0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' |+ X+ n$ Y: y  S! mWhy bank will sell 借據給第三者???
1 ]. r2 V4 Q' j+ r1 `I was so confused.....

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4 y/ {- h" o; A, o) w* Z3 E講到尾都係賺錢! e# i, [, K7 _# f) u6 w! g
so銀行可以不斷放款- I) b0 W0 B$ m" r$ t2 x4 k
美國的房貸問題散佈到全世界0 M4 b) S% U% A0 O& \# O
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mortgage loan
6 k' W2 o  q- O7 z% }>conduit
, x4 s! k& a. A3 f' |>RMBS(Residential Mortgage Backed Securities)1 W$ H6 _* I* |7 ~2 c+ V
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>CDO(Collateralized Debt Obligation)
# k/ {/ w/ `" b% M( I最後去到投資者

Kev

i thought it is the reason of rate of return.
, W3 e9 m% b( q# Z" I! m! L! [CDs could have different ratings, AAA -> F,
2 W  i4 o% {4 Q! Lmore risky ones would have higher premium (interest rate) as a compensation for an investment.
' p' d  t9 m* @, L5 F+ h6 Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, O% t& ?6 I; zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 w7 T" @7 }4 a! o# B3 fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 p# i3 G& L# P- i+ w
similar to bonds, CDs trading in the secondary market have different value at different times,
3 G6 z6 w3 _6 l- N( O: ]# y, Unormally the value is calculated by adding it's principle and interest.
5 o4 G: X8 Z4 r- J- {eg. the value of the mortgage+the interests to be recieved in the future. ( l9 A" t) h! A8 O
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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4 w- H  y+ O5 q! vim not quite sure if the multiplier effect does really matter in this case.* D* h  p5 \9 l! f  f
in stock market, it's the demand and supply pushing the price up/downwards.6 R9 l9 u' o. [: n4 o7 R2 {3 v* m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 K# x- i6 y! L/ H: H8 L& P
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 w2 D  T( V, v, ]
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.
  Q6 o1 Z* b. Abut 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/ m2 b9 ]. j( t' ?5 D4 B+ D
Refer to last example,) y$ T# F0 d" L0 W2 g( [$ H
that means bank A have no money because we borrow 10 dollars from bank A
- y6 J. Z: Q2 F4 f& @' e( T5 WBecause bank A doesnt have enough cash on hand # ~! N# H) c" L  ~% h
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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! C% r% |# z9 I& eA->B->C->D->E& p" G" c/ D9 u6 s8 Z* m( L0 q
so does it mean if E failed to pay D,
5 T  T! r+ U4 o7 w, e$ nall 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, " u, t: m- q0 U% H2 c0 j
in this case it doesnt really matter how much money is created,
3 @6 [3 ~9 b' C9 H3 C6 Oit's the problem of the debt itself.
) h$ o& e1 W; M: J* Zthe 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
/ U/ Y, S7 v! Z小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?; a; l* b, W$ [1 w7 N' P
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無可能淨係有人蝕錢無人賺架嘛...; D( A: _& W5 t, h# X8 @' d( S
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敬請各師兄解答
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Thanks

% m) U" K3 B' k' S  f% |1 Y那些根本係 紙上財富  8 b& f" ?* y) K* _9 Y
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
5 e5 `) u' t- o* l當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# c" V3 k9 H% E; D1 e& b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
3 ^6 K* y1 Q$ x% j0 r! }$ |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- G& y) q% b$ P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," P4 g6 L) J. ?5 w9 B& Y
計番回報率就已經係50%,所以可以好好賺$ D% Q# M( _; g( O' `
前提係銀行之間要互相信任先可以咁樣借法& u+ S& J- u% [4 ~
同埋個市場既前境要係好先得
7 Q5 o- G0 P0 |; K( u0 ?但當經濟一差,公司估值趺了,物價不升反趺
$ y/ E% Z  X; V" B. h; E. L8 r* ~例如剛才說10蚊的, 趺到得番9蚊,
3 X' w9 G5 D- ]$ B4 ~/ ?: M1 \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 h  J  u- x0 j% O( Y
所以你就會覺得D錢好似蒸發哂咁
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) P4 v( f1 y# F; t" D) H2 ^你都可以當標野咁諗, 個樣野多人可以狂升值,
; e! N. j5 p% R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,   R3 `% J4 L  x7 z: }: ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 H& w7 _( f3 Q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
" M% V/ x/ d' L* ?0 W' G. O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.gif7 L. i6 v# Q% i$ }2 R
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 V% h& w7 G8 a8 W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! y+ w* R# ^$ t# C6 s; q. y
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 M! ^( V; q% h
咁你話d錢蒸發左去邊? ...

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正係咁樣4 ~; w( d, t, U2 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
4 O, r. h  t1 S* N. ~  z6 A/ h( s! z分分鐘佢地唔使還錢
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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,
: c1 O9 |6 \7 ?) t連國家都係問人借, 不停發債券, 印鈔票) Q3 n7 C; ]7 Q* B4 B
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ U' h. R$ U7 k! y4 E+ p$ 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
2 e( g! J( `2 K& C8 v) U0 E6 m" D咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..." A4 b$ s# w% o. y* n& \/ L3 D
因為以前未生產, 先消費8 }$ k+ f3 b8 k) t
而家就要多生產, 少消費