0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 J6 |6 M# L( n& Q5 }( l+ P: rWhy bank will sell 借據給第三者???7 U1 O( z% y& l( c( p
I was so confused.....

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講到尾都係賺錢
$ Y, a' Y( s7 `# {( c' C9 e. Z, @( o* vso銀行可以不斷放款7 R9 u: U1 r3 p% T: a+ G
美國的房貸問題散佈到全世界- s  k4 ^# {0 n* f! v

$ E( o' G1 H& h, q8 x- Smortgage loan
! N+ A% S. I; W" A>conduit. e# Y% u5 R% j& x7 w0 A7 O% O
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
2 l$ w7 K' ^1 F$ `  k7 z最後去到投資者

Kev

i thought it is the reason of rate of return.
; U; }0 ?( O- s9 K* |CDs could have different ratings, AAA -> F,8 J& ~5 g  d# K; {2 F* b
more risky ones would have higher premium (interest rate) as a compensation for an investment.& ~2 c# K' L, k& g' `& g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- ^- b. ~# g! ~! ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& J+ W  O7 S+ |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 A6 j: ]/ p4 k/ h, esimilar to bonds, CDs trading in the secondary market have different value at different times,
& ]) N4 W) |+ W  ^* j+ anormally the value is calculated by adding it's principle and interest.
2 A$ X2 r4 a% Keg. the value of the mortgage+the interests to be recieved in the future. 6 r; e8 A2 [/ [& v! A
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.2 P, z6 E3 J) Q  C
in stock market, it's the demand and supply pushing the price up/downwards.. z0 Y! E& d+ m3 W) w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- z& Y! t$ {7 }) v) ?) b" U* q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 U' r; Q1 z- P) p
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. & j. E6 V: c9 _6 p3 z
but 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.gif4 k2 z0 ^$ a' O6 Q' @! f
Refer to last example," y5 d; f! p$ x$ R- I
that means bank A have no money because we borrow 10 dollars from bank A : r5 Z, \2 Y& D4 r: Z+ x0 t& T
Because bank A doesnt have enough cash on hand
7 O7 p/ x) z6 u! dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ ?. `' l( a3 F1 Bso does it mean if E failed to pay D,
4 N: c: P7 X* }" N* Z0 Z! x( jall the B,C,D,E have to go bankrupt?5 u- C( [. ^0 r+ C; S

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the multiplier just tell how much money created in a whole economy, 1 O& K/ U0 g' u3 C0 A0 Y
in this case it doesnt really matter how much money is created,
- m6 n1 N6 D0 o* _/ tit's the problem of the debt itself.
+ n1 c& A8 T+ t6 p7 `* bthe 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.gif8 e4 o8 h7 a) h
小弟一直都唔明...0 Z; }3 c! F4 ?; O7 C: H# v
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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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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
8 t/ d+ D. |! D( n; L" ?( K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# {' a) E9 l  p/ y& h/ P
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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
" g5 I9 i/ M% c% I$ U1 ?2 M, p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" `2 X6 `0 G* n9 S9 F# s
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3 a( H4 P/ a0 c6 q5 g
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; o3 N$ x8 g! Q- K" `1 E2 Y. r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, x$ f, J# x# C4 B計番回報率就已經係50%,所以可以好好賺' t; Y& h6 ~% J6 `1 [
前提係銀行之間要互相信任先可以咁樣借法) c" |' |" y% B! F6 n' ^) k) F5 G" s
同埋個市場既前境要係好先得) _- K% F2 J' e, F1 {
但當經濟一差,公司估值趺了,物價不升反趺
( X$ j: s( w) I4 e" |) S, Y# A例如剛才說10蚊的, 趺到得番9蚊,
3 Y; j, s/ E$ Y$ ]/ g咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. ?2 a( I- V( ]/ g, I2 s所以你就會覺得D錢好似蒸發哂咁, D: V% W  `7 |3 {- `6 }  G

7 ^4 x+ }- X* N( d你都可以當標野咁諗, 個樣野多人可以狂升值,
& u0 _3 z+ G/ y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, ; I9 l- U: J  @% D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 H8 l' v( Q( 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3 \& k. S! \2 l# C3 _6 p
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  `% ~' v+ h  P3 m" B. k. z唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- y5 `* r, W; f1 @9 Z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # r& l. ^% N- A: M& \$ H
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8 c# y( t# f" E$ K8 @( P
咁你話d錢蒸發左去邊? ...

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正係咁樣
2 I! B  j+ p# X7 c; Y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( N! Y. v9 z' h# W4 u* p0 _
分分鐘佢地唔使還錢* S  w% _4 P, z, l3 l. y8 k

5 \: f! F% f" D/ o7 N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,
# ~. ?2 V7 l1 A! H0 i連國家都係問人借, 不停發債券, 印鈔票2 ]+ \1 v+ c( {+ P; q' c) C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
5 c! R. A" d$ C! Y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 @9 v: o8 P2 C- f! U& M, d
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! M% I, V/ {. ~/ M7 b) Y  l3 K/ ?/ i* p
因為以前未生產, 先消費$ M. G6 M* }! @. ^; p
而家就要多生產, 少消費