0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ [5 S% A  r. p9 G5 gWhy bank will sell 借據給第三者???" r4 T$ M3 V) _6 Q
I was so confused.....

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講到尾都係賺錢: a/ d, c6 _& d* `/ O
so銀行可以不斷放款
4 p8 c+ h8 l2 v  A美國的房貸問題散佈到全世界
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mortgage loan
9 m' V9 K# _* w: \' Y% m7 r>conduit
% P, }  q; W" _7 N>RMBS(Residential Mortgage Backed Securities): ?( [& `4 q0 f# x
>arranger
% {, T! G) l) j+ j3 m8 t>CDO(Collateralized Debt Obligation). @7 x; D( }) j3 P0 x  }4 S( g. p! `
最後去到投資者

Kev

i thought it is the reason of rate of return.3 [* R7 |  n2 P" e7 d
CDs could have different ratings, AAA -> F,
- M; B! b  F% qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ ^8 F: ]; t8 H5 e/ T  vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 g2 b' _- A* ]7 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. A3 U1 p' b% d; z( v$ |% z$ j" g
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 z* M0 Z4 E: C. n# i: f
similar to bonds, CDs trading in the secondary market have different value at different times,
/ \" C2 U8 e, b: w* d/ [% R+ Bnormally the value is calculated by adding it's principle and interest.
/ [! M5 v5 y" @3 t& Ueg. the value of the mortgage+the interests to be recieved in the future. % P% u" ~/ r2 o* J5 r' L) I
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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( v0 H  c& ]2 G% {. j/ y, t0 nim not quite sure if the multiplier effect does really matter in this case.7 T3 H1 Q! b& K9 u* a
in stock market, it's the demand and supply pushing the price up/downwards.7 F. Y9 N; ^: T9 `8 ~+ t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% q& x/ ?9 _3 c2 D0 H! h- y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; ?( o  S" f8 f+ F/ ]: F6 jThe 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.
" }: z  S! O# _. [6 N: K" ybut 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+ \! y; ~! }& L# G4 A
Refer to last example,
3 A8 A' d' m. g' r4 X) n% k# p' ~0 Xthat means bank A have no money because we borrow 10 dollars from bank A
$ ]" v+ v% F+ N' ^Because bank A doesnt have enough cash on hand & W. T2 O/ d- q5 P6 |3 _! x# s. W" F
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ V: U4 l( d) Y$ Y( ]) J; V) Xso does it mean if E failed to pay D,
: x! G+ i7 _2 Z' E/ l" Vall 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,
2 x2 j! b* s$ {# ~$ m6 ~  ein this case it doesnt really matter how much money is created, $ w/ q2 D- G) a* d. A6 X
it's the problem of the debt itself.3 z) c0 t$ M* K3 s- ~
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) i. Y/ }4 ]9 D4 C* 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?
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* i5 t7 s/ s6 \% m1 h7 b0 A+ q無可能淨係有人蝕錢無人賺架嘛...& K# A; r7 a6 ~4 \
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敬請各師兄解答
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1 n% H/ `  R9 B4 p6 X' q  @Thanks

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那些根本係 紙上財富  / W% q1 z/ ]" i- a$ R9 I  t* K
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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) U/ s8 u8 c; G* d. mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 l* a' f  u+ |' P; N4 I. X當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* y; Y4 `/ r( y6 m4 o% ^
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8 Y% Z* {2 J- C  B% s
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 E- d4 h2 }* q/ O' d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 E+ I4 r' c! P
計番回報率就已經係50%,所以可以好好賺+ p$ [5 ^+ r2 P3 q% B) `
前提係銀行之間要互相信任先可以咁樣借法
9 `% b+ w, h: I& F% C同埋個市場既前境要係好先得
9 T6 S3 e( ^8 }' }4 n2 L但當經濟一差,公司估值趺了,物價不升反趺
! w/ n- v2 K2 X: t3 _- Z; c例如剛才說10蚊的, 趺到得番9蚊, ! a7 ]" g0 E1 F: [6 U
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 Q0 p) v3 O3 a9 m( \; b5 V
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 q1 `# A8 o& E. P* s: Z. m% z% |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, ( Z+ \; E9 C; h1 w- x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 E* [! Q- `' H! G8 L+ _/ \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  c9 Q8 `! n! A# v+ }% y" 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.gif
. I( J  U4 c7 l( y) K9 L唔係d錢蒸發, 而係比美國佬洗晒未來錢, . S9 Z  k$ [5 ~! I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  s/ a' J4 u  e5 G, W$ V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- g' n/ g! `( ~# A
咁你話d錢蒸發左去邊? ...

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正係咁樣, M; o0 e1 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
/ h3 c: V/ E! k: A- b+ x) n: Q! ~分分鐘佢地唔使還錢; s# i& m1 n/ W7 V; e7 Y
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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,! l2 i) B1 j6 z/ f( T( T% K
連國家都係問人借, 不停發債券, 印鈔票# H; Y- r- @4 L# ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' W! K$ v3 g9 d6 w) E7 z
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
" }( D' d) n" ^2 d咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...6 X/ G; c* a7 O; t; `8 y
因為以前未生產, 先消費: G: I8 C" f) A8 a
而家就要多生產, 少消費