0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 |) t0 I- |. [8 R9 ]9 S5 k4 }Why bank will sell 借據給第三者???0 C* ]4 f: o5 Q8 V. ?  @# \
I was so confused.....

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6 B* l/ F5 ~. d& Q( {8 c) u講到尾都係賺錢
! ]; a/ W! Z& ^6 Z! S# i2 B% x$ v. ~: oso銀行可以不斷放款2 X/ }% r9 E) C: d
美國的房貸問題散佈到全世界
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mortgage loan 4 e4 l% a+ F- @2 K6 o9 `
>conduit8 \2 J" x3 ?5 u; A
>RMBS(Residential Mortgage Backed Securities)5 ]: w  {( @' H0 c
>arranger, W2 w3 l/ ]3 K1 L
>CDO(Collateralized Debt Obligation)
2 Q# c1 U. P6 p" }7 h# v最後去到投資者

Kev

i thought it is the reason of rate of return.7 [, c% A9 n2 e4 H
CDs could have different ratings, AAA -> F,
/ v: X+ i6 F* s4 wmore risky ones would have higher premium (interest rate) as a compensation for an investment.7 S7 n- S* y2 |0 S) t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- S% J$ S' I5 S, L& }6 {6 I
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 i3 O2 B$ i* N# f) rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( {0 G7 p* V$ Z5 u2 b2 gsimilar to bonds, CDs trading in the secondary market have different value at different times,9 Q# H  X+ T! M9 a5 |8 O2 T" [% b
normally the value is calculated by adding it's principle and interest.
& G3 M, ]% f9 F6 Aeg. the value of the mortgage+the interests to be recieved in the future. 6 L7 f+ R7 e+ G3 X
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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im not quite sure if the multiplier effect does really matter in this case.2 f( S! K! j4 G
in stock market, it's the demand and supply pushing the price up/downwards.
4 d" D2 J4 W. C% a/ {7 ?For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( X6 m# Y: T* ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. y$ N9 Y% o% R% F) S
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.
+ y) u: a7 s6 e& ubut the value of their assets did really drop significantly.
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# G6 a4 B' x% W" ]8 Z+ s) b[ 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& A7 |3 J& s) u9 B/ {" d3 s2 N
Refer to last example,
+ r* ^; Z  k7 T8 Cthat means bank A have no money because we borrow 10 dollars from bank A ) t: |* Z2 [2 T' h
Because bank A doesnt have enough cash on hand 9 c5 O# k. N& P
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: w* G+ S* l, Q" |3 c8 x' P1 |so does it mean if E failed to pay D,
% O2 G: w% B- y, R; ]( N3 Dall the B,C,D,E have to go bankrupt?
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- G% x( h0 G1 l- Athe multiplier just tell how much money created in a whole economy,
! C( _  W1 h6 `) ^8 {* S. |in this case it doesnt really matter how much money is created,
6 t# B: c7 m) Bit's the problem of the debt itself.
& e% w  M7 f  Mthe 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
0 E3 h6 ]5 P3 z5 y- q小弟一直都唔明...* ^* \, M2 X$ C8 b

3 O' Y. a4 p7 ^- G1 m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...) Z4 l* [0 ]) e5 r5 v7 V2 l

5 P- p1 d7 Q. [4 G0 c. e敬請各師兄解答
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Thanks

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那些根本係 紙上財富  , [* w( Q: S. g" H7 [/ s+ q
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0 \% r9 x, R6 Q5 X2 v# M6 v6 A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* K# N% E& K6 g+ L
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
+ T* S2 ]( b! I0 n' y# c# J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 k* u( _5 T; |6 e' J6 N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 R: r. M) [" }, S# b% L計番回報率就已經係50%,所以可以好好賺
" f' f6 e2 N% w/ a" g3 j; q" `+ S前提係銀行之間要互相信任先可以咁樣借法/ n) K; R! n2 z6 P" s  r6 v4 l
同埋個市場既前境要係好先得: m) ]( N' h, R+ I( J
但當經濟一差,公司估值趺了,物價不升反趺! W. f4 S2 R) x
例如剛才說10蚊的, 趺到得番9蚊, - p) Q* a/ r* J% s
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 t1 R4 \, ]) k  ^. [- D3 J, ~1 x
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
5 r9 G( N' Q+ o9 n7 `; H7 i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, ' L: }) V7 o. P! I# o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 g4 y6 {" a) y" Q# B) T. F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
% r. z9 ?; ^5 t0 S* @  }/ b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# \* `# A5 C* {9 o8 v' r
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " P1 w$ E5 z2 x8 \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- y7 E! d: p2 X3 z# I) @$ ^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# o+ A% i* Z3 {, q+ i: I
咁你話d錢蒸發左去邊? ...

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正係咁樣
( L/ K3 c7 L0 [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 ]- `! O9 Y' D/ o- l) N
分分鐘佢地唔使還錢
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" l& `4 u+ y, Z  m1 O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,
, t- x" a5 t: t$ W5 k; R: o8 K9 U7 v連國家都係問人借, 不停發債券, 印鈔票& F. _. e2 o: z$ a% s
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, l7 l5 q; X/ ~6 i9 X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( P: J: u7 Y8 u" O+ w- `' c
咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 ~% r- v6 H- q' k其實係...
2 J+ E' L, F" d- B  p因為以前未生產, 先消費
) K8 V6 ]# I' i$ G! C而家就要多生產, 少消費