0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% ]8 ]  d& [& F! K" O" {Why bank will sell 借據給第三者???
) ^6 u- z0 Y* ~/ b( J2 q- k7 x6 vI was so confused.....

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講到尾都係賺錢
4 i( u$ I; I$ M4 o( P, q+ rso銀行可以不斷放款9 e5 ~0 _* ]4 N; l& e$ ^9 P7 f
美國的房貸問題散佈到全世界
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" ]2 R0 a. E  W3 Q9 N8 h, z& ]mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
' N7 j" c2 o2 h. T8 H>arranger
- L7 u) T% ^& y>CDO(Collateralized Debt Obligation)" L8 E; `; ?2 u4 r: Y
最後去到投資者

Kev

i thought it is the reason of rate of return.7 H0 O9 [2 G" d, e/ a8 o# d( C
CDs could have different ratings, AAA -> F,: o& t' _. R! e# E
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 a+ ]( h# D+ Fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 C5 l& H' ?- x5 f' n0 Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 L, E& ^% e  |- ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% d4 ?5 |: d4 h( s
similar to bonds, CDs trading in the secondary market have different value at different times,6 d+ `1 W+ q4 Z8 I9 y
normally the value is calculated by adding it's principle and interest.
4 B: P4 {3 d& U9 X2 \1 n  Ueg. the value of the mortgage+the interests to be recieved in the future.
  s6 ?3 R% `9 P* ibanks 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.3 C. U- L7 s( q) g; u: R1 ]& @
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im not quite sure if the multiplier effect does really matter in this case.
' k1 n  t2 a3 X. rin stock market, it's the demand and supply pushing the price up/downwards.
6 E9 k4 g% u6 \% N# L. s% }* KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  c$ K/ }* {& t2 H2 V- W, \; o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) s0 p, U5 `/ T  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. 8 ]% @: ^! U  G7 `+ c5 Z5 F
but the value of their assets did really drop significantly.
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/ S  [& l% W. }[ 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
1 E0 K( v  @0 T* w0 CRefer to last example,
% M9 R" |5 k* T3 u# Gthat means bank A have no money because we borrow 10 dollars from bank A : h" D6 f/ k* s: f( A2 f4 P
Because bank A doesnt have enough cash on hand
7 y9 Y' I1 w1 ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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- G5 d' U8 ^: V+ eA->B->C->D->E
* A4 G4 j7 D" t0 Yso does it mean if E failed to pay D, - B# n" L* H6 E) N2 |% ]7 h
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
: m3 w8 b2 H  K' w) fin this case it doesnt really matter how much money is created,
1 ^" r7 S# u$ J/ }. V+ _it's the problem of the debt itself.4 s3 W$ i- e# Q5 x
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
5 N: N2 D& x; h小弟一直都唔明...
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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...# s+ x4 h3 b# X; y
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敬請各師兄解答6 Q1 L2 X1 ?# f4 |% c( A! t0 f6 k
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Thanks

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那些根本係 紙上財富  & G4 ^/ D3 X. y4 N  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
! F+ W# t* R  U' a, H: Y- ?( }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% `: y$ I: G! [& X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
8 ]* Y: {# [1 A" R' C  U個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, _" S& D, T4 |( Y+ Y# k& I+ Y1 Q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; w: _* d! ]- P) r4 {0 ~& f$ `8 \計番回報率就已經係50%,所以可以好好賺, y( l/ a/ S) i8 j5 ?- _
前提係銀行之間要互相信任先可以咁樣借法
: t/ U. r& U  Y同埋個市場既前境要係好先得& q& J+ r* h- y" Q! `" g
但當經濟一差,公司估值趺了,物價不升反趺% g/ i+ U+ E# X
例如剛才說10蚊的, 趺到得番9蚊, 7 o4 N2 W/ G- g3 U* ^" ~8 v6 L
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( k- ~+ }; g* i" z所以你就會覺得D錢好似蒸發哂咁+ Y- {4 n1 H) f* ?7 `5 u3 V# r3 t5 V

( M0 o1 R0 L) p5 @你都可以當標野咁諗, 個樣野多人可以狂升值,
/ p: f# O' ^+ D' N; K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,
5 w1 [( X6 q/ v. h$ r- o, |5 X! l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 o( D, X* s0 d3 z1 S) H1 `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6 u* p8 Q3 q$ C* N9 y; `5 Z, |
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# O1 a- F# u  i+ Z; X
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + \3 Q- N: m6 p! Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 y% x2 G: K0 ~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
% e+ y4 _  M1 A1 q" r% g咁你話d錢蒸發左去邊? ...

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7 g. R! ?2 V% q1 {1 {正係咁樣
! y: B, I2 V' S  c/ b2 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
9 }. e. d$ I6 K% ^( C8 s分分鐘佢地唔使還錢, g7 l) H. x9 j7 r8 C2 r9 O

) H$ s1 d% |. O8 A, h8 [/ u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,' j$ D5 b: Z* Q& t: B/ X% x
連國家都係問人借, 不停發債券, 印鈔票
% h" [1 C" y3 S1 @5 P9 o) L一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; j+ t2 L" D7 @  c, q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
# L0 ^' a9 J! H2 J咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
' O9 ^2 e! P! T: \5 J' m$ P/ @因為以前未生產, 先消費9 ]6 L9 }: p! Q" E* ^
而家就要多生產, 少消費