0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 T, B$ t  t4 e2 n( i8 h( `Why bank will sell 借據給第三者???
! Y% A0 x) r, y* @" ?* CI was so confused.....

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講到尾都係賺錢. N& Y$ I. f" D4 O1 M8 \" f+ F$ ?
so銀行可以不斷放款/ F# B' }6 w5 V) D: q
美國的房貸問題散佈到全世界3 a: [, U8 a, t; Z5 ?& ~

6 w! D5 f4 f) }/ z6 }, Z$ zmortgage loan 3 {9 t8 l' C! y, r  y$ E8 A
>conduit" O& |3 n) m+ t; @# k3 z
>RMBS(Residential Mortgage Backed Securities)
! g" S1 W$ q1 t& ]* \9 z. i1 w4 U>arranger
. I# |0 J& v0 e0 P3 Z& C>CDO(Collateralized Debt Obligation)
* C/ U0 Q* ^* ^; ^. x" ~- U最後去到投資者

Kev

i thought it is the reason of rate of return.
* q/ a5 i9 C- f2 t8 T$ k, lCDs could have different ratings, AAA -> F,  ~9 R9 s6 y- }) H9 N# ~! Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.3 N( U- e# u  K/ s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," X: L- H# C# x2 B2 E9 d
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 ?" `9 z$ u. D( f5 }. |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 p, c7 o( @% n+ m$ b' {1 r+ E7 Q
similar to bonds, CDs trading in the secondary market have different value at different times,
3 U' V) V+ U' H, i( Fnormally the value is calculated by adding it's principle and interest. ! [+ |* t! U" C& c5 X
eg. the value of the mortgage+the interests to be recieved in the future.
, i' y& a2 |/ Q. C1 fbanks 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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' w" G; R1 A4 w; T; Him not quite sure if the multiplier effect does really matter in this case.+ P- B5 b3 ?0 I
in stock market, it's the demand and supply pushing the price up/downwards.
4 E8 I# t7 A2 {" [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% I& m* x; X4 D( G1 iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 |4 V8 b! y( ~9 b5 E" F. }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.
$ z1 y: v0 a1 B# J1 |" Abut the value of their assets did really drop significantly.
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9 v4 e  s, H; z. @9 H) j4 ?3 @[ 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
9 k; v5 L* G8 gRefer to last example,3 H. P" x9 l2 h6 [8 h; k
that means bank A have no money because we borrow 10 dollars from bank A
4 h" u3 J6 V: N% p) m7 j) z) OBecause bank A doesnt have enough cash on hand
0 k1 E6 \" y+ S) ^8 {2 t# xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
4 s& e" h* u5 S4 q+ fso does it mean if E failed to pay D, 0 M- F! m! j  ]" h
all the B,C,D,E have to go bankrupt?
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. U) b0 F/ X7 m- e- `0 _5 pthe multiplier just tell how much money created in a whole economy, - u. ]' a4 S% O! D5 b9 I
in this case it doesnt really matter how much money is created,
; G# H6 s7 K5 R2 s) h4 Tit's the problem of the debt itself.( T0 U% K  I) p& {
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- F0 h) m3 U( Z3 _3 }: E
小弟一直都唔明..., t* Q6 n: u. B$ J

3 b6 n6 p( s0 h' y6 G- Z: e! X全世界都蝕錢，咁邊個賺緊錢呢?( b: M+ X  ?6 J
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無可能淨係有人蝕錢無人賺架嘛...
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. i' m0 [5 E& T$ {% t4 F0 L; `" P敬請各師兄解答' u8 _" m; x( \
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Thanks

' ?* `/ U  s$ Z( E2 g8 \; b& Z那些根本係 紙上財富  . C7 g. r* E, I
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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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. W, g4 m, [% l  y1 a6 |) @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% \) o7 C5 a7 E8 w
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
* k0 d& E; u* `8 `4 m& i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' L3 o  i" N7 Y& l* w  d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
* g. e' U, ~6 a2 C$ a( @計番回報率就已經係50%,所以可以好好賺
% T9 s. ?" m" t8 c前提係銀行之間要互相信任先可以咁樣借法9 t+ y7 P% p5 [+ y. g
同埋個市場既前境要係好先得; Y/ }& c2 L$ o: c  {
但當經濟一差,公司估值趺了,物價不升反趺
# _- F; s3 n! }  a" Y# _, t( u例如剛才說10蚊的, 趺到得番9蚊,
) Y* A1 i$ H- v: c2 i0 X; k) |8 J咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 t- p- T1 {7 m/ c0 _2 T+ {3 _' |! ^
所以你就會覺得D錢好似蒸發哂咁& `: t# P$ ^( Z9 T5 g& o
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你都可以當標野咁諗, 個樣野多人可以狂升值,
2 P- t  r  d0 T3 |$ 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,
+ o2 V) x' X  }/ A$ Y) ]0 w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' V! B" q. _- [& \  W
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 [$ X8 h% p: B: h' b* Y
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  g; J! }6 b, g/ Q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 a- ]: M" P0 ^  G. K8 x" B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & L& h4 D3 f/ 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) o) A  h4 t& r+ p' `4 g+ g0 ]6 |3 Y
咁你話d錢蒸發左去邊? ...

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正係咁樣7 ~$ `2 C% t* A& A; D2 C
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& N3 m! D4 p分分鐘佢地唔使還錢
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& M- N5 x* P% L8 x0 ]6 n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,
4 @1 ]/ i4 [+ \9 B/ ?; r0 \連國家都係問人借, 不停發債券, 印鈔票2 j. T7 B& R" G4 l
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ B% k  c% n4 u5 h3 ~) e3 ?
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& G7 F& \+ c5 w0 e
咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ i! k# Z/ g! Z6 x其實係...* X4 @; P3 C/ C( y, O5 F( e
因為以前未生產, 先消費8 G) A+ R! ^/ Q9 x
而家就要多生產, 少消費