0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 K! s' U! }, L0 [5 Q! ?) T4 r' hWhy bank will sell 借據給第三者???- p: n7 h& m& }
I was so confused.....

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講到尾都係賺錢
, u4 u! ?' k. H* N# p7 \# aso銀行可以不斷放款/ j8 g* d4 `( }# M1 s& o. N% s+ }
美國的房貸問題散佈到全世界
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4 \7 b5 w9 l% \mortgage loan 9 T& _: e' \% V* e: O
>conduit$ J. g& T  C" n4 W7 _& s8 N
>RMBS(Residential Mortgage Backed Securities)
- [8 k, ]9 j! d5 [>arranger
6 \* M1 h& _9 n>CDO(Collateralized Debt Obligation)
6 I& ~8 g6 S$ f0 U$ Q最後去到投資者

Kev

i thought it is the reason of rate of return., G+ ?0 O4 g( F3 L: U: ~$ F
CDs could have different ratings, AAA -> F,
' {6 O  O$ C. {more risky ones would have higher premium (interest rate) as a compensation for an investment." [( I! c* i8 X) Z% Q! y: f/ Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 s  m* J( e: ~6 k, D/ oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ F% V% H2 ]: D. o7 u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 T+ |1 u6 v" m2 |# S0 J- @6 Isimilar to bonds, CDs trading in the secondary market have different value at different times,! ?. H$ N! Y4 h( e* y" T0 w
normally the value is calculated by adding it's principle and interest.
" p( a5 K# ?- ?& R  y; ^$ R; M7 P, Weg. the value of the mortgage+the interests to be recieved in the future.
) ^% ~% f7 @. i* }7 T7 vbanks 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., ]  ]1 E9 h* ]/ m3 L0 \+ ?
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im not quite sure if the multiplier effect does really matter in this case.+ d9 R. Y6 q. d
in stock market, it's the demand and supply pushing the price up/downwards.( C2 m- N- H. p- Z6 N. s4 P5 {
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 C0 @* P/ f5 j; aA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* O; H0 j( s! I: e
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 _# G) }; S0 h+ N7 |1 x
but the value of their assets did really drop significantly.
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& a; B" p) M" J5 |[ 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
! J' ~% i. I9 V6 g' D0 C+ G" L. nRefer to last example," o, C4 B3 \. O" z9 A4 P
that means bank A have no money because we borrow 10 dollars from bank A & F8 q; e+ g. w
Because bank A doesnt have enough cash on hand , x; _* u# |4 Z; W# f& b7 c
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 b  e$ {, ^/ b4 O1 ~A->B->C->D->E
* Z/ B' q1 `( k" z( [. I* G9 v% vso does it mean if E failed to pay D, 4 c& K$ I3 Z. m6 V7 ]' h
all the B,C,D,E have to go bankrupt?
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7 g* A9 _; q# c$ z4 q& X& Fthe multiplier just tell how much money created in a whole economy, 4 G1 |) ]5 t7 F: {, I2 Y2 Q
in this case it doesnt really matter how much money is created, $ N- ]! _1 {1 g$ _
it's the problem of the debt itself.
' b! ^4 }0 e6 w( U5 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
+ v3 I( X0 m4 T7 q7 [$ u! F小弟一直都唔明...
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. {+ }0 m" M% h, g4 A* g/ }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
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Thanks

, d! A) @0 o6 E- Y* m# e  x那些根本係 紙上財富  ) \$ W- X5 ?6 M7 a' K7 y! K
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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5 r% d% I9 i& g# Bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產8 I" C) x. G+ C( y- _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' `2 ?: J# l6 N2 h9 ~; V4 H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
' ?1 |9 o8 z) X/ j5 F% e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* c* |. g/ K6 s- D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 V) z2 K" [+ l/ X: V9 n5 M計番回報率就已經係50%,所以可以好好賺# k) e' V6 Z* G5 e' M7 z( r* N
前提係銀行之間要互相信任先可以咁樣借法3 v( G# u; r/ t) a& |& Z
同埋個市場既前境要係好先得
" t9 a  |: O5 Q但當經濟一差,公司估值趺了,物價不升反趺
& O2 I- ~) W8 a" e5 q6 n例如剛才說10蚊的, 趺到得番9蚊,
7 P/ [& O+ I3 O咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 d! f9 e% z7 @* K' t$ |所以你就會覺得D錢好似蒸發哂咁
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* r8 O2 L  h# B! g你都可以當標野咁諗, 個樣野多人可以狂升值,
" u, w- \+ y4 l% `1 E# 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, ; ~( O: J* n; W2 @4 i/ |+ u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( a" [. ]1 {3 p  |/ q7 v$ ]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
: G8 j; Y: I5 Q, F4 K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" P: P! f! x7 r$ ^( w% M0 z
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ ]& ], }2 Z0 h7 s. f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 E' E0 h' F* W. @" M1 w( H
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
) u+ K6 ^1 Y" W, s2 g' ^! d咁你話d錢蒸發左去邊? ...

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正係咁樣# ?7 R0 L! f1 X% 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$ O: x; E! k, T, i/ M0 @
分分鐘佢地唔使還錢. q2 f. p- U, |) h. |. C
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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,
# f: p5 e9 C# ~" r4 x連國家都係問人借, 不停發債券, 印鈔票! z6 ?' H( f% N' r& K8 t
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 ?/ [# E+ R* e1 x1 S6 b
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
1 I. }' ]& A) e# b咁而家"爆哂煲"算唔算先至係變番"正常"???

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, J) P' }4 ]# P4 h7 V其實係...
8 d" G. C4 w$ M因為以前未生產, 先消費: W; z+ k6 x- u4 g
而家就要多生產, 少消費