0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 r. c* r! m* z5 j( ?
Why bank will sell 借據給第三者???
! Z' d9 b- z8 ]+ @" n3 ~; nI was so confused.....

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講到尾都係賺錢, i5 N' A' N& J
so銀行可以不斷放款  C0 t" }" m& b0 C  `( M0 V
美國的房貸問題散佈到全世界
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7 m) u' U- M9 d# Z$ ~9 R# Omortgage loan
7 ]. R8 N3 [. r4 [  z>conduit
3 M! u! I% C+ P4 q>RMBS(Residential Mortgage Backed Securities)
  o, V8 L0 b2 G4 t9 d; y>arranger
5 S7 w" t& y7 G: c- ^, p4 o>CDO(Collateralized Debt Obligation)2 I% b. r# P. [/ A, n
最後去到投資者

Kev

i thought it is the reason of rate of return.. L" H" o- X% j
CDs could have different ratings, AAA -> F,
8 G0 o0 ^3 j( ?/ A: c( Emore risky ones would have higher premium (interest rate) as a compensation for an investment.
; f: g2 Z$ b7 G9 y6 T" Zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ g( o( y" c4 |
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 J" b$ }2 M  c% _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( F# e# _" ]- u% q" Vsimilar to bonds, CDs trading in the secondary market have different value at different times,
8 M- u1 v% I& k( ^normally the value is calculated by adding it's principle and interest.
5 y7 l! G* b$ S6 o2 O& Neg. the value of the mortgage+the interests to be recieved in the future.
& ]8 S- S) F& m$ t  w& }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.( b  Q/ u( L% G
in stock market, it's the demand and supply pushing the price up/downwards.
- m) U; `! ?' \* \% T  YFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 p4 `( Q1 s3 d: s; N
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. H1 x$ |7 P5 O' A- k
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.
5 T* M6 d* N! F/ P) j5 a2 xbut the value of their assets did really drop significantly.- |% ^) l% N7 m

& c; U* S' L7 v[ 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
+ D3 t& d2 l/ _7 E" wRefer to last example,! W6 ?7 a0 W! i/ u( D  ?
that means bank A have no money because we borrow 10 dollars from bank A 5 t; I# @" x# j+ v% d8 A. ]) i6 U2 |
Because bank A doesnt have enough cash on hand ! w' }3 g( u2 E& }  ]
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 w4 M/ _0 M, x4 T7 P9 ^- X$ G0 R+ _A->B->C->D->E, w& W8 ]5 e, Y) _( G: f
so does it mean if E failed to pay D, , ^" N9 k8 i% B& }
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
% v4 G: t6 M+ @0 z# Fin this case it doesnt really matter how much money is created,
" A" P2 W6 M; K& Q! A* uit's the problem of the debt itself.1 Y7 `* _" {& k3 T4 d: n  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/ B' k$ D& q, ^0 P' l2 Q
小弟一直都唔明...# G2 W3 b4 E4 e
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全世界都蝕錢，咁邊個賺緊錢呢?
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' x3 c' H1 }5 n0 i4 F2 m- l/ e! W6 ]無可能淨係有人蝕錢無人賺架嘛...
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& f0 b) W6 m! T$ x敬請各師兄解答( n8 {' w1 [2 Q9 H; A

2 }/ I( ]# j8 \; J. MThanks

1 J- `- C% ^3 A那些根本係 紙上財富  
3 b% L4 x4 {( d# E6 X0 P1 p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 [; t, R/ P( thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! W4 A1 J. C- c) q- `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 z( \* z( P' x. t/ J
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  s1 k% ^/ m' g- J2 o0 K% X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 @( ?2 a7 D0 Y: a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 w6 d! W  `6 x. R3 `$ i. T, }! S
計番回報率就已經係50%,所以可以好好賺
3 u  j+ C& s6 _7 H' }: H前提係銀行之間要互相信任先可以咁樣借法4 v$ p9 U/ L3 _2 ~& M
同埋個市場既前境要係好先得
. j, ?/ Q; \: @但當經濟一差,公司估值趺了,物價不升反趺
, V9 a2 W. y7 \) H% {  A例如剛才說10蚊的, 趺到得番9蚊,
. _/ j% s& a4 y9 C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 D3 F( [% X4 X- R- [所以你就會覺得D錢好似蒸發哂咁0 O4 z& r1 X+ P# M9 X1 P

: [: [6 p- z, j% E  k你都可以當標野咁諗, 個樣野多人可以狂升值,
" \1 i3 }4 F, {8 {( p1 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, & G4 x5 Y1 ~& _- s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * e1 f" E' D$ c) l8 |
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* }& h- r4 N1 A3 ^) b6 N
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$ L4 Y) T9 r1 N4 y3 x) {  ^  l
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% W5 j& N8 n/ _  K淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( n3 i4 r; Z" x* T/ l( Q! s
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1 \' ]7 `' X( b' _2 A. u8 E/ j
咁你話d錢蒸發左去邊? ...

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正係咁樣
0 A- ?# q! R0 [8 T! j( U4 h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+ o2 g1 H# U! N; s5 Z1 p: a
分分鐘佢地唔使還錢
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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,6 L5 W% y4 H( e) e. m% W2 p7 g3 c
連國家都係問人借, 不停發債券, 印鈔票7 r7 X6 D' f. V: Z# w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. T5 `5 a6 J! K4 f
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" t, m- j' C# y: Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.../ w9 S- M; g2 \) V
因為以前未生產, 先消費
  ~* `9 T4 P# y; }  |而家就要多生產, 少消費