0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 T( k! A1 _  y, b2 l# V# N$ dWhy bank will sell 借據給第三者???$ W+ n* P+ D7 t8 D( w  `
I was so confused.....

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講到尾都係賺錢5 c" T) m* T+ N$ @( O
so銀行可以不斷放款
3 x" z4 L' B7 D3 f( t) Z% [3 y* U0 i美國的房貸問題散佈到全世界
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mortgage loan " j1 @, v; F. y3 m" t+ I% X& O
>conduit
$ h' Y  G# o+ _% ~5 [>RMBS(Residential Mortgage Backed Securities)0 `; c1 X# A3 F6 u
>arranger3 O: r* X" l$ P4 q; S8 X
>CDO(Collateralized Debt Obligation)
6 k  Q# G  v2 l/ L8 _最後去到投資者

Kev

i thought it is the reason of rate of return.9 Z  b% D) j6 i" j/ x/ ~: L
CDs could have different ratings, AAA -> F,/ A$ D$ f" h( B2 B0 A  T) ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 X9 i& M5 v' lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: i+ [# s) u  e& e: _in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., ~) Y! Y7 D# Y% B  S  q) a
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 Z4 M; z+ g3 Y/ ~
similar to bonds, CDs trading in the secondary market have different value at different times,
$ I" }* b% s: wnormally the value is calculated by adding it's principle and interest.
: N: j, K9 C4 ~7 f3 C/ R9 ueg. the value of the mortgage+the interests to be recieved in the future.
: p# Y1 I% Z) b( B( tbanks 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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! O' y6 T1 g4 Z2 A& J7 nim not quite sure if the multiplier effect does really matter in this case.
) v6 _/ s9 Z$ O% \) M% P8 uin stock market, it's the demand and supply pushing the price up/downwards.! N8 c+ i# d$ T) N5 H! [
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 \8 M1 V2 u/ o+ `2 i
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- m: H7 `+ l$ Y3 j6 M9 G, u
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. " K6 D, z3 i3 I4 Y( o
but the value of their assets did really drop significantly.- Y6 Q$ h2 d  j0 a
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[ 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& ?" l* A, q8 ^7 e5 n7 Y
Refer to last example,
& L/ k( N2 c. G' F$ a/ s9 ?that means bank A have no money because we borrow 10 dollars from bank A 4 u0 I% H: U. ~6 R# x) I0 ^; y
Because bank A doesnt have enough cash on hand
5 h) [* j5 K/ n7 `therefore bank A need to be bankrrupt ??? Am I right ?? ...

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- d( e  d" V5 e, o8 }A->B->C->D->E
$ r$ i6 M6 B( Yso does it mean if E failed to pay D, + K" z: x  w! L6 v' @/ K) W
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,
8 C( V8 s& _, _& u( B! bin this case it doesnt really matter how much money is created,
9 U9 }$ j! i1 W" v* _it's the problem of the debt itself.
5 v- n- v% Q" Athe 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; N: M/ R+ p# }1 ]
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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無可能淨係有人蝕錢無人賺架嘛...2 k& x; q# u9 c' [5 l" ]! k; K
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敬請各師兄解答+ _2 H1 P! h$ C

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那些根本係 紙上財富  
% A' i, u5 F+ p( P5 h' p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 graphic5 Z' X* V: S5 R+ K8 B9 r( U

8 l/ q4 R9 K! {9 Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
- b1 L: {& D9 ^$ ?- N, H! X& v當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 c( P* J) H: b3 _$ W' i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4 i8 D+ M! V9 V% D+ v' E0 Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& m$ y* C4 A, c
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  u6 p# w! N6 B) @計番回報率就已經係50%,所以可以好好賺
! D5 w: {7 M  r) Z( f! M$ v前提係銀行之間要互相信任先可以咁樣借法
; o( k, x2 E2 t  a- b同埋個市場既前境要係好先得
+ ~+ [. x, ^) m4 r! Q/ S  J但當經濟一差,公司估值趺了,物價不升反趺
3 x( a+ ~3 p0 I- X例如剛才說10蚊的, 趺到得番9蚊, 5 z. Z( E/ |/ ?2 S# p7 P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 j6 l2 v/ K5 ~所以你就會覺得D錢好似蒸發哂咁+ a; J& K) w2 f8 r8 P

+ ?0 U  w& o" W/ S9 Q# v/ F5 l' `你都可以當標野咁諗, 個樣野多人可以狂升值, 7 S: e+ a' X, F2 k) L, d+ r' o
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,   R, d* \  q* v0 o+ E0 T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ M7 n: R: f, n) z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 b' K7 }8 S+ A, _: e2 ~+ `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/ G; b  l1 @; n7 v9 U' R
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" Z6 @: _. D' h# f& {0 V/ @* w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' T  F2 T+ P3 D( ]4 Y7 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3 q4 Y/ a& B5 ^- w4 [% m  q3 a' ^
咁你話d錢蒸發左去邊? ...

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正係咁樣
' h- [4 K, L: l2 l4 w( p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
% q9 `% O, ]8 k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,
# i8 v! p6 i$ T連國家都係問人借, 不停發債券, 印鈔票
9 k0 |+ ~1 b  @, R. ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ |) s7 b) t# m  v9 Z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
8 N: C" z- b0 B* N: ^咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
, Z. }% t( h7 A* q因為以前未生產, 先消費
" e! Z: g3 X! J8 f% s( `而家就要多生產, 少消費