0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) M  f  h( U1 W$ j" w9 F" OWhy bank will sell 借據給第三者???& G0 C$ q5 u! V
I was so confused.....

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講到尾都係賺錢0 n8 G6 l/ T; {# y' r- s
so銀行可以不斷放款& M: E# K7 A" ]" A: t) H- d# l7 N
美國的房貸問題散佈到全世界; o4 _# E# S' @2 s% v2 c! A; [6 f& W
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mortgage loan # X3 E5 q6 X% ^% w  F* t
>conduit8 I% x5 Y/ ?' y. `1 S
>RMBS(Residential Mortgage Backed Securities), [5 @6 E. p7 Q! }3 i, _
>arranger
7 W7 q" A7 U( T, c. [>CDO(Collateralized Debt Obligation)
" F* n1 g% _2 A) B# J3 Q最後去到投資者

Kev

i thought it is the reason of rate of return.2 W; ?0 l5 W0 F; S3 }& u9 |
CDs could have different ratings, AAA -> F,- x7 G9 x5 j2 y6 F6 q) j+ d
more risky ones would have higher premium (interest rate) as a compensation for an investment.
$ s/ Y/ z1 {6 w: T; ~: cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. f  G; w* I# ?* Y/ j; c, H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ i* e/ ?. Q; K" P: v* M
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 b7 r4 I: e4 [0 i# bsimilar to bonds, CDs trading in the secondary market have different value at different times,
* Q5 `. h" ?3 x" rnormally the value is calculated by adding it's principle and interest.
( i6 m) d7 h9 x) v. oeg. the value of the mortgage+the interests to be recieved in the future.
9 U9 V( w6 `- y* Y1 ^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.' X. B9 O* y- t& p+ D% ?
in stock market, it's the demand and supply pushing the price up/downwards.$ U" x: L- b6 G" l$ D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" x/ y2 ^' u; A& ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., \. W5 H( F/ g2 v8 S. b7 B
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. 2 h8 ~& N2 B2 ^0 I/ M; c
but the value of their assets did really drop significantly.9 j# }' n3 p; z. ^

% t+ E9 T! q: m( i* `[ 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
. [& o# y; A# r, H# GRefer to last example,7 I/ g1 f, c: l5 Q! P! z6 e
that means bank A have no money because we borrow 10 dollars from bank A ; A2 x' O- S- ^9 b
Because bank A doesnt have enough cash on hand
7 v! H4 ?& o( f0 c0 T7 v) [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 B+ B% j+ ]: A0 z3 @A->B->C->D->E
6 l. E' g# U' O4 C: y3 x% R4 |so does it mean if E failed to pay D,   @: Y& w" u2 S3 o( r
all the B,C,D,E have to go bankrupt?" o, C* W1 Z7 x$ C( u3 o

$ C2 V, u' t  v" Z) [7 j! c# b, J% M1 \* F5 ^* B
the multiplier just tell how much money created in a whole economy,
2 _+ _+ h- s7 Hin this case it doesnt really matter how much money is created,
: ~7 A# d% Z) A8 M3 }it's the problem of the debt itself.
& Y; D4 G  e$ I' Ithe 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
  ?; B0 b+ p* _# }. a. Z小弟一直都唔明...$ Z  p/ [; N) E2 I

& q7 S% `: R0 N% D( q3 F) _4 ~全世界都蝕錢，咁邊個賺緊錢呢?
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7 {* T  U7 M4 U/ C2 F無可能淨係有人蝕錢無人賺架嘛...0 f6 }( |  X6 e+ U9 z2 l# ?4 B
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敬請各師兄解答
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2 K0 y3 \7 P& Z) `) m9 j7 J  u/ K  _Thanks

0 g# f0 K: A, @那些根本係 紙上財富  
5 ?; \9 Q# C8 n' P- S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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; ], `- s& i+ s% Phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ r5 i! S0 M, a) s4 z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. a0 d% o4 ^+ U" 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
" c& X5 Q% n/ g; G7 W% V3 i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: b9 N* ^8 `2 c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 a/ c9 ~3 F; `1 A2 A# v  f
計番回報率就已經係50%,所以可以好好賺, f$ j- B' n# i( _& t) q
前提係銀行之間要互相信任先可以咁樣借法  G; C; t7 x0 V8 J3 K3 r0 Y
同埋個市場既前境要係好先得5 d) ~# O; A8 \& D
但當經濟一差,公司估值趺了,物價不升反趺
5 s' [$ R* C0 n- p: z) R6 i1 K例如剛才說10蚊的, 趺到得番9蚊,
$ ], Q% h9 I+ J: }& s8 [咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 q$ @  k- v+ B+ `: a
所以你就會覺得D錢好似蒸發哂咁
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* Q- I  {. K; Z4 t你都可以當標野咁諗, 個樣野多人可以狂升值, 2 g! h! U! P$ L: `+ v
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, " v9 X1 l$ q4 _( }
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 \& s  K! j3 w0 a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. j/ m$ K5 h/ I; k
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
" `6 q4 l0 D0 Z' O' k5 @3 A& B唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% U5 @+ s, N/ M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & p. o1 L; @: 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
$ v: Z' x: r, e/ G6 J. ]( u咁你話d錢蒸發左去邊? ...

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正係咁樣
4 V* n7 ]4 z- V0 s& U( B7 F# u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
5 d7 [9 T0 }, |+ _6 m分分鐘佢地唔使還錢. U3 ?. e2 K* }
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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,  V( B$ k! s* X' G' ?1 u$ F
連國家都係問人借, 不停發債券, 印鈔票7 Z3 n* r6 @$ m! N, C; ^! v
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 l3 W. G  J/ W! p! r0 w, Q
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
/ C( ~, R( a: T! F* B3 D: p1 k& l0 n咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 ^* f4 J: ^  Z, R6 o其實係...% }& z/ Y: C) s& B+ e
因為以前未生產, 先消費
9 W3 F; o' q) B/ ^2 ]而家就要多生產, 少消費