0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' f1 h+ S3 T0 E' }! h* m
Why bank will sell 借據給第三者???5 w" j4 J) X7 F/ E" K0 c. W
I was so confused.....

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講到尾都係賺錢9 P) Z6 e% Z$ H
so銀行可以不斷放款
$ d( y) Y  K# `, ^美國的房貸問題散佈到全世界! ~0 {5 F6 M) y0 I% L
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mortgage loan
  F9 |: w, Y0 ~+ j/ d/ m: {>conduit
# w; Z' A" x2 f+ {. s>RMBS(Residential Mortgage Backed Securities)0 R9 ~# u; b: x
>arranger
3 D# z! `: ]) W& b- I- C) f! y>CDO(Collateralized Debt Obligation)
' I  @3 _4 J3 l- c) `: y最後去到投資者

Kev

i thought it is the reason of rate of return.5 k; @3 n& N  B9 O
CDs could have different ratings, AAA -> F,' s- d* d3 ~- r" O3 Q) F( H2 T
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, Z6 R+ f9 b6 V$ y4 Z5 z/ Y  K+ smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( k, L# {3 ~3 E4 {7 Q) k# ~0 o- Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ ?- j$ {4 n* U; w4 d
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., F- G) c0 v7 m+ b- G* X7 F# \& V
similar to bonds, CDs trading in the secondary market have different value at different times,
' R0 H: u, C' U: A! N- Pnormally the value is calculated by adding it's principle and interest.
& t; K( ~4 b$ l* V4 r/ u5 xeg. the value of the mortgage+the interests to be recieved in the future. 0 n" ~; p) B4 d7 m/ R4 H
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.
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im not quite sure if the multiplier effect does really matter in this case.
+ K7 N! [4 y* Y  P' [/ bin stock market, it's the demand and supply pushing the price up/downwards.
. }: Z+ m5 W, O& n; F+ N1 y4 N$ [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( K( _3 ]7 @7 d, A0 sA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ `3 x3 Y) Z6 s8 A$ {- B8 Z  JThe 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. 2 _& I8 i3 H$ Y& k9 C5 V
but the value of their assets did really drop significantly.* B6 U' ^8 Z2 A0 ^" V
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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.gif4 V* \5 ^0 j  }# t! p4 c$ w8 a$ d
Refer to last example,+ x5 u  j/ k1 |! J3 r
that means bank A have no money because we borrow 10 dollars from bank A 6 t, M" V' ~3 v
Because bank A doesnt have enough cash on hand & F. w- l3 S0 e( v- C* z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E& m& z& v6 k9 V+ K/ Q" i+ @/ W
so does it mean if E failed to pay D, ( d5 c% U$ w9 j
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, ! d0 J; N# Z+ y) b# V
in this case it doesnt really matter how much money is created, ; _6 W9 i' `/ W
it's the problem of the debt itself.1 }  N. ^8 A6 m. {7 a& H
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
/ @9 f' w% c; m# x, l/ g, k/ @' E小弟一直都唔明...7 ]' c/ F. J% C$ I' h2 [3 G
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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...7 v" M6 d6 M, i- b
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敬請各師兄解答" O( `: d2 }# P1 B

1 K- U' a5 b3 m2 t! CThanks

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那些根本係 紙上財富  1 {4 a: E5 J+ a; y3 x+ N1 ^* q( 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 graphic0 {1 T, {+ y4 F2 ]6 h' V7 L$ t
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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
' [- J3 \, g5 g# E2 l3 c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ C" W( N) j% z' o' J7 G4 s
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
9 R- j. H8 |4 h& A' Z* x7 i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: w3 b$ V) s+ \扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" C; X9 v+ p' ]) Q6 h計番回報率就已經係50%,所以可以好好賺; j+ B! X- u. D' J& _7 F8 B
前提係銀行之間要互相信任先可以咁樣借法$ L6 ^* w0 @+ g/ t5 q, W
同埋個市場既前境要係好先得: P; e4 n  n" r& X4 R, n
但當經濟一差,公司估值趺了,物價不升反趺4 B, d4 i9 I. n7 _, F
例如剛才說10蚊的, 趺到得番9蚊, - t% S3 N  {6 P( Y* E% k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ E% O4 u) E0 A) s
所以你就會覺得D錢好似蒸發哂咁
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, i2 O$ w/ j: d( a5 i5 e3 N你都可以當標野咁諗, 個樣野多人可以狂升值,
0 u; m1 C5 @: D2 B9 j, 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,
0 j. G! m( C) s9 |) E5 p1 o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 c% R3 S5 J% n! E. j3 S2 @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
4 @* Z; K% C2 `3 C7 q! u4 b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: B9 \) L$ i, T* q$ v
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! e/ E/ m8 Q$ |  ~6 F+ w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) S; U/ m/ b3 X5 N
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8 X( d$ R5 A' A6 f! v
咁你話d錢蒸發左去邊? ...

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0 M, a! @' `$ u# h正係咁樣" Z5 }  v, X" Z
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, J  `  }, m2 B' b分分鐘佢地唔使還錢
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9 {+ ^" G5 q2 X. z; m7 I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,
1 l4 g" m, |8 B$ [連國家都係問人借, 不停發債券, 印鈔票
8 }6 g$ B) }+ ^' l3 }4 q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ d2 Y6 w, m" `5 Y( A' Y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) L! }2 Z; [7 _$ r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...* S1 k' w% v7 r
因為以前未生產, 先消費
* @+ S5 e- ~* `8 U+ n! L而家就要多生產, 少消費