0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 E: @: n4 I0 m7 gWhy bank will sell 借據給第三者???
/ W5 a& B/ x: T8 ?$ uI was so confused.....

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講到尾都係賺錢
$ z8 s5 {6 D- c; E! k2 W/ [so銀行可以不斷放款; P( F  E6 g0 w, h( o+ u
美國的房貸問題散佈到全世界
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) k1 c8 J) _( K6 Nmortgage loan
) }9 @# t: z+ _8 g>conduit# {* j) U4 K- |# Q0 a: B9 h
>RMBS(Residential Mortgage Backed Securities)+ H# I" C; c4 L# B: D
>arranger- Q/ F! h5 J3 z* g
>CDO(Collateralized Debt Obligation)
3 W3 I0 X/ f; o* X8 L最後去到投資者

Kev

i thought it is the reason of rate of return.5 d* o* L" }+ i0 C3 [
CDs could have different ratings, AAA -> F,
! D0 a2 b& x) w: U1 j! Imore risky ones would have higher premium (interest rate) as a compensation for an investment., x( d0 f( O- E) G0 J5 ?3 Q5 ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 o5 ?& G/ c# W$ V5 k7 t" K8 h9 \- uin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ ~3 B$ w' L! B, o8 K* p/ G* v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ V, ~: ~: |7 U, t; n3 S
similar to bonds, CDs trading in the secondary market have different value at different times,: e( |; l& X/ R8 x
normally the value is calculated by adding it's principle and interest.
) z& Y' K9 ^6 o7 Deg. the value of the mortgage+the interests to be recieved in the future. 5 L3 P; g* e5 j) J
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.; I! X6 W4 P" O' b
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im not quite sure if the multiplier effect does really matter in this case., I! q6 Z3 H% x; }9 p5 }6 f8 \
in stock market, it's the demand and supply pushing the price up/downwards.
5 ]- T/ ~, R8 k1 u2 m7 `For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' h  l) m9 S% q$ u2 ]A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 j1 j# V7 z4 ?/ 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.
/ {5 f6 r" |2 h+ X1 Rbut the value of their assets did really drop significantly.# A* S* G5 t6 n5 S* i. s5 B

$ G# ]9 i) G$ w, l  @, e[ 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+ Z6 {! f! u, h# D# Q
Refer to last example,
1 S  ]- w9 G5 Cthat means bank A have no money because we borrow 10 dollars from bank A
7 p# J/ p/ K/ m( x, VBecause bank A doesnt have enough cash on hand
$ ]. Q" C+ M% i, otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
$ F+ l6 u9 W* l1 [so does it mean if E failed to pay D,
% \$ [4 `5 ~: ~& S" Qall the B,C,D,E have to go bankrupt?5 x; }, P/ c& @# ~2 k' T

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9 }4 Z0 g5 p& k7 n) B& @the multiplier just tell how much money created in a whole economy, 5 r# U( U+ _4 u* r9 O; d
in this case it doesnt really matter how much money is created, ) P- `* X6 V" q  C! t7 g: [* ^
it's the problem of the debt itself.- t( K  y1 Y' W
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
" z' R- O( M4 w, c% x9 ]$ W小弟一直都唔明...* H0 R1 I$ I7 R4 X  j, G' J
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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...8 C: V' j# X! Y/ h

1 a. S( ^" a/ I; F; I敬請各師兄解答
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% Z+ o$ c# t% {$ k2 m+ HThanks

$ H" f; M6 u4 A6 g那些根本係 紙上財富  ! B* K) s/ P8 l
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2 d$ O/ `0 a6 Z; T2 E8 t
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: V5 `% r! P2 r5 K* q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
& T; _! c2 h/ L6 j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦8 d8 a6 G/ k  z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, z( r/ w' c" x& k) s- y
計番回報率就已經係50%,所以可以好好賺
/ k" C. B& ^8 Y( J+ l% ]/ H前提係銀行之間要互相信任先可以咁樣借法
$ X# I7 [1 v8 M' w# @同埋個市場既前境要係好先得' `4 b9 p( ~8 O/ e3 n( j4 G
但當經濟一差,公司估值趺了,物價不升反趺6 W4 `0 V5 h: b2 P7 ^# A* @
例如剛才說10蚊的, 趺到得番9蚊,
8 x9 }* e& S- M& A" y' C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 S! M5 J0 _3 Q; Q' t  P所以你就會覺得D錢好似蒸發哂咁& j( W9 p- U8 y0 S6 e

7 G; O6 v0 ]3 G你都可以當標野咁諗, 個樣野多人可以狂升值, : `$ z& H5 l# [" |; e) L% l! g+ }3 n3 B
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, 0 |6 W/ Z/ m) u* E$ I' c7 g) G+ n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # j1 A4 d% ~9 E& ~- y4 Q
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 {; Q6 |# N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.gif6 |% y/ G' y- Z- d1 u
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # l9 u, F6 _; \" N( [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : n* j4 h2 X, {% }4 T
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
4 w4 r7 \. j6 S' x! f咁你話d錢蒸發左去邊? ...

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正係咁樣" J: |2 t' i& b2 {3 S+ W
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) a: z  S# x# s& K* S
分分鐘佢地唔使還錢
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5 `3 D7 U* S2 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,( Z# e/ \' Q0 Z6 @
連國家都係問人借, 不停發債券, 印鈔票5 X7 l1 n6 }1 W4 D/ n  ]
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: Q3 ~7 p, k/ s  G( C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% m7 s1 |1 Z  h; A, F% x" \
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 H, N" ^9 G3 E8 u其實係...9 C$ I  U: u/ [1 r4 @
因為以前未生產, 先消費4 N* H; j# s* T: x5 j2 _, c
而家就要多生產, 少消費