0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& F4 \$ x7 f9 C. ?; i$ b4 k8 QWhy bank will sell 借據給第三者???7 c" W- ?: C- Q; i
I was so confused.....

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講到尾都係賺錢9 `( {# }6 m2 u; @! b5 Y9 {
so銀行可以不斷放款
7 B3 Z- P( Y. X7 F- w美國的房貸問題散佈到全世界
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mortgage loan
% o5 g- K0 P5 q>conduit
5 [/ e. A% z4 v$ q>RMBS(Residential Mortgage Backed Securities)) d/ z! n, ~! N' K6 h
>arranger4 i# u" j3 B' V% B4 b( e- a' _: `
>CDO(Collateralized Debt Obligation)
' H  k- g( X  l6 M; b3 ^最後去到投資者

Kev

i thought it is the reason of rate of return.1 B& [! H: G7 m' W+ t& i
CDs could have different ratings, AAA -> F,
2 F( K& x4 N& o( f8 a! K" d3 R6 x5 Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
: k' p$ K0 j5 J1 r+ e% n3 V2 R& Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ J. t/ [' }; p
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 k# N# p* M7 s; S1 W5 I1 [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 H8 K7 T+ U. u' s  U
similar to bonds, CDs trading in the secondary market have different value at different times,3 Z, Y6 L- \, v5 E: p' x
normally the value is calculated by adding it's principle and interest.
0 {1 r/ W) f( j1 M) zeg. the value of the mortgage+the interests to be recieved in the future.
6 X# F" F' O" Q3 c% v6 r+ i3 obanks 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.
2 E1 b! \1 S( k; k& ]/ Y; ein stock market, it's the demand and supply pushing the price up/downwards.
) T9 W( D. r) ~( xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; ~- j% i$ \: w7 o7 v7 ^+ P: bA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 A9 `6 S, Y0 ]; K- N* S0 U' ?; f# \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.
* q" s* J2 u7 f3 k/ o/ s1 `+ Zbut the value of their assets did really drop significantly." e5 U& _0 L1 G& H. a5 G1 G
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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.gif3 x; b+ @4 E  B2 a8 u
Refer to last example,  j: c' O; t+ o. m8 r: \
that means bank A have no money because we borrow 10 dollars from bank A
' D7 }( R/ q- U) o. bBecause bank A doesnt have enough cash on hand
4 }1 J; Y# b3 }6 c6 y! x4 ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 \) j3 o: U) c  y; {A->B->C->D->E
+ N) O! E" T# Y- K% s6 Tso does it mean if E failed to pay D, 5 K1 t# V' W" I) n: G; g4 Z/ j
all the B,C,D,E have to go bankrupt?7 O% Y# t1 r) J9 `1 ^* g

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( M/ ~4 l" Q- r: v! G; e, uthe multiplier just tell how much money created in a whole economy, ) ?- |; W" H7 S3 C8 V- Q9 g; u
in this case it doesnt really matter how much money is created,
6 A  X6 q) m7 q* l6 git's the problem of the debt itself./ x, ~" I* q, E
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( a; i% a  }$ E8 Q4 G
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?/ L) m) S  ?0 k, O. l# p

8 e4 g$ k5 Z7 n. [1 _, c" r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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' W) d" A7 x, A* @6 g; nThanks

; H; H0 o+ Z5 [* V: r$ P. W% w# |那些根本係 紙上財富  ! H# `7 H. R# k# j! w
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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( T9 Z! G8 I4 E1 {3 J0 G5 ^7 r, [8 rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
) w# g6 O( V' o. d& W6 I6 ]/ S) }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 h- y2 ]5 ]( {& x2 z# K6 Z1 U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 Q$ O! v) s+ h$ J1 N( e, S" l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, T% @1 E+ x( q  u扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" G  q4 I+ C/ ?. {: U計番回報率就已經係50%,所以可以好好賺7 `$ h2 N' Z: D6 G! i- M
前提係銀行之間要互相信任先可以咁樣借法4 F# U. K( o$ d3 h4 m
同埋個市場既前境要係好先得* w  p9 @0 T" \
但當經濟一差,公司估值趺了,物價不升反趺+ p- B7 ^7 u; c% W- J9 |! ~$ f
例如剛才說10蚊的, 趺到得番9蚊, 0 [8 j& _" h! P: V
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 ^9 p/ B& ]' h1 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,
" ~, I- L8 B% k+ t2 m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,
, n8 I# I2 Y4 }" s/ e& l. m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& P: g8 ]% E) m( c" E# g( x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
, b# Z0 m/ T8 i+ C. E3 F# ^' e& M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.gif1 A4 T2 ?5 _! p, q" O* b& a, j
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! o2 \: D* m3 g淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % F+ h: v6 Z( L! A) D& j. B% {- O$ i
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$ V8 \3 y: h$ D( F
咁你話d錢蒸發左去邊? ...

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# H9 x+ n6 x& X" M正係咁樣
- Z2 E& m! y- O+ d  I$ i' _# r! d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$ r* T8 H' u+ s# z' K* k9 t6 T) j
分分鐘佢地唔使還錢. w( i/ G/ P! c8 y
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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,) G7 B: X' [! S2 q- E
連國家都係問人借, 不停發債券, 印鈔票! z- y( w9 b! Y% ?1 x7 B  S$ l
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
5 V+ ~# ?; E, q! 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
6 u* Q. |6 v. H1 G咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 m% P6 A9 R0 f' S- _因為以前未生產, 先消費, M8 t, U( U) n2 M- `  B" z
而家就要多生產, 少消費