0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 B" P; R# Y+ n
Why bank will sell 借據給第三者???
: U! I& f. L0 p+ g  VI was so confused.....

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講到尾都係賺錢; W0 Y) f- q( |9 m4 p
so銀行可以不斷放款8 L1 m. M3 q8 r  @- a
美國的房貸問題散佈到全世界
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! s+ k1 _2 M. L2 k& mmortgage loan
4 l) G9 X1 b. s: F# e) E>conduit
5 b  f+ |# z+ s+ J' ~>RMBS(Residential Mortgage Backed Securities)( t/ g* t7 t5 v
>arranger4 O/ O0 |8 E4 s/ Z9 }2 T
>CDO(Collateralized Debt Obligation)
& Y1 O( J& t$ z0 c6 V! F# A" b) n最後去到投資者

Kev

i thought it is the reason of rate of return.: c2 p  u: l, z$ g4 r/ D1 l
CDs could have different ratings, AAA -> F,/ f" B, ]/ f. D% _
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 a" ?; e& v' N( E- e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 D  I" ~# v" Z  j& n; din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( ?& v; j' R$ v" fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) }4 f7 ~1 g2 X+ }. y9 G/ w
similar to bonds, CDs trading in the secondary market have different value at different times,+ u9 N7 B9 [9 [- d
normally the value is calculated by adding it's principle and interest.
+ b" T. u$ d! Ieg. the value of the mortgage+the interests to be recieved in the future.
7 j8 k  U) d0 L- S7 m" b( 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.( J: d7 X$ }* G& ]# k
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im not quite sure if the multiplier effect does really matter in this case.
& R5 w" O5 O' ~" ~! X7 ~in stock market, it's the demand and supply pushing the price up/downwards.
+ B3 o5 @, b' P: B- A' JFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: _; `: |2 G' a" L+ Z6 \- C8 B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 d3 }: G/ m0 j' b  jThe 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.
/ a- m" |# {+ W6 H* b9 o% |4 zbut the value of their assets did really drop significantly.
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3 I# r1 C5 H. G' ]/ w* O[ 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) G1 a; T5 t9 Q: m7 a
Refer to last example,* m/ x0 l$ a& K
that means bank A have no money because we borrow 10 dollars from bank A
9 U6 y, L! v. f/ f' V: I0 R8 OBecause bank A doesnt have enough cash on hand
% M, t1 L# O1 L3 o  O8 A5 `therefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 Z4 @, R- }9 `5 V7 t  lA->B->C->D->E& J0 v( Q6 D/ t. Y. V; d$ i+ h! W
so does it mean if E failed to pay D,
6 ?8 S( o9 z' M% c) w) E; B. \) ?all the B,C,D,E have to go bankrupt?7 d2 |1 X2 p4 R3 \: G

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" t- @3 U0 c( v2 P$ ^6 Ythe multiplier just tell how much money created in a whole economy, 8 o( g% g/ W' x- g3 }  P
in this case it doesnt really matter how much money is created, 1 i, j! Z' J0 E6 t. v: @- R( N
it's the problem of the debt itself." F, v0 O* _/ z
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
- P3 X$ ~6 l6 v% i( B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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, ~1 T) j/ j& S, K0 u& b% N0 z6 D無可能淨係有人蝕錢無人賺架嘛...
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/ m% l, R) m; n. ?9 V( F8 w敬請各師兄解答; R! `- y. n2 A4 w
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Thanks

3 D  a- i: r) g, R$ y那些根本係 紙上財富  
2 w& n2 U' R7 U/ Q3 d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  y" ^" x5 D! o- G- ~$ t' U8 E
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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
/ C4 w2 A; w8 p, d7 a- T, z, i1 i當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& e, s# R1 D: r0 L% M
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
  L$ c* k, D0 c個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; R; j! V2 ^( q: V
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 P: W% A, Q9 A4 i: p
計番回報率就已經係50%,所以可以好好賺
! T) h' i4 s0 A# i2 t. R' g前提係銀行之間要互相信任先可以咁樣借法) [% {& S' X1 E" p
同埋個市場既前境要係好先得
2 E6 o* m7 W7 r4 u: c8 c3 m3 B* P, n但當經濟一差,公司估值趺了,物價不升反趺
6 N2 Q( m3 p: Z- k$ ~) w例如剛才說10蚊的, 趺到得番9蚊,
6 x* i" ~2 a# I, c咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 K; t- y: e# R9 I$ M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, 9 W* l" y' x: T/ X* 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, % A7 U6 g! E. O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 p0 W# c; W' O$ P3 M  W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: r, F/ p* Y$ q) L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.gif7 |2 F, k6 K& a. x3 s
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - O& U" s8 I8 T! j, `( v9 I' c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( e% E: ~' a5 L8 ]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
; O2 e6 D: d% H/ j咁你話d錢蒸發左去邊? ...

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正係咁樣, _9 \* E% ]: B2 [: Z0 N
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
4 g# s5 \" F8 F# a6 p$ T6 j分分鐘佢地唔使還錢2 n3 A# _$ n$ R$ l4 ?8 N

' |1 S7 F8 Q& H& Y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,
$ m9 X! B3 a0 [連國家都係問人借, 不停發債券, 印鈔票
- {- ~% V* g* b/ x, E一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: S% i" X  [* |, h! P; ^- i  M3 N$ K% 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.gif0 H) N$ Q7 A' c- Q- I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ z" K; G  @. U9 W& O9 O, g% p* o其實係...0 e9 Z( H, S+ w# [
因為以前未生產, 先消費& d' R5 {3 S* i+ f) L
而家就要多生產, 少消費