0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- `9 \/ x, Z# O% B, K% }Why bank will sell 借據給第三者???
% \) S& H+ j8 i2 z0 oI was so confused.....

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5 H" S, B: s6 u2 L9 z- j講到尾都係賺錢
! o3 v8 \& L9 @  v7 Kso銀行可以不斷放款
. R4 O$ G' T: I4 G" n" i6 C9 i4 v美國的房貸問題散佈到全世界% G0 }6 A! N2 y! I# T* d6 a
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mortgage loan 0 \7 ~* Q, y# p* v/ o& @/ X4 k
>conduit- J8 G2 K% r  c
>RMBS(Residential Mortgage Backed Securities)2 c. N/ q( W" Q5 {
>arranger7 g4 Y; B. H5 I, W+ H
>CDO(Collateralized Debt Obligation). y  _, i: ^1 S4 j! E, b0 \
最後去到投資者

Kev

i thought it is the reason of rate of return." L9 v, O; h' U8 E2 }
CDs could have different ratings, AAA -> F,
7 P' m) L/ V# qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
% F6 k- n, u! V! Qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 J; w6 O0 z2 v: h9 ~in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 Q+ u. ?9 W* u9 r2 D5 o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 R* t' G1 o! z' ~- d5 l9 q& X0 ]
similar to bonds, CDs trading in the secondary market have different value at different times,
; _* I* C0 G# v! J3 Y" ]/ |& Dnormally the value is calculated by adding it's principle and interest.
2 Z( `+ g3 A8 A% ?% k' feg. the value of the mortgage+the interests to be recieved in the future.
% M# B( P" }' R; D$ o2 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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& y  u1 r9 j3 R" z0 Rim not quite sure if the multiplier effect does really matter in this case.
) j; }  S" z: y! ain stock market, it's the demand and supply pushing the price up/downwards.
" [8 c+ Q7 V* i  zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! |% z) }$ F; T: s. }, JA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." |! J& k2 B2 X( i% C: b' B
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.
) r# F9 ], {$ `+ a' \! }, Ebut 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
- F  R+ [! C! x* g' \Refer to last example,0 J: S1 v( _/ e! a+ W
that means bank A have no money because we borrow 10 dollars from bank A , C* ^8 q0 w0 r/ O' w" b
Because bank A doesnt have enough cash on hand
. y) Z# Q0 k' k; O- E1 S& e8 p& _therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
- |2 }$ U- [9 T0 G! sso does it mean if E failed to pay D,
* I4 u) f/ a9 ^" Sall the B,C,D,E have to go bankrupt?! N" L( H3 @& |" e
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the multiplier just tell how much money created in a whole economy,
" X$ S3 u) L! R- L6 K/ Yin this case it doesnt really matter how much money is created, * k3 V5 }& ]3 T$ Z2 A/ m8 F* u# y
it's the problem of the debt itself.
; a/ o2 @, @# Zthe 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
: v" f+ Y: a( r. {* W! J: e小弟一直都唔明...; H. I8 A, Q$ {* r/ b2 H
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全世界都蝕錢，咁邊個賺緊錢呢?! g6 g) H! D. o1 j+ L

0 j+ H$ ?9 @3 ~/ L無可能淨係有人蝕錢無人賺架嘛...; s5 M0 K" x9 j0 a% f
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敬請各師兄解答
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- {  c' U- g4 ~/ E# `7 fThanks

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那些根本係 紙上財富  # L& K: v( B3 \, P
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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5 ^0 h+ D, {9 s: r7 Z+ N. [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
3 {5 ?2 ^1 c, N% e4 X# R8 b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 y8 g( _0 j+ b% f- P
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0 h2 {0 `0 L: U" |$ y3 E5 c
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% U+ {  c4 J9 Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ O* c5 K% A6 V計番回報率就已經係50%,所以可以好好賺1 m, s) J8 ~) s/ g+ X% ^
前提係銀行之間要互相信任先可以咁樣借法  q# J9 z2 q, z' p
同埋個市場既前境要係好先得0 k" s/ h* S4 X3 O
但當經濟一差,公司估值趺了,物價不升反趺
) d1 E, Q- Y% U/ e& w  d# }5 j例如剛才說10蚊的, 趺到得番9蚊,
6 I& J8 m( X) Y( U" o% a咁投資銀行一下子就要還11蚊, 一來一回變左虧200%" {! m. U/ o) f9 ~% E
所以你就會覺得D錢好似蒸發哂咁
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; Z" N  n5 Z) K4 I6 O2 v5 i% ]8 x你都可以當標野咁諗, 個樣野多人可以狂升值, # k6 Y" A/ d+ E+ ^- ^  |
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, 3 ~+ S3 r$ |+ P4 T5 o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - b, W! e- ~2 X1 w1 q* p, m- q4 `+ 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
# B, S4 J* M1 S; v  [7 `  _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
1 z# R7 x4 [" |9 Y8 A唔係d錢蒸發, 而係比美國佬洗晒未來錢, : c9 T1 Z9 v+ y, d. k5 }# K$ p" M" s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . y2 L7 i8 n+ O# L: 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
# i& F4 B$ G# b) v+ f! a& C咁你話d錢蒸發左去邊? ...

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正係咁樣
3 E- T, O$ F# h; ^# F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9 o- J  K2 v1 M9 B8 k* f. d
分分鐘佢地唔使還錢
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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,! \' S5 B* {5 t3 W% @! x: q
連國家都係問人借, 不停發債券, 印鈔票
/ G0 ]4 _+ x* r% J, G( a7 X& u" ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! j/ t, n' o4 M" o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
* w& C1 x! G2 b+ F- o* r+ {. A9 f咁而家"爆哂煲"算唔算先至係變番"正常"???

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% B) P- a8 V7 a1 j$ e4 h& b- J# z其實係...( U. N% U; K1 l
因為以前未生產, 先消費
8 \8 e# f3 d+ e8 T: i4 J而家就要多生產, 少消費