0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# x  r) l7 Q3 C& l0 B5 bWhy bank will sell 借據給第三者???1 L5 |# a$ y4 U1 p/ k+ O0 H  b7 G
I was so confused.....

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& N: Y! l, w/ N1 Z+ X2 x講到尾都係賺錢; Y- z3 n7 X% C% L  ^  }
so銀行可以不斷放款' N. U+ x% B5 n
美國的房貸問題散佈到全世界) |5 T1 x; W5 o* Z. j
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mortgage loan 5 r& S0 ^5 [& B% _, a+ x% k+ D6 w5 ]
>conduit! o* O, y8 }" n3 K: x0 A
>RMBS(Residential Mortgage Backed Securities)# Y, O3 m" Z/ F. u. Q
>arranger  Q, N0 l, F7 {6 u7 h
>CDO(Collateralized Debt Obligation)
& B2 B0 M# u- ]$ c+ ^/ n最後去到投資者

Kev

i thought it is the reason of rate of return." K; \: i& N* n1 o. D
CDs could have different ratings, AAA -> F,0 o5 n' E1 l# i5 Z% E( e
more risky ones would have higher premium (interest rate) as a compensation for an investment.  L# n/ m0 j0 u
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 j- a" A$ p* I/ e3 @5 [: b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 h/ l: A" D3 Z8 X4 S3 M
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." s6 K  y9 D# X1 N
similar to bonds, CDs trading in the secondary market have different value at different times," m0 _' i, \" j
normally the value is calculated by adding it's principle and interest.
  k/ T! R0 w( o" ?: k3 z7 peg. the value of the mortgage+the interests to be recieved in the future.   }$ P* A$ o" J
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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; G, n2 P) B1 {0 r9 o4 wim not quite sure if the multiplier effect does really matter in this case.1 z! K* |1 e4 [
in stock market, it's the demand and supply pushing the price up/downwards.- o( N3 Y5 G; n
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, G  f: u" u. B6 x  j0 B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 j9 w! }8 j; K1 V3 c" @
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. 8 N# u! ~% Z  z
but 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.gif8 \( [9 K  m2 L: \7 o1 q+ o
Refer to last example,1 X) n- @7 L. V- P" h
that means bank A have no money because we borrow 10 dollars from bank A
5 s# q. M: R4 f# BBecause bank A doesnt have enough cash on hand 0 j* l; W$ U! M/ ?' {
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; t4 J8 ^6 {' `. r! z3 t2 }: ^
so does it mean if E failed to pay D, * h( K; x" B4 K- n7 C' k: I1 N
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,
) o) L$ n4 t* b) Cin this case it doesnt really matter how much money is created,
' F; g& ]) K1 uit's the problem of the debt itself.' Z4 X1 e7 b4 g7 S7 W# O
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
! n3 g, i  }5 t9 m  j小弟一直都唔明...# g4 x! V- E1 n# U) z

  G+ u; t3 f8 u; H% T. M+ G全世界都蝕錢，咁邊個賺緊錢呢?5 ?  c, a8 M, ?% ?( r0 I

5 ~% X8 o/ p, @, Z) L無可能淨係有人蝕錢無人賺架嘛.../ \3 j: N! V% m. ?$ @

5 L' \3 b7 D6 p' ~6 k敬請各師兄解答2 b# U- x1 R- {) Z6 C

2 }* P! O5 P0 NThanks

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那些根本係 紙上財富  
0 e+ a4 r! K8 |6 o7 ]/ C: b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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1 n1 b6 m% O( E; x) ?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
, X; w# t) O+ e; c( O當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, [& _1 `0 U% i; ?% ~8 ]5 ^7 F% h6 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
7 N8 F+ E  T" x: J8 P個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" f2 z9 e. z2 ]
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; Q, ?, J2 [6 U4 n計番回報率就已經係50%,所以可以好好賺- m5 s9 m+ M1 v$ e; X, x# R
前提係銀行之間要互相信任先可以咁樣借法
0 ]6 t4 h9 y1 u/ W/ T6 J1 v4 k同埋個市場既前境要係好先得
" W+ }* `0 G* T# [: s/ X$ D但當經濟一差,公司估值趺了,物價不升反趺  f7 e$ ^) e3 T* M7 A
例如剛才說10蚊的, 趺到得番9蚊,
6 l# R) G" N: V: c5 F: r, A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: v( @& |# s3 c( C( u  O所以你就會覺得D錢好似蒸發哂咁
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+ B8 V* m. L# w% h你都可以當標野咁諗, 個樣野多人可以狂升值,
5 D& ]9 X) F9 w0 P$ `8 F" O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 ^* ]) V, n9 [, U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 W2 U8 y  {5 n4 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0 Z; v) v3 K# {$ y; V$ g
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
$ {( Z1 i; u4 x2 v6 Y# y( P. S唔係d錢蒸發, 而係比美國佬洗晒未來錢, , z6 Y/ ~7 \" f/ K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( M& l2 P8 q# l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
' c4 E' y2 f* t1 ]7 \* F咁你話d錢蒸發左去邊? ...

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正係咁樣
4 k+ f' P! J8 ?- N: 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
, Y, G# e) o( N, l分分鐘佢地唔使還錢  f- ]) B! x$ I2 O3 l! J* v$ p- D

1 P- }' o6 u" G& D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," `) u! ]8 I) M$ x0 K, x
連國家都係問人借, 不停發債券, 印鈔票
4 M% o8 \1 W: m# e1 ?+ C) h一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; ]' @/ u* D2 C5 ~' j4 j* b
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
- Y  U7 _  ^6 m0 Q+ ^2 {" z" C咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ x6 c- d) _7 V( O其實係...
5 w+ w8 ?' Y* G% Y因為以前未生產, 先消費
, N7 i' K* ?0 u1 n而家就要多生產, 少消費