0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 T8 Q, D0 }% I! sWhy bank will sell 借據給第三者???' L7 M# f; r' T
I was so confused.....

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講到尾都係賺錢( D5 A; ?0 u) @. R
so銀行可以不斷放款+ i) i4 j% ^7 F2 K
美國的房貸問題散佈到全世界
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8 v. L# Y9 _0 v' W0 [; j" P! Umortgage loan - K5 r! \3 D- G/ S4 g1 f
>conduit, M/ y: g0 r$ a2 B- j
>RMBS(Residential Mortgage Backed Securities)! V( Q2 r1 S$ E9 g
>arranger* R4 @4 m$ Z6 Q. ?5 M
>CDO(Collateralized Debt Obligation); b) R; h2 n% W6 m) X
最後去到投資者

Kev

i thought it is the reason of rate of return.
2 N3 d& |, H* gCDs could have different ratings, AAA -> F,
7 p6 x4 {7 g5 E# C  r3 Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.0 N' V4 I/ ~/ d8 M8 g, Y4 T% _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& l8 l3 Y/ l( h7 j8 r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) Q+ ^9 U' G; W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 f) t, C; j& Rsimilar to bonds, CDs trading in the secondary market have different value at different times,8 r, V0 x% ?/ a! f
normally the value is calculated by adding it's principle and interest. ! p, L9 m: _/ z3 J3 S" N
eg. the value of the mortgage+the interests to be recieved in the future. 0 Q9 V' v, n+ A9 b1 h
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./ K) H" C" v& B1 @! x1 n$ Q; W

: ~" U0 e: Q% A8 R  vim not quite sure if the multiplier effect does really matter in this case.
1 Z# d2 a$ ]' Y9 s" z" qin stock market, it's the demand and supply pushing the price up/downwards.& J( _: P  A- N
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ r# ^. I) [. H+ g9 w( e/ U1 dA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ H0 i- [6 x$ O  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. ! S6 W, r! j& a. V5 j
but the value of their assets did really drop significantly.) ^) G! D& c1 q5 ~% a

: C! E- U0 S* h! l[ 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$ x# u, C, F% A0 X" sRefer to last example,4 c, a" Z8 K- a8 S3 a  O
that means bank A have no money because we borrow 10 dollars from bank A ) B) ~; y6 [7 v1 v: p  b, h: l
Because bank A doesnt have enough cash on hand
3 T5 i+ {! X$ u: o! gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E- J: ?/ }( o8 j' V/ b! f  K5 x
so does it mean if E failed to pay D,   V3 E( e8 @* _  m0 A6 w
all the B,C,D,E have to go bankrupt?
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: E, `( k7 \; h0 `- i5 Jthe multiplier just tell how much money created in a whole economy, * [$ Q! m( H/ ~$ N
in this case it doesnt really matter how much money is created, + V3 r* c4 A* L( {; |6 W9 I: T: e
it's the problem of the debt itself.3 |8 A% y6 L$ T' Q9 _* K
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: j5 l* u  D1 M, ?- L9 W
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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) |/ F$ M8 N8 O. x+ s1 Z無可能淨係有人蝕錢無人賺架嘛...
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/ `% v) Y  K$ I敬請各師兄解答
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Thanks

6 V  f/ H; R& r  z& z# x1 T那些根本係 紙上財富  * @/ ?5 v' [1 `- R- e' ^  e
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, T0 |7 P9 j4 @

* e2 R) O( x: m( k5 j" Bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
1 ?" B$ s* f6 w當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 y3 A: O7 j" A; T. W- 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+ z+ P# _2 _* k( U
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 N$ B6 ?6 P0 X9 l$ ]9 }0 h4 ~  P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% s1 X. ?+ K1 W# |* `4 a
計番回報率就已經係50%,所以可以好好賺
( f! h( U9 @5 `7 E6 W9 r" v前提係銀行之間要互相信任先可以咁樣借法
5 N" w, G1 d/ \! k+ Y+ v  I同埋個市場既前境要係好先得, G! F, T! |. }: V4 r
但當經濟一差,公司估值趺了,物價不升反趺
4 ~/ ^* F: x* y7 [+ f% S2 y' q例如剛才說10蚊的, 趺到得番9蚊, $ ^3 W: |0 b5 ?9 W  A: ?
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# j( w; K# _4 m! U所以你就會覺得D錢好似蒸發哂咁9 A1 f  L' j4 @! {& u7 Z
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你都可以當標野咁諗, 個樣野多人可以狂升值, ! `+ ^3 v$ d5 X+ 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, , ~: I. b7 b5 p5 [! Z7 k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ a& {% u# s, n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
$ x; k. {- J/ a+ ^4 W, A. ?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
  {4 w' X+ M& @( m5 j) }# R唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 M+ e- t9 f5 \+ l% S: Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + ~' h+ j# i8 H7 ~* 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. |+ {' K: O) U
咁你話d錢蒸發左去邊? ...

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正係咁樣
$ x- j: L$ ]9 x5 v! H/ @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) e4 Y6 q! p6 c
分分鐘佢地唔使還錢; _3 N7 Z; Y$ v# `; z& \

0 _/ k5 \& }2 k9 \' R7 W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,$ Z# L, }" z5 a, i: i2 f
連國家都係問人借, 不停發債券, 印鈔票
( J* R4 g7 Y1 x' Q% l$ a! i一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# I- s  {$ \( {0 F! p5 ~7 C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
# k* z/ z1 u1 `  B/ N' I咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...3 L" e! F. V0 B1 g3 }
因為以前未生產, 先消費2 E' G1 ~0 b8 Y
而家就要多生產, 少消費