0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ x7 H: j" t/ eWhy bank will sell 借據給第三者???# d; X6 v0 \/ G5 q' i
I was so confused.....

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! I" @- ]& o$ R$ f講到尾都係賺錢! C4 R- j2 D7 j
so銀行可以不斷放款
5 g, ]+ ]+ D: k4 ~  |# s) w美國的房貸問題散佈到全世界
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) A" u2 ^8 k) Q) y, a  j5 xmortgage loan , V! ^* a* F! \" J# u" [$ x8 ]
>conduit* e% y1 y$ S, v( n1 S7 i) O
>RMBS(Residential Mortgage Backed Securities)& s5 E6 s' U5 R# ?9 f- o+ G
>arranger
- s/ |: l5 [% C( \, G1 j>CDO(Collateralized Debt Obligation)( }5 {  `' G7 P) a: z" u
最後去到投資者

Kev

i thought it is the reason of rate of return.3 _7 Z, o  ~4 O# l! N5 J
CDs could have different ratings, AAA -> F,
  d  J* y/ b- u& S0 [) M- H0 Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
# N+ V# c$ F) D! t( |main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' h1 [9 ]' \2 ^6 t+ t# s# _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ w! S6 q$ K: L3 c6 T
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  l( e5 o7 [# q$ Z
similar to bonds, CDs trading in the secondary market have different value at different times,- t) }; _5 ^; I, u9 {
normally the value is calculated by adding it's principle and interest.
2 o6 `9 H* D( y" o' H1 n) aeg. the value of the mortgage+the interests to be recieved in the future.
" `! l. @- p  [; |( 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.: E( A' `8 |& ^% |8 G; @

1 R+ D, ~- _( T1 kim not quite sure if the multiplier effect does really matter in this case.- N2 M9 k" y) d/ L0 g* {
in stock market, it's the demand and supply pushing the price up/downwards.  `2 I3 O0 x, I+ U! q! W
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ a% R. D* L2 E- a. O8 w' X0 F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: {# d0 i+ a# v1 f3 B7 r# FThe 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.
" c% x/ ?0 c+ C& F3 ybut 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+ V( ~+ g: o! ]! o
Refer to last example,
  |3 M) o8 o' P# h! \5 ythat means bank A have no money because we borrow 10 dollars from bank A 3 e8 K6 u) K% n* y, z# O" h! z
Because bank A doesnt have enough cash on hand ; n  j: O4 {3 J6 D& Q4 L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' S# M/ g/ v( d+ C- y6 X( mso does it mean if E failed to pay D, * j& V1 I4 X7 |8 r2 V( {; ~5 A! w
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,
; o- w. W( R9 F) u( Rin this case it doesnt really matter how much money is created, & z" F, B" W) r
it's the problem of the debt itself.
/ m/ o. i9 \4 R2 h) v* i" tthe 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
5 Z  f6 U! }' S0 R1 u6 p5 ]% d小弟一直都唔明...
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, Z7 ?0 Z0 X  W" a全世界都蝕錢，咁邊個賺緊錢呢?( `" X# d5 t# A) w
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無可能淨係有人蝕錢無人賺架嘛...( Y) M0 ^8 ]" q+ j, o: N. J7 ~1 m
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敬請各師兄解答
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# v# i- E1 |) d& t. @% vThanks

5 U8 l% q$ b5 j$ P  f% z那些根本係 紙上財富  ' X* |) V) @+ i/ r
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
$ l) H* i6 @& [0 c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( ^9 Q" f4 `6 n% k
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
" Y5 K6 Y7 O% w- {. m個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( W1 p4 |3 k% ^: J* P; P4 j, k3 F
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ _$ |/ F  m( Q; O- q# H) N; L
計番回報率就已經係50%,所以可以好好賺
6 l2 \0 {9 s$ N2 S4 D1 A% T. |前提係銀行之間要互相信任先可以咁樣借法
, x- o; r' A- f1 S3 c8 E+ Y% M同埋個市場既前境要係好先得5 I8 N& y0 B; O' Q  e, X  g9 u
但當經濟一差,公司估值趺了,物價不升反趺
7 I: o* d3 @: e4 }( ^例如剛才說10蚊的, 趺到得番9蚊,
* Q% `1 {# N9 k9 p1 \: I8 @7 f2 k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" \4 o( R& O! u8 P所以你就會覺得D錢好似蒸發哂咁2 H4 b, r5 R  ^9 h" |1 _7 S# a

4 a: P1 [" p0 z1 c! w你都可以當標野咁諗, 個樣野多人可以狂升值, 9 N% T: y. Q* K* q) h5 ~
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, % u2 S# ^( |; C( c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 \' X! ~0 f+ `6 K8 X/ e# K1 x  w1 F* e$ o
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4 q. k$ O# 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  d) u6 c# T2 \' z1 i
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - d3 T+ s* l1 Y) D, L2 x4 h. e2 f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ R. d* s  `& V# L1 z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
, u0 q4 Z" w, F7 s9 @$ c+ P. ?咁你話d錢蒸發左去邊? ...

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9 M/ ~3 W, K# b3 n正係咁樣
2 {/ t! N, i3 x+ q" |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  E* f  A6 O4 S6 X2 k* G1 p
分分鐘佢地唔使還錢
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, ]$ ^! r4 K9 w6 ]& Y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,3 V& C5 C' e/ Y+ v! l# C
連國家都係問人借, 不停發債券, 印鈔票
) h1 S4 b/ D% J1 ?) y6 b一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 v  `* m. Q% C6 O+ u, U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  o' M4 S! Z1 `( B
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
% F' Z4 v8 y' c: M& g1 R因為以前未生產, 先消費% o- `3 Y$ ^$ C6 X) f3 T- x5 ?
而家就要多生產, 少消費