0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. W% H. R  K2 Q% l2 T) ?) lWhy bank will sell 借據給第三者???
9 S, ?/ n. C& Q2 bI was so confused.....

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8 N0 s$ n3 {: U0 P; w講到尾都係賺錢, N0 C2 c) C3 G' V/ T8 d" J
so銀行可以不斷放款
  d4 T7 g1 ~& c  J  B& c5 y! |美國的房貸問題散佈到全世界' y! b7 j4 f8 O1 z  C& R
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mortgage loan 7 z7 d8 `0 f4 U% _# K0 ]. t" l/ g) S# m
>conduit
6 T5 T+ c  {  S>RMBS(Residential Mortgage Backed Securities)
( Z4 d4 P  d0 u- ]  l/ X2 R>arranger
  E& b" U' O% ~0 Q* I) j- ^* g>CDO(Collateralized Debt Obligation). J1 [; W# R. M8 g! h. @. _6 k
最後去到投資者

Kev

i thought it is the reason of rate of return.$ O4 P2 Q7 h4 q/ t% m9 ~
CDs could have different ratings, AAA -> F,+ ^* w1 @0 S# c. o
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( |# y& R! d. e6 Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* a3 R( `+ d% h6 Min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* e* S  T2 i5 i1 I3 YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) G% }" U9 H! R5 P6 ?$ e
similar to bonds, CDs trading in the secondary market have different value at different times,
$ C$ }2 ~+ Y7 N) v8 ^normally the value is calculated by adding it's principle and interest.
" W$ M; J$ X4 Y$ a. O4 seg. the value of the mortgage+the interests to be recieved in the future. ( `5 |: U, H4 L# V5 D4 J
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.
3 {' Y. J4 N9 Uin stock market, it's the demand and supply pushing the price up/downwards.
9 B' g& X" e- }" S) u' ]. ZFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 _* \% ?& T2 V1 S
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 a% [6 x$ o% ~/ {3 n6 J
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.   d! l6 d1 q( q7 Y; ~5 U: l; K
but the value of their assets did really drop significantly.0 D8 N- _/ u0 Q2 u' ?

* t; j( {6 B% B% o. x7 a- p[ 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 T* V6 A& V/ c6 `Refer to last example,
, {5 Y' w" p" D- }that means bank A have no money because we borrow 10 dollars from bank A
( j0 Q+ ^5 b8 z& c2 ]1 R/ TBecause bank A doesnt have enough cash on hand
# N* ]+ r. _; ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E" t; n. {% W1 G! \: v1 @
so does it mean if E failed to pay D,
, k+ w# d+ f! v* ~' e3 |! @all the B,C,D,E have to go bankrupt?
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: y5 J% ?  g3 Q& h. ], @the multiplier just tell how much money created in a whole economy, " u6 P5 \' g5 x: F9 v& G' w; H9 J
in this case it doesnt really matter how much money is created, # C" B, p- x  ]
it's the problem of the debt itself.
6 E- x% S( K% E0 x1 {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.gif1 Q* m1 L4 K# L9 ]4 [
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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; `. B! k( A2 r無可能淨係有人蝕錢無人賺架嘛...
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6 k( v+ Q# d" ?! ?' a敬請各師兄解答
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Thanks

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那些根本係 紙上財富  ; g6 Z/ r8 q" P8 O
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( N  [8 ]+ P: J* ^+ M: r$ X

' |6 j2 G: Y/ X. t+ Xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
- x/ ]7 O8 Y  t, A: x/ R& {, |+ o當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) d3 Q0 a$ `- ^4 V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
' u( a8 {8 l) K9 e$ y+ A1 I0 O. }( z: V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 ^9 \  n; f! I2 ~; o7 l扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 |+ g; C3 V% K6 e/ \/ b$ j( f計番回報率就已經係50%,所以可以好好賺. i! ^6 g3 h0 ~9 ~6 h
前提係銀行之間要互相信任先可以咁樣借法
# y2 ?- [, |' k. Q6 x6 y6 X: f1 o同埋個市場既前境要係好先得) w5 b! {! X7 ?& v
但當經濟一差,公司估值趺了,物價不升反趺
, c# o2 K" Y* y7 h/ R# S7 u例如剛才說10蚊的, 趺到得番9蚊,
' K! `% r" ~8 [6 M$ L+ x( j咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; d; n5 S' i2 j) Y
所以你就會覺得D錢好似蒸發哂咁% i3 }, z: O. Z: [% t+ \0 K
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你都可以當標野咁諗, 個樣野多人可以狂升值,
& L( _7 Q. e( h: r$ J  {& E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,
* Y/ q1 T6 ^) M6 J4 z9 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " W5 x% K7 U  I# j1 d( u7 e
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
* V* h" S# c, W7 e* i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.gif9 m" Q/ k) a! J3 \3 s! i
唔係d錢蒸發, 而係比美國佬洗晒未來錢,   ?1 z8 z: A2 V5 q5 f1 h, u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 R' h& k* X3 ~& E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' G( y/ w9 X  r( O咁你話d錢蒸發左去邊? ...

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3 @" h$ `* |) X( F1 P5 y" R! t正係咁樣
9 G) j/ w3 A$ s- b4 r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$ D4 F2 {% V8 Y+ L
分分鐘佢地唔使還錢' X$ t/ \% I% C

+ ^$ ^! s/ n( u" B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,5 @0 s1 l% Z7 A3 h& k' U
連國家都係問人借, 不停發債券, 印鈔票  O, G' Q# t0 H# v4 d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 \# ]( z. Y4 k1 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
2 d8 v  H4 k1 ~# b' o  F咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...0 n2 U0 a* o3 _
因為以前未生產, 先消費- z. S, L% T$ B7 q4 ^- [7 d
而家就要多生產, 少消費