0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 S) g; e5 t1 oWhy bank will sell 借據給第三者???
: C0 n% C3 x( F+ a; O3 O% fI was so confused.....

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講到尾都係賺錢+ T- Y3 R0 m0 d& c; i. I: j
so銀行可以不斷放款& ^- N" Y$ s  B
美國的房貸問題散佈到全世界, g- n, ?' G" H; @4 k2 m
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mortgage loan ( Z: s& ~" e& Q  O( b/ X6 n
>conduit
7 o6 ]+ k/ z: H! ]+ ?' A; F$ i>RMBS(Residential Mortgage Backed Securities)
3 `2 r, ~& c( t6 r+ H* @2 ?>arranger
) r( \0 \0 X$ h( ~1 Y, g! ]% Y. W>CDO(Collateralized Debt Obligation)7 Z& s$ l3 B" s3 U' H
最後去到投資者

Kev

i thought it is the reason of rate of return.
. A( X+ T1 r2 ]8 yCDs could have different ratings, AAA -> F,2 P1 Y: _1 o' |! m3 e
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 P8 Y4 _9 `# b4 _; @" F$ s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. _; `, S1 W1 R* V9 U4 lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ I# w% {* V! F6 x( @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  S2 D: v- `6 _+ `3 Msimilar to bonds, CDs trading in the secondary market have different value at different times,
7 B# ?+ N: ^- u! D  Lnormally the value is calculated by adding it's principle and interest.
$ Z! i- }+ A- G, Eeg. the value of the mortgage+the interests to be recieved in the future. : T" s5 I' m: i4 l5 d
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.8 Z  V; ^7 O6 t8 X- [  U

& S- Q( [  E  q$ p( Rim not quite sure if the multiplier effect does really matter in this case./ D! j" J+ c& W
in stock market, it's the demand and supply pushing the price up/downwards.1 G! X  y6 |( o: M* l  G$ Z* P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 y) `8 u! q9 O# @
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 \0 m' e- [- h' ~+ C+ I3 Q
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. 5 U3 q! Z* \# L$ S5 w0 U% E
but the value of their assets did really drop significantly.& J$ v' v9 }: P" K! f

8 V  k5 C4 e" ?2 X9 y0 f[ 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
+ @$ E+ i7 s0 U' L1 kRefer to last example,
3 Y6 M' E+ j: ], D: }/ athat means bank A have no money because we borrow 10 dollars from bank A $ r6 N0 f! \1 ~: b- N
Because bank A doesnt have enough cash on hand
* u9 @, d2 a3 Y- r4 W  stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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- }( f( ]1 ?8 p% d$ Z" @A->B->C->D->E
7 B9 k" m# G: l) j5 qso does it mean if E failed to pay D, $ F6 k* L! }0 I/ H7 n  x" E: d! P
all the B,C,D,E have to go bankrupt?
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- _$ a" {; t0 W/ r! x- gthe multiplier just tell how much money created in a whole economy,
" w7 `% P9 _) [+ l6 [9 q% vin this case it doesnt really matter how much money is created, / ^! g' d- i( [5 K% \
it's the problem of the debt itself.
# @# J6 H2 I: c+ v" b1 hthe 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 f& r3 M3 A( s小弟一直都唔明...! B; Z5 z1 g! c2 V" F
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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...
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敬請各師兄解答
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Thanks

  @* B+ {3 G  ?+ ?那些根本係 紙上財富  
% |  h2 u5 W( c1 R/ Q% J# \7 y! 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; f) M5 e/ }6 Z( O' @5 I
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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0 m7 F2 t$ j: M  ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 a+ c" @$ Q+ O, U6 N
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
' F9 Z2 Q4 A* E7 c個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 c% }1 K% E8 P" {6 h! u1 j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 {5 D3 X1 C6 ^
計番回報率就已經係50%,所以可以好好賺+ }3 F* o: o; u& J. V% Q% K0 B9 z1 {
前提係銀行之間要互相信任先可以咁樣借法. T% z! E* x' f, N5 h2 X
同埋個市場既前境要係好先得
; b0 i% ~5 y, W" K但當經濟一差,公司估值趺了,物價不升反趺% E" E3 M: [4 Q4 Q0 k) W  ^4 i
例如剛才說10蚊的, 趺到得番9蚊, ) F$ P. b6 u5 v* x: v
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 f) {. p$ p  H, R/ g+ T& F所以你就會覺得D錢好似蒸發哂咁$ J3 r8 _) h6 z" t
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你都可以當標野咁諗, 個樣野多人可以狂升值,
, f/ c0 X+ D' D* j+ v* w/ w" 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, 2 o- h9 c- v5 P, X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * D0 D7 B/ M( n$ S6 n- F& D
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  Z' ^8 ~9 Q( e% E# `7 i. 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.gif
6 O8 F7 g) s: |5 s0 j  l) u唔係d錢蒸發, 而係比美國佬洗晒未來錢, * D4 _% R& ~+ O7 p& O0 r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 M7 Z- c- p3 @7 c9 o
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1 ^5 @" q; w- N! n3 Y) g* U2 u
咁你話d錢蒸發左去邊? ...

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正係咁樣
9 r& l! e  S; D& e+ v& C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
3 B! j+ `1 ~- h3 v6 ^' i4 p% R分分鐘佢地唔使還錢( I3 F) ^% r5 I8 x: M
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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,
: z1 v1 I+ v; }/ C1 }4 [1 W連國家都係問人借, 不停發債券, 印鈔票
/ o$ Q. K) W# \9 Z* n一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 u& q% C4 Y7 I$ O7 W! f
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.gif0 o. Q3 [! i9 I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
% D/ [, R' a$ Q2 ?* E  b. Z因為以前未生產, 先消費
) M* u0 m/ u( Z3 ]1 p, T0 G而家就要多生產, 少消費