0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 x1 p- `( y) l- [2 }
Why bank will sell 借據給第三者???; b  k# ]: G# X% p$ U; w
I was so confused.....

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/ T' S0 {- s- O% z" \- R講到尾都係賺錢* A5 x" U7 x0 h
so銀行可以不斷放款( L% T- D: ~2 `* _. }) d! o5 F
美國的房貸問題散佈到全世界2 x  M4 o4 k2 A+ _# S

! h# ]+ u% Q, Zmortgage loan
/ Z* R+ k" u* g# @  v>conduit
* I3 ?- ^+ D+ F$ @6 m2 x8 _7 Z>RMBS(Residential Mortgage Backed Securities)
  u5 r/ U' K3 {; g>arranger' }: Z9 s. o& N' {4 w( E
>CDO(Collateralized Debt Obligation)( K* }$ U. O% {+ ]8 j4 U: b
最後去到投資者

Kev

i thought it is the reason of rate of return.2 p! s9 ?# M, p" ^9 {* @
CDs could have different ratings, AAA -> F,/ b, Z! ~9 t, u+ `, q0 F0 i* E
more risky ones would have higher premium (interest rate) as a compensation for an investment.
/ ~, K( J8 i. ?! e: ~  B7 ^0 Fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 X8 A6 |+ o) _5 g7 Z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 _0 e" _$ J' EAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., b% ^. {- w! f& c# A$ P0 c$ |0 Y
similar to bonds, CDs trading in the secondary market have different value at different times,
2 h# Z; R" @1 J6 m$ vnormally the value is calculated by adding it's principle and interest.
, E8 g! g* e0 L4 |  {; P4 K% }- Y; Weg. the value of the mortgage+the interests to be recieved in the future.
7 y& V- }2 X4 D  Y) j3 R/ Tbanks 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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% i' r& P7 E+ X8 dim not quite sure if the multiplier effect does really matter in this case.9 t/ C% V" [. s5 A. ~: |! \
in stock market, it's the demand and supply pushing the price up/downwards./ ]& T. U8 R0 e% J2 b. c
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' ~; p5 {# U9 H) h; V' RA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 L# Y! ], S5 U6 q2 M2 f# f
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. " L( i1 d5 V4 \; m
but the value of their assets did really drop significantly.9 `) d( W3 g! W3 u" x8 v$ I

# u( d0 {) y1 w0 z* n  |9 i[ 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
. g  w9 C. F. f( n. WRefer to last example,) v: H# u& f- t0 R. ~
that means bank A have no money because we borrow 10 dollars from bank A
2 ?1 _; c0 }8 L7 k. SBecause bank A doesnt have enough cash on hand
' v; A/ M  }! G, w+ U( K' Gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ v# Q3 P# h2 W6 X+ h$ WA->B->C->D->E# ]" k" ?* c) Z# t. d& G4 @+ f% A5 ~7 Q
so does it mean if E failed to pay D,
4 _; o2 z% @- f; y5 q0 m& p7 lall the B,C,D,E have to go bankrupt?3 B2 i$ s3 P% m, O2 r" s$ S
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the multiplier just tell how much money created in a whole economy, 3 t; f. ]+ G1 h
in this case it doesnt really matter how much money is created, + l1 z9 L' e; J5 m/ ]. z  y
it's the problem of the debt itself.' I: p- _) V4 u) S
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.gif3 I% F' K  Z9 `  }" V3 ]; x
小弟一直都唔明...$ O* W+ k/ X8 K

4 @  \6 m! T7 t+ h5 V2 e7 ^全世界都蝕錢，咁邊個賺緊錢呢?* L* r# ~9 M( M

6 D- _/ \9 I1 R1 }! }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% o3 m' W5 }/ C
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Thanks

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那些根本係 紙上財富  ; e8 C0 k% t3 T! D" U; 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( a8 \" q$ A, i7 {, B: ^
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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, b# z8 ^& p3 u& v  z2 q- s
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 e  D0 e- N1 Q( s1 z
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
$ F' Y% v- Y* S0 o1 x* N8 ?; ]6 S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 U# M1 w- ~4 S9 z8 \, w" J扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ i7 H$ K0 g% t/ Z6 z
計番回報率就已經係50%,所以可以好好賺
+ h9 m! [. ?8 ]: s9 E% G9 X# @前提係銀行之間要互相信任先可以咁樣借法0 z# U: P" p3 |% R) ]
同埋個市場既前境要係好先得0 X% J) t6 h9 C$ b* N
但當經濟一差,公司估值趺了,物價不升反趺5 f1 S2 `; n$ V  g/ E
例如剛才說10蚊的, 趺到得番9蚊, $ K/ j% S: h6 I- l9 y  ~
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 Y' @7 Y, a$ M/ ~# {( s: o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,
6 i, `* Y% y& l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,
' ]! T' G9 `3 ?5 I4 P5 e# Z9 F& W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 p" Z7 ^! m. 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, A; t- W7 B" T# a* Y  k
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" b* H( }( p' q4 @) p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 Z' e, b/ Z- T7 Q7 Y* t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 s% W' ]- x& X+ n9 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
" a  ?. D! R& ]9 M  {, ?咁你話d錢蒸發左去邊? ...

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正係咁樣
- |3 S) _/ |* v2 D+ I, 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
9 k5 g8 S0 H" [1 R: T分分鐘佢地唔使還錢
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+ ]" A: \" E1 f: d- N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" `0 f' n, q( U% H, D  h連國家都係問人借, 不停發債券, 印鈔票; d2 M/ `. o, }2 T( n
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% O; A+ A$ \; a1 `) O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
7 w% z# u0 w" }咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.... ^. g) R( g; v+ T3 `
因為以前未生產, 先消費
1 h% _; G! I) k. z6 L而家就要多生產, 少消費