0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# {, l" T$ ^" }6 u4 ]+ ^
Why bank will sell 借據給第三者???( N' h0 ]: q* z1 Z. r& K
I was so confused.....

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2 a4 Z; f/ {+ F; i% l7 n' h, f講到尾都係賺錢9 P' G/ l  r# e; s' D3 s4 v$ q
so銀行可以不斷放款
& m* ?2 u& A6 j9 P0 H* \4 Y7 x9 B美國的房貸問題散佈到全世界! |! g( v$ e% K" Z
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mortgage loan
7 I/ B/ C' j+ J1 L9 _5 m  F5 L>conduit; }  P( [: H: D
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
# b! D: T* o; c9 Z! I  `7 Q最後去到投資者

Kev

i thought it is the reason of rate of return.
! R* G6 M" p' @- lCDs could have different ratings, AAA -> F,. u5 k- {( r" l2 j, r
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 c1 I  O9 Z( L2 I7 j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ h! O, [# g' g4 G& t0 h2 Z( Jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ v( U6 U1 G( c0 F7 s
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( x3 O) _5 C. H  O0 p% T
similar to bonds, CDs trading in the secondary market have different value at different times,
* l4 r4 N. v' ]7 h2 Y' Unormally the value is calculated by adding it's principle and interest. . O8 N- r* b/ }8 K( S5 {. I
eg. the value of the mortgage+the interests to be recieved in the future.
8 h/ r$ ^' p( l* d7 J$ |  z; Jbanks 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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& P; T1 f/ {$ W/ Tim not quite sure if the multiplier effect does really matter in this case.# f) F0 ?6 X# t6 y/ K( U
in stock market, it's the demand and supply pushing the price up/downwards.
2 t/ @2 X6 C! b/ W$ W. UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ y1 n5 o/ E% _7 _A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 k2 N: A# A" j. s8 R8 f+ SThe 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. ( Z' a" |$ v4 a
but the value of their assets did really drop significantly.- B# {) i0 C, s2 ^8 a8 a

$ N& V* J3 x3 l, p[ 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/ ]) {. u) j- d" O' w8 q: h, U. \
Refer to last example,
5 b+ w8 c3 G$ t. J6 l' {that means bank A have no money because we borrow 10 dollars from bank A   K# H/ C" V: V% V
Because bank A doesnt have enough cash on hand 6 ?/ z1 W. P! \% |! V
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E- k& r) p2 S: q" L/ X
so does it mean if E failed to pay D,
4 T, b% I0 Y$ a1 dall the B,C,D,E have to go bankrupt?
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+ b4 _/ \9 k: o' p; Uthe multiplier just tell how much money created in a whole economy,
+ r" M7 d$ Y$ f9 `* P" zin this case it doesnt really matter how much money is created, # {: V8 k. B- x$ D6 G
it's the problem of the debt itself.7 k! \: i+ N8 C3 {2 ]% Q( W
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+ i! L: b- Y9 `) L
小弟一直都唔明...
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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...
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敬請各師兄解答. Q6 z) O% |8 f, t3 N! s8 h3 \

$ H$ E+ [* b/ A6 V: |Thanks

* z" _4 U9 Z. E- p+ Y3 x$ p那些根本係 紙上財富  
9 G  z6 |# ]( e! f- S" L) }4 F3 Q* h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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* b6 `2 b7 c8 h3 P7 P5 u/ Shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ O2 d7 W9 W; z' h( m& U
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 T0 Q: _2 g5 \) C, J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
, R" C3 R& d  i" B7 C" @1 e, }個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ b+ x+ C) q- m; f5 P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ g7 @7 s) \$ c" B+ v
計番回報率就已經係50%,所以可以好好賺! i7 W( J" A/ q/ `1 i2 [
前提係銀行之間要互相信任先可以咁樣借法
% c- n, r* S2 ^* {同埋個市場既前境要係好先得$ T+ L- \( g4 Z0 M& w1 w
但當經濟一差,公司估值趺了,物價不升反趺6 `1 N8 u9 e1 J/ f9 r
例如剛才說10蚊的, 趺到得番9蚊,
: F  N: q2 E/ Y% H0 g3 |咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 ~% f5 P. m0 _. U# `! H所以你就會覺得D錢好似蒸發哂咁0 M( f2 s9 @8 j6 F

* s) U' p9 X% Z你都可以當標野咁諗, 個樣野多人可以狂升值, 6 _# s5 ]; k# [, q/ J' T: Z$ r
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,
0 w, V: Q1 z* @& W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ P4 W5 m7 Z. C6 I' v9 O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 B8 b# m$ Q8 C. @" 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.gif1 S1 x% K5 K" P0 @" ~& D3 d' y
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) U; S& s, A& y% G  S5 ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 f: E6 E2 X0 A; R* O; d& j" U) L
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! b2 U! c6 X* ?8 j: F  }$ }0 V
咁你話d錢蒸發左去邊? ...

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正係咁樣4 t5 J! H* B+ ]" d6 z/ V0 _
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
# J0 [* Y, u# @  F4 ]8 J分分鐘佢地唔使還錢7 E4 o8 T' B: V# v- u$ Q# ]. `: v8 k

' d3 m& l3 L' X8 C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,
  l$ _  r* p6 B+ b* u連國家都係問人借, 不停發債券, 印鈔票7 `$ J; N6 g% M; G6 F* Y" V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 `. r$ C9 V& x$ S* Z) 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  v! I4 o: H" n, z) v6 E
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...2 W- X. J( t8 h+ j8 K
因為以前未生產, 先消費( o, S2 R$ Z, O3 ~
而家就要多生產, 少消費