0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( M- y. e6 N& i6 q" SWhy bank will sell 借據給第三者???
. o6 R4 ]' U  w- U$ e- S# Y8 ~  dI was so confused.....

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講到尾都係賺錢, J! v2 n  _8 T+ c5 v) K
so銀行可以不斷放款
3 X2 x* @* g3 F8 p; s1 z  S' T美國的房貸問題散佈到全世界
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. m7 W, |- I. z0 e& d4 Wmortgage loan ' w  }: n% f- [; i
>conduit# f, Y8 A7 q) T; C0 k0 v$ K
>RMBS(Residential Mortgage Backed Securities)# E5 _: |) ^: ]. H( w
>arranger' ]9 e( J( K# h# A! ~$ g
>CDO(Collateralized Debt Obligation)
! O, u8 f8 B7 U* p' s1 i7 m6 P最後去到投資者

Kev

i thought it is the reason of rate of return.+ G, Y3 l# ~. K" H5 v" s: n6 O
CDs could have different ratings, AAA -> F,  P, n2 K$ ]6 @; @5 y( r
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 _" ]# \# i' J0 I4 K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 Y# T* M7 U5 s" E! hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( |' }" g. A4 c  w5 [3 ^1 ?8 u& pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 K7 c8 t+ w* j( a. a  R9 W- |
similar to bonds, CDs trading in the secondary market have different value at different times,
1 `" R( a7 w! N) s% U+ P. S4 _normally the value is calculated by adding it's principle and interest. ' _5 V4 S; y9 {5 r) U$ U
eg. the value of the mortgage+the interests to be recieved in the future. 0 I( ]6 D  l8 y) j% x5 x8 Z$ F
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.
- i! J. z2 a$ U6 ?8 h4 ]in stock market, it's the demand and supply pushing the price up/downwards." A# l% Z; N0 O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 _& l( b* \8 A8 z0 V4 pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# f. l* e  s, m, M9 fThe 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.
' t2 J2 W' F. ^6 o4 ?" R8 mbut the value of their assets did really drop significantly.! E/ b2 b* }+ u" v& I
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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
$ Q5 r2 X- L9 ]* {: s! j3 j! j- ORefer to last example,' z" j0 S: s# [# i! L* g
that means bank A have no money because we borrow 10 dollars from bank A + i% D: f9 ]4 ]$ `: q
Because bank A doesnt have enough cash on hand ; [+ r7 q$ l( y9 a. @5 N" U' u
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 P! U  {* b, ^, k" R" X3 m  YA->B->C->D->E
1 t6 x$ j: B2 W" r# D% A  `so does it mean if E failed to pay D,
& L( w$ c, ?/ c9 }, r7 m, Lall 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,
4 o1 x& ]5 i5 f: r% E9 w+ ~' j) hin this case it doesnt really matter how much money is created,
1 i$ v/ d# [" z' b0 P) Vit's the problem of the debt itself., w) ?9 _6 O) q  @
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.gif8 v4 P' w8 A$ r; d0 G1 z% [' N
小弟一直都唔明..." M/ r9 p. H$ s- H7 ?; g6 S$ e
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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..." D) o( C9 q4 t, _5 T  F
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敬請各師兄解答
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, B$ _% U. f5 H8 `# q5 iThanks

) F, r* T4 B5 E: G  p- k7 j- ?那些根本係 紙上財富  , u7 `9 j! h# d" 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 graphic2 _0 x# J  W) e2 \" U$ {

& o: c# ?; L) E) |) ?2 ~4 e* vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 u) W" t4 z( |" V5 E! w當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 v/ S+ _) Z* ^( @- R4 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8 K" d/ k8 ]$ B5 n/ X& e, D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; c6 I8 \3 O! Y, o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 g& c; K+ G: q
計番回報率就已經係50%,所以可以好好賺: {; i$ e5 w5 V' |( Q: h" V" ]
前提係銀行之間要互相信任先可以咁樣借法
6 i/ T, Y" C7 i4 V" v同埋個市場既前境要係好先得5 W1 {) L- c3 x" T
但當經濟一差,公司估值趺了,物價不升反趺
0 r) J9 W: t& C. P例如剛才說10蚊的, 趺到得番9蚊,
( s# e) J: B' I# w6 r0 ^  f! {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, ^, Y6 D: D5 K+ ^& h/ T所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
. S; O  Q: n8 l' n4 X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,
# ?. j. U+ l0 X) [5 U- d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 M6 K2 c2 q. B( _& W4 f
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
3 H& h1 u0 O7 m3 J: G, A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& u4 ]' T4 b3 j) @$ u  n: S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 G4 L1 _1 B2 x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; k2 K) I1 @; _, }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
6 k, i  W: i: Q  X咁你話d錢蒸發左去邊? ...

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9 L' A4 I, @' Q. d正係咁樣& G7 Y6 c% ^/ X6 j6 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
( G, J$ x8 {" l0 g, i& {分分鐘佢地唔使還錢
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/ M/ N$ D8 `# q7 [; ?; ]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 t9 h( D3 j8 g6 O. i' ~" R
連國家都係問人借, 不停發債券, 印鈔票) T5 T; x: c  f8 A& o8 ]; w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) g! ~: J9 A  D
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
1 q" `0 F* l5 Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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  {, W% T" E7 Z其實係...
- j& O3 g" C% r* I: ?8 T) B: Y因為以前未生產, 先消費( `4 U. C( T) ^+ G& u9 s
而家就要多生產, 少消費