0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 Y4 U% N; u; D
Why bank will sell 借據給第三者???, z2 c" d" N' D# G0 c/ ]6 e+ S
I was so confused.....

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講到尾都係賺錢, o( v# m* S6 ?% t& |- x
so銀行可以不斷放款
) ]% L( Q* b0 R' O5 U9 b美國的房貸問題散佈到全世界
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! {+ e3 Q4 o2 r, j  J6 kmortgage loan
/ \- L, L- N; G% S3 X0 n>conduit
$ o" b3 M7 m; R7 B8 C4 t4 n>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
6 ~: h, O+ K0 A最後去到投資者

Kev

i thought it is the reason of rate of return.
5 U  ?  \1 @+ t' `CDs could have different ratings, AAA -> F,
" z" i/ v9 e* y0 D$ m8 D" nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
) ^0 l+ W7 L# W' N/ B0 r  {4 Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 Z9 R' L' }% C0 s
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; N$ P  q# V8 _$ |7 x, l; z, M8 B- JAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., T7 @5 D5 E0 J( w* |
similar to bonds, CDs trading in the secondary market have different value at different times,- y9 S" x& l& y8 S+ K# a6 \
normally the value is calculated by adding it's principle and interest.
) j8 e, ~" |4 K3 i6 |) y. W8 Leg. the value of the mortgage+the interests to be recieved in the future.
0 I. y" [3 |2 r! Y' k  y* vbanks 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.7 E, J' _' A# [- H0 @  U
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im not quite sure if the multiplier effect does really matter in this case.
) K# T/ I* P$ Q8 d' E0 C9 {( Xin stock market, it's the demand and supply pushing the price up/downwards.$ Q  _9 ^6 J, G& b" k
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; Y! M% u" y; a+ J' eA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ ?6 @( X* r/ ~: g
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. * I3 J8 ?% ^: j6 B" g3 e
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.gif6 C! J" e! k$ V/ m2 }  p
Refer to last example,
% v9 M+ Q5 n" U/ \that means bank A have no money because we borrow 10 dollars from bank A * Y1 G7 H$ i5 I1 L7 Y. w7 ^
Because bank A doesnt have enough cash on hand
3 h1 F* @# ~3 s  g1 I+ u% |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E: x2 X0 {2 k' Y3 Y
so does it mean if E failed to pay D,
! d% N8 A% g/ c2 J0 jall 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, - G, ]4 M% ]( T) p$ v1 a5 D# b3 @
in this case it doesnt really matter how much money is created, - Y- ~& y6 a( s* L* B
it's the problem of the debt itself.
- J! d3 o! B* K/ o( P! K4 {4 W7 Jthe 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# u) O1 w* p4 v! [
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?, b- D9 W6 ^% y4 p
1 b7 H5 h  L% i& @$ y$ ?
無可能淨係有人蝕錢無人賺架嘛...% E9 W% n' M4 g, `" U( i, E

* d1 ?0 ~: l' B敬請各師兄解答9 t$ _3 T, ~+ d: B
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Thanks

! t% D& d. S% g' G4 _: V: j那些根本係 紙上財富  & b/ X" J) r* V8 G' \5 m' a' P8 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, C5 D, N- z. c; M; J

1 k" Q, v8 q6 b! s$ Chttp://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 c; k" j* T' c& h! u, w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ `' u* B: ]4 D" t% e. n8 A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
( G8 j9 z! D# ?% a7 P  V0 l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; }% v+ r* X! u# \! _: ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," {# M# N2 \* c. m) H
計番回報率就已經係50%,所以可以好好賺
9 `1 J; h* l# [/ J前提係銀行之間要互相信任先可以咁樣借法
' A; e, H! ~' i: J- m同埋個市場既前境要係好先得" R7 k  ^! B2 E3 d2 O% }7 W' ~1 r: v
但當經濟一差,公司估值趺了,物價不升反趺
6 f; Z% X* ~+ z  b0 x例如剛才說10蚊的, 趺到得番9蚊,
1 O" y3 O4 ~* z2 L- {; _: N咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( @6 m, X2 i& \. L  l所以你就會覺得D錢好似蒸發哂咁
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# ~7 C; `' b6 E) U3 S3 P' T你都可以當標野咁諗, 個樣野多人可以狂升值, ( ^/ M, T/ i1 {" |# }
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, ( ~; U8 N5 n/ d3 _" Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " V' D# E, v! n: ^3 ]
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) x  h6 E& w8 L+ Q  ]4 f+ u/ l
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
, n. @) x. [& H+ _, t, ^唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ J7 y' ?' ~& v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ Q* q3 o! E0 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
0 m$ O) F% b7 G  d8 L9 X9 G  @咁你話d錢蒸發左去邊? ...

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正係咁樣! e6 E) X2 Q: [5 s# s
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; e! }5 n% w/ ~8 Z6 {4 ]6 f
分分鐘佢地唔使還錢
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7 z  P& o8 _, ~# @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 R. V2 N# d" A! I
連國家都係問人借, 不停發債券, 印鈔票
6 A* f2 w& C( f0 @5 |  |. [& g一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" w5 H7 F+ X4 F6 e6 E
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
" u: j) T' G0 b& O; s  F& r3 U咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ _& E" Z3 k2 Y: K- t/ v9 O其實係.... U- a4 M6 L% {. l# K2 ^7 U+ K
因為以前未生產, 先消費% W  G, m$ ^0 I- p+ n
而家就要多生產, 少消費