0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' t! {2 j7 ?# X* ~; x8 b
Why bank will sell 借據給第三者???
. R  t! v  M( w; w8 C0 qI was so confused.....

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$ @* w0 V( ~: ?5 S; U講到尾都係賺錢+ ]" A/ r3 o/ w, v5 F
so銀行可以不斷放款$ K( F5 e1 i( g8 D
美國的房貸問題散佈到全世界
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8 [0 h& \1 n) X8 w+ Rmortgage loan
0 c: L  Y' M' d- W9 c1 J>conduit8 _8 H7 d" M% N
>RMBS(Residential Mortgage Backed Securities), }0 v! d. \2 j! X4 W
>arranger3 m! {/ U! @4 u: k1 S" J
>CDO(Collateralized Debt Obligation)
' H! ?6 ]% V: P, `8 k- w最後去到投資者

Kev

i thought it is the reason of rate of return.- b& ^9 V8 Y+ }( r7 L
CDs could have different ratings, AAA -> F,
; ]  u6 \; D# d2 cmore risky ones would have higher premium (interest rate) as a compensation for an investment.' K: T8 ]- `, ~* E6 G* t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. D# h! ~9 M2 _4 t9 _% m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 y7 O6 q5 _+ jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* D0 t1 u3 `- a, a' z
similar to bonds, CDs trading in the secondary market have different value at different times,3 m( U  Q+ _# J7 @1 T
normally the value is calculated by adding it's principle and interest. $ s# }$ ^; `; a9 Y* S4 C, H& k& N
eg. the value of the mortgage+the interests to be recieved in the future. & b5 ^& C! X1 C( c) L1 g& T4 b
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." n! H3 n3 k5 g! T4 p5 ^! {. z
in stock market, it's the demand and supply pushing the price up/downwards.9 G" a0 A6 ?. N( M1 C" T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 P/ M& p1 c/ l: H) _' q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! _2 f0 W! K' F0 a* F% g/ ]# }7 A
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. 1 N" y& ?4 ^  k2 o
but the value of their assets did really drop significantly.6 [6 z) j+ e0 _! _# i2 F7 x# [

- b! k. }& j' v[ 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  k4 `) g. M7 Q+ a% X2 g" T6 f) `
Refer to last example,, P& P5 Q5 @9 w* x
that means bank A have no money because we borrow 10 dollars from bank A
! Q2 |4 |5 d0 k+ a( G& F# o+ |' _+ xBecause bank A doesnt have enough cash on hand
5 \9 `2 x8 g1 m8 i" \therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# {* O( r$ z$ _  @! y7 l- cA->B->C->D->E% s# n$ R: G& N+ K8 \& B5 L0 J/ ?- \
so does it mean if E failed to pay D, $ t* d; i3 w& x1 T
all the B,C,D,E have to go bankrupt?, J  ~  B- s0 X- _" B+ d  V, \0 S
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5 j0 u/ u& ]7 tthe multiplier just tell how much money created in a whole economy,
) `4 e) Y  C* x8 K. I+ z8 Kin this case it doesnt really matter how much money is created,
$ n& @: x( i* G5 [* C: D2 tit's the problem of the debt itself.
) y/ C6 h! y4 gthe 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( J4 {6 ^! a2 {% M0 U8 [
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?# `: y  T0 U5 o# Z

! i6 p4 ^( q# @5 A' \4 Z$ s/ O& u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, o% }) b8 t: J: ?

/ K+ C8 O& H6 b: CThanks

+ a3 ]8 }3 @: s1 K1 @那些根本係 紙上財富  # p) G0 ?+ S% j' g
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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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
* l& e! r9 N" v, o當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 q" c9 R; x+ r% p& l  `+ c
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/ L" y" o" G. I  k' w: z2 r8 y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ ]( z8 N9 ~- Y8 w0 x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 u( d+ z6 n' A5 j$ o計番回報率就已經係50%,所以可以好好賺
4 D4 w9 x3 g; t( X1 d7 m前提係銀行之間要互相信任先可以咁樣借法
- q7 B' Q3 r5 n* C0 V3 U+ Z同埋個市場既前境要係好先得* P  U7 ]: d8 w1 N) a  \
但當經濟一差,公司估值趺了,物價不升反趺
* m5 q9 U+ [% g7 R例如剛才說10蚊的, 趺到得番9蚊,
/ F& E' k% O3 L. I7 x$ {9 \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ \; U" a8 w+ L所以你就會覺得D錢好似蒸發哂咁
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) D) N7 n$ F4 I0 \. ]+ F' J你都可以當標野咁諗, 個樣野多人可以狂升值,
% b  i9 ^+ {) g* I; 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, # u& t, j% j$ y( {, [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) w" V5 @; u- [+ ^( \3 P
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. |2 `4 i. w( T
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: k5 h& L3 ~: d4 N
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) q9 N! J/ W) y9 r9 R/ k( `淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) D# X- M) W. K3 {! y
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
$ u1 r4 ^" v/ N# d$ }, g- N& d咁你話d錢蒸發左去邊? ...

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正係咁樣" M9 a8 [6 Z* M7 B3 Z7 e
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 v3 @2 Z6 f/ j6 d3 Y6 [2 A5 X/ z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,
! T" ]6 e/ U5 B; ~* v連國家都係問人借, 不停發債券, 印鈔票
* e$ U$ E0 @; ^* Q, F  r# l; o一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 K7 k8 ^$ `4 T9 M' e% d: N# u, \$ E2 o
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+ V3 C5 a4 q# S+ [咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...5 h5 A3 W% L  k( P
因為以前未生產, 先消費. Y# p1 C* C& Z! d7 N  U
而家就要多生產, 少消費