0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 a# B, e8 h* N( s
Why bank will sell 借據給第三者???" F5 I. ~8 Q* l1 Q/ z+ R
I was so confused.....

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5 d1 o4 @4 V& ^6 w* y講到尾都係賺錢+ ]: o* r. ]; y$ T( l
so銀行可以不斷放款! c: l0 o9 l. e2 t7 A# v
美國的房貸問題散佈到全世界
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mortgage loan 4 T, ~$ L5 @5 Y3 f: w
>conduit2 D) E! E. y1 b
>RMBS(Residential Mortgage Backed Securities)2 X0 B# d+ B9 g' j' O: |0 o
>arranger$ K3 y+ I3 ]+ K+ g
>CDO(Collateralized Debt Obligation)
3 X: m  P- Y: I最後去到投資者

Kev

i thought it is the reason of rate of return.
+ b  \" P+ ^/ |; A* bCDs could have different ratings, AAA -> F,8 T+ ?0 i( n" a* ]. j% I
more risky ones would have higher premium (interest rate) as a compensation for an investment.; [) p+ k9 W7 i' a# _( q) L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ U4 @" `7 V* V9 w5 ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." _' `" v/ @! G( \" B3 G* H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: g; u4 _5 D9 f
similar to bonds, CDs trading in the secondary market have different value at different times,
8 u* O% L' t, K$ V0 W; Dnormally the value is calculated by adding it's principle and interest. $ v* p2 l; Y& {% A9 h
eg. the value of the mortgage+the interests to be recieved in the future.
0 c! {/ g- t) x: f; t! \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.- E/ [$ [- b$ l7 [' ~
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im not quite sure if the multiplier effect does really matter in this case.
$ C8 s4 p& M  W1 u9 t; pin stock market, it's the demand and supply pushing the price up/downwards." s# R5 |' E3 y  j- g% f9 p
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! x* s3 r: J' D- Y4 _& V, `! \3 b& A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., v  g1 L2 o1 w, P
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. 0 _" M4 j0 |. w" t, v& F4 p, S
but the value of their assets did really drop significantly.% j$ i+ e; a% L# R. r- W, {

5 f* R6 Y( W, @/ z: 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: j# t  ^9 t! l& Z
Refer to last example,
% [+ P. P( O0 X& l* t! b( }that means bank A have no money because we borrow 10 dollars from bank A
8 ^! [# Q0 O* S8 ~1 Y- c( u6 cBecause bank A doesnt have enough cash on hand ; p+ ^4 D  F/ U, s: ?# z7 x
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 L9 D, M) D8 mA->B->C->D->E
( a0 h' P4 }. t% j" fso does it mean if E failed to pay D,
/ s+ O; m8 c' ]& ~' K& C$ iall 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,
$ |; _8 A' [6 b# j6 O1 ?; rin this case it doesnt really matter how much money is created, 4 w. x* r  X* Y' i8 K5 [
it's the problem of the debt itself.# L* {/ e3 W6 j3 {
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
$ z; O4 {5 a( T1 Q( S/ z6 }小弟一直都唔明...
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4 p! \& `. I1 q5 V1 C* g' [! \& _7 a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...( W: f4 w/ j1 M

( X: F8 X0 S, T6 E( Q+ Z& H. I敬請各師兄解答
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4 s. O# E% A0 @0 ZThanks

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那些根本係 紙上財富  ; c$ Y% j8 Z& V8 F' e& e8 X# n  [. m
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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% M7 J) K" n. W) H& |) uhttp://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 g- t- z1 b$ t" E/ A2 Q% A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; L; l! a# n& c" y/ _+ ]1 z
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 B6 D) R4 v) o' ^% ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 U6 I8 T2 Q6 J* Y1 i扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 D$ P7 o4 b, }* Y- e* R計番回報率就已經係50%,所以可以好好賺4 K. Z1 \; s7 ~
前提係銀行之間要互相信任先可以咁樣借法$ F( t: N8 |  U5 p
同埋個市場既前境要係好先得
4 X  Q, J% q. h! P+ c, B但當經濟一差,公司估值趺了,物價不升反趺
/ w. f9 A# w, C  j6 J例如剛才說10蚊的, 趺到得番9蚊, ( F. \, }( `8 Z( g# e
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ U% i2 H$ a2 x& ~- `. {
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,
' g. l% c0 J& f( ~' _7 @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,
; v% p9 M8 P7 [7 T. `0 |& F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + W5 U" t" s" X# A9 _; f% E% 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
# i$ |0 q9 C3 A1 D/ ]% W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" O7 f; Y$ I/ t' s* t
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
* \4 b' l* T/ W5 {* x" W6 ^( Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! ~  t, x/ Q. U" Q3 X" B
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
1 m5 @" N! K/ a3 [8 [9 t/ D' v咁你話d錢蒸發左去邊? ...

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正係咁樣
  Y9 i: c7 C" M4 h% `/ f3 ^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3 ]. k3 G% S4 H1 ^3 J0 F
分分鐘佢地唔使還錢! [3 h- S! d) y) Y8 ?" G6 x' ?3 N( w
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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,
( Y( s7 e9 k! z6 k0 z1 @連國家都係問人借, 不停發債券, 印鈔票
, y1 ]+ K4 L- e8 S% }. O( G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* k' E5 T7 ]) U; {! d
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; T3 l. g+ y$ u: o. F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.../ P- E# B  u# p2 i  Z4 D
因為以前未生產, 先消費0 |& @6 Z( A: C# s  M+ h
而家就要多生產, 少消費