0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! `/ c7 P( x  d! [8 hWhy bank will sell 借據給第三者???0 y$ [! v9 N) |, Z2 ]# J- W5 e
I was so confused.....

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講到尾都係賺錢/ d) n3 t# ]1 G  @5 V! j2 Y' {4 ^3 }
so銀行可以不斷放款* L' o5 F# G6 @+ B' h$ i+ _  f, I
美國的房貸問題散佈到全世界& M/ f* ]/ u! P4 b
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mortgage loan
$ f6 y9 A  ]/ [) Y* ^0 D) R" h>conduit
0 ^; N  C. B8 i$ K  X& w* y>RMBS(Residential Mortgage Backed Securities)7 y( R% D$ Q* R. q
>arranger0 N- R. X0 W" {: ]6 ?
>CDO(Collateralized Debt Obligation)
- I) t- K& J1 P4 U- g最後去到投資者

Kev

i thought it is the reason of rate of return." w0 U! h; I( _3 Y% b; ^
CDs could have different ratings, AAA -> F,& O. J4 E$ ?' n
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 \' W6 }3 Z. ^( smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& V# c4 f' h7 o# L. e+ r; O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& ]) t* w' S3 M* FAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 s  a  w9 N) d2 Asimilar to bonds, CDs trading in the secondary market have different value at different times,
6 C; R7 H4 E. n9 e+ @normally the value is calculated by adding it's principle and interest.
8 P' `: `+ B6 H: j8 ^. |0 h9 Meg. the value of the mortgage+the interests to be recieved in the future.
8 F; b, e  Z& W; q9 }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.% j& c/ g6 b3 m6 {- g
in stock market, it's the demand and supply pushing the price up/downwards.
: E! ^: Y0 Q+ ]2 e+ o0 B/ e' X3 vFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: z7 ]5 W9 p( u6 ?# d- G3 g! ^/ IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) Q8 g# G5 ]" g1 `8 ]& [" E9 S
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.
: w% d4 h% ^2 c5 Ybut 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.gif
* ~/ E0 Z- @5 j1 }; B4 a- ^Refer to last example,
9 E& R) x" U' {% {! uthat means bank A have no money because we borrow 10 dollars from bank A ! H9 N+ {2 A. j6 y: y" ?8 b
Because bank A doesnt have enough cash on hand ( ~+ c; F" L5 K6 |6 h
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 {! w% w% }8 h  UA->B->C->D->E
9 u' n) W* t! z  _0 j' cso does it mean if E failed to pay D,
: y* I- [( _9 j* Q- \all 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,
% A  A5 s  v9 ~in this case it doesnt really matter how much money is created,
( L" p, A/ D8 W& ?1 B5 E- git's the problem of the debt itself.- U; f: }; V9 w* Y
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
% s, K1 C, k) g' b) L$ W! O' |, g, T) h5 X# t小弟一直都唔明...! C/ x6 K9 h! A+ H4 J

: ^8 @0 |$ u: g# B- s1 Q; m0 M全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...( w2 F+ c6 n/ I/ w

2 c: ?8 w) P* r敬請各師兄解答) _# \! o& H1 t$ [

7 d2 n  j) Y$ i- w1 q9 yThanks

9 l0 y" j/ Z8 C0 k那些根本係 紙上財富  6 [2 J: l, r+ E. I
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; G7 C. U% U1 k. h/ j

( e4 X. A( P( w6 y/ D" }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0 S* K" j9 I. J& w. D# g' `
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, T8 W- |  [- 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
- _: |- C3 r1 _個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: g1 I3 O2 r# w( m; P* m$ @7 o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 G, ~2 L3 ^+ b) J" T2 R0 [& j6 n計番回報率就已經係50%,所以可以好好賺
  u' t3 [9 w6 p( d) g' i前提係銀行之間要互相信任先可以咁樣借法6 e+ c/ a; k" Q3 k# P
同埋個市場既前境要係好先得# W, r# ]: @2 `/ i9 {# L
但當經濟一差,公司估值趺了,物價不升反趺
$ e( D$ @( ]! {. ?; [例如剛才說10蚊的, 趺到得番9蚊, # y/ Y9 l) R. y% o# I: ~/ }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ ^2 S2 X7 w2 ^0 [  h- F& ^
所以你就會覺得D錢好似蒸發哂咁
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. `5 ?( j/ p0 _; ?- x; R' F: H你都可以當標野咁諗, 個樣野多人可以狂升值, " _: G* `" p  d! q, n
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, 1 v: k; f* V$ S" w- J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! z/ T* H2 j0 {0 @( a1 Q
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
" Y" {" A3 l; B$ ?/ Y6 g* F- P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  q8 W$ B" Y2 n; M
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ f5 N2 k- F* }. M6 G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' {1 c9 @! w* P: [; v6 D" F; F  M% ~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9 X/ G$ y. n9 p8 v
咁你話d錢蒸發左去邊? ...

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" b/ L6 P, L" _4 l0 X4 c1 H6 ?正係咁樣
. f& L% c7 O4 v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7 e; Z* l4 E: z+ e0 q6 i/ a9 a
分分鐘佢地唔使還錢
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' `. }7 W) p) h8 X/ K: F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,
! h/ J/ t9 H& u( C4 T; `連國家都係問人借, 不停發債券, 印鈔票
; d# t8 F, E6 ]- d& A$ g( [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! |; p3 a! H) \. [  x$ U/ t8 L
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.gif2 q# R9 S; w6 }2 w5 F' k; I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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, z: _- V; N+ i4 [/ L& r其實係...
. A1 N$ \: H3 N- V0 Q因為以前未生產, 先消費6 k( s& F/ d- f: `
而家就要多生產, 少消費