0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 L1 C) u5 l/ S* V* sWhy bank will sell 借據給第三者???
& y3 F2 K( L3 f5 l* ~' ?0 J/ c$ oI was so confused.....

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) k- [5 u/ k% Z! D. e講到尾都係賺錢( w) a7 {1 x8 R- s, z: B6 `8 P
so銀行可以不斷放款
4 c# R+ I) @$ A2 r: a% T6 n- Y$ F美國的房貸問題散佈到全世界( K3 m& M, g0 z5 {2 i/ X1 Z
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mortgage loan 3 i0 G# m) k+ W8 V1 ]! T8 j
>conduit
/ \1 b* P9 S% y. C1 I>RMBS(Residential Mortgage Backed Securities)  P# ?/ U: A& O- ]. M
>arranger
% G8 _6 J: k3 r+ R9 k# o5 \>CDO(Collateralized Debt Obligation)
6 g0 a2 ?2 _/ E9 Z最後去到投資者

Kev

i thought it is the reason of rate of return.
* w: ~! A  y( c$ \; mCDs could have different ratings, AAA -> F," G# ]/ ?" P  ^* w) S
more risky ones would have higher premium (interest rate) as a compensation for an investment.) N" h+ w$ {9 J; t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 B7 C3 c4 e' C. h4 a+ ?0 P' Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( j+ S: m6 S9 t6 ?, P1 g% G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ V2 T6 S: }6 lsimilar to bonds, CDs trading in the secondary market have different value at different times,
' ]* \2 t0 T6 o. rnormally the value is calculated by adding it's principle and interest.
; J( \: X$ w. z  u; E) Weg. the value of the mortgage+the interests to be recieved in the future. & w2 x( p( d8 h; R
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.6 F' d6 ~1 }1 ^8 A0 b9 C- F6 w
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im not quite sure if the multiplier effect does really matter in this case.
# w% Z( `8 x8 uin stock market, it's the demand and supply pushing the price up/downwards.* Y# w: W0 r( v% h! d
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 W7 M: o' T2 ~+ ?+ l8 ]A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 w5 x4 j& l( EThe 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. : h" X9 G) Y  X( X9 O
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.gif3 b% j, ?' w8 E3 j1 B! ]
Refer to last example,8 C" A8 {+ b# R9 q' s
that means bank A have no money because we borrow 10 dollars from bank A
: s. a1 z5 ~% a. GBecause bank A doesnt have enough cash on hand ; l: ], U3 I! {, r; E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* B- r- a8 ~. b% i  R9 f4 M1 |8 {; eA->B->C->D->E1 s% ^' D2 B$ {! d' |1 w! @
so does it mean if E failed to pay D, ' ~- F. {& f. f
all the B,C,D,E have to go bankrupt?, e4 {) d% C( U4 V; |* ~+ Q' e

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the multiplier just tell how much money created in a whole economy, + x5 z4 v+ h8 {. k
in this case it doesnt really matter how much money is created, " D/ F, x* q. K+ }: ?, U* ?
it's the problem of the debt itself.& A7 u. m8 x) d& e& H, J# @
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
' C% k: F* k1 _3 s# V" N小弟一直都唔明...( r6 F# G" }8 d! ?+ N. k2 T
3 f3 i' m  Y- {2 [* w# \
全世界都蝕錢，咁邊個賺緊錢呢?& ]( a7 c% t* h: {4 l; A
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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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" V9 A9 v1 t2 `% R! x5 vThanks

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那些根本係 紙上財富  
8 T% f, ^* \2 B+ X* z8 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 graphic0 A2 w; K8 d6 z$ |' L+ ]

* G( [) e1 o/ y3 w" e5 `7 Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 f* X2 c9 O1 m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 k' Z) U0 y1 i0 q  G. u- A. e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) G) j/ a9 T7 q5 {9 C1 n2 T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 p% h2 I  m( T1 g5 d6 l6 A
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," p+ d+ y+ o; D( `
計番回報率就已經係50%,所以可以好好賺
# X! H/ h3 V/ C! M# @. U4 F前提係銀行之間要互相信任先可以咁樣借法
+ R! t0 \1 Z3 {: ?2 Y- F同埋個市場既前境要係好先得4 A; F, D5 P  K; Q3 n
但當經濟一差,公司估值趺了,物價不升反趺
6 \- y. J' B7 S5 f- {. a& \0 q, r例如剛才說10蚊的, 趺到得番9蚊,
& P5 X6 c7 f8 ]# G+ p咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 I+ `$ V' S5 L6 |- P所以你就會覺得D錢好似蒸發哂咁
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, Y1 T) ?! F$ R0 L2 h9 Y+ n你都可以當標野咁諗, 個樣野多人可以狂升值,
. T# B* v. M5 r" T  @; c: ]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, $ d+ v1 s2 Q/ U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 C4 z7 `5 C5 D4 \3 |5 D& U
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3 C: X; x" }8 ~! B
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
- k* D8 p- Y% u- I, B4 M2 z* r8 s唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 i9 O3 v6 @& {. Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 u9 p% z4 x! ?2 f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% N( M5 ?$ \, F' w
咁你話d錢蒸發左去邊? ...

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/ D  [  p+ U! d+ W正係咁樣. R  h# d4 p/ I0 z  n
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
: l# ^1 v4 ?- x+ S' V8 W3 h- O) @% t分分鐘佢地唔使還錢1 i" e& ]3 E  P" h( B

: o7 m4 S5 W# f7 b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,
9 F) ^) b" N$ r5 F) ?連國家都係問人借, 不停發債券, 印鈔票' f) L  [1 T4 u  X, f! o
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
5 g% ^3 `& C9 ~  O0 c7 i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
+ ^6 S* C! @5 @$ B% g$ K- [咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
) c: L% S  S7 _$ B因為以前未生產, 先消費
0 e2 ?" N) O% I6 \2 p5 I而家就要多生產, 少消費