0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& d3 b2 C: E: B
Why bank will sell 借據給第三者???7 l0 t0 k. b2 A  t% @, o
I was so confused.....

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* n& r1 T( l& @# j講到尾都係賺錢6 A* P6 l4 k0 ^
so銀行可以不斷放款
( x) G  T" x. S0 q" C, }2 S美國的房貸問題散佈到全世界2 l3 z+ y% k0 X

* Y1 U7 d) s9 I5 u' V# q* amortgage loan
4 K" M) U2 y* w( r, S- P+ [2 g/ d>conduit
, n$ k5 [' a- N( M>RMBS(Residential Mortgage Backed Securities)9 u* X- v- _9 A5 U- i7 _
>arranger
8 e' b- K3 Y' n" x8 l+ h7 j( y>CDO(Collateralized Debt Obligation)
! b" P) M3 Z% t2 F9 u  c最後去到投資者

Kev

i thought it is the reason of rate of return.
5 g1 O# D) [0 v0 h) W2 ^CDs could have different ratings, AAA -> F,) N/ o" F2 g! Z& I0 f
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& T- t6 \5 K+ a8 T+ ?& o+ h" {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# U8 L7 W1 C+ _% P( \) kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 a  g) @" v& P! Z# C2 l9 MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' y( C% B; V0 G' B' P3 n* w
similar to bonds, CDs trading in the secondary market have different value at different times,
! D( N, m" Y# wnormally the value is calculated by adding it's principle and interest.
+ t& r- |# G3 L6 w0 zeg. the value of the mortgage+the interests to be recieved in the future.
: P) n: Y# |' V4 A5 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.; Y0 q/ q0 `* k0 ?2 K8 f
in stock market, it's the demand and supply pushing the price up/downwards.2 G: r1 A3 e. ^& h1 o1 r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 b8 P9 w2 Y+ {
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 s4 s2 A* ~2 x+ }; v: dThe 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.
6 e( I; p) n% q/ ~& nbut the value of their assets did really drop significantly.
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2 W9 Q4 ?$ A6 i- j- M2 y& r[ 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" `1 A! G. f% x. p' w
Refer to last example,2 R/ `0 m. u/ Y# v8 n8 E3 W  ~
that means bank A have no money because we borrow 10 dollars from bank A : \5 u$ n2 u* _  S) i
Because bank A doesnt have enough cash on hand ; ~" R2 u! K; y7 X7 X4 S( f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
5 U8 Z* q3 W; L* w' u% `0 Vso does it mean if E failed to pay D,
  s$ [8 N4 f4 ?3 j0 K2 aall the B,C,D,E have to go bankrupt?( k' s; ^- L3 W  b

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the multiplier just tell how much money created in a whole economy, 4 r5 M8 e+ B% ^7 G: M
in this case it doesnt really matter how much money is created, 7 D+ r0 C0 s. l% b
it's the problem of the debt itself.
; v& s& B9 E/ F; M/ Wthe 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.gif0 r$ }2 w" P  X/ [
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...$ |# g; g+ ?8 ~' C- E7 V7 B- k
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敬請各師兄解答
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( j) d2 [# E# s# \Thanks

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那些根本係 紙上財富  
# ]9 [- P, G+ |- q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 graphic2 v, ^5 ?, _0 r, @, ]6 v" o7 ^6 {

& |( T8 X$ Q3 q' E- T3 `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6 w  a9 D# z; G# f. o) j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( Y4 T: o* n$ n2 z1 `- K* O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, d/ R5 w* n% f2 y8 {
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; a; R( g6 z# u- j) X. V/ F( Z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 k* i- U# ]0 L& j' x: f, m- o計番回報率就已經係50%,所以可以好好賺
( [- l9 c8 n2 ~, S# k+ s( M( b前提係銀行之間要互相信任先可以咁樣借法& P# c& C; g, a( c* y% P0 {
同埋個市場既前境要係好先得
; h/ q2 c- Q" ^; A* a但當經濟一差,公司估值趺了,物價不升反趺
( r2 u9 M/ b1 S9 H' ^  U例如剛才說10蚊的, 趺到得番9蚊, . f; y) N- G1 a4 Y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 C( x% d4 V7 g; b. d, w' ~5 C/ _
所以你就會覺得D錢好似蒸發哂咁4 ^( L# N; q+ ~' ~+ S9 m6 ?
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你都可以當標野咁諗, 個樣野多人可以狂升值, ' O# @5 u4 f6 Q
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, + H0 {( e- R0 D, y+ [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   r, N6 P9 |  |/ i; W  C  g4 O
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; A1 q% u$ J2 @# L5 y9 R3 C
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+ ^7 b- a% E2 J; H; g$ _5 R9 `
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 K) B: n6 e! ~' d/ k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 G( V: H$ N( l: J: Z/ M  V1 J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! r+ w' G4 f* [2 q( A0 v1 o
咁你話d錢蒸發左去邊? ...

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  ^* l: S* V0 G8 S# c; g正係咁樣
2 r: m+ d) r+ Q0 F* T. Z& N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& L4 C& q* R0 P& p# T# l+ o% N
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,
" _. ?3 w! X0 u1 _% F連國家都係問人借, 不停發債券, 印鈔票
( x" @3 d* r1 U1 D) u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' d1 D1 x( B8 A" N8 \0 H! R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( o) y3 [. i  H. n& v% V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...7 ?. a7 `7 Q0 Z6 |
因為以前未生產, 先消費% W: A- }7 h3 i% ~6 p8 Y3 W
而家就要多生產, 少消費