0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% D" m6 ?/ ?% \* e& S1 F3 q- SWhy bank will sell 借據給第三者???% s1 }6 q+ }4 |( H- p
I was so confused.....

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講到尾都係賺錢
% f8 B$ _5 H. Fso銀行可以不斷放款
1 ]! D  M8 X2 X2 p5 o美國的房貸問題散佈到全世界3 g* t. H4 b! K$ @( Y

  u6 D& B" V- r5 m7 t  Y. {3 emortgage loan % o! k2 P$ u, [- P' m
>conduit7 p) ~, i) O4 \& |& }0 ~0 P
>RMBS(Residential Mortgage Backed Securities)) _; |- f# t$ m. M3 @
>arranger0 p4 Q1 Q/ c$ W" z1 j" [, z
>CDO(Collateralized Debt Obligation); L* W5 V# d! p
最後去到投資者

Kev

i thought it is the reason of rate of return.
9 u+ ^1 _$ ~! w" k9 ECDs could have different ratings, AAA -> F,
6 l" N, S1 W' g3 q, G+ G, Amore risky ones would have higher premium (interest rate) as a compensation for an investment." _) ~. f/ m3 `$ _, M
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 O" W% d8 {( y7 o" `3 k! |* Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! d! O# ~) C; W" r! _' n" {3 QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
/ X' m" [) L. a3 O( ~3 T. [similar to bonds, CDs trading in the secondary market have different value at different times,
5 v. N: |# c; U# inormally the value is calculated by adding it's principle and interest. # ]+ D; g3 Q- Q; T* \2 l, o7 r# ?6 ^
eg. the value of the mortgage+the interests to be recieved in the future. ' p4 C1 V2 ?7 k8 V! [
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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( z6 ^/ Q. m4 F& f8 nim not quite sure if the multiplier effect does really matter in this case.2 U  l! V% Y1 V+ X
in stock market, it's the demand and supply pushing the price up/downwards.! X7 H6 U* s9 ]' w* y; d: M8 f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 C1 n: K1 Q$ V2 |; f& V- u6 [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# s2 I' u7 @+ y& {, tThe 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. " a! |; a$ Z9 G8 T5 e
but the value of their assets did really drop significantly.+ G# V5 k5 U$ ?: g9 b" ^
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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
" a* J  l  p, P4 CRefer to last example,
: o- @' \: h1 q0 ]4 Z5 I7 Gthat means bank A have no money because we borrow 10 dollars from bank A 4 x) Z* M  t9 E* S
Because bank A doesnt have enough cash on hand
' A" _1 {8 n4 X* Dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E# V' h( h/ ?' G& @4 \# L
so does it mean if E failed to pay D,
( j* k# q9 C6 \! r# A2 b- V$ p4 {( yall the B,C,D,E have to go bankrupt?, X" h& F; z# f+ d4 k
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the multiplier just tell how much money created in a whole economy, 1 ^) Q; m$ ^1 y* y* p3 E
in this case it doesnt really matter how much money is created, % ^5 Q3 y! x' a
it's the problem of the debt itself.; ]: j2 x/ _: E/ T
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  k! C: ?/ K$ _8 g1 F
小弟一直都唔明...
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( ]. F% B- ~: q全世界都蝕錢，咁邊個賺緊錢呢?+ r! z* }( p. Y: o6 E
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無可能淨係有人蝕錢無人賺架嘛...% w- T. G% O! r' C
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敬請各師兄解答
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! a3 u6 t3 r5 q  L# pThanks

$ V3 m" F) I" A, H7 v
那些根本係 紙上財富  & R# V5 O" `$ j1 l7 Q* u
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 graphic3 J/ b8 ^' Q; @. y2 K4 [

8 k+ j7 h2 ]- G2 z( z% ~7 dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 M4 S/ \3 l2 K6 G5 K) d" z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- u2 G) \2 i/ e% q" Y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* p% l9 @% N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- }% o) O' l1 N( Z4 f
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! q- X, R! f9 M' A  y
計番回報率就已經係50%,所以可以好好賺
! q7 e0 I. s- r% w, g前提係銀行之間要互相信任先可以咁樣借法* o1 u5 j4 h  `' `
同埋個市場既前境要係好先得
, z% Y8 r: |6 W但當經濟一差,公司估值趺了,物價不升反趺
* N& _& g2 o8 s* s# V& E" x例如剛才說10蚊的, 趺到得番9蚊, $ {( }; g7 a: K7 L' Y9 ?5 Q1 y4 ^
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ o  `9 ?$ j# `$ x0 I* N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& E. T- H/ M3 l& E" V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, 7 c1 N  l6 P  C3 `: r& Y* M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . [% o- f& ~3 U4 i5 e
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
6 r: \) `$ {* g* q/ I0 r6 ?1 Q! ^& {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
9 g- l; T* F- P/ A4 X. D  M* {1 N) e8 n唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' d; i2 }. [8 M* p. e; P) E: G  k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" k1 o6 _4 b# N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
: P4 A; S1 k8 v+ i咁你話d錢蒸發左去邊? ...

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正係咁樣
. c' m! [9 n) e: F. S, z# c: d% G! I3 n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, J2 _0 |$ K1 p% u6 g
分分鐘佢地唔使還錢
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& c8 N2 D5 S- X& W: b: 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,% Z  Q2 C; g3 K# I) U
連國家都係問人借, 不停發債券, 印鈔票
  p% L- J3 I7 a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" g9 K" U$ A& c* h  g9 M
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) r/ B4 F$ J$ Y& T7 m9 Y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 O& M! M6 k! O5 T3 K其實係..., P" K" G# o: h9 y3 {
因為以前未生產, 先消費
0 {. ~% \1 Q2 h! `9 F5 `0 C而家就要多生產, 少消費