0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( r& F6 t( V! p5 z1 X: TWhy bank will sell 借據給第三者???
% m2 r% x, c" r' RI was so confused.....

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2 v( @. W2 L0 l' O講到尾都係賺錢) ?3 ?) B4 k: d7 T- N( E  d% o
so銀行可以不斷放款3 Z- i5 w; @# |! c6 O# k0 S
美國的房貸問題散佈到全世界" `) S9 V+ W! s7 o2 \' l& s& V
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mortgage loan + C$ _' e# q1 S/ d
>conduit3 A- e' Y8 N8 b: \) `' [
>RMBS(Residential Mortgage Backed Securities)0 g7 v+ o, M" Y$ E
>arranger/ J( Y7 {# k% _# R0 _  L: Q8 H
>CDO(Collateralized Debt Obligation)
! `4 ^: _, z: G( Q: y最後去到投資者

Kev

i thought it is the reason of rate of return.
  h; z& B" ?+ }3 K8 F8 |CDs could have different ratings, AAA -> F,
, \+ K' W$ b  Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
4 C: s- b) @8 i, \. B! M0 `8 Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 C* a$ E% `, |4 y9 rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 ]$ u1 S$ a' q/ {$ o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! a  A2 K. y/ v: G7 X
similar to bonds, CDs trading in the secondary market have different value at different times,; e9 e, h/ V# d8 {4 ~
normally the value is calculated by adding it's principle and interest.
. v# X4 _& ~1 X: weg. the value of the mortgage+the interests to be recieved in the future. 5 `# [# O* m& H% e
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.. [4 J( P7 h4 \# h
in stock market, it's the demand and supply pushing the price up/downwards.$ U! Q2 n  U1 j$ E. b+ Z8 F7 C8 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," u8 T  C7 C7 j% i% g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 Q( Y. [9 ^/ V2 f* kThe 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.
! X' K$ x5 q4 D6 r% {2 cbut the value of their assets did really drop significantly.2 m' Y& ?! w, g, S" g9 ^" t4 y) Q

8 L" l( k8 D7 n- i/ x[ 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
% Z+ w% g4 \! k9 y; rRefer to last example,4 b: `- _  q: G
that means bank A have no money because we borrow 10 dollars from bank A
! P: j0 V  @( ]4 M" ]  H9 k# c" rBecause bank A doesnt have enough cash on hand 4 Z4 R& V5 l# y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E6 Y7 l5 ^( k+ H( h" X% E% ]
so does it mean if E failed to pay D,
- ~$ F* \8 V8 g" y( call the B,C,D,E have to go bankrupt?7 z( e# T' j# ^% Q9 s

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the multiplier just tell how much money created in a whole economy, 9 f$ w& W, i) y
in this case it doesnt really matter how much money is created,
. }& N% j4 ~6 ~. W# ~& S+ Q+ B  P1 vit's the problem of the debt itself.: h9 D% N( L8 F0 s% q( [$ |
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
$ ]1 j, K9 ^* M/ u( w小弟一直都唔明...: X1 i& T$ H+ j, k( l
! ]8 ]' V4 }0 k# A9 b3 b
全世界都蝕錢，咁邊個賺緊錢呢?
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& E) B7 F* U) ]3 G無可能淨係有人蝕錢無人賺架嘛...
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( j* c# T7 A  ^# A$ i) o: ]5 p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  
, ^! M6 T6 l& m, w" X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+ m* }  H  n  b7 r" D$ r
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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7 h5 Q" c. p& f/ x
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: S# j/ a. N; o0 Z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9 V; R8 y& a* L8 z5 W
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 g- _5 N3 ^; \- ^5 x! O& s6 @扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, e4 |5 q( W/ l5 @, O& ^, Z
計番回報率就已經係50%,所以可以好好賺
- F: n- M, u! H3 s前提係銀行之間要互相信任先可以咁樣借法
/ j" n' }, L8 R同埋個市場既前境要係好先得
$ o; r' Y7 u" ~/ M- J- W但當經濟一差,公司估值趺了,物價不升反趺' r4 ]/ z1 \1 m9 X. s; Z) M  X' t
例如剛才說10蚊的, 趺到得番9蚊,
0 s% f- ~) s& ^4 I8 ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 a7 }4 \; }+ l% C) a所以你就會覺得D錢好似蒸發哂咁8 O0 r  u7 l8 x* V
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你都可以當標野咁諗, 個樣野多人可以狂升值,
; z3 w! F  T. ]7 T' H1 M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, * x  R, z" {9 J5 v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& J6 J! G: {; ^. p, m5 j7 G* {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
+ W$ e& M0 }- M8 d& N% U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 O/ d0 G- Q/ q1 g) _, j) f; n唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 R: Y- o3 E4 i: c! R% v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 d- t7 d# _4 l3 n9 f0 z9 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
3 H: o  Y! S! A# J& N  z咁你話d錢蒸發左去邊? ...

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  v- F# v& O5 i: k/ {8 \正係咁樣. B3 J* r7 q( n
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3 E+ C; L0 `; d9 P' t6 C
分分鐘佢地唔使還錢8 M7 \3 w/ S8 X3 |0 y

; h( F( d! `1 M9 V% J$ |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,# @3 C$ W! H& E( W  a
連國家都係問人借, 不停發債券, 印鈔票9 u% p: @* ]5 n. F- O. C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; X$ K! r8 y+ h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.gif9 S3 J9 W6 G! A% Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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& z2 L$ ^( z7 N7 z9 N% @其實係...$ w! b6 p/ V, B4 t5 s
因為以前未生產, 先消費) C0 `6 }! G' H# U/ _
而家就要多生產, 少消費