0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif, b7 k7 {0 k' [2 r% q. X7 y
Why bank will sell 借據給第三者???, u3 N: a8 n- F  B; P
I was so confused.....

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+ P. A. m7 y( I% N  J7 p9 `講到尾都係賺錢, R# }  E/ S/ |8 e
so銀行可以不斷放款7 E6 X8 h7 f8 c. |
美國的房貸問題散佈到全世界
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/ M( [7 B- o0 ]( s3 j6 M2 G4 V9 Dmortgage loan ' w; y, @) A9 n# j- s
>conduit
3 |. A+ |6 B* e>RMBS(Residential Mortgage Backed Securities)3 A  ?4 j* c  e  \5 B" R
>arranger* D* I* o. @2 p$ b' @+ V8 ?
>CDO(Collateralized Debt Obligation)
  C  J7 I6 l6 U最後去到投資者

Kev

i thought it is the reason of rate of return.
/ U1 M/ t# n  {# X1 D8 xCDs could have different ratings, AAA -> F,' J" ]9 ]+ |9 w- G) U6 d
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- ?! {  I, C$ kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 b. @: S0 j6 ?0 V1 lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( K/ r& G( D! s! d: V. p/ FAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
/ Q. d! `0 E) p* z8 t( Ksimilar to bonds, CDs trading in the secondary market have different value at different times,
# @6 |1 T, _8 n4 j3 Gnormally the value is calculated by adding it's principle and interest.
: P% H, u! a1 [) `. s2 A3 m  Teg. the value of the mortgage+the interests to be recieved in the future.
1 \. @0 G8 j" e  H6 Obanks 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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1 I2 d. U1 F/ zim not quite sure if the multiplier effect does really matter in this case.7 k+ ^5 k- L3 U5 Z8 ]; N' m
in stock market, it's the demand and supply pushing the price up/downwards.* D# P0 f7 P0 i' W+ Z# H% n& i0 X
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" L8 p( A* L8 e4 @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 S5 H8 g1 j6 P  o2 TThe 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.
: s2 ^2 C( `$ Y  S& ^7 Hbut the value of their assets did really drop significantly.
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) R2 X% b: d# p+ \[ 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( C- x3 b) G( I1 F
Refer to last example,7 x8 s1 p8 @6 o
that means bank A have no money because we borrow 10 dollars from bank A 8 l5 y0 I& d' n2 D2 r
Because bank A doesnt have enough cash on hand
/ x3 H. A+ j7 L  k4 [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 ^, u4 ^2 b  c' b8 `: q# vA->B->C->D->E
: t; ~0 S/ B' Cso does it mean if E failed to pay D, & d# H$ ?% o. H: e$ W( `; [3 v
all the B,C,D,E have to go bankrupt?% d7 V% G* r) C" d# }( n$ @" C
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the multiplier just tell how much money created in a whole economy,
/ f- t5 Q) j# o# G- p. uin this case it doesnt really matter how much money is created,   }. T+ }4 ?( e
it's the problem of the debt itself.. F) [" |, p) P' \7 a9 m  D
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
: B3 e7 ?0 g1 t" K! B- n1 U% E8 |小弟一直都唔明...2 _) o( V8 H4 A# H2 q* K& k8 w

8 b5 Y6 ^, v- R* D* g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8 k  q2 g2 }3 r
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Thanks

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那些根本係 紙上財富    m  y& l+ P- f2 C2 Z. y/ 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. ^" _5 n1 w6 E' V; E) ^* }

0 `; f4 G# Y; L: |' v. ihttp://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 r3 g1 n  N2 `; |  T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: _/ p4 }; V: H/ `& X2 b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
2 H# p" r; H$ `7 r個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- R0 ]" O) K) l  m1 e$ O  J
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  b& N5 \5 X- q計番回報率就已經係50%,所以可以好好賺: \" r  F3 f5 c7 s; g
前提係銀行之間要互相信任先可以咁樣借法
, J4 G! q0 o' v7 [同埋個市場既前境要係好先得
& ^6 m" m! ~2 t7 k2 u但當經濟一差,公司估值趺了,物價不升反趺
4 A" @+ Y1 i) s5 D3 e例如剛才說10蚊的, 趺到得番9蚊, & H; @9 ^. n( k, P0 H. C
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: @* d* b/ N8 s, F/ ?' \1 o. I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, . d: x& B& U  w, ^& V" Z
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, ) t8 @- h7 @9 h% m' I: j$ N) `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 L* Z; Q0 a( }8 e9 V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$ M. z- w7 j- N9 P9 s
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
! \( G; R% {4 R7 {5 _唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( P1 z$ u  D2 V6 s+ h2 R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( }# g! s5 h9 r% b; l3 W* V- l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 W# {& X; P' N6 `  b6 ?咁你話d錢蒸發左去邊? ...

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: d9 U' B+ p) ^, W正係咁樣
. i3 F/ r9 Z$ C' i6 @+ T! b4 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
6 k- h& x( v1 u0 \分分鐘佢地唔使還錢+ o4 ~2 E- G1 H

" L% h5 k. j+ U: s4 R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,
+ g  C" Q- a* `+ q* K  E連國家都係問人借, 不停發債券, 印鈔票# L  N, _+ r4 p& Q" t7 g
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 P( n6 x: a- K9 t  Q
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.gif3 w2 L4 `' Y  ^
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! U$ [- D6 |" _  t
因為以前未生產, 先消費
2 L( C  }! s5 r: y( n; D2 U而家就要多生產, 少消費