0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 Z9 l, e# \8 T6 W2 tWhy bank will sell 借據給第三者???1 Q, L" Q3 j* r4 s, B; q4 U/ v
I was so confused.....

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7 r& |$ W' U& J講到尾都係賺錢
$ n9 A/ r; I1 y  H2 ?, Gso銀行可以不斷放款
+ W* U1 u% z: u7 s8 z美國的房貸問題散佈到全世界
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mortgage loan
$ Q* @+ S5 X" j6 U) z>conduit5 u# E2 B! w& W. y
>RMBS(Residential Mortgage Backed Securities)
! ?  j3 `# e" h9 I; |; P, m& B>arranger
, v+ F. M2 l( {& D8 G* S- Y2 k5 h>CDO(Collateralized Debt Obligation)
0 p! G; J( `2 ?% c最後去到投資者

Kev

i thought it is the reason of rate of return.
/ b, E* g+ Y! x  dCDs could have different ratings, AAA -> F,
' e) h4 f7 i7 I4 Q( ~8 bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
' t: K5 z7 S- K+ |' [& C7 y( ~main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 f  Q3 f& Y# }6 P6 H3 n, W+ ^
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 Q- i; A; _. t  q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) y9 |' ?, g4 C" b& |
similar to bonds, CDs trading in the secondary market have different value at different times,
3 w; W( X# |$ n$ c9 D+ F9 Z1 A3 fnormally the value is calculated by adding it's principle and interest.
% b* N; i' N5 R. r! U8 \9 Ueg. the value of the mortgage+the interests to be recieved in the future.
+ K: {1 [! n8 r1 z" H+ `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.
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9 V  P  H. g$ _5 ]im not quite sure if the multiplier effect does really matter in this case.
% @4 z. |  X3 {* p6 xin stock market, it's the demand and supply pushing the price up/downwards.
3 L2 y' o! |# t3 }, WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: A) d! T( z- R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( I8 s$ L0 T6 m7 C0 X! a- r/ oThe 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. $ B3 T% b0 |; n. C% _
but 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
2 q: m: v5 H$ [$ C! YRefer to last example,
' c) Z, z/ U- ^3 Z- M! bthat means bank A have no money because we borrow 10 dollars from bank A
' v) Q$ j! F& {. o- l& x3 o. c4 tBecause bank A doesnt have enough cash on hand ; u  U* r# e6 i1 ]3 }6 g% L8 g
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# A. b" V% P9 N$ N8 ?6 U6 u. q: AA->B->C->D->E3 _. Y) ^/ P3 Q7 \: U
so does it mean if E failed to pay D,
# W# q% F& _& ?4 s. }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,
# V+ ]" K& E& F( min this case it doesnt really matter how much money is created, 9 |7 U* C. J" g7 [! O+ ?. w9 L- a
it's the problem of the debt itself.
! K! S7 k$ I0 b. t  w# Q" J' t- pthe 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
- W/ ~; V5 m9 r. F9 C+ X: q小弟一直都唔明...; D' e8 s% e4 z. i6 W9 g  F

8 c0 t# K& @! r6 c+ Q  S& U全世界都蝕錢，咁邊個賺緊錢呢?
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6 @) @) l8 o5 d7 E0 E( Q5 u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9 {& \7 b0 J9 [, H
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Thanks

( r" Z+ X  Q- q+ B那些根本係 紙上財富  
7 i; _1 c3 K7 `+ k8 Z2 s! B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 graphic8 V1 I9 L6 x) F  i* a' z" E, k/ f

% o( O. N8 v$ G/ U+ s5 B7 o0 @4 R. [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/ Z" u- U+ V/ |3 v2 \* [) a
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! v: \! E3 t# _: S+ e, B% G3 r
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
& D4 \$ }9 `) t5 t! g個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% D  k/ W' L7 s0 R! ?扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, a! c4 p+ D8 M" s5 V1 @9 m計番回報率就已經係50%,所以可以好好賺
5 e3 M" R7 S) E. W% ^( F2 d% Y前提係銀行之間要互相信任先可以咁樣借法8 @3 a- T+ `' K- I& U
同埋個市場既前境要係好先得1 Q, i" t9 B* j
但當經濟一差,公司估值趺了,物價不升反趺/ p+ E) A0 w1 S' U! P. S1 g0 m3 s
例如剛才說10蚊的, 趺到得番9蚊, " @1 j% o* P$ d# s
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! q/ n- q: d) a2 Z# R" M7 h
所以你就會覺得D錢好似蒸發哂咁
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- \& \6 g/ o# J  F' _9 y& {你都可以當標野咁諗, 個樣野多人可以狂升值, 1 L- p2 L- f/ l$ @
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, / q0 z; a) ]! R! x* G8 s* K: ^8 [9 P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, o8 B' [+ l* v+ v; `0 L9 G" P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
' ~+ {. n6 I) n" N" U, E6 m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
/ [9 f; F6 t; Z0 r3 K4 T7 `3 d! T唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( k+ T# j, V$ a3 E1 ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 X4 L# U) h4 g( K0 r
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% \0 Z5 n  N! a咁你話d錢蒸發左去邊? ...

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2 w* y% g8 p, p- |  q% ^正係咁樣1 \' M6 V, H+ r1 z1 s; [! j
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
# H: N% O$ ]( t" D+ D- e8 [+ k分分鐘佢地唔使還錢
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9 G! \0 U+ I; y5 l6 k' U# c3 T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,% F3 b" f& a6 L! v% X5 {
連國家都係問人借, 不停發債券, 印鈔票9 k. g; a" y, F9 Z8 V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 X6 y; c& o- z( [! K: Y
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! j: C0 H( S0 z6 U8 M7 s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...5 I2 a  \' a+ `
因為以前未生產, 先消費! }, |( J) J. }- v7 Y0 g" B9 U
而家就要多生產, 少消費