0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" R6 C& g/ ]9 L$ y. ~* t) j( IWhy bank will sell 借據給第三者???
1 m7 @* ~/ @7 j7 O+ R, AI was so confused.....

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講到尾都係賺錢
" t, Z1 E- a$ R) rso銀行可以不斷放款( j% Q; \0 ]# H- V2 m
美國的房貸問題散佈到全世界" g6 q3 D. e* @) H6 O
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mortgage loan 6 _" F6 k: D- a3 _* Y+ ^; X
>conduit
' J) y2 m7 \- d6 G. J>RMBS(Residential Mortgage Backed Securities)$ H% W( i, V0 N+ N0 G8 S
>arranger/ x0 v" d& X. {6 ^
>CDO(Collateralized Debt Obligation)
" z, J) x4 M& t4 d$ f, g0 |最後去到投資者

Kev

i thought it is the reason of rate of return./ n6 p) n5 U) ?- C" X
CDs could have different ratings, AAA -> F,3 L* D5 A. K7 Y* D9 u% S) a
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( N( {* L( T* R+ j  dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' A  q2 L5 H. d! M  d4 C0 Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; V9 H! Q0 m) ^  O7 v: G8 D" [
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 I) a2 Q- e8 w7 D8 ]" csimilar to bonds, CDs trading in the secondary market have different value at different times,; {& @9 H$ F4 ?9 @" a
normally the value is calculated by adding it's principle and interest.
4 a: j: W2 e( d/ Meg. the value of the mortgage+the interests to be recieved in the future. * w! B, N- z4 X' W5 M9 z2 x$ {
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.1 m& J/ c' y+ Z7 q
" i) \, W5 ~0 n4 L2 Z3 ?
im not quite sure if the multiplier effect does really matter in this case.# X0 C; ]3 e1 G! _5 _
in stock market, it's the demand and supply pushing the price up/downwards.6 T2 e$ G' z0 z  u0 `0 g/ N6 G
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," N/ H. @" M9 @7 `4 [4 w
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 O4 x0 y& }" ^* b
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. ) W' `# W- {4 m5 x9 m& ~
but the value of their assets did really drop significantly.5 K- t4 r4 ?5 X$ N

# r  A; A8 V" d[ 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.gif9 a9 o) h, @7 U$ h- [
Refer to last example,# O, Z. E5 e" S2 m- t, J. c
that means bank A have no money because we borrow 10 dollars from bank A
5 T7 R! Q% o$ t& x; N' o! Z: m, fBecause bank A doesnt have enough cash on hand
" P5 [8 x! ~4 j8 S. Y$ gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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. E" U, U+ \4 K0 kA->B->C->D->E% E, z# J0 F2 R0 R
so does it mean if E failed to pay D,
6 d, ], h$ [3 a. n8 ?all the B,C,D,E have to go bankrupt?
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% Q5 a1 w3 Z0 N: J. ^( K' L. Zthe multiplier just tell how much money created in a whole economy,
7 a6 P, J- n3 ]in this case it doesnt really matter how much money is created,
, V' c; t, W& s6 }4 S1 o/ pit's the problem of the debt itself.  ^" D% d1 h: j3 `1 ?1 J* v" u, \
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
6 z. F" r5 D% T小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?6 n6 |5 }$ q: X" T

* N0 Q$ y& t: U! Z7 `無可能淨係有人蝕錢無人賺架嘛.... }8 o9 E8 S0 ?' b' ^9 [* M5 \
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敬請各師兄解答
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Thanks

8 E" y; h2 f/ ]1 P; x, {! C那些根本係 紙上財富  ( o+ s3 L2 y1 }0 R
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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4 @+ h  \/ \6 T4 _! Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
7 ~8 i1 R: }7 z2 E5 N當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' T& L# U5 g$ D+ [# J3 B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' _: b, u% [6 c& w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 E+ E0 u# Y/ m, ^2 D" Z4 {5 K7 E0 g扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 H7 Q) }" j' h' D& o( k2 L5 f
計番回報率就已經係50%,所以可以好好賺
) q! D  R8 Z5 y8 T2 n8 M( ?) H! l前提係銀行之間要互相信任先可以咁樣借法
" ~& [  ?' P  W' z( h% N同埋個市場既前境要係好先得2 b0 p3 v7 `+ y4 s
但當經濟一差,公司估值趺了,物價不升反趺
' _* P6 @# F; G  y例如剛才說10蚊的, 趺到得番9蚊,
6 U1 M/ d6 d' b5 ]咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% j( W$ Q# _) Q
所以你就會覺得D錢好似蒸發哂咁( |  w" J$ B$ F9 f
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你都可以當標野咁諗, 個樣野多人可以狂升值, - f2 {  T! H  U
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,
6 N" Y' E8 ?- p3 N3 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 L: g9 ?& @; f: c7 A: A* 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0 `; i/ R; @3 U: s! f
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
, x0 \% a7 B4 b& ~3 b唔係d錢蒸發, 而係比美國佬洗晒未來錢, - a( u" |) j* W" x# X, A0 ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + N. d0 H2 P  P; M1 D
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
) Y& ~9 G+ O4 A- ~0 L8 ?咁你話d錢蒸發左去邊? ...

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正係咁樣4 s$ Z' `" D, m- H" l5 X% m$ K( R
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' d0 D+ R6 H9 Z/ Y: U( Z
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,& Z. ?: p% P8 R
連國家都係問人借, 不停發債券, 印鈔票: R: T- @# K1 F- C7 ^  u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& l" m: J; x9 |7 U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; j7 v0 A+ \6 Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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  j9 q  U7 l5 t# d9 }; G$ _" F其實係...* I" t: K7 q& S" r1 u  l3 ^5 U
因為以前未生產, 先消費
* ]0 C" {! R. M: ]而家就要多生產, 少消費