0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 G% a. q- w. q! r3 `, z! tWhy bank will sell 借據給第三者???* J" ~6 e- B9 Q& E6 v' C6 n
I was so confused.....

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講到尾都係賺錢; Z; c  X; i) x5 N5 z% D
so銀行可以不斷放款/ v* B6 u' P: G6 t, g
美國的房貸問題散佈到全世界3 f3 t1 Z' v/ E1 M' B

; L8 ^! T8 U( s4 F# |/ h, hmortgage loan
9 h& C" I3 \. I* @5 F% @' b>conduit
, |2 J1 V4 g# {+ e: n$ j3 M>RMBS(Residential Mortgage Backed Securities)
& E! h$ W6 W  d; D>arranger0 }, X* X) {) r" o4 J& Z
>CDO(Collateralized Debt Obligation)6 P1 F& H# q" T4 r8 r0 f% v
最後去到投資者

Kev

i thought it is the reason of rate of return.
: R, r! @1 R) qCDs could have different ratings, AAA -> F,
& m& m0 i6 O; ?5 Amore risky ones would have higher premium (interest rate) as a compensation for an investment.
% c& M" Z( ]4 s% R! f& Y7 cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 n( Y  {$ E+ J
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 w4 A4 z$ {6 a' q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" b- ^0 z4 b7 y0 k1 h4 Y  Hsimilar to bonds, CDs trading in the secondary market have different value at different times,  q' H. S9 Q5 ?% w
normally the value is calculated by adding it's principle and interest.
) x: L; H) d& W( A' I& ?eg. the value of the mortgage+the interests to be recieved in the future.
  ?% I6 l5 I+ _- V1 j# z. Nbanks 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.1 X7 N, f  a2 S+ l5 f; \
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im not quite sure if the multiplier effect does really matter in this case.
- p) g+ Q( s6 D4 E2 r, sin stock market, it's the demand and supply pushing the price up/downwards.
, \2 z7 }. d' F; T& b0 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 R5 ^6 I" Z+ d" u# d" `
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 f. S' D  l; Y- U
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.
" D2 j2 `6 a8 R$ t5 p- rbut the value of their assets did really drop significantly.5 E! A2 X9 O0 u' j9 b1 |! {
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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
' X9 W' k3 e- V1 @Refer to last example,7 W( v$ f" Z7 B; j: U0 u
that means bank A have no money because we borrow 10 dollars from bank A & p0 `! [. J# j# l/ b) N2 s
Because bank A doesnt have enough cash on hand
  c( O* K& I& q. V/ atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 o. l: e# D8 Q# p3 p! R: S$ h. c  OA->B->C->D->E1 K, a) \4 _8 k1 i& ~+ ^! n1 {
so does it mean if E failed to pay D,
: V  J. p, l& j" G- t7 o# M4 hall the B,C,D,E have to go bankrupt?" ]% h& O, l$ H+ ^3 X

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* k" n( i& T% w0 R8 |8 z; Tthe multiplier just tell how much money created in a whole economy,
) b- {6 Z9 y9 Q1 E; }in this case it doesnt really matter how much money is created,
6 v- g- g+ p6 `4 K' B7 Yit's the problem of the debt itself.
' A/ J; b& [7 J; Cthe 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+ e2 S* l; U, A. h# d
小弟一直都唔明..., ^- f! x. U4 V9 F# Q. c( d

( M  W. K  l* [! c1 ?6 H. Y5 Z) v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...
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敬請各師兄解答
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  z, A* d: F8 k8 S( uThanks

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那些根本係 紙上財富  $ u+ s  F7 K. }9 d' K( w
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% w( l( a; X8 c: M4 b
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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 N& w1 o1 e  K. v, ~; U8 r當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ K- S' Q/ V. Y( G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 o4 y2 v) K" O' T4 ?% U/ Q$ u
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# b8 a$ q& a! n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 M3 b, ?  z) [1 \. |% l! }2 R  y3 v
計番回報率就已經係50%,所以可以好好賺' m* l- R+ W$ N2 Z- K: f8 I
前提係銀行之間要互相信任先可以咁樣借法  i$ n" O, ^0 M# t& e$ o
同埋個市場既前境要係好先得. |9 }( @- c4 G' ]6 v: z
但當經濟一差,公司估值趺了,物價不升反趺
0 V+ P! W7 ?  x) k1 w# V例如剛才說10蚊的, 趺到得番9蚊,
9 |: U/ K/ @: [& W咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' F1 m1 }: _  `* L
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,
+ G& Q! s3 ?. U! [. D3 D( x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, . K3 J3 z( N! y) A, B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / Z8 s9 ~! |8 r) s
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
' g* ^! q/ \" G, i' ?  ?3 L+ x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 a# f# c  w( x  r; O2 @/ F唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) S# K: Z3 r% ~! A8 r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * t7 O! Z8 I4 Q# x
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
: d) _8 r+ V2 F: D咁你話d錢蒸發左去邊? ...

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正係咁樣" B$ H/ L1 E, M! i
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
' ]! n5 d- m- i$ m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,4 |5 r, M1 E9 \& t( L7 W" `' P
連國家都係問人借, 不停發債券, 印鈔票0 C; k7 }7 ^' s- t; C: x
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! Y2 X+ c" F' l$ W
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 m. S# `* Z, M4 c6 M+ J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 K# i& a) X& l! o$ ]
因為以前未生產, 先消費
. p7 i' V; n0 q' s/ n8 e  n而家就要多生產, 少消費