0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- J$ [, Q  t5 T+ Z6 {Why bank will sell 借據給第三者???
4 c2 G0 ]' ?% C& f9 w* q/ u0 {I was so confused.....

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+ W3 v  h- @  z( @講到尾都係賺錢# n9 X- ?) m- ?' \6 X9 Y% m
so銀行可以不斷放款/ E% M4 _. e5 a3 ~! I, p
美國的房貸問題散佈到全世界# d& U/ u8 ]# A" D6 ^, [% @: i& r& g

( P- u% P8 y4 i& I0 ~/ m/ dmortgage loan ; U3 ^% e1 r2 p3 k: y3 x+ P
>conduit
/ Q" ~4 R# P$ L6 ^7 O" K>RMBS(Residential Mortgage Backed Securities)
6 @4 O& ~6 t, Y" r7 g>arranger2 B- U, f: P2 v, i/ |6 M
>CDO(Collateralized Debt Obligation)5 s9 B( f; d5 T
最後去到投資者

Kev

i thought it is the reason of rate of return.  G6 O! n( m0 G) b
CDs could have different ratings, AAA -> F,. |* }: n, c. c. n' W! b4 E- m
more risky ones would have higher premium (interest rate) as a compensation for an investment.) s  t* i; Z: D5 f4 h" v
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  E3 ]6 R8 A& \' R4 K! a+ M
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 ]" l# K& l7 y6 W. n( wAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* f9 J3 F# l' ~: Xsimilar to bonds, CDs trading in the secondary market have different value at different times,
/ W7 n# u8 z$ gnormally the value is calculated by adding it's principle and interest. - g! |+ u3 G& L
eg. the value of the mortgage+the interests to be recieved in the future. 9 Q; W4 c% d' C6 d
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.1 a  w! D6 j3 _: q$ I8 k! z& c
in stock market, it's the demand and supply pushing the price up/downwards.
. Q# m+ T) ^# R! VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- t9 v: {$ _4 k3 p/ r% b7 M3 @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 B+ e+ c$ k! {& k: m( j
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.
/ R1 |2 P8 B) c9 P* g( b# tbut the value of their assets did really drop significantly.( h$ V! p1 ]5 c$ k

9 a' q# k6 C2 [5 z4 m9 [[ 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
8 j4 R4 _2 V5 d2 CRefer to last example,/ s- t/ H5 D( l% i7 h% G
that means bank A have no money because we borrow 10 dollars from bank A
" j1 v/ x6 o+ j, J4 l* w6 M; \! ~Because bank A doesnt have enough cash on hand . f2 s* n, h$ a/ c* B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ L/ `; z: m8 @+ Qso does it mean if E failed to pay D,
3 B7 x9 e6 }- F; O( ^- z" fall the B,C,D,E have to go bankrupt?
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1 l5 }8 g9 x- tthe multiplier just tell how much money created in a whole economy,
" m( Z( k1 }0 q) D0 ^in this case it doesnt really matter how much money is created,
+ A2 H& V# d, D4 w7 A; K8 Yit's the problem of the debt itself.
1 B0 t7 j" q9 }: 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
- Z0 W0 r( A$ e! e$ z小弟一直都唔明...% @; Y; C, @! k

/ t% t0 O3 Z) y" Q9 N/ p$ r- {全世界都蝕錢，咁邊個賺緊錢呢?& f: t, c% w8 `+ _4 _
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無可能淨係有人蝕錢無人賺架嘛...$ D9 A) {# A' E1 @! z* c

! f3 ~4 H( j6 M7 R敬請各師兄解答& u# j, r- [0 l) s( `
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Thanks

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那些根本係 紙上財富  
6 r/ Q( ^% y! X! U1 B. g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  T: ~' Z, D; q) I9 _! a0 v

. |, \& Q# x* B/ m' j4 U% ]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 T! Y( \: A, e- j! t* L& z$ p, q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高: z: u' E4 r" b8 \* b
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
# W6 \2 }2 _% q* \  f3 d* O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# R% ]" N, q' t, J扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 F( F% @; S/ V, S: I1 m( ^
計番回報率就已經係50%,所以可以好好賺: n; v  {1 d5 [- N% d* ?5 A8 c
前提係銀行之間要互相信任先可以咁樣借法
1 E$ s0 n( J8 f* F8 I/ C$ I$ ^/ X同埋個市場既前境要係好先得
( {4 R0 K: E3 J( U8 S但當經濟一差,公司估值趺了,物價不升反趺
: X- Y. ~! F1 P8 [例如剛才說10蚊的, 趺到得番9蚊, 6 g1 F5 p. [3 S. l0 ^1 C
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 a' n8 q; @  E1 ~8 y, f- h
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, 3 `4 W6 C* q% R) p, X2 D
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, 5 s. l( b5 B1 _1 q. ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 i3 u+ F* j- a2 d
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
$ v9 N# v6 J( m: C# l8 e: k2 W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
. v6 F/ T( B* _* W唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 `) e1 w; P) Q, R6 `6 y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 J- _' q# ~1 o3 ~3 k/ w  M# @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' d3 ^4 z# L, q' R
咁你話d錢蒸發左去邊? ...

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3 R( q$ }) N. Y, X0 D0 l正係咁樣
& R) v; n4 ]2 b4 R. _% B- K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+ J! d  v6 q$ d& F
分分鐘佢地唔使還錢
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2 i. n; U2 h" o, I2 b8 \$ C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,
% @  k6 x, i7 x: C- U' |連國家都係問人借, 不停發債券, 印鈔票
# Q. W' s' U& l2 I& R# X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" H  X; H  l' p% C3 f
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, ~9 @2 `: z5 D3 W( j
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
. H7 M* T8 r  R$ R3 r4 K1 r3 ?. b因為以前未生產, 先消費
; a. D8 r4 n6 R% ~而家就要多生產, 少消費