0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& x  s0 c8 U6 OWhy bank will sell 借據給第三者???/ g' m1 J2 g- X- t5 B) r- E
I was so confused.....

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講到尾都係賺錢9 H" x& k. ?2 a3 x# x: ]
so銀行可以不斷放款
2 x& @3 u+ s. z: X- \; B1 l  Q美國的房貸問題散佈到全世界
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+ ^- P+ Q7 Z" M! j" L: o8 umortgage loan
( ~! b/ C* t" w5 j" @1 c>conduit
, t! }" l0 j# X1 Y) y+ }>RMBS(Residential Mortgage Backed Securities)& A! z& L& K% _8 l/ |, _! N
>arranger5 Z( b' K4 N: J6 ^9 O  O8 T9 `
>CDO(Collateralized Debt Obligation)0 p% t9 ?! b! _  A) Y4 q
最後去到投資者

Kev

i thought it is the reason of rate of return.
# _$ T; U2 {( h( v4 KCDs could have different ratings, AAA -> F,0 w; s9 ?9 K7 `6 l/ ?
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" y) V% x3 T+ @- |2 nmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 P  D( r* w: U4 Jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ ~9 ~" I' @5 P
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." l9 p% e6 F" A) t4 U& D
similar to bonds, CDs trading in the secondary market have different value at different times,7 T4 |+ ]* v* {5 B. c  x9 E
normally the value is calculated by adding it's principle and interest.
5 S# C; T1 t- X0 s. B2 M# Xeg. the value of the mortgage+the interests to be recieved in the future. 8 r+ G9 Q+ P- X+ j8 K, M
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.
* R* v# F  I( [( \4 n+ f7 H" S1 Bin stock market, it's the demand and supply pushing the price up/downwards.
+ A; d( b0 n$ t5 B1 k% t( r/ JFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& l4 r# O3 R% [; o# G
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# _' R! D' z/ Z3 v  U7 B1 _
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. ' M/ X- e8 y  L5 d" Q
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.gif2 s( K. E  v, Z6 K. M
Refer to last example,5 J% Q) p$ d7 ^4 Y! M2 D
that means bank A have no money because we borrow 10 dollars from bank A # S# [7 ~6 @  I' j3 h, O1 X/ m
Because bank A doesnt have enough cash on hand
# C7 k5 K9 K8 |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 ]# a3 i8 E/ L- u" hA->B->C->D->E
3 L$ O0 [5 c  \/ R4 e* y! E9 M; I2 Uso does it mean if E failed to pay D, / W( [, d$ j! \+ `1 ?
all the B,C,D,E have to go bankrupt?5 U. s$ w1 \% Y) E- ~* H& _7 g
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3 @4 F' G. Z7 n8 K5 R- Wthe multiplier just tell how much money created in a whole economy, 8 g  O4 H. a  D7 ~+ E% v
in this case it doesnt really matter how much money is created, 2 B0 @* i5 E5 x6 Z3 M
it's the problem of the debt itself.
7 D( A# e! T' u1 f' qthe 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
1 `# w8 [; A3 z2 b0 X8 T小弟一直都唔明...1 [, v$ |0 X- Y/ n9 H# Y
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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  " z, z+ t' P" g+ d7 [. V7 R
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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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
  ]: t$ E4 W- ~/ V4 n7 j" h! W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( l$ H. p% a. s! Y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  U8 A/ E8 |6 S# U; s2 ~; D3 T( N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* Z% b2 w2 e3 Z. b. X2 \
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 M1 b! E- E7 E+ U5 ^5 r- p. b$ @
計番回報率就已經係50%,所以可以好好賺
6 Q  f  Q' g' C: z前提係銀行之間要互相信任先可以咁樣借法
% P; r1 c2 W4 p% v, d. s( e6 S. \! R同埋個市場既前境要係好先得3 T4 b) N( d. a% U
但當經濟一差,公司估值趺了,物價不升反趺5 |2 C" s) L4 R2 H
例如剛才說10蚊的, 趺到得番9蚊,
/ j9 w. ]  m6 Z& K4 E7 v9 u) S1 `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ U" c- N/ {1 G4 a; H所以你就會覺得D錢好似蒸發哂咁6 m; i% k9 ?' }$ x( I8 P
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你都可以當標野咁諗, 個樣野多人可以狂升值, 8 [( [/ w: J3 s" r! Z/ 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,
, y" @0 P" Q0 A+ j& X( k- Z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( Y- v+ w. d( X5 e: a- U* s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
2 H- R% z" R- v1 w+ I- U7 i' q* 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' ^9 n* X- s2 M8 N7 g* V
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 Y' ^  [4 k3 E7 Q1 H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. f+ L% A6 q' v5 H. l$ M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
7 d0 X& n' [: l5 f1 A- P; F咁你話d錢蒸發左去邊? ...

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正係咁樣
" n. C6 z. Y* ^$ R; U$ J$ m9 b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- w2 n: x. P- `( Y6 X0 I+ y7 P
分分鐘佢地唔使還錢' G8 A  k$ e1 s; @/ Q- G6 L' t
$ \$ ?- |( ~' B. o. `4 A, ^" X- }0 O/ Q
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,
% P0 M9 w) Y' V' M1 l連國家都係問人借, 不停發債券, 印鈔票
4 s- V" C" y) ?. z* ^' u0 P一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. ^& W! G; U% h. i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. k/ ?! L) m& d4 Y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..." c/ ^) @* v. F; p" D
因為以前未生產, 先消費2 ?( w, p, @6 c( w% @* H
而家就要多生產, 少消費