0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 E: w: e# d1 ]; t  pWhy bank will sell 借據給第三者???/ k4 F1 c$ L' E% M4 r; B
I was so confused.....

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) n2 |* c1 ]% k+ N講到尾都係賺錢& ?. \! J6 _4 {
so銀行可以不斷放款
0 ^9 M/ l( |/ l: S! R! N美國的房貸問題散佈到全世界! B3 l8 x" F" I2 N$ v  o

# c. @; j8 ~) v/ d3 M" mmortgage loan 7 K* D* @. t/ F; b- a
>conduit
" D( U2 N" z& m1 t: z+ N( x>RMBS(Residential Mortgage Backed Securities)
8 T/ p0 T5 q0 z/ E! r" w, I>arranger
: w  K& J* C9 n6 D+ V( a, Q* _>CDO(Collateralized Debt Obligation)1 A, d4 ]' u% x- U( `7 Y
最後去到投資者

Kev

i thought it is the reason of rate of return.) o: J0 \' m# q! L" k7 y
CDs could have different ratings, AAA -> F,
2 N" y3 q, a# p: }more risky ones would have higher premium (interest rate) as a compensation for an investment.( U- h' a  _, H0 f1 F
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* \. g9 p' Y. o* G5 E5 i) ]  iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ M: a1 _. ?3 W1 C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( u, @& Q4 Q" W- |  Y
similar to bonds, CDs trading in the secondary market have different value at different times,2 `% ]7 K0 T/ u' D1 e
normally the value is calculated by adding it's principle and interest.
: }1 Y- p0 c) d# u3 F* E, }eg. the value of the mortgage+the interests to be recieved in the future. 8 T: D' z+ }7 N4 ^
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.. u4 l7 n: b4 x/ e1 C5 E; o8 J
in stock market, it's the demand and supply pushing the price up/downwards.
* D5 D- x8 M2 t5 C( \. w9 \: dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* Q3 j/ @3 g: ]- Z: `# HA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 L) w) u2 H" U* t) R5 LThe 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. 6 I6 L5 Q) u# a8 {$ l, c( X
but the value of their assets did really drop significantly.
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$ R7 ?4 c* b6 D: A[ 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
; I$ I, G# Z% G. T  a6 ~Refer to last example,& m. ]! b, ^$ X/ @9 X0 ^9 p" f
that means bank A have no money because we borrow 10 dollars from bank A 2 a4 }; j0 w. j$ ~
Because bank A doesnt have enough cash on hand
+ f+ P  H9 U0 q" L7 ~! h0 Ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E& K+ B. N2 x; H& @8 y+ M3 N, \7 O* |
so does it mean if E failed to pay D,
& a  z8 J* t+ ?# ~% [all the B,C,D,E have to go bankrupt?
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, h+ V7 R* ]9 g! Z0 a7 j- nthe multiplier just tell how much money created in a whole economy,
% J! f) @6 t1 a* f+ q, pin this case it doesnt really matter how much money is created, 1 p" _2 |5 @! q. _+ j2 r
it's the problem of the debt itself.! L6 a- J6 O' L4 q
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
1 f" D% c3 |0 e' U4 C( V小弟一直都唔明..." `4 r4 q7 _* j0 X; D( S

1 ~- y. ~3 U) I: z5 ]全世界都蝕錢，咁邊個賺緊錢呢?
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) x. W2 U( F8 y& G! h" W無可能淨係有人蝕錢無人賺架嘛...% }/ G9 l) w/ L! c. V9 k

1 }- ~7 H8 u$ m6 W0 S9 J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  
% Z/ @) y% S* X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3 R$ ]0 _- B7 R
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 n( `; {( n* B3 O' `$ m" V) h! d
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
2 g6 p, u0 i+ B. M1 Y4 o9 F& i6 B  G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  {7 v( m& Y4 d( p' L/ N/ K8 a; G8 V
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 J% ]( O) u" G* J
計番回報率就已經係50%,所以可以好好賺- q4 O$ R, C$ f
前提係銀行之間要互相信任先可以咁樣借法
3 x( I# i' m) L* P2 y) @; a  a同埋個市場既前境要係好先得6 s( O5 N0 {1 s% r. \! G& N
但當經濟一差,公司估值趺了,物價不升反趺" T5 m- h4 L5 h8 b: g
例如剛才說10蚊的, 趺到得番9蚊, * h& N2 M6 x# \
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 }- _4 t+ ?( m1 i; \, M+ k
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, ) g) i( l% A9 i( F" G
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,
) c3 `' v3 N: S( f' Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + L1 `! b  Q: ?8 f* @/ Q# `+ R
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. t" J1 q9 }5 x
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.gif3 ]+ \9 u* x9 Z2 M9 `
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 A- o. I. o+ x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% o% S$ ^$ [8 ]  E0 I1 S, S7 w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
0 Z, Z1 o3 l% ]) n/ `咁你話d錢蒸發左去邊? ...

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正係咁樣2 Z" h1 j- h" [, o$ \
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: U/ X3 ?% u" W9 S
分分鐘佢地唔使還錢  M. ]! p/ Z) p, q5 _

% e8 j6 P8 T2 T0 e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,+ d5 L, ]# `, O# @0 x7 `
連國家都係問人借, 不停發債券, 印鈔票
+ C: m. g0 r% r一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# R! V  P1 G2 Z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" m2 J8 Y0 ^. y/ i2 I  j
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...6 i- Q! M. s: @( j( s0 r1 h% e% G
因為以前未生產, 先消費
3 x$ z! J% T$ h) e0 w8 H2 @4 P而家就要多生產, 少消費