0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 j* S# f, D+ f1 a$ z& F; R- vWhy bank will sell 借據給第三者???& y$ t3 L& P1 [/ T* w% q
I was so confused.....

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: r( n; \- n' r2 U: |講到尾都係賺錢# h/ [0 i. L$ ?; W
so銀行可以不斷放款2 O6 v' W  e8 ]) Y9 e6 h( W
美國的房貸問題散佈到全世界
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$ Z+ V, M" V! xmortgage loan
  g5 j. y: _7 m) L8 |3 u: e>conduit# D& W+ K. @$ W$ s9 R
>RMBS(Residential Mortgage Backed Securities)" E) b+ Y. |/ m' X) P* r3 Z' [% Z
>arranger) M$ t  G/ }( j6 x( X  I
>CDO(Collateralized Debt Obligation)# z+ g. A# @! m; r  o* p0 j0 v
最後去到投資者

Kev

i thought it is the reason of rate of return.
" w! D/ V+ k- t' N3 kCDs could have different ratings, AAA -> F,0 _5 J/ q4 b+ N9 x
more risky ones would have higher premium (interest rate) as a compensation for an investment.; J0 y5 a! ^- k# x3 ]
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 l- I6 p: Z2 B8 |3 x" _9 [2 ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ _9 T9 G" _" a3 a/ S, [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 Z) t( V( X+ Q1 i8 X# |4 Wsimilar to bonds, CDs trading in the secondary market have different value at different times,
- d& b$ j# o6 {8 K7 cnormally the value is calculated by adding it's principle and interest. % x; v- U& ]; J, P' k7 C
eg. the value of the mortgage+the interests to be recieved in the future.
7 I* @# F$ \3 i' M6 Ubanks 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.+ v* u5 q2 P+ D% J

  d7 _$ E2 k3 Q1 v7 ?0 G& p3 G' U/ zim not quite sure if the multiplier effect does really matter in this case.
# j" O& ~2 u, e# x6 R6 {, Din stock market, it's the demand and supply pushing the price up/downwards.. a& h: [/ ]" @. ?. _$ n$ I
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," D0 s: X9 c% `. x6 f4 W: U1 _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., v* k" D& C& n' n/ i& i) }
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 R, d4 T5 ?+ ]8 o
but the value of their assets did really drop significantly.
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[ 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
' P+ s$ _$ k0 x' A" wRefer to last example,& R3 z0 Y8 r8 T' r1 Q
that means bank A have no money because we borrow 10 dollars from bank A
8 o( g8 R! S: vBecause bank A doesnt have enough cash on hand
+ L6 P# ^7 R/ t/ Btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
) p8 I& Y# _5 @5 h; s! A3 }so does it mean if E failed to pay D,
4 ?3 T+ \( C2 I9 i" Sall the B,C,D,E have to go bankrupt?
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8 i% ~0 A% x; f( othe multiplier just tell how much money created in a whole economy,
) ~, i9 v3 z1 uin this case it doesnt really matter how much money is created, * u$ r! U* b! v- r, [; F
it's the problem of the debt itself.. n) ]# Q* s3 A& T6 r: S! A) f9 x
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+ r5 P" a  |- Q4 j
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?+ L" Q  @* T/ m; H9 J4 A" h

7 e/ c/ P0 k+ N, q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, {  u9 C* i* S3 m/ Z

. C% @6 [# f4 v! A! Z- k4 DThanks

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那些根本係 紙上財富  
$ Z& ^; [1 \4 q' G/ s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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6 ]$ d4 N  u2 W% ^$ A8 ]  u5 ~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
  @- c) J. N4 }7 G' v' g* q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 o" e, c7 C# j) {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
, g+ q) k  I% t2 i8 f個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 {* b  w( L8 i# J  y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 h; i4 L7 `1 H/ j; I計番回報率就已經係50%,所以可以好好賺: U& q2 y; f& X% p7 K# E
前提係銀行之間要互相信任先可以咁樣借法
- J7 u2 f" m: K* T" a同埋個市場既前境要係好先得
, _8 p8 z6 b9 g. t" n- \: S但當經濟一差,公司估值趺了,物價不升反趺; S8 k4 {; k5 ~' r6 D
例如剛才說10蚊的, 趺到得番9蚊,
5 R% W0 y; U7 C8 h: ]; M& D! {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( o$ ?. {$ o' S% Q
所以你就會覺得D錢好似蒸發哂咁& r; w1 {2 K- N

8 e" E2 `& G) s4 R你都可以當標野咁諗, 個樣野多人可以狂升值, 4 S! s* [9 K) s+ Z' Y* r- {& @
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, + Y- C3 {2 S7 N* L7 }4 B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& I& F1 t8 y/ I  k8 g, k4 W* p! x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2 M. l7 l3 Z3 y& {
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
  K: i$ W+ \5 e- j+ _, y( b唔係d錢蒸發, 而係比美國佬洗晒未來錢, " e: N' X5 f9 Q3 c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 F: U( R2 ^" g2 l! U! H) }5 T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
+ ~9 r1 ^4 Q3 z" f7 M. c咁你話d錢蒸發左去邊? ...

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正係咁樣. y) i7 |, V4 y# v% i( A7 p; X+ 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
" r) j) m, X# f  r分分鐘佢地唔使還錢
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! k& x5 F4 t. `4 F$ e) d9 {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,  f% T; E, g" i2 W: Q
連國家都係問人借, 不停發債券, 印鈔票' }" m6 P' e, j5 i, n- F+ a% |4 I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- i) r8 h# w, i, D" H
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  Y; p; |) L% Y9 ]7 f
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 k- L: x0 w! F0 r7 ?+ `
因為以前未生產, 先消費
3 m$ T7 g) u+ U- Y3 l" Q而家就要多生產, 少消費