0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 _6 j4 y* y" {. U& w0 kWhy bank will sell 借據給第三者???
2 r. e4 G) s0 x3 ?+ m8 w9 VI was so confused.....

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講到尾都係賺錢
1 e* V4 z/ s1 t; Wso銀行可以不斷放款5 L, W9 d1 Q* @/ M8 O1 F2 p
美國的房貸問題散佈到全世界6 I, Y5 S: j7 O+ @6 w

5 x8 d. \8 ^5 gmortgage loan
8 h/ ~5 T& e4 I2 l2 k; G5 J) f- s>conduit
( _4 {8 N! n, d>RMBS(Residential Mortgage Backed Securities)
! s/ u1 S/ ?. `, j' A; X>arranger
1 T# K# u( @' \; t+ r>CDO(Collateralized Debt Obligation)
, W9 x( Q6 V  H  T" m最後去到投資者

Kev

i thought it is the reason of rate of return.
- I- |! P" D# c4 R1 f7 VCDs could have different ratings, AAA -> F,& l, ~6 @$ J: C) W# ]8 _$ Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
' F! g5 v) s" W. o+ Rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# D$ s4 H2 O% ]& r6 f
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. a% Y% l. |/ N" C$ TAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' R) ?- w6 L9 G4 r; @* S
similar to bonds, CDs trading in the secondary market have different value at different times,
/ D5 ]6 ^; f0 u+ Inormally the value is calculated by adding it's principle and interest. : [) G6 z, k( }3 x: x- l
eg. the value of the mortgage+the interests to be recieved in the future. 9 ]% h6 z: d( @7 S* 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.5 b/ P* K8 j! G; e5 b. r( H
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im not quite sure if the multiplier effect does really matter in this case.
, V1 f: g7 ?/ ~- ?. _/ Oin stock market, it's the demand and supply pushing the price up/downwards.4 `* P$ p4 L) M/ U4 [
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 S# j# ^* f: L) c# Q6 g) `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; O+ U9 h1 r4 n" }
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.
# v6 w4 j: f4 }( G8 y" ?) X- ]/ Cbut 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.gif
! n7 l5 O  c8 U$ a. t! k+ I& cRefer to last example,/ S4 ]  E# c3 t8 ]9 n$ q/ A0 }
that means bank A have no money because we borrow 10 dollars from bank A
! u6 G* D, V: ]8 d8 _2 `Because bank A doesnt have enough cash on hand
4 Z4 b7 Z* |; |0 L/ @) F4 gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 ~/ m7 M4 a) [. fA->B->C->D->E
# m  X: w* }5 O6 }  hso does it mean if E failed to pay D, 0 k, ~4 b2 Z- c: e4 I4 b
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, 4 s) F6 ~* q, \+ Y. D
in this case it doesnt really matter how much money is created,
: y7 `% g: C  C6 w9 A- b) iit's the problem of the debt itself.# h* h' `% g9 F1 Z5 s  A
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
6 A- W, l$ }) }小弟一直都唔明...
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# m. m; e& A1 u7 |' `1 W+ {' c全世界都蝕錢，咁邊個賺緊錢呢?
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# q' P+ l9 ~5 T無可能淨係有人蝕錢無人賺架嘛...
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! U- {  O# t- D, C8 `% _1 a  F% c敬請各師兄解答1 E, N+ B5 _3 E, p% G# p

- a! i% ^, x! V7 gThanks

" N- X' Z. K5 o' I; x3 P那些根本係 紙上財富  8 J2 U  a/ E! G2 L' l, z/ M
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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( L& E0 Q) B( Ghttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
" O  s( M* V2 t# W) K* c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 _) [, M! j3 N3 K4 W2 W
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- n* W* E% ~- a
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: {0 k- @0 q( Q3 r1 s) h: y7 B
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& h% x8 K4 D2 d( a6 J" d$ M2 L計番回報率就已經係50%,所以可以好好賺
; b0 c2 {" R+ b2 u% S4 t2 ^前提係銀行之間要互相信任先可以咁樣借法& Q6 E7 i6 L& ~7 }. S+ W5 G
同埋個市場既前境要係好先得+ y8 L3 ]' ^6 M$ k3 \5 o% l
但當經濟一差,公司估值趺了,物價不升反趺
7 w0 P) V  x5 z+ \8 S例如剛才說10蚊的, 趺到得番9蚊, $ I  U/ ^* _  l
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; G% V9 k: \% e
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, 6 H4 q2 K0 V* M' d
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, 5 t8 Q- P6 E% D6 }) G# u) z2 G' Y6 n/ }
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 y( Y: w! v% n. V- X
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
& L# E% w  y' W, F. |' 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.gif2 E; }9 J9 x& L0 m( V: n- m- `/ A
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 E* P5 O) X- D1 i2 _; }. i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 W0 J( i( K  i( m' q3 x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 L' [2 h1 S& k1 k% Z- x  z
咁你話d錢蒸發左去邊? ...

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正係咁樣
$ r3 l0 T* T) i2 J! T: m: 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2 W2 X9 p0 g) M* U' k
分分鐘佢地唔使還錢; J- v. |) Z' @3 i6 F: a: f

# y+ l9 s& G, F: Z* H1 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,
( i1 _7 Y2 [- V1 L連國家都係問人借, 不停發債券, 印鈔票
/ @& T  ]( X$ a. R) ?4 q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
5 V0 e" w2 X/ R! e' @7 [4 V  b' S& u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
) V' A8 K2 c) n咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ ]' R# }; H  A1 [: f( V1 c
因為以前未生產, 先消費6 t& X- Y' W  y  n' v6 b& o
而家就要多生產, 少消費