0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% B$ o% h6 i3 J# f$ E
Why bank will sell 借據給第三者???) P: T( W' {" B/ z9 y$ D
I was so confused.....

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講到尾都係賺錢8 d( h1 m1 d5 L! j6 K) y, H
so銀行可以不斷放款3 q- C* |; w/ t; m0 ]+ L
美國的房貸問題散佈到全世界
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0 X9 E7 G" e: v1 z' ]) J2 u% mmortgage loan
/ q+ N& i9 p6 k" p! x0 j6 h>conduit" e. m: x( a  C& ?: N$ F
>RMBS(Residential Mortgage Backed Securities)$ e9 J9 U  e5 u  Q
>arranger; X' n0 T+ x: e; b; s
>CDO(Collateralized Debt Obligation)  z0 z1 O' x. C- ?% b, z
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 X( S3 k9 x$ |# O& A+ ^CDs could have different ratings, AAA -> F,5 S& X$ S. g/ R& _) M$ W2 ]3 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, D1 u$ m- {2 ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' ^9 z5 y- p1 R( B9 ^- |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 [! g9 e- q5 g' G1 S- l) M+ T
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( _! K& y9 h3 {" asimilar to bonds, CDs trading in the secondary market have different value at different times,
0 `. x5 _9 J3 @$ N' \$ Mnormally the value is calculated by adding it's principle and interest.
; h! H6 v/ v# f- d) Yeg. the value of the mortgage+the interests to be recieved in the future.
5 k: }5 Q4 |8 {9 ]2 [banks 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.% `  |# I9 I* m7 v

3 o* {5 A6 d4 Z& `& jim not quite sure if the multiplier effect does really matter in this case.0 N, F/ \4 q8 u
in stock market, it's the demand and supply pushing the price up/downwards.
) b9 f# T. H/ S6 w3 G% ?0 S; HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 w9 s! n% ^; [" i( k! Y, KA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! m6 _! \- y# t/ Q! s2 E4 u" |2 L
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.
" D# x) Q8 T7 W  [7 b, xbut the value of their assets did really drop significantly.
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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
/ P4 v4 R: @+ }, A% A* n0 Z- tRefer to last example,
+ O0 ^+ c7 M" x& V2 ythat means bank A have no money because we borrow 10 dollars from bank A
' z/ o# Y6 x% l6 yBecause bank A doesnt have enough cash on hand
# _0 R' {. O  d% s5 O; vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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" H! o. a+ Y; ?" O! A8 RA->B->C->D->E
" u+ ]! f7 A0 v5 Qso does it mean if E failed to pay D,
/ @) P: C3 ]- k- g' f2 {8 uall 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 p. f" q# k$ M$ r8 B) W9 D2 Din this case it doesnt really matter how much money is created, ) Q7 w/ G3 r1 ^- w3 @% n- R3 N
it's the problem of the debt itself.
) k: v8 g3 M* s9 C, ?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( `3 |- ^) M9 Y4 y" v
小弟一直都唔明...( H1 t1 t2 k" C# A9 u0 {6 R3 L* ]

/ B/ [  o6 E! X8 L全世界都蝕錢，咁邊個賺緊錢呢?/ @+ S" _5 C% Z" N! c

. j( s" K; t, g3 \+ n0 n無可能淨係有人蝕錢無人賺架嘛...
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  }( w! Q7 v2 \& G3 b# G敬請各師兄解答
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那些根本係 紙上財富  
5 d. Z' a8 f" Q$ H# W, v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- B( e! Q( Y) E# R1 d
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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
! D; A+ I! b- x7 B! B當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% c6 d+ d5 `* H$ }+ N' N, l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8 L5 F6 T, W/ J' c. _
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 K4 [" _, Q9 P8 {- J! ]) P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: O; U, ^5 q# n8 N計番回報率就已經係50%,所以可以好好賺
1 ]) L$ f8 l# z8 D前提係銀行之間要互相信任先可以咁樣借法1 n* E: y( {9 g0 B9 T- o; E
同埋個市場既前境要係好先得3 |6 o7 k. F4 v0 }
但當經濟一差,公司估值趺了,物價不升反趺
* k& [. i* q* k& l' n% Y! X例如剛才說10蚊的, 趺到得番9蚊, # p) P9 _! ?$ s2 [0 G3 }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, J4 H" D! j; }2 |
所以你就會覺得D錢好似蒸發哂咁2 K, X6 _0 }5 X, w0 r

, u& r) e! I# y; W' @1 R你都可以當標野咁諗, 個樣野多人可以狂升值,
7 [* Z% K9 ?& S& p& E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 l3 Z: i6 n2 D9 m  d2 Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 C/ X+ @# B8 q
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 z+ B* Z5 }! h3 [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.gif0 k0 C) L! ~. b8 z9 m1 u
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 J7 g3 y5 j" m# K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- M/ U, L/ i, V8 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
3 g8 u2 Z4 V2 J) W咁你話d錢蒸發左去邊? ...

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( O$ B! E& ?8 B" C4 l正係咁樣. g7 u3 P) j/ T3 c# a
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! z# T: E9 V* j8 b" l# @5 V
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,8 w9 z; I" U' u9 g  ^  k: N
連國家都係問人借, 不停發債券, 印鈔票% K! q; o# x  C/ q9 r% V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! ~, ]/ Q+ i2 @# \0 v! ~
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
% r" Y8 y( I! m- D0 |咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 s8 e9 n# S3 X+ a! w/ m4 @& y# b, [1 d其實係...3 U) C9 z" c9 a( z7 R8 s
因為以前未生產, 先消費
; Y2 q. B3 E* K# T/ J8 J7 `而家就要多生產, 少消費