0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# ]0 I" C8 m7 b9 m+ x% {; l  u- Z
Why bank will sell 借據給第三者???
$ n% S7 P7 g9 cI was so confused.....

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講到尾都係賺錢
  ?2 u8 h2 {' C- D- y; \so銀行可以不斷放款/ q% R* J7 j! A, w5 i, Z& N
美國的房貸問題散佈到全世界6 W3 M: T! l; E  i# Z
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mortgage loan
0 h- [# ]3 Z- _>conduit
) F' r; W' H/ i4 N/ g>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
, L% g) U; W$ I' {: t. {% z" f( C  W: H最後去到投資者

Kev

i thought it is the reason of rate of return.# _8 m; ]) E, q$ F+ o& n! c2 s
CDs could have different ratings, AAA -> F,
0 n3 ^  F8 u# ~) G% v6 N0 N) Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
7 j9 D$ v6 [4 ^) O5 H- xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 x0 O1 m+ t# u, i
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 x2 O, C( ~- p( x) o9 |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 C; \/ p4 y7 `similar to bonds, CDs trading in the secondary market have different value at different times,
! P- q9 a2 Y7 L4 `  d8 X) Dnormally the value is calculated by adding it's principle and interest.
! z- t6 l: n6 h' w0 oeg. the value of the mortgage+the interests to be recieved in the future.
6 _- a/ V# x7 D2 J. Z1 @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.! S! z' H6 ]3 L; }8 V1 V2 B% D
in stock market, it's the demand and supply pushing the price up/downwards.
; x1 Q  s/ ^# y. ]9 L2 {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  c0 v6 k' p3 g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 t/ Y8 ?1 S5 t
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. ) f9 c' q! ]: p2 X/ b$ o) i
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.gif( j; [- e$ h9 J% t
Refer to last example,0 H) f* C- X5 V1 M" Q
that means bank A have no money because we borrow 10 dollars from bank A # g; R! E, }. d- U
Because bank A doesnt have enough cash on hand
* S! z6 W3 I, Y7 b, @therefore bank A need to be bankrrupt ??? Am I right ?? ...

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! m$ u3 t6 M' }5 @A->B->C->D->E$ H% _# u' S1 |1 G3 R
so does it mean if E failed to pay D,
. ^1 U$ s, s$ ~! Pall the B,C,D,E have to go bankrupt?% P$ C& R# J4 R  ]5 ~
  ]0 `( p( m! W; P4 U, S3 |

% F2 |3 n5 y. b. cthe multiplier just tell how much money created in a whole economy,
- w* B' L7 b" ^! k7 x* e; h% Win this case it doesnt really matter how much money is created,
9 a6 @) U6 v5 _% k$ m: Wit's the problem of the debt itself.1 }3 s3 ~& T. |1 W
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
, v- d) B  j/ O# R: L4 `9 U( {( l小弟一直都唔明...0 }7 ^$ r  ?& }( a) ^2 V

+ G/ v* p% `$ k5 J! V- C' i) N全世界都蝕錢，咁邊個賺緊錢呢?" s  v' O; ]  k, E, Q. c

4 l7 h' ]3 V+ ?" B3 x無可能淨係有人蝕錢無人賺架嘛...8 f  z1 S. e! w# O% O; g

7 C" `) K" _9 I, D4 \2 v敬請各師兄解答/ {4 T- ?6 B) t% I4 i; t

) G. p7 ~: s' s7 n5 [4 h4 m" pThanks

, K0 _0 [. H( N# T* [那些根本係 紙上財富  ( g5 ]) \# L0 ]! J2 h7 \
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 graphic5 C% k) U1 ?# 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
& w7 c' a+ s0 _7 n/ l4 u2 e  l當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 h8 @5 l  r7 S! x, 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* f9 [+ A9 t5 l8 P* g$ w6 P( K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 W5 _; D2 o2 d扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. g4 G+ j; Q1 Y$ A$ D
計番回報率就已經係50%,所以可以好好賺
3 S/ Q  D0 E5 J/ S( x前提係銀行之間要互相信任先可以咁樣借法
# p+ d3 l6 {2 L/ M2 q( D  }同埋個市場既前境要係好先得: ~. h$ u* s& e) U) V  {
但當經濟一差,公司估值趺了,物價不升反趺
4 h. J* s+ X" D+ ^! B% p& T9 j, l例如剛才說10蚊的, 趺到得番9蚊, 3 o) B% c+ L5 a7 C- P/ y1 m3 i8 v
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: m* T- s/ E0 l4 }8 V
所以你就會覺得D錢好似蒸發哂咁& f/ }) j2 w+ H/ I& d# n- l
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你都可以當標野咁諗, 個樣野多人可以狂升值, 2 l9 |7 R6 [( ~' ~9 A
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,
! `# ]; u! s/ ]  x3 m, f' J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# B2 O# @  F$ ~/ z  K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
& E, A, c; g* z8 E" U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% ]; Q# E2 r+ W! O* ]7 \
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ Y  N, F* u! b8 }+ f+ L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' S, k0 G# h' e  U) x. w# G4 H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 n/ L2 A: Y% l0 u# E咁你話d錢蒸發左去邊? ...

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正係咁樣1 R7 c' e4 i$ F( ^7 F
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
' K( v1 M/ |; n6 I# O9 p. e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,
+ h% ?+ D2 S: @8 @連國家都係問人借, 不停發債券, 印鈔票! p( l8 ]- h, `5 X0 @; a8 n% q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* h% s1 I  d5 J. l) m. z" y9 F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( m$ C5 a+ ~; F. o
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
7 a2 s- K3 ~' A+ a) I因為以前未生產, 先消費
; `1 S. h  F" ^( D0 e, N0 N而家就要多生產, 少消費