0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: L2 P$ |1 W* |4 MWhy bank will sell 借據給第三者???
: E9 D# C1 j* u( N/ W) YI was so confused.....

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講到尾都係賺錢8 F% {! G6 M/ _1 _3 P& u. L. U
so銀行可以不斷放款' h7 q1 ?  g7 T* U3 P
美國的房貸問題散佈到全世界
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! Y2 [: e4 \, K4 T3 M+ vmortgage loan ; g1 c  s- {" y/ C/ z
>conduit- ]2 m0 F4 |$ }3 x! N: q. y+ g
>RMBS(Residential Mortgage Backed Securities)# \3 S0 L: n1 d! ]( X! S: [
>arranger. r7 O, w1 q0 B8 h; w  H8 `
>CDO(Collateralized Debt Obligation)
+ S9 p  Q  h9 F# F7 J! P6 t2 x2 o最後去到投資者

Kev

i thought it is the reason of rate of return.
* `) q- B& T1 E$ xCDs could have different ratings, AAA -> F,
  S; j; B/ d/ k3 R8 O7 Q" p( fmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 m5 i# X* \1 r) \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, B; @. }( Y1 {- rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 w/ E' n. w8 a; n5 m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' G/ K$ N! z+ S6 L, O* h
similar to bonds, CDs trading in the secondary market have different value at different times,
& t: I9 z; a5 v. C/ L# _normally the value is calculated by adding it's principle and interest.
  k% \" m/ T  o' t# D  r/ ueg. the value of the mortgage+the interests to be recieved in the future. # T: T6 C/ c( ?6 A  w% M5 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.
; Y1 M( Q( k" O; x- G, Jin stock market, it's the demand and supply pushing the price up/downwards.
& G' |3 w2 a8 N3 kFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 Y: \- R; d1 \* l( b% L7 O6 YA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 x. f" k. j& G$ kThe 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.
9 x4 r: ~8 F( C) lbut the value of their assets did really drop significantly.
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! E* f3 R8 i6 q* L[ 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
, B& j$ m: s6 u) i" ZRefer to last example,
& N+ q# w; t8 @9 pthat means bank A have no money because we borrow 10 dollars from bank A 8 y$ K  k4 O( m, H$ m0 t
Because bank A doesnt have enough cash on hand
- Q$ _0 T" j0 v3 M' e6 f5 _therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E+ L# S! O. f2 P
so does it mean if E failed to pay D,   }1 {, ]8 q$ V0 o9 K  H
all the B,C,D,E have to go bankrupt?
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; U; r" }3 z2 H6 Tthe multiplier just tell how much money created in a whole economy,
8 l- R' J2 w3 c$ d$ G& [in this case it doesnt really matter how much money is created,
' I' K& |( q& d" l  P+ @it's the problem of the debt itself.7 e1 K" L' S# E
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
7 |% h  v- J! Z. Z# f$ e& Q小弟一直都唔明...
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- T! }# N2 h" [' D+ H, m8 N" i全世界都蝕錢，咁邊個賺緊錢呢?6 ~' V) J" d5 ^# w0 }

- }$ Y5 M9 p. q7 |, T無可能淨係有人蝕錢無人賺架嘛.... O  d/ B/ V4 `) B% n6 l
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敬請各師兄解答4 E' L0 R# V. G$ j
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Thanks

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那些根本係 紙上財富  
* q2 R6 @3 y& B) q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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: _8 w3 }; P7 l. ]/ Yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  G4 n' b4 X3 u8 B) b3 F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 ~0 a' G; u! p
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
: S8 E1 e7 G0 c2 M7 v! k3 b+ l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# s' g2 [& |( I8 E  n3 G3 I+ b扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; q3 {. N0 P, F
計番回報率就已經係50%,所以可以好好賺3 x/ w, V" w' W/ R: f. ]& N
前提係銀行之間要互相信任先可以咁樣借法% Y) X+ o& @4 S4 {, V
同埋個市場既前境要係好先得2 a1 a+ C0 X- j( b2 L1 ?7 ]% J
但當經濟一差,公司估值趺了,物價不升反趺
! ?" C2 t. _' {& b9 _例如剛才說10蚊的, 趺到得番9蚊, 9 Q" p7 N& E- W3 `; T
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 ]; b/ A' v) ^! J% B* H( a( g
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,
. F5 A2 g. g6 L& 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,   e' o% _% n1 G1 v( o% U, u. B9 p3 U6 R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. ^0 Q7 r' V5 x' h( q. D9 j0 J1 x" f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
! \  g& s  Z1 w( l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# A& O; `1 _/ d
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ Z" |$ n. _, V0 Z; v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; {; c( u9 F6 P* ]2 W& y. T6 z" A$ ~
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, V! ~9 n! K. b( G: n' X
咁你話d錢蒸發左去邊? ...

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正係咁樣2 s0 p6 v, n  R( n1 `6 z/ D
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3 k2 E- |$ ?1 [- f# s% E9 y( |1 n6 x
分分鐘佢地唔使還錢8 S* S7 S9 L5 \0 A8 H/ e8 A- j

$ I9 o5 l$ Q  X+ O# C) _/ G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,/ H: r  M8 y. C1 x8 k3 c& `" n
連國家都係問人借, 不停發債券, 印鈔票
6 [* [$ |; `* z% X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 B1 l# j0 I, Y- y
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" _$ ]4 _2 s0 T0 ]1 u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 w2 S1 m+ W8 A/ I9 i% \
因為以前未生產, 先消費( U- @0 A: k9 D' f# v% j; e! ]8 q
而家就要多生產, 少消費