0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' b* R' p5 N; }3 fWhy bank will sell 借據給第三者???, }( O' u8 N6 ~% u, H5 ~2 l
I was so confused.....

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; p4 D6 R4 V% \+ H, Q# M講到尾都係賺錢
' D/ V6 s" g9 ^so銀行可以不斷放款, B; p, X! W& B) @! x; i
美國的房貸問題散佈到全世界  L* _5 ~9 W' f- s; d6 `

  W* s5 Y- P" P4 smortgage loan 9 c& X8 H$ b$ r2 O$ l
>conduit5 w  Y: ~  H2 ]! Z
>RMBS(Residential Mortgage Backed Securities)
& j& c$ u5 n9 G/ T' a>arranger
0 t8 t! r8 S8 ~/ k1 y>CDO(Collateralized Debt Obligation)* V4 x! B. x3 ^9 \
最後去到投資者

Kev

i thought it is the reason of rate of return.
& t3 E+ M9 @4 j% mCDs could have different ratings, AAA -> F,' D2 N( P, P% {% g9 _1 p$ K2 a" C
more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 ~/ v+ ^/ |/ f8 imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* M. u9 Z8 k% I9 S% E" Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 R$ F" b5 i* v6 E" }: t5 A6 c9 Q  P
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ z" o7 q4 l" G( s
similar to bonds, CDs trading in the secondary market have different value at different times,
0 \0 S1 x2 T3 t) {+ o( N7 F3 qnormally the value is calculated by adding it's principle and interest.
5 [- q" Y8 W1 heg. the value of the mortgage+the interests to be recieved in the future. / W  W7 {) q, }2 U6 z
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.3 d- b& t2 |$ Y% f7 y: h: d- O
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im not quite sure if the multiplier effect does really matter in this case.
' e$ Z, p- h5 j! E  [1 kin stock market, it's the demand and supply pushing the price up/downwards.1 A9 J4 F( z& }& F2 x3 F3 P/ |
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; L& ^3 O; I6 e  B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 l- u  J" z( f7 M# lThe 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 v- ^) o' t5 |  n4 E
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
% D: j9 _2 A9 d( q- A5 R) ORefer to last example,. B6 I# T7 Z+ O/ ?: h' M
that means bank A have no money because we borrow 10 dollars from bank A * W+ `" K$ V! Q6 J
Because bank A doesnt have enough cash on hand
0 M7 I) L2 F# z( Y- z$ w! h" Gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 ?. \& L$ ~, H/ zA->B->C->D->E0 k2 k) B. l1 J5 k
so does it mean if E failed to pay D, 0 k3 P5 _! @7 X. B8 b. L  R
all the B,C,D,E have to go bankrupt?
+ o4 e! |/ |% H9 B2 J4 |* ]5 S" u; X; w! |9 D) J, W

2 N, y, N- ~# |% d/ S# e! X% b! hthe multiplier just tell how much money created in a whole economy, * U9 R9 A( @& v3 {5 M, n
in this case it doesnt really matter how much money is created,
2 Q  c3 X8 n3 b5 Bit's the problem of the debt itself.; Z) U1 X/ H: K/ B: r
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# q7 o) G4 Y' \# ]6 C. E
小弟一直都唔明...
$ m4 m0 U, S! }0 `4 W3 r/ R  [) l. J9 k2 J
全世界都蝕錢，咁邊個賺緊錢呢?" H: x  h8 A: E
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無可能淨係有人蝕錢無人賺架嘛...; N* `/ K& y# p+ T) p: e  G$ V9 ^

% m/ {$ y$ {  u6 V" \敬請各師兄解答0 K' H# R1 U# b" F: P; g9 G- v
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Thanks

$ e5 z. d& V: i% P# c" P
那些根本係 紙上財富  
) s0 B/ y6 k& h. t) m8 v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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# v+ M5 V* B4 `* thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產& K- I/ v/ U; e
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! y  z; p. f4 J( E: n1 ^! `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/ {( C1 T4 I, o5 M6 n0 H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 y* i" M0 v% ]9 x6 l9 [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ F( N  S' u% a6 T' F3 {+ N計番回報率就已經係50%,所以可以好好賺% r' H8 u3 K9 Z7 {
前提係銀行之間要互相信任先可以咁樣借法
/ ]; m' N- ?2 j: Y5 {- N同埋個市場既前境要係好先得, ~8 U% d' H  Q
但當經濟一差,公司估值趺了,物價不升反趺' r' k& D+ Y& `; c6 J
例如剛才說10蚊的, 趺到得番9蚊,
1 a& |( V5 d0 e+ g. B咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ g0 n7 H2 \" Z( `, a( c
所以你就會覺得D錢好似蒸發哂咁$ l' q* r* n" b! y2 j; z& M
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你都可以當標野咁諗, 個樣野多人可以狂升值,
/ h! Q4 }% x, {+ v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 j# I) X# l4 @0 ]8 F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* m9 t- v2 `. f7 v+ 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
3 N! H" o5 f# S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
0 [- [* k  E5 M, M唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 L, v3 S, ^) x8 M4 e. ~' w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : z" z( o: m2 v3 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2 W* O' f) j, b0 j3 ]2 ?
咁你話d錢蒸發左去邊? ...

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% n, N, f* x0 K. Q" I8 L正係咁樣5 e+ C* k" V# M) l0 N) v
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; [8 r& \, a0 i: |6 M3 W分分鐘佢地唔使還錢7 B, X; ]3 `0 e" \, q7 I

" b' |$ n& Z) }" i4 o! e3 `- m' }# 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,
$ [+ N  j  g+ e( y+ J0 ~( p連國家都係問人借, 不停發債券, 印鈔票
* o4 X! d- m) y5 G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 S2 n& Z4 o, ^- z) E4 q2 ~8 U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
- J% A7 g6 F1 D& K5 i. j: v咁而家"爆哂煲"算唔算先至係變番"正常"???

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; N9 O$ _* N. i; K/ i( _; r! D其實係...2 N8 |# V, O8 N
因為以前未生產, 先消費
( _, k  ^6 D# ~8 w& y而家就要多生產, 少消費