0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& \1 ?! E+ |4 d% A; S6 @4 V2 r5 iWhy bank will sell 借據給第三者???/ r; D3 B* q" Q1 Z# O
I was so confused.....

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講到尾都係賺錢5 X! ^/ B, q" T) }
so銀行可以不斷放款
# n4 V" |" F0 ]' I; u( T美國的房貸問題散佈到全世界
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# F% K5 J0 Y- r5 N" Xmortgage loan 9 M2 ?3 H0 B, C! i7 j/ I( j
>conduit
, c0 j" C. k+ a) ?* l>RMBS(Residential Mortgage Backed Securities)
- G  t/ R: o; w3 G1 ?" [  B5 U>arranger/ R$ L( g9 f3 s. q0 ^; b
>CDO(Collateralized Debt Obligation)
9 \' X! `5 P( z) C8 s' D/ l7 V最後去到投資者

Kev

i thought it is the reason of rate of return.6 i1 u, X/ [$ F) l
CDs could have different ratings, AAA -> F,6 N9 q1 i- s) L) {7 A- u" b
more risky ones would have higher premium (interest rate) as a compensation for an investment.) ~6 h: v3 P+ D6 I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- b+ w( U" Q; C4 B9 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; a7 g! h. |2 G5 a9 ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." i2 C  N$ H( N! o3 W3 M
similar to bonds, CDs trading in the secondary market have different value at different times,
3 Z0 z( S: e. J: }normally the value is calculated by adding it's principle and interest. $ ~$ T. z& g, E( ?7 B3 c' |% {
eg. the value of the mortgage+the interests to be recieved in the future.
. g- x( s9 y/ S+ Kbanks 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.
, E2 ~  S9 s1 i( g& q, ~0 D2 yin stock market, it's the demand and supply pushing the price up/downwards., M$ O8 V& t* Q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" ~8 C5 X2 _7 D! D4 |9 v& i4 IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& V. a* L' f3 l
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.
9 q1 y& q  p/ V% v1 g. Ebut the value of their assets did really drop significantly.
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% @- O4 ?5 U. F  Z% ?[ 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
1 [8 Z; x4 o1 q" `- c: [- wRefer to last example,
7 N* w9 M4 _5 u$ S* fthat means bank A have no money because we borrow 10 dollars from bank A # N9 P# n8 E! Z# i( ~" W1 ^4 s2 o
Because bank A doesnt have enough cash on hand
1 q  R9 d* U6 a4 I3 y: Gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
% G5 c+ u8 g2 ]so does it mean if E failed to pay D, % ]' X5 k* V% d( }
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, 2 P6 S1 Q' ~: _6 j
in this case it doesnt really matter how much money is created, 2 A& L  p1 ^  S+ q* S" b8 }& M4 I0 g2 H
it's the problem of the debt itself.
  E7 V' h1 l/ o" w5 M% Qthe 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
( ~6 P" l/ C4 e" D3 [小弟一直都唔明...4 I7 v$ D) Z! s1 j/ b" m
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全世界都蝕錢，咁邊個賺緊錢呢?
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, i/ S: T  j: q  P8 |無可能淨係有人蝕錢無人賺架嘛...7 w$ i# Y; I( A5 I" p
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敬請各師兄解答1 b- T- U0 P2 e% _
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Thanks

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那些根本係 紙上財富  / X7 U8 |+ n% i6 [' a$ F
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 graphic7 r! {: l' H  ~% e: k) H. I
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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# z4 K& I- a+ \1 _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ t& J* M' B4 }" R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' r2 e6 O( S  n# g% z8 M' d
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 C0 _* `0 w+ Z/ j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" z) B, Y+ a" e4 F$ p計番回報率就已經係50%,所以可以好好賺
; Z$ D. Y: d9 P5 h7 i前提係銀行之間要互相信任先可以咁樣借法( R2 f) N- X: t& t- }( V
同埋個市場既前境要係好先得, l  W$ _2 q! u" `! s* _
但當經濟一差,公司估值趺了,物價不升反趺* o1 n0 v$ Q. N" C# u& Z
例如剛才說10蚊的, 趺到得番9蚊,
3 K3 [6 W& w9 @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. Q. C5 ~5 K% h
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
$ H! H9 W. [* v$ h4 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, 5 q( ~; p$ L0 e2 |( H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, \2 D' E1 X+ g, i0 L1 R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: a% m6 D5 l- P" j
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. D) s1 B0 D5 s+ P/ C" S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, , e  N! s1 R% d  n. ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% f* v6 ~0 n# L1 Y& X. 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 G$ `+ `$ T4 ~
咁你話d錢蒸發左去邊? ...

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正係咁樣) b  l* B. f+ E* e7 l
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
$ \: s( R/ P+ `8 g3 c6 H' [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,& L6 i- u" I1 Z( Q
連國家都係問人借, 不停發債券, 印鈔票
! }3 p9 ]5 E/ n4 h" K/ t4 C5 ~$ V一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, ]( J. B$ x: n0 `# x
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" E' g4 `% A, f4 N! D# Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.../ b2 M/ f" @' U% y
因為以前未生產, 先消費
0 `. `( n% _& Q6 |而家就要多生產, 少消費