0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. x8 |7 w2 L" W# E6 j$ ~Why bank will sell 借據給第三者???: C- s' W+ o  }* u( |' ^
I was so confused.....

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講到尾都係賺錢
7 ~4 t9 m: R: Z6 C! ~so銀行可以不斷放款
  b1 o; u8 u. @; ?; L# v' i美國的房貸問題散佈到全世界
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mortgage loan 5 m+ ^' [9 @! E2 N
>conduit1 g1 I8 s; q) L) ^
>RMBS(Residential Mortgage Backed Securities)
7 m& U: h: C5 a/ L6 F: q+ R# M& s>arranger
! e  T8 o' c$ D; X& z. k$ X2 d. Q>CDO(Collateralized Debt Obligation): E( C3 D/ i3 J7 d; {
最後去到投資者

Kev

i thought it is the reason of rate of return.
6 e! I5 s$ J# ?/ OCDs could have different ratings, AAA -> F,% \+ O8 p- s4 t/ H0 I2 j  E
more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 `  H( V0 l- g4 D2 w' W/ smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 _  U* m$ h0 W1 ~0 [5 s. F: Z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 p4 j3 A! w' a' k$ Y9 t  @  x
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& O) t, Z3 n% b3 ?, a! l
similar to bonds, CDs trading in the secondary market have different value at different times,( U7 [; b( n6 ]' T. x
normally the value is calculated by adding it's principle and interest. 8 X& F1 W) ~$ c" q" Q, [
eg. the value of the mortgage+the interests to be recieved in the future.
2 A1 T9 e- B4 x+ Abanks 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.$ G; L+ l! v4 {1 k8 ]# k

/ ^8 b/ [3 Q' Z9 P# w! [im not quite sure if the multiplier effect does really matter in this case.
+ T. z( c: h1 ~; l8 ain stock market, it's the demand and supply pushing the price up/downwards.
# S' g2 z& C9 |: l* pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: g* ~/ _1 D. B# f! N4 D" l. ~9 zA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' [$ j2 Q6 p1 R3 N* t! f4 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.
9 ~, d5 F# T! D( T* v. _$ }% _but the value of their assets did really drop significantly.
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/ ]4 H/ f1 A7 A/ @0 A; W2 ~' z[ 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
3 c0 i! v7 T5 e. xRefer to last example,
5 f' ~7 G2 d6 H" i7 G) i/ tthat means bank A have no money because we borrow 10 dollars from bank A 4 C/ z( G; D8 A
Because bank A doesnt have enough cash on hand
  |( o" [: T6 [! Htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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- \( O) Q& z. V) ?* e, oA->B->C->D->E
' q5 x) B" _! H" i+ {so does it mean if E failed to pay D, 3 \/ O* _. P. i. F
all the B,C,D,E have to go bankrupt?% `6 J) }& a: D# L9 {
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the multiplier just tell how much money created in a whole economy, - G! L' p& O$ {) c) f# G
in this case it doesnt really matter how much money is created, 6 o, K' E( a7 |5 H& i
it's the problem of the debt itself.
' N% @9 S6 ?; @, Z7 f$ ^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* V2 D% F" h5 ]5 e. F
小弟一直都唔明...8 ?' T$ e; Q+ z0 G
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全世界都蝕錢，咁邊個賺緊錢呢?* S5 J% P! g5 Y( \
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無可能淨係有人蝕錢無人賺架嘛...
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/ |! e. L% ^/ |& ], E- g  X; C敬請各師兄解答6 s5 \0 ]% a9 p9 i+ A' F/ j% C4 z
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Thanks

: |( g8 e! l, I: F那些根本係 紙上財富  
/ S+ r, X1 U4 T, K+ P7 Q5 W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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) T8 }" i0 D9 Chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ |: p! K- I# w. K% ?0 F" z. c. x
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) R' n, e5 i3 h! w; m1 }& E
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: J2 o8 [  k6 @$ Y( J" [, a
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 b4 l& _- M2 \/ ]0 b扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ ]7 F: o. s7 {! {* h+ ]
計番回報率就已經係50%,所以可以好好賺# J, {+ F/ J& v6 E( v
前提係銀行之間要互相信任先可以咁樣借法/ D. O1 k9 h1 A) |$ I* G
同埋個市場既前境要係好先得
" |4 v7 G, z. }5 s3 s( F但當經濟一差,公司估值趺了,物價不升反趺
. Y3 [9 B7 N0 \  p  ?4 H* Y9 y例如剛才說10蚊的, 趺到得番9蚊,
4 |; P! j) e# W9 K+ {0 u咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) K# Z1 _& m- F$ t% J( [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, $ f7 g7 Y( l7 O) j& M
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,   z2 N2 _: u" b- V, m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 Q; ?) Q+ x% j' W0 @3 y
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
: Y2 [, F1 W+ \8 _1 M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) w- e4 F% `/ ]# n) G6 S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * Q' ]  I4 f8 i) l. a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ m+ s. }/ D9 E$ k% s4 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
$ l5 l7 ?" n' h) M# {, j: l/ r咁你話d錢蒸發左去邊? ...

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正係咁樣2 `- t3 m2 a. ?6 C& t! u' s
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* z+ N8 Q1 L% e% J! c  `
分分鐘佢地唔使還錢" P5 C" [5 z# a! u

' J. C$ ]* R% `5 Y8 v7 L) _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,
8 ?3 _6 U  @' }) ]( @# p; M連國家都係問人借, 不停發債券, 印鈔票
; m" r- I7 h# W$ b* c$ {/ ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 Q9 L+ J" v& R9 Z; b" w( J+ 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
6 Q! M; c1 D1 X9 @' y% ]: I/ L咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ M/ j; b# m5 S8 ]  ]4 a其實係...3 q/ l  |- ?# U) H% s1 j9 O
因為以前未生產, 先消費
. L8 j- d5 ]' c- K4 b3 p而家就要多生產, 少消費