0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 i$ Z+ T6 l: @) C$ |' g* X$ CWhy bank will sell 借據給第三者???
0 h3 T! `" F  kI was so confused.....

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講到尾都係賺錢0 f( s5 R- B! |2 i8 R9 |
so銀行可以不斷放款1 K$ |" G9 H( }6 `$ v6 g
美國的房貸問題散佈到全世界
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6 n+ H' G+ v" P; n% D. O( k/ Imortgage loan 3 w6 B3 k  t8 _9 C- n- M
>conduit
2 [. ^* q/ E# m2 H( e; Z' M>RMBS(Residential Mortgage Backed Securities)2 o+ I( Q& ]8 u" N8 D: ?
>arranger
, o! ~9 B/ K- j>CDO(Collateralized Debt Obligation)
/ a7 O) g( @9 ?% r% b' e最後去到投資者

Kev

i thought it is the reason of rate of return.3 W3 }% D4 A, R+ Z8 S
CDs could have different ratings, AAA -> F,
2 {( c. Z2 e% V& cmore risky ones would have higher premium (interest rate) as a compensation for an investment.
* _8 H! g' K7 F* Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 w$ u% J! Q3 H% z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- ?& S; x) {4 r+ F0 l& }Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- o8 B7 |7 i1 Isimilar to bonds, CDs trading in the secondary market have different value at different times,
3 Y+ d: |4 M8 N1 @normally the value is calculated by adding it's principle and interest.
+ n+ Y. F/ i4 c! }6 ^: oeg. the value of the mortgage+the interests to be recieved in the future. 1 k1 g) p3 _" D, T6 v6 L
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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" s( P/ ?5 P+ S( a# Z8 nim not quite sure if the multiplier effect does really matter in this case./ M1 n' T! [% ^" [0 e$ C1 |: i0 _% \/ w
in stock market, it's the demand and supply pushing the price up/downwards.. t  ^" n- P) z, c- G9 ?2 T/ A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ i2 k2 ^) i) }3 u) ~A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 W* Z$ U4 I& ]2 vThe 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.
  O/ s% {+ ]/ L: E2 u! l1 Vbut the value of their assets did really drop significantly.
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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
, Q) C2 F# q4 P; S) D! [) IRefer to last example,
! f/ F; G% I( D% j; A5 c) E6 g3 ?that means bank A have no money because we borrow 10 dollars from bank A : q8 o+ Y- d( Q: S* A+ I
Because bank A doesnt have enough cash on hand + i% C+ ^! ~# R2 M3 g( Q$ s
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ d1 G0 N1 B/ y( u" `' B# o& fA->B->C->D->E
1 `, j) B# [5 P3 Vso does it mean if E failed to pay D,
0 c: `* R3 W$ E& u! L4 }! _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,
% M1 G/ s& J& P+ h2 x  X, X" min this case it doesnt really matter how much money is created, * w+ q+ p7 v/ E$ W3 b0 y
it's the problem of the debt itself./ S; [$ s7 u0 L4 G# `& h1 i! i
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 T" M8 a% [: v/ D% |9 o+ @* w) O
小弟一直都唔明...9 C7 g# G' K$ W' C* r: w
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全世界都蝕錢，咁邊個賺緊錢呢?. \: t' i, e' ]6 L

  [  y/ d% Z9 r! {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
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Thanks

" w3 S, ?% d, e0 B; R& I那些根本係 紙上財富  
0 O1 b* s, d3 O+ [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 graphic5 |" j3 q' l' N0 V, T! E/ }
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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0 r9 f- i. F# L) a# l
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ ~( z" c& \6 p+ I. ]
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! e8 m  L7 B( E$ V' b5 S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 h8 G' ^6 W# m9 E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& |; O- L4 ?$ {+ ?( A計番回報率就已經係50%,所以可以好好賺. ~( k6 q% V9 S9 r" }5 R
前提係銀行之間要互相信任先可以咁樣借法
: Y* e+ y2 L; b& [7 |1 |, [: M同埋個市場既前境要係好先得
. e! P  e  t% O. r1 B2 v5 J' ]% F但當經濟一差,公司估值趺了,物價不升反趺
8 c/ X4 _+ F! O- P" i- P例如剛才說10蚊的, 趺到得番9蚊, 4 _6 [; E) x% x! X9 f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% ^2 o( L# X1 e' {' }: a
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, ; r' j7 A$ I" t$ V* X
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, . S. E5 z6 V7 f! t* B/ _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' e7 ]' A* 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: }; W9 |5 n, p5 J7 R
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; Y" ]% x9 k' i. I/ ^. ^* s
唔係d錢蒸發, 而係比美國佬洗晒未來錢, % B( b; q0 T: `: R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & N7 g9 }; D  ^/ l  V9 V# 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
+ i( q2 V! C7 E# O4 f9 c# [3 j咁你話d錢蒸發左去邊? ...

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正係咁樣- g# ]8 e  a& K0 h9 Y4 Z5 K1 {1 s* i
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* k4 Y1 O' z, s& ^) }4 n& E
分分鐘佢地唔使還錢0 h, l4 N# `$ E% V  V

( p1 `% t$ }1 |# i( n9 F/ v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,( U6 R8 b% X4 |/ w: b7 z+ f! l" ]6 S6 V
連國家都係問人借, 不停發債券, 印鈔票! P6 G$ N. b/ m, w  c( r, L
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 W' c! b) h& p; x" o8 x7 K4 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# p$ L0 F: E! \
咁而家"爆哂煲"算唔算先至係變番"正常"???

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" L) c- V0 G: P7 k; X其實係...! t, `) F, F0 ~9 o
因為以前未生產, 先消費
# ~" m. y: {2 q: f% j而家就要多生產, 少消費