0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 N6 U! E5 k* q0 h  O$ \Why bank will sell 借據給第三者???$ H7 d2 X; q3 V3 h' }
I was so confused.....

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講到尾都係賺錢9 R$ b) }  f6 c& l
so銀行可以不斷放款
" y9 N' n6 ]) K0 ]美國的房貸問題散佈到全世界
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- ?7 c; E9 K5 q/ Qmortgage loan
' w! Z- L& ~7 Z>conduit
- Z) X4 n; x* Q5 x  O; S>RMBS(Residential Mortgage Backed Securities)
& R4 n3 h5 |( z& S9 J& `>arranger
. M$ j, s8 P, m0 o! g>CDO(Collateralized Debt Obligation)+ T8 h) X7 ?* m; E' s3 U, p2 K
最後去到投資者

Kev

i thought it is the reason of rate of return.
# r$ N4 ^  h# X) s0 P# ]- |, L! vCDs could have different ratings, AAA -> F,; S/ O  g; B  N2 O1 i2 T0 h! m
more risky ones would have higher premium (interest rate) as a compensation for an investment.. l# ]: W5 O  a2 x" [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 Y; m0 O4 W2 Q) ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, b) _. ~$ }" R* VAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 O+ S" j0 B) ^' q1 |  P6 }% _1 ]5 R
similar to bonds, CDs trading in the secondary market have different value at different times,3 t; C: c- Q7 X) Q! H
normally the value is calculated by adding it's principle and interest.
% F9 }' `4 S3 u  a# |4 z; Beg. the value of the mortgage+the interests to be recieved in the future.   k2 M" ]2 I6 A( ~, S
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./ v/ Q5 N' L& ?( {
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im not quite sure if the multiplier effect does really matter in this case.) r( |  i  d9 q3 u6 S
in stock market, it's the demand and supply pushing the price up/downwards.+ `( @+ _2 p% J: V$ Q/ f4 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," Z' M0 t( w. M1 d8 a/ S  d
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ E' H/ s. y/ t7 F5 a# BThe 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.
1 |7 Y4 I& j, s, ~but the value of their assets did really drop significantly.
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& n+ I. N/ `; q[ 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.gif3 ]9 Q% {# L' _7 K
Refer to last example,$ ]; z+ X' v3 t: Z# e
that means bank A have no money because we borrow 10 dollars from bank A * J' D- }8 R* Y9 J
Because bank A doesnt have enough cash on hand
2 H2 _, k" Q7 N0 T' Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: Z0 {  @; e$ Vso does it mean if E failed to pay D, " o* G! \3 S& Y( m, C1 |- w
all the B,C,D,E have to go bankrupt?
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- @- f" P9 }4 K7 z4 Q) i; ^% W6 x8 pthe multiplier just tell how much money created in a whole economy,
- c; x, b. f# e# _in this case it doesnt really matter how much money is created,
- T; Z5 J+ M0 r6 Z0 yit's the problem of the debt itself.5 h9 c3 ?+ _4 j. e7 p+ f
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- W2 W6 a" Y1 i, S; v
小弟一直都唔明...
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& [) n% T8 s, ?% g全世界都蝕錢，咁邊個賺緊錢呢?& X! H1 t3 Y) E6 X5 q/ k! D
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無可能淨係有人蝕錢無人賺架嘛...5 X# ^. k% [7 n! i

$ _$ Q1 i8 l( u' h* n敬請各師兄解答
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Thanks

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那些根本係 紙上財富  2 D# m. U  Y* a) i' T0 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! B6 X. A. J; Z) X) {% p7 y

( `+ O- n- |  B( {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
( o) u+ c6 @/ r% e, I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 V1 H+ \! [( ~1 |$ L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
  H& X6 I# r4 i' M- |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 b/ K8 o" a/ Q$ ]" 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 S6 T9 `/ B! W9 u) c計番回報率就已經係50%,所以可以好好賺
5 A" A1 }8 C  ?, R前提係銀行之間要互相信任先可以咁樣借法
, h$ @% a, h& v5 z/ p+ J9 d同埋個市場既前境要係好先得
+ i- p7 Y% I# U; M- W- m! Q. d但當經濟一差,公司估值趺了,物價不升反趺3 C. u' A1 @. ~& E
例如剛才說10蚊的, 趺到得番9蚊,
2 g; w& I; G+ m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 L$ D' S" }* a所以你就會覺得D錢好似蒸發哂咁, o8 i' b( @: I" K

! I5 j; l- ]. K" V8 c* `' \- y6 g. \2 p你都可以當標野咁諗, 個樣野多人可以狂升值,
' C) O3 c$ w6 h* B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,
( X2 B. }! N' e  z5 t' H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 ^3 F1 Y) s) e+ `! l/ {
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
# v5 Q2 S0 {7 z, @* c8 I7 ?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' P/ r4 E. Q: b9 N4 h# h. Q
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) R7 V7 @: X. D: s/ d4 ~& b  g9 p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & }9 s& ?! _2 w5 o2 ?5 V! E2 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
8 m+ T. s/ ]# f0 T& l咁你話d錢蒸發左去邊? ...

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- p  F6 }: Z) e" {正係咁樣, \1 @. f3 M. R! c
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7 X6 U$ l4 Q2 I; a
分分鐘佢地唔使還錢
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; Y; Y/ F$ N5 r( }/ l3 s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,
* }- e9 S, j- G* a3 F, o連國家都係問人借, 不停發債券, 印鈔票, \5 w! w0 L; ]1 c/ E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- H, S; F4 A) y% y: b* ~5 H# S7 G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, r7 l# c) \6 W% ?: O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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' J. j9 x9 I7 z- `  i其實係...
0 r; V/ t6 F5 h1 [因為以前未生產, 先消費
. a0 `6 z+ U9 ~% I$ [而家就要多生產, 少消費