0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: j- d+ ]9 N5 Z9 H, C/ Z: l
Why bank will sell 借據給第三者???
! X# c& M6 v, Y; W* V3 aI was so confused.....

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# j8 N1 q, e' p: A0 a" `講到尾都係賺錢( X; j0 Q# x9 J$ a' `
so銀行可以不斷放款& `( o: N9 u+ H
美國的房貸問題散佈到全世界
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mortgage loan * z2 I$ r# J2 ^/ [: H- e& ?* N
>conduit9 M2 U7 u# Y+ Z- i. R- B
>RMBS(Residential Mortgage Backed Securities)$ R7 u. T. A$ M6 w) C0 ?5 l" A1 p  {
>arranger
; U" J5 {, P+ Y2 M+ Z4 _, D>CDO(Collateralized Debt Obligation)' A5 `+ ^3 i' Y6 P/ t
最後去到投資者

Kev

i thought it is the reason of rate of return.
! M( K0 p- z9 pCDs could have different ratings, AAA -> F," C& w8 N3 Q- W0 X7 E5 n
more risky ones would have higher premium (interest rate) as a compensation for an investment./ h+ i1 f3 R/ G- X3 x. {0 ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! J0 c* L' P/ k! q# m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 o) }6 e' k' ]/ PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) h0 K' b' o* k% q2 E# t( [' S
similar to bonds, CDs trading in the secondary market have different value at different times,  A5 y0 B0 G6 y, N* X
normally the value is calculated by adding it's principle and interest.
; m* U% k7 m' F1 }/ _! n6 z& Meg. the value of the mortgage+the interests to be recieved in the future.
4 r1 l9 P& Y& }2 n4 X: ?( pbanks 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.& [6 I! G  Z1 p. F% N6 }' S) H9 P9 ^
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im not quite sure if the multiplier effect does really matter in this case.
" v+ G+ ~. l* C/ S% Bin stock market, it's the demand and supply pushing the price up/downwards.
9 D, B+ Q# ^9 }+ `7 |' C1 T' {% zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, {' s" J# z/ W% y' u. B* dA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ W0 ^6 b1 ^# i
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. 2 I" \3 c" j! R; [# d
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
+ r# i+ K) g! T5 e  q2 B# nRefer to last example," k; z* i) X9 C  W! w3 X3 ]
that means bank A have no money because we borrow 10 dollars from bank A 5 q) i3 _- ^# U9 ~
Because bank A doesnt have enough cash on hand % M) z( ]9 }0 ~
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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; Q0 i- G0 l  b: j* p, `5 K' R& ~A->B->C->D->E+ I7 F6 G% D6 l* S
so does it mean if E failed to pay D, % A3 D) i$ v# \0 p& n1 R* m
all the B,C,D,E have to go bankrupt?+ L6 a7 k% H7 n& O3 [# q

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/ P* D/ F" t6 g8 ~the multiplier just tell how much money created in a whole economy,
* v6 I0 O+ X' D( X1 m' S& min this case it doesnt really matter how much money is created, ) a0 ?4 |2 `! f5 n8 |& P3 ^
it's the problem of the debt itself.
. ~5 k8 X/ M+ O! s* J, F6 |2 ythe 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: o; ~, k* ~5 l/ I
小弟一直都唔明...: k& q- k  c0 k/ `6 U6 p) O
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全世界都蝕錢，咁邊個賺緊錢呢?6 o! y0 @& S( D3 d7 W3 b  h7 W+ @
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無可能淨係有人蝕錢無人賺架嘛.../ r* k! b% z! P* Y

1 X6 N/ k  E: A1 P/ H6 Q. x3 M- m8 k  X敬請各師兄解答
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. c7 h2 Y( @% rThanks

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那些根本係 紙上財富  
( C& @1 Y1 F! h0 u- G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# \: Y5 H* o6 j/ F4 W

* G2 K8 n# `- N1 i# J# S. yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' m& u) w2 o# _) ~% @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! i1 L, Q1 o: K3 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
7 M! `9 a) M; c9 |. t" ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ O' @$ }4 n" W% O. W扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. @- C: f* A. o7 ~) g/ N8 `
計番回報率就已經係50%,所以可以好好賺
1 i3 i8 s$ w, l3 a& f% j, j前提係銀行之間要互相信任先可以咁樣借法
' a1 P2 ?& G7 v8 `8 Z. f. R同埋個市場既前境要係好先得( A2 v" b- N7 @9 L
但當經濟一差,公司估值趺了,物價不升反趺
; H0 Z- F7 t9 z例如剛才說10蚊的, 趺到得番9蚊,
" \$ T" r* V, W  ^' h咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, L6 O( D" v6 H/ j所以你就會覺得D錢好似蒸發哂咁) w8 |: J+ b' {, c. o- p& K

8 u3 K% N: P: h- v# C你都可以當標野咁諗, 個樣野多人可以狂升值,
& X" N! r% L0 i3 |! P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,
0 Y6 L8 t0 ~: G5 Z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  l1 D1 G6 v+ P  K6 p1 c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
: {, w0 `2 k; o8 [6 a6 R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 _: v. ?" f- d5 I
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - K9 W! J  k& h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 O8 f4 M' F4 s, J" a& 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
8 \$ n3 s' Z) c/ g9 u1 a( a+ g咁你話d錢蒸發左去邊? ...

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0 N8 y  G9 }$ R0 a  y9 B: A! W正係咁樣
+ w5 D' H: }5 i" Y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( Z' ^' M* `( g  T
分分鐘佢地唔使還錢
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$ n( h8 k* \0 C/ U$ V/ f* Y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,4 H' \% R1 d$ H  S9 w
連國家都係問人借, 不停發債券, 印鈔票
7 [1 R  P. }, v9 ?) a& U7 v  T一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% l3 p* @$ y; P9 v- x' a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.gif3 w5 k8 U4 q( p9 V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% M. H, W3 Q$ _: K其實係..., S/ W/ [1 L  n( B
因為以前未生產, 先消費
! N. `; I/ c3 T+ k/ h& I" D而家就要多生產, 少消費