0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ k0 x( O+ P" C; s, K  o& B% aWhy bank will sell 借據給第三者???
9 {6 Z' m9 _2 DI was so confused.....

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講到尾都係賺錢
6 ~& i+ m* K- }! Kso銀行可以不斷放款
9 g' E2 Y- u0 `" R美國的房貸問題散佈到全世界- ~) o) X. l( C0 J" u

3 |5 Y' U0 Y4 V2 d2 f7 W* A2 ymortgage loan
% Q! D# a# t- Z>conduit% u: u5 M  D1 m: E7 B7 s! O9 U
>RMBS(Residential Mortgage Backed Securities)' Q% S7 T. `% r; ~) B5 W
>arranger2 r. w& t( Y7 D4 h6 E& z) Z0 b4 Q
>CDO(Collateralized Debt Obligation)
/ \$ E9 M5 |( F7 I最後去到投資者

Kev

i thought it is the reason of rate of return.
3 c. y8 u. n. Y5 v5 Q& f! WCDs could have different ratings, AAA -> F,! T# l6 _5 a7 W. G5 o( B' B
more risky ones would have higher premium (interest rate) as a compensation for an investment.
! M! b6 |7 c6 A2 e' s: cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  e! {8 w' |+ T  S; L! \$ g+ L. S# {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 _  s/ R3 O# S/ }  i2 K" F8 FAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 c+ |/ m1 r) qsimilar to bonds, CDs trading in the secondary market have different value at different times,
$ X  w4 N# V6 F! Z  g; t4 B) }normally the value is calculated by adding it's principle and interest. : w; L8 x( w# G0 |: s- _# C
eg. the value of the mortgage+the interests to be recieved in the future.
7 {; y% i0 C' ^" fbanks 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.
% m9 A; m/ Z  ^- S% j/ ~7 lin stock market, it's the demand and supply pushing the price up/downwards.
+ a# P1 x' [8 o% y* EFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 h2 d4 j2 j. ]( v) u
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' K  w) j. l* J3 M/ o& k* e/ R) O
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.
: N6 u0 ?" P5 gbut the value of their assets did really drop significantly.
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2 A* P( O4 `. l  i# \4 F[ 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.gif8 c' }: K" }  P$ @: E. @
Refer to last example,$ l3 O: R4 m1 ?& ?  P
that means bank A have no money because we borrow 10 dollars from bank A ) ~) {6 d/ R$ |# A  l! z+ @
Because bank A doesnt have enough cash on hand 2 w* c7 j' q) l; D
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 X* V: k: S( N% u* K) H1 m( U1 wA->B->C->D->E  R8 q0 f9 m. t' r
so does it mean if E failed to pay D,
) b# f% u( i5 m1 ~all the B,C,D,E have to go bankrupt?: ]7 d0 q5 O& O2 E1 _; q, Z. W9 ]

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& z+ q+ [1 z) f" k2 _$ I7 Gthe multiplier just tell how much money created in a whole economy,
( e" D: z( U! {4 Sin this case it doesnt really matter how much money is created, 1 l5 O7 M! v- ~$ E
it's the problem of the debt itself.
1 G4 w2 V/ K; F; zthe 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
% d; m1 U" E. l7 G: {7 n小弟一直都唔明...) w+ O0 k4 O) M* [
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全世界都蝕錢，咁邊個賺緊錢呢?
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+ R: V( Y! B. L無可能淨係有人蝕錢無人賺架嘛...! ]* A' w- j3 m
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敬請各師兄解答
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Thanks

" X2 x, P( ?2 t: a那些根本係 紙上財富  
$ j. S) R/ N7 i7 }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 J+ x7 o) xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 ~6 p$ g8 X5 J* o( N$ G6 i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ e6 I& R# m1 X/ q2 O9 C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1 {' s5 \3 l6 Y- g7 i
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  l9 }7 s% s" P" _  H9 R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 r; y4 D% Q& _5 R; S
計番回報率就已經係50%,所以可以好好賺
$ D; E' O1 l7 ~; |3 Q前提係銀行之間要互相信任先可以咁樣借法
4 c9 D  q* d8 O" p! ]同埋個市場既前境要係好先得
- K; t+ V7 ?3 c) J0 V' I6 U但當經濟一差,公司估值趺了,物價不升反趺
7 V# J% w1 ~) ~; l例如剛才說10蚊的, 趺到得番9蚊,
" q6 U' [0 z# p5 B咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 ~( y! `2 a8 n4 v  K" L$ u) U7 Z所以你就會覺得D錢好似蒸發哂咁2 t0 L+ m; ^/ h9 Z+ F

. @! f, }) r$ M5 i/ ?5 a你都可以當標野咁諗, 個樣野多人可以狂升值, + K7 Q; c. p' W1 \
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,
) E! O" |. S4 g1 P淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* h* g5 ]: c: b% h- C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! j/ E. P6 H* F+ F3 t+ @6 t+ d/ G
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
8 Q% c* ?) N' f1 x唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ W+ P$ z0 F+ Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 M' Z! E( c$ b
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
$ T$ I! `: p3 g$ n咁你話d錢蒸發左去邊? ...

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正係咁樣' b  }9 T. D* z! A/ z
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: h" U; q& X8 P
分分鐘佢地唔使還錢$ A% Z/ I* g$ S& ?/ g
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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,! T7 x$ _1 u7 W% v7 k
連國家都係問人借, 不停發債券, 印鈔票  G0 w: W  h% D8 c' _6 ]! m+ ?5 O, u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) W3 {4 l+ n2 b4 ^) d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
1 g7 N( A: e& q1 O8 F咁而家"爆哂煲"算唔算先至係變番"正常"???

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% \0 H7 h4 y; v! P" ]5 E8 a3 s其實係...
, C% a, e* c# s& |3 I7 E因為以前未生產, 先消費2 S2 ^; s# p& P& u
而家就要多生產, 少消費