0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  {: K. ]0 `4 ~; \
Why bank will sell 借據給第三者???5 s7 Q% [. y* d
I was so confused.....

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; v" b0 C: x6 E" P& p' b講到尾都係賺錢  P4 S) y7 X" m. p/ C* t/ e% B( D
so銀行可以不斷放款6 j7 e; i, f- I+ @
美國的房貸問題散佈到全世界
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mortgage loan 0 Y" \. S( c! t  ~! z$ k: p
>conduit
. ^. o( Q- F/ G+ y7 l>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
) X1 r1 h1 Y$ d最後去到投資者

Kev

i thought it is the reason of rate of return.
3 y# h; M+ R" }' K/ c# mCDs could have different ratings, AAA -> F,0 G. H0 V, }# u2 Y; H( X( _! s
more risky ones would have higher premium (interest rate) as a compensation for an investment.
) r$ o4 L; j  B! n3 Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% P5 t; p6 G6 m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ r5 t% P+ r5 q) t1 k' nAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. Q2 S- u' d5 Ysimilar to bonds, CDs trading in the secondary market have different value at different times,7 |6 B" Z- V+ s- ?: b8 Q6 k
normally the value is calculated by adding it's principle and interest.
+ X4 t3 N, G. j/ n6 ]0 {eg. the value of the mortgage+the interests to be recieved in the future.
. j* F1 v1 [7 a2 G5 t. [6 q* H7 b. Dbanks 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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; [: I2 o5 w0 W/ c7 wim not quite sure if the multiplier effect does really matter in this case.2 y; A- F. S. B- Y3 e* j
in stock market, it's the demand and supply pushing the price up/downwards.# o4 a( Y  c5 R9 p* N6 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 o2 J3 `5 W. |# A9 Z& ]% j+ S. ^
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 f* D" Q7 t3 N/ n5 D0 i4 LThe 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. 7 p  A* i& i5 _' H/ J: Z5 w
but the value of their assets did really drop significantly.
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: d6 |: }2 I+ U3 L[ 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.gif9 F- g* C" c3 m* F0 |0 u
Refer to last example,+ c& l* l( p6 N3 v
that means bank A have no money because we borrow 10 dollars from bank A   V! h, _- X- P. ?" k
Because bank A doesnt have enough cash on hand
5 V( |  o  j8 U3 Y% s) otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' L, h. Q: W) i6 iso does it mean if E failed to pay D, % R. \0 S% j- F& h& L3 B/ ^9 v
all the B,C,D,E have to go bankrupt?( F) ~1 B' M4 G( B

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the multiplier just tell how much money created in a whole economy,
$ O2 B1 ^& B* ]3 b3 j3 r% iin this case it doesnt really matter how much money is created, , ^( U) b* L# c" H1 s% D' q
it's the problem of the debt itself.9 R) e( B# z3 m
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.gif8 k1 v6 ?! j: {6 i, Q2 `' R: M
小弟一直都唔明...
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: y7 d6 e7 f3 O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...+ G& R/ G' b) [
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敬請各師兄解答% N( |1 O, J# W0 Y7 `  q
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Thanks

' I$ G8 P1 G6 B: x* T4 s那些根本係 紙上財富  
( L- v$ G- y: q( ~" u: [! {% G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: j0 j) ]' y5 R8 ?; a) V
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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, j' a  d# l# B1 z9 m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 K* b! ]( k' w, F2 b
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
3 D& N' L9 ^) X個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 e) B$ Y" V7 n1 C% h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ D! y2 |. E  S1 }, |7 S
計番回報率就已經係50%,所以可以好好賺
$ p% z0 Q/ `  Y" i2 J+ ]' d, q7 {前提係銀行之間要互相信任先可以咁樣借法+ @# V, f. G: }
同埋個市場既前境要係好先得
0 _2 z4 M$ v+ w$ F; k但當經濟一差,公司估值趺了,物價不升反趺; g" Q' I: k/ m) U7 z
例如剛才說10蚊的, 趺到得番9蚊, / A; t; }% w- q; y$ z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% p7 u0 i0 z) C. ]
所以你就會覺得D錢好似蒸發哂咁
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1 D$ t! w0 G" s& b0 g+ a- q4 K你都可以當標野咁諗, 個樣野多人可以狂升值,
& H  t: L" m* D6 B/ t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, " x  J0 E1 Y$ O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% J7 k, v2 S5 z& 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
7 [! S# S* i  F- E  A4 p! f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.gif8 D5 F9 D. m, u; p5 C5 i: ?: L
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 ^3 ~+ x) I2 R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 J% j4 P9 a/ G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
$ y6 g- x8 ?1 {3 A咁你話d錢蒸發左去邊? ...

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* `+ i* w. O+ _" E正係咁樣4 y8 \' k: {2 P- t/ ]; }
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
: b! @( P% `6 z( w分分鐘佢地唔使還錢) O1 v; e8 y9 O0 r$ `
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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,
' D; R6 z' C8 y連國家都係問人借, 不停發債券, 印鈔票
! L2 L, U- f& Y* O8 C* @# Z一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 u) d/ ]1 |, i- u1 K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- s/ B. {% K$ ^  Q8 _* d
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ V( c1 n0 s; X9 |& D- s
因為以前未生產, 先消費  w, g! ~' q# R" w" {- R
而家就要多生產, 少消費