0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
+ z, j( B# t: R  uWhy bank will sell 借據給第三者???1 [" v# t2 w4 L9 K% X; e3 d
I was so confused.....

7 b0 N: d' s+ F; v0 `" B/ X
: u* O3 e' Z" l% O6 {
講到尾都係賺錢7 L  A9 v4 w5 D6 q9 K$ {" Q
so銀行可以不斷放款: G8 i% t& Y7 T: k0 C
美國的房貸問題散佈到全世界# F) I) `& M5 N; L6 m7 |+ |
1 e( i3 i$ c$ u
mortgage loan
: c5 v, h8 G) |2 M' e) T9 ^>conduit8 v: b. j4 A0 B, ]
>RMBS(Residential Mortgage Backed Securities)4 c9 E. L0 T: X6 C8 o: I7 U0 ^4 h
>arranger% e8 m5 ~, P2 \
>CDO(Collateralized Debt Obligation)
# U! G( r( H. e% P最後去到投資者

Kev

i thought it is the reason of rate of return.
& N4 o- F! R4 P' y* uCDs could have different ratings, AAA -> F,% M; p: n5 b% T$ f$ Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 J# U; [- U! ~" m$ `( f% @, S
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' n/ y, u: B$ a6 o5 N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* u0 f/ W2 v9 n% `3 {! CAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., j3 N- R3 z; c' G" `2 S
similar to bonds, CDs trading in the secondary market have different value at different times,6 |$ j2 n+ L/ }* T1 Q- W/ w& ?
normally the value is calculated by adding it's principle and interest. 4 o" @' ^1 t$ i
eg. the value of the mortgage+the interests to be recieved in the future. ; X8 w$ o- O0 L* B# p' i7 N, n0 I
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.
; D, m; s) C; N% z& Y, w8 t0 J/ g: ^6 [" o8 e( q1 E
im not quite sure if the multiplier effect does really matter in this case.
7 b. i( ]$ }, kin stock market, it's the demand and supply pushing the price up/downwards.9 X- V7 r& G2 o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; j% P  \1 l- `! p
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 o  R; U) g( |" s
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. 8 }5 b% O% S, a+ a' x! r( T( @) [
but the value of their assets did really drop significantly.+ C: u$ v; {% y9 j2 ~# D

. ?) O% R1 t) _) m! \# P3 `1 Q5 T% ?9 ~[ 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
5 M6 @! z% O6 q! a: E# MRefer to last example,5 V7 a$ |9 Z/ Q- C1 t. a3 P
that means bank A have no money because we borrow 10 dollars from bank A
, Q5 b# a) R$ E' e; qBecause bank A doesnt have enough cash on hand 9 M& t+ q9 d5 J7 Y3 r5 q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

8 V; F- j" Z$ b
3 j: M$ |- i2 j3 X! p1 F  m/ Q  T# q" o. r
A->B->C->D->E
& t/ i) B+ G5 b( w  M' dso does it mean if E failed to pay D,
8 M0 G! W+ \9 b# ?) Qall the B,C,D,E have to go bankrupt?
$ i9 o- N& p2 Q9 _: b
" m& u! v" ~' I" O+ I+ M3 a9 }' G) L# x. O1 @+ M0 A
the multiplier just tell how much money created in a whole economy, & @5 S! l) i, b7 i
in this case it doesnt really matter how much money is created,
8 u4 W% L2 r& r6 v8 [it's the problem of the debt itself.) c' [# P) J; |5 Z
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
% [: H) x7 F" w+ W小弟一直都唔明...
, N0 l9 t- d- c  v  }
/ n( t. B( Q( u* A) M' N全世界都蝕錢，咁邊個賺緊錢呢?( p# S+ O; M( M$ n
! V+ A# u0 M; ]$ q
無可能淨係有人蝕錢無人賺架嘛...
# j/ _+ ~. K9 O4 K/ u8 v+ u& e
% g& `1 H1 }5 T, q( I: j敬請各師兄解答
: `2 R! b% `- L6 J# b7 o; }$ Q7 E0 Q& z+ g
Thanks

9 W8 j- s+ q9 \5 D. }% ^那些根本係 紙上財富  4 q" R# j; w3 {$ J8 }; |
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
  f3 q1 {+ a) z
3 ?5 N; \/ a5 i$ |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7 Z  i/ _% ]3 q+ Q3 \% j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# l8 v7 y, }3 B( n3 A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2 h1 H! P2 ~4 K" S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦3 r! B3 n* e" i8 S; q: C
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; e0 J" W2 Z( c3 G/ q' Y4 \( V. D
計番回報率就已經係50%,所以可以好好賺
9 L+ M) M" t9 _" o& u前提係銀行之間要互相信任先可以咁樣借法# b  P# k* K+ e7 t
同埋個市場既前境要係好先得# n7 |$ a2 L  V% q3 L4 B# J
但當經濟一差,公司估值趺了,物價不升反趺
1 N5 S" d& i; E) p8 x例如剛才說10蚊的, 趺到得番9蚊,
4 ~1 ?& P" w% }8 ^$ y1 p) w4 ?0 V咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, q$ O9 g$ S: a, l+ I所以你就會覺得D錢好似蒸發哂咁- H% V$ F2 L7 Z2 j

# s  F9 A8 M; Q. W- k你都可以當標野咁諗, 個樣野多人可以狂升值,
" a) E3 h' ]+ r) B! A( I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,
" C, n% o! v& l& s- Y- e/ F; I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; Z! g- a! G9 J0 k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4 k7 g4 U- U3 V4 o0 q2 l9 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! {, }3 m( Z( X3 z6 E
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + a3 u& r5 g' @: [; H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) [: G9 p/ x% f! u# L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: |, O  l* a  @. k$ L
咁你話d錢蒸發左去邊? ...

) h, C  c4 j( n* D* l) [% l5 H

8 g1 m" A/ Q* Y5 ]1 E+ V9 x正係咁樣
, X3 ^3 w' o" 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
' a/ u# v. j( I6 e6 J9 i分分鐘佢地唔使還錢' E1 `% t2 l; c
7 [5 A( _3 c3 k4 Y! I/ I6 e4 F2 C
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,( U; J5 S  p% e% \/ l
連國家都係問人借, 不停發債券, 印鈔票: I" C, f% Q9 O9 d( J+ P
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; q& y9 i- u6 L4 ~$ c; U( X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.gif1 K# x: n2 a5 `2 Q: u+ Q2 E0 \
咁而家"爆哂煲"算唔算先至係變番"正常"???

0 G2 g1 q( `$ T& q$ n6 P8 P

& d( i* i. w7 r  s; p- D! ^! c其實係...9 C, C7 H) @. w, i' K
因為以前未生產, 先消費+ }! t% x, ]- @9 ~
而家就要多生產, 少消費