0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# X) a0 D; e* AWhy bank will sell 借據給第三者???6 n* V- b7 y" Q& K3 J7 x& {2 w% L" ~
I was so confused.....

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講到尾都係賺錢5 ?' K" [, K5 Z; r& \
so銀行可以不斷放款2 s# o- [( r  Q. R5 ^& u
美國的房貸問題散佈到全世界
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# t( a* J- v7 T9 u$ Y9 ~! ~9 A( O6 wmortgage loan / }: o, B* H$ c" r' S- W: s: q: [
>conduit; `4 B0 _' ~& C7 Z
>RMBS(Residential Mortgage Backed Securities)
+ Z7 N( ?1 d& e, v, _>arranger6 `  u+ I/ m' C! s  O
>CDO(Collateralized Debt Obligation)4 V8 C; Y/ P0 v* [
最後去到投資者

Kev

i thought it is the reason of rate of return.# w) v  u2 |/ |: H
CDs could have different ratings, AAA -> F,  a5 V3 Y. w% v0 S/ i& J
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 p& o- {+ ?* O# D  ~main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 b+ M# f7 a3 F' a9 e% N/ ]in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ r; O2 \. F8 {. F# o6 I
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- _& s. b2 I" T: Nsimilar to bonds, CDs trading in the secondary market have different value at different times,
! O6 [, e, g$ n8 W; [# R6 y$ l! `! B' Onormally the value is calculated by adding it's principle and interest.
* D3 B; Z7 }9 Leg. the value of the mortgage+the interests to be recieved in the future.
9 ?, ?: {* W8 dbanks 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.: A6 I0 a: d+ R! J
in stock market, it's the demand and supply pushing the price up/downwards.( e% t% G" g4 f; N* f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% W) P) j, f/ I5 O
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) A5 T, g# l7 u4 J5 K! oThe 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. ; V1 [  l  j4 z8 a
but the value of their assets did really drop significantly.% S' m, W1 f5 o
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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, x/ o5 d) M, d) U
Refer to last example,# }5 m% g: D7 n4 _9 F
that means bank A have no money because we borrow 10 dollars from bank A & d# q1 g, W; J
Because bank A doesnt have enough cash on hand
' I  R2 h& y0 T8 P  etherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ s5 {0 m. r# m# EA->B->C->D->E# q) A& E2 i/ A: Z# X
so does it mean if E failed to pay D, + a7 l0 F6 C$ }
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,
. A" V% T; r5 S  S$ Sin this case it doesnt really matter how much money is created, ( j( F1 P8 ?* A# G# r7 `0 k' ]- }. A
it's the problem of the debt itself.6 r& }1 Y5 J+ W; E
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.gif9 q; I0 D1 i3 W7 w/ _" F+ M9 V
小弟一直都唔明...) D9 e, [6 v1 G! {; ^' {' r4 \
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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; n  ^6 I" c, a1 |敬請各師兄解答
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% O4 ?7 P( B2 h, b6 a; y  P( RThanks

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那些根本係 紙上財富  
$ K( ]8 H- ]9 V1 U  O  o( i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: C, V5 u* \8 e! D/ ^

" y  ?# b( _* p0 jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
6 @8 E" C6 D  @4 z! t3 i當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# A" ]3 J9 }8 E  w( u
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# ?; y8 u7 o" h
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ x( O1 |$ c7 K0 a
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 P* y1 ]% L) W* \9 {: {計番回報率就已經係50%,所以可以好好賺. F! {- j0 T" }9 w: k, O, `
前提係銀行之間要互相信任先可以咁樣借法' T) E2 D; \7 O: E
同埋個市場既前境要係好先得. F$ h0 l% ]4 T% h
但當經濟一差,公司估值趺了,物價不升反趺' ?/ L6 F1 Q7 j6 u5 ^
例如剛才說10蚊的, 趺到得番9蚊,
9 `9 ^, C& x, X1 l3 n咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' P, L6 a7 ^1 i. R所以你就會覺得D錢好似蒸發哂咁* c* a# j. W# {& f1 L

$ I+ I) Z  F, B0 f你都可以當標野咁諗, 個樣野多人可以狂升值, 4 x3 E. T: U% j! h8 T6 d' h  k
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,
( N6 a9 p8 O! v, c$ }0 l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , N. a$ l. N2 Y& N# G
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" C& Y( K# A- _& ]# |
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% q, l0 _3 u: t9 h0 D2 T+ {; B7 w: v
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, v  u, y- d: w6 m9 }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 T$ Y" h5 Z9 z$ T& u
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
9 o6 Y! _# p+ |* I: \. Z咁你話d錢蒸發左去邊? ...

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正係咁樣7 _) E/ s( a5 f, S# B3 C4 a
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
$ R( X8 p6 {. f! C4 S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,
" r* \: P, ?; M% r; p連國家都係問人借, 不停發債券, 印鈔票- \' |0 J6 c( n6 x3 \; l8 k0 j
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' T" A- j3 x/ t  ?3 j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.gif9 X7 W$ [; ~* V; D5 b
咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 J7 ^7 C( i# @+ L* e, ?* h其實係...
' N+ F8 Y0 S  `; I因為以前未生產, 先消費& F: I8 A; q& }; Y( j
而家就要多生產, 少消費