0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ V$ Q) s1 D& g9 w8 ]! W
Why bank will sell 借據給第三者???8 k8 }; O$ X- X) R5 E
I was so confused.....

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5 W5 w+ k; d+ A) N講到尾都係賺錢4 `% \3 k. t  K! O+ s) ?
so銀行可以不斷放款3 ?' e, h$ s( d+ I
美國的房貸問題散佈到全世界
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mortgage loan 5 D# O" P9 F8 k9 L. r- n. W
>conduit
7 }! I- l0 R; E7 @9 Q>RMBS(Residential Mortgage Backed Securities)
3 r/ d4 H5 |5 [0 k>arranger
% Y" j2 o1 s6 D. ], ^>CDO(Collateralized Debt Obligation)) S6 |: z4 p% @8 k' U5 ?, E# k% i1 H
最後去到投資者

Kev

i thought it is the reason of rate of return.
" `8 n/ ~3 v$ W6 ?. j, YCDs could have different ratings, AAA -> F,/ V) s  T3 m) `' \9 s* ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.4 _3 M& U# C4 [% J( k* V1 j  A
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 G, Z! \7 w: _# B
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' s& D5 H/ Y) YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 {6 G  L3 i6 d" t5 ~) vsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 P+ R% K1 p3 y6 I6 anormally the value is calculated by adding it's principle and interest. 4 J2 ~9 t2 q: {. F5 O5 r
eg. the value of the mortgage+the interests to be recieved in the future.
) J+ K/ r1 o8 }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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9 G9 x- o/ {) @9 W6 [1 V$ Fim not quite sure if the multiplier effect does really matter in this case.
  u& M# z1 L2 R* y0 oin stock market, it's the demand and supply pushing the price up/downwards.
! g* i; X3 W; c) V" o1 @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, V- L% \: _# D% }A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 v% H* k/ U0 {  X7 X5 ^1 ]. rThe 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.
5 k+ [2 O; Q8 M: {; i; H5 tbut the value of their assets did really drop significantly.+ V1 {6 M- o/ r" p; H9 b- d# S

# o0 ?+ \5 F" {8 {: C[ 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
( n/ M  [' [: VRefer to last example,! l/ L8 }! {! n
that means bank A have no money because we borrow 10 dollars from bank A
# M, t1 {* k6 a, N3 S6 |Because bank A doesnt have enough cash on hand
* ^+ x6 T8 ~2 E3 @! ]therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ B6 }, N; _5 B$ @; v! @$ u; _A->B->C->D->E
3 p. w6 n2 T( ]( F1 Yso does it mean if E failed to pay D, $ Z$ N% C0 W( o' c
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,   {: @% {! K% t: Q# E
in this case it doesnt really matter how much money is created, - z4 x% n- _) ?& ~7 n$ M
it's the problem of the debt itself.& @" G1 l3 U3 D" K7 j
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; B' V+ y; ^; A: O
小弟一直都唔明...7 x7 T& Z3 b/ ]; B
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全世界都蝕錢，咁邊個賺緊錢呢?. B- \5 w" Z. T" `/ ]' t3 z
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無可能淨係有人蝕錢無人賺架嘛...+ e) L; T9 w% R& B2 [5 v' [

- r1 S0 L, ?- z8 R6 u6 K敬請各師兄解答. T" p, u) i0 M& G* F1 r

) x# F4 _1 l2 p0 u! l2 g7 P% bThanks

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那些根本係 紙上財富  / b' p- p( Y; ^! Z
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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/ Z' y+ H8 I( R, Z, R, zhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
) o. W# t1 X9 Z1 X4 q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 f$ T* ~6 O" t% A. P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
4 h7 M$ F6 O- P7 m$ N4 k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  c0 k; E, v+ U+ R! m% A' W扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# U6 z/ F: }- S; Z: M& c# ?計番回報率就已經係50%,所以可以好好賺
/ `) T0 n/ Y  r7 z前提係銀行之間要互相信任先可以咁樣借法
! b! E8 S; y6 @5 O, O6 T同埋個市場既前境要係好先得
) v# W3 o, m  p但當經濟一差,公司估值趺了,物價不升反趺
) j. @$ b2 f) a9 Q4 d例如剛才說10蚊的, 趺到得番9蚊,
' r5 M2 j' L/ B' N: ^" A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
- [, X8 t$ K' ]& r" Y所以你就會覺得D錢好似蒸發哂咁$ M3 G5 h" }0 k  C9 }  K% D- T
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你都可以當標野咁諗, 個樣野多人可以狂升值,
+ X' g* J' X) G/ w8 W( q  N  ~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,
# _2 P3 }1 Z* N, e  q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + k/ N7 `# V6 v0 O
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
" y+ S3 X5 ?- ^( f* n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
9 L1 D$ S( V, r( b. p" d唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 t" i5 C/ m( J' `0 a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * A, U+ G9 `6 p8 g, m* O2 C' I
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/ H( G% W: K6 r0 \
咁你話d錢蒸發左去邊? ...

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正係咁樣) X# T# {! l' e
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/ }7 H3 I  j6 C. T9 ]
分分鐘佢地唔使還錢; [! O. C: e$ p: V8 L9 p

! h. `2 C: |" B3 O1 H/ g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,; z! F5 b( X- [0 O; v
連國家都係問人借, 不停發債券, 印鈔票
2 m$ p' i; {: S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 r8 ]- A: w& L: [8 J
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.gif9 H/ D! p1 f3 G2 S# ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 s( M0 b* l! Z- F) ^) A* i
因為以前未生產, 先消費" J. `. q# i$ J
而家就要多生產, 少消費