9 v6 {; T, X. g正係咁樣
6 b9 @: }, ^' q: O9 J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
( W& a+ w/ V! W) c7 I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,
% ]  z3 c: H- i. u3 U連國家都係問人借, 不停發債券, 印鈔票
2 @0 \, R; S! p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 B! M6 O; q  Z( 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.gif, e8 v: m+ b3 m4 Z2 [& I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% ?1 T" ?' ^3 D, G+ B8 F其實係...
( p0 D; l, E. M. p+ N因為以前未生產, 先消費
# O1 v1 A+ p7 }/ [/ E而家就要多生產, 少消費