0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 S  f. o& O  _" G  o" eWhy bank will sell 借據給第三者???- l: R2 f$ G/ @8 M, i! i
I was so confused.....

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! f/ v3 _) l  I; U# ]* ?+ j講到尾都係賺錢
8 b7 P  U) {4 Oso銀行可以不斷放款, Y, M7 R$ Z+ D4 n
美國的房貸問題散佈到全世界
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% c" j( p! G" Kmortgage loan
2 j, ~7 [$ p* V( A5 z6 l4 ^3 Y! [>conduit
+ K9 x. r% |% J) c>RMBS(Residential Mortgage Backed Securities)$ F3 b  a& J. Z" t, s, _
>arranger
& O5 _( f, W, D! d* E% n>CDO(Collateralized Debt Obligation)# a7 B+ R! m, q1 D5 ~% j6 x
最後去到投資者

Kev

i thought it is the reason of rate of return.5 q: n- n) k3 q0 N
CDs could have different ratings, AAA -> F,
1 o) {; P% o8 Q8 Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.1 `6 T# T3 i: U" d  s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 C1 P* U) x! y. @6 T4 V
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 b+ Z2 T/ N4 x: G. |$ F: w; LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., r" j5 P9 T& B- W
similar to bonds, CDs trading in the secondary market have different value at different times," U' `* N$ {$ G9 g! t& t
normally the value is calculated by adding it's principle and interest.
5 ^% n; S9 u1 J3 Veg. the value of the mortgage+the interests to be recieved in the future.
4 j' \0 Z! O* _& d* g/ N( 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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im not quite sure if the multiplier effect does really matter in this case.
- _) w4 g1 w( x* U8 g3 T) ]  X  \' a! Sin stock market, it's the demand and supply pushing the price up/downwards.. X, ~2 W* r2 v6 S
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 A$ @9 K8 j! x6 n
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 I8 k4 ]8 [/ R9 qThe 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 n8 v  V: f( Q7 h
but the value of their assets did really drop significantly.3 f/ {& y) I* u, Z* A5 {

1 ~( k  s7 R7 E: T: T7 o; a1 H% W: j[ 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
+ S/ S7 F  \' U* RRefer to last example,5 [+ Q. t* u2 y) [
that means bank A have no money because we borrow 10 dollars from bank A 8 r- J2 h3 z3 `& b
Because bank A doesnt have enough cash on hand 3 ~; g  g% j, V7 H1 u, C' T6 Y! n& h2 |
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 M' S) {" U2 ?4 N8 nA->B->C->D->E
' o& ~9 m) m0 Mso does it mean if E failed to pay D, * ]" F1 V* ~$ ?9 p
all the B,C,D,E have to go bankrupt?# d$ \, f8 U: S! Q% ]  x

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the multiplier just tell how much money created in a whole economy,
+ U% W' d& t/ _% n2 P; Zin this case it doesnt really matter how much money is created, , o; g3 S' o" {' o5 o7 A& N6 G
it's the problem of the debt itself.
3 p8 h1 J0 |8 S; d, Gthe 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. D5 s) q: r1 f) a- C4 B
小弟一直都唔明...1 N: L8 S- Z8 \. f$ h% C

3 v! b( S* v% p* W9 U! ^$ u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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: r: a" |5 r+ q3 {4 ?敬請各師兄解答
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+ S( X. M  m5 [6 D, N0 R. u( {Thanks

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那些根本係 紙上財富  
2 @* m  J7 M# R7 i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' w9 F1 ]" B/ K, h$ B+ U8 O! k" A* f) Q- s
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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
- M& {9 e' P& M. g# m$ A( l0 M當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 ?! U" l3 U% {. ?. W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  o9 K: U& @% Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: L  F5 h' T; s9 \
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 J3 X$ S* I, q/ v計番回報率就已經係50%,所以可以好好賺# _% t6 F  Y* p: A
前提係銀行之間要互相信任先可以咁樣借法
8 R7 k( D* D7 t同埋個市場既前境要係好先得! _4 j; m' C; J: B/ @; ~' q! d9 d
但當經濟一差,公司估值趺了,物價不升反趺  I2 P0 [! i  q0 S2 v- e
例如剛才說10蚊的, 趺到得番9蚊,
( i5 p% t; v, Z6 e* g/ p: T咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 k" g: e! W2 R6 N( _, v所以你就會覺得D錢好似蒸發哂咁% @6 k; v9 g1 \: n$ R+ ?
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( n: e& ]; V6 m8 u" I( c
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, 4 S  `8 X8 n  X- }/ z6 G) B- C
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # u$ `, _3 n6 k5 j  B# V( i! ^+ S+ F2 D
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
: c3 e$ f6 Z% l6 \( d! s0 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.gif: q2 }. n  w4 z0 |) N; y* Y- Y1 r
唔係d錢蒸發, 而係比美國佬洗晒未來錢, , y7 o9 x. u; P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ l# j# v4 Q# Q) h/ `' G7 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: M# _5 J5 a; z- f
咁你話d錢蒸發左去邊? ...

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正係咁樣
; N% g8 _1 t: H( a& A3 b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 Q+ Q1 K  Z6 Y+ ]
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,9 w/ s4 {3 h6 @
連國家都係問人借, 不停發債券, 印鈔票9 ~% K4 F; X# B" y# ]6 ?
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 }" H) X: m! U) i/ n' r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.gif9 z/ c# B; m. [% c6 T0 ^+ A' H" Y/ ^
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
6 [9 D2 ^1 ^1 q# `$ W% S" G) n* U因為以前未生產, 先消費" _) Z8 [4 S5 O
而家就要多生產, 少消費