0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  @) {& [% |, _0 {Why bank will sell 借據給第三者???
  l4 j( ~0 y! X$ \! a! }I was so confused.....

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講到尾都係賺錢" d( }) F' P- ]" f' X$ }
so銀行可以不斷放款
- P6 \% @: \9 e( V5 W  q美國的房貸問題散佈到全世界/ c, \8 o. T; w

; [# k- T( W6 F( b9 zmortgage loan 6 m- C. |( r! Q( a+ y3 j
>conduit
& ]) Y- J* u: w" i2 T5 P! Q>RMBS(Residential Mortgage Backed Securities)
& W: t. s& \) {0 O. c>arranger
! m) ^$ i1 F1 b/ m+ c: p>CDO(Collateralized Debt Obligation)
7 U! M8 Z  a1 d3 L' }最後去到投資者

Kev

i thought it is the reason of rate of return.; ?4 H7 o) B( n! \
CDs could have different ratings, AAA -> F,
$ Z( B3 H7 L4 d9 Q3 mmore risky ones would have higher premium (interest rate) as a compensation for an investment.; @( g! |6 e; j. f2 N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 e3 N- Y% G0 R
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( S1 j& V* T; I. r( L6 y. E6 B; ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 N, R, ]. c- I+ f/ E
similar to bonds, CDs trading in the secondary market have different value at different times,
! W0 E' u! S# d0 Jnormally the value is calculated by adding it's principle and interest.
( r5 x6 A. S( b/ ~7 G+ J* geg. the value of the mortgage+the interests to be recieved in the future. " t0 E* m" _, F* y  @9 ?
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.0 r, I( \5 L1 Z/ ?
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im not quite sure if the multiplier effect does really matter in this case.' j5 d( A( F! r' ~
in stock market, it's the demand and supply pushing the price up/downwards.- a4 L! [. H% T: i  m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- q; {3 D$ ]# I: |, K4 Q" D
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 @! F7 N( M6 a7 d$ ]- I( _( }4 M
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. 7 [( z" A. I2 N3 _3 {4 M9 I0 c+ E
but the value of their assets did really drop significantly.( S6 ^3 a9 V% E) B# s
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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! ?0 j# ^, t- e- |
Refer to last example,
1 S6 s+ c/ o. k4 E2 E. kthat means bank A have no money because we borrow 10 dollars from bank A , {) W. l7 E# K. o  }# @1 r
Because bank A doesnt have enough cash on hand 2 T' s1 K$ U+ M5 x! u: Q# W
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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- y6 k2 T1 e$ s2 Y- p9 K* R- UA->B->C->D->E) y: O% }! G- D( c3 @
so does it mean if E failed to pay D, ' R+ |& S" I* f0 u0 r2 A
all the B,C,D,E have to go bankrupt?/ l/ t1 t3 h. r1 @
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% I+ b% x5 f0 w# H0 nthe multiplier just tell how much money created in a whole economy, * C+ @& i* Z, v7 [2 b$ w- L' h2 o
in this case it doesnt really matter how much money is created,
. s, ?2 n5 G8 J" J$ v; rit's the problem of the debt itself.$ K) z! \5 N7 V$ w  C
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 q9 D% h8 ]( p. C3 `6 _小弟一直都唔明...
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9 f5 W: I) G: ~4 n1 h6 p* [- z全世界都蝕錢，咁邊個賺緊錢呢?9 ~$ h3 I* V# Z$ n& T

+ k4 L( _! d/ ]) \! S無可能淨係有人蝕錢無人賺架嘛...: ~7 [8 {8 @" ]9 i. c: I1 c2 {5 S
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敬請各師兄解答
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Thanks

, f$ B6 r  y. _6 E7 P. D. h8 w. r那些根本係 紙上財富  8 r% b* s6 M* z- U! o" F: O8 \
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( p% v/ O2 B4 a# _

- b& E; U& L( R* _/ \7 T5 @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* l3 c& d$ F& ?' V) _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 p2 m# _$ U% r7 ~4 g$ e
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
! d8 S7 Y/ R6 S0 X1 K, r' \個件物價係市場好既時候升, 例如15%先算,變左12蚊啦8 s2 p6 M! A( S/ C& n  ^4 W) {
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 Z5 p: L. I9 w2 V計番回報率就已經係50%,所以可以好好賺
  l! B7 _) f& q前提係銀行之間要互相信任先可以咁樣借法4 V$ {6 p/ l6 ]* P" O
同埋個市場既前境要係好先得; ?4 v) F: m5 Z
但當經濟一差,公司估值趺了,物價不升反趺# b) \% K( q0 _. c$ L
例如剛才說10蚊的, 趺到得番9蚊,
4 s9 h* T' }! U- t0 B% u' \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 i6 V9 i: T$ k1 Q
所以你就會覺得D錢好似蒸發哂咁" [# w" f) m) p. V  H5 r! a: p
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你都可以當標野咁諗, 個樣野多人可以狂升值, 2 Z7 e! k$ e$ h. U6 `4 h1 E' 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, # y1 Y1 R  G4 J' Z2 `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . g1 ?1 f3 }5 n, e6 ?) H3 b
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! \8 u6 K4 J5 P& \9 ^5 O# ~7 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.gif3 {$ a) {) P$ Q0 M! A2 B7 {( b4 i
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' `7 F; z+ m6 [. U% i! Z5 X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ _/ p$ k5 ]2 W. O; X: 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
$ i/ E% G; E! c4 C% r( J咁你話d錢蒸發左去邊? ...

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正係咁樣: D+ P* f) w9 N' [
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0 T1 c; a& I" N, B
分分鐘佢地唔使還錢! U- e; Y* _% ^0 M9 D
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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,& \+ K8 Y# \% H, [: Q+ ?0 [' w2 ^7 c
連國家都係問人借, 不停發債券, 印鈔票
6 n5 o0 l$ \; U, e1 B一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 k8 D* h  @) j) `5 u1 [! \
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, V9 B3 C8 A* y$ K" s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
) ^1 x6 O% h7 W, @) a因為以前未生產, 先消費
, [$ o; B4 j. q" m而家就要多生產, 少消費