0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- }+ _) P7 N0 T: W* Y! z5 c0 Q
Why bank will sell 借據給第三者???
# S0 \% d% Q8 \' cI was so confused.....

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  [$ O; \3 b/ D4 W& o. w講到尾都係賺錢+ T% c% F! `3 d9 B2 L7 o/ h2 Q3 v% r
so銀行可以不斷放款" M' E; e% n: r7 `' @  w3 J
美國的房貸問題散佈到全世界
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mortgage loan # o5 y' s$ S" b" n! z
>conduit3 W" |3 J  V4 p8 r! K- h9 ^
>RMBS(Residential Mortgage Backed Securities)- S0 @3 ~1 O/ G( x. Q
>arranger
8 V9 X5 ?8 j' A/ U5 G* g- u' ^; L>CDO(Collateralized Debt Obligation), W; ]" _0 e  E0 j
最後去到投資者

Kev

i thought it is the reason of rate of return." m. p8 E& R& S: T1 v6 \3 T
CDs could have different ratings, AAA -> F,; b% z5 r: R9 r4 L  n& z- x
more risky ones would have higher premium (interest rate) as a compensation for an investment.
% J6 A! O# ^( A# ^1 A$ Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& [; _$ a0 r1 Z; f% Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- K' f7 f1 `! ?! D) AAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* W: d$ A0 b" o& H
similar to bonds, CDs trading in the secondary market have different value at different times,
3 q9 b1 v' E7 k' ?4 _normally the value is calculated by adding it's principle and interest. $ W) m! ?" _+ D: Z) }" d
eg. the value of the mortgage+the interests to be recieved in the future. * T& V& Z% V# P
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.9 j4 ^1 |( g7 K( B- p  L! K
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im not quite sure if the multiplier effect does really matter in this case.( o! g# Z9 r- F# t& u+ M
in stock market, it's the demand and supply pushing the price up/downwards.
/ ^% b% O5 W+ i! c3 VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 R2 T$ @7 `1 ~2 s  P% E6 v
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; G& m3 h8 _0 z6 N8 ~: c, ?- G
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. 2 B2 C# Q" J9 ]/ ^& x
but the value of their assets did really drop significantly.+ i6 @! p( w, L# F+ M

" G  d% F1 O: K[ 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
0 o4 N- h' N& F" R8 y& E& YRefer to last example,
; A4 b9 s0 G/ D# P/ n/ Othat means bank A have no money because we borrow 10 dollars from bank A
% Z+ L5 J) G5 J0 s! JBecause bank A doesnt have enough cash on hand
/ }. R: |1 ^$ n9 [( a2 htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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" u* s* D$ c* [- Y$ p! {A->B->C->D->E& o8 D2 ?6 N1 F) q
so does it mean if E failed to pay D, 4 u5 M6 Y' g, _
all the B,C,D,E have to go bankrupt?
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# {- t+ u! |- {% Lthe multiplier just tell how much money created in a whole economy, ) z1 u1 [- X5 F/ v8 _  m, S3 Y
in this case it doesnt really matter how much money is created, ' P; ~, ]$ w! l9 Q
it's the problem of the debt itself.
, B7 c& K9 J/ T' z- k4 l% 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
! ^% K7 S6 `4 ]$ t& j3 P$ B. Z" o( ^小弟一直都唔明...& J! e, h9 t- G5 H- x

3 {9 o% ^& F0 T( c( Q' m* x5 T全世界都蝕錢，咁邊個賺緊錢呢?9 z3 i0 X. Z% \! V
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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' [$ N5 w. z) [+ J- |
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Thanks

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那些根本係 紙上財富  ; f2 g  K; A5 A7 S; w6 v6 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# j0 Y, t6 X  H4 |$ k$ S  ]+ u

# k# K1 J9 r9 v) g% uhttp://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 V& S8 u% L- l! |
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" h* B* D* {6 e9 r' o0 `
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
" b7 {* Z+ Q& l# _. q2 s個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 T3 Z9 I$ S" p) n
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 {3 T$ y6 M% e! A, @  O
計番回報率就已經係50%,所以可以好好賺
6 f4 F! [* P5 _: R* I前提係銀行之間要互相信任先可以咁樣借法
5 g4 K' ~2 {  {2 c* l5 A同埋個市場既前境要係好先得
# Y4 t6 P0 |0 ?' x但當經濟一差,公司估值趺了,物價不升反趺$ B( h8 M* `, D1 T  M$ U
例如剛才說10蚊的, 趺到得番9蚊,
- w( m! `7 n8 L8 c  u' @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ Z) V) G! H4 m' c$ d! D* g9 f
所以你就會覺得D錢好似蒸發哂咁1 H  t& k$ h- q6 Y- h: X# Z# l' b
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你都可以當標野咁諗, 個樣野多人可以狂升值,
$ k/ S: \, c) _5 }/ p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,
& H5 [$ X$ p* n1 j  J9 Z* S" o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 _: Z1 ?5 B* ?4 N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
' u4 {& k: C4 s7 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.gif
5 Z0 j& M0 p* w& v; W. g1 K! w唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 H, W% K# @  ~' G$ b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " `" @& Q/ f7 c! e3 B4 f' u
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# M( R1 _" \( @* k9 W! m咁你話d錢蒸發左去邊? ...

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正係咁樣/ J# s% |# b9 X5 B6 [
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/ U$ T4 m4 D, P) o2 y& v" `
分分鐘佢地唔使還錢1 d8 m3 J7 ~: @' Z) _) ^2 y7 Y

% j$ J! G6 P8 V' _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,
& ~; s* D* W9 U+ k' e4 c; n連國家都係問人借, 不停發債券, 印鈔票. _+ x; @- T6 n6 X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 z0 P) N6 F# M( `6 Y2 |0 ~. V7 h' G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
2 X0 o5 L' I( C咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! T. r! ~7 o  m4 e
因為以前未生產, 先消費
* P) h- a5 R$ j6 Z8 s" L4 ^2 z而家就要多生產, 少消費