0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 y/ i, n% p) G
Why bank will sell 借據給第三者???3 z4 U+ x( J. `* x5 Z! D' w$ R
I was so confused.....

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講到尾都係賺錢$ c# O5 l. F  j. a% D7 ?
so銀行可以不斷放款
' B  q  ]  G. t: g& [9 ^" L& n美國的房貸問題散佈到全世界4 K& q6 P+ q2 e9 G0 O+ J% X
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mortgage loan
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$ V% I8 ]9 ?% l1 T' L: F4 r& [' j>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)7 ]9 M" h3 |0 [
最後去到投資者

Kev

i thought it is the reason of rate of return.
8 t+ C/ i, {/ G' ?. l, E/ RCDs could have different ratings, AAA -> F,6 Q9 q1 a) l- I0 b/ H
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. Z7 i3 ^- V) E/ T) k1 \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 P$ ^; }6 L5 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ `+ U7 m- ~* V; Y- _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' `% Q  {3 W) V( Z3 }3 Nsimilar to bonds, CDs trading in the secondary market have different value at different times,
" q' y( b) t3 N1 unormally the value is calculated by adding it's principle and interest.
/ @! k% Z; `& Y4 b. qeg. the value of the mortgage+the interests to be recieved in the future.
; K. t; n. f+ u' ^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.7 U1 h; s8 y- P
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im not quite sure if the multiplier effect does really matter in this case.
) I: p. W: w+ V/ p* k. [in stock market, it's the demand and supply pushing the price up/downwards.
2 t  W9 P; z. ~3 F+ G0 S! V& L( eFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) f' S6 R4 i8 n" a& l' xA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 B6 Q$ h9 P4 S6 U2 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. ) d( V7 Z5 B4 I' F5 e" ?
but the value of their assets did really drop significantly.+ ^. U8 }# f' ~2 V, I  w' r! u/ f) V
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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
; r/ z' [7 e9 i* nRefer to last example,
- B) {6 d" U2 M, |1 T1 n4 rthat means bank A have no money because we borrow 10 dollars from bank A
& n/ S: H& d: s2 aBecause bank A doesnt have enough cash on hand
3 M0 ~) J  U7 h  h1 L; Ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E0 \! f1 `0 F/ w0 D8 C6 V2 k0 c8 X4 U
so does it mean if E failed to pay D, + k+ K2 x3 }% _* p: P8 R7 Q( a% q9 z
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, ' [* \3 E& \2 f/ E0 d; A7 ^
in this case it doesnt really matter how much money is created, 3 e/ }% A% h. T  m4 t! o
it's the problem of the debt itself.
2 U0 F+ s2 U% s! |. u7 C$ x7 lthe 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
, `: H2 G  V  {9 j7 I1 R& M, i* j小弟一直都唔明...' M, c' T: x* U* Y  \/ a

( b9 F- Z/ _8 |' ?全世界都蝕錢，咁邊個賺緊錢呢?" }+ J, z7 O  E: D% U7 t) S& m
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無可能淨係有人蝕錢無人賺架嘛...8 a6 c% X( s3 h8 r

0 i- n0 |7 ~: j% V6 J6 m; ^1 X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  5 A  `; Z- p6 y8 E0 K( _4 R2 F7 k
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' H' g% J# v/ b
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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
2 J. ]/ A% q, N$ @3 }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; U1 ]- c* R9 n- G) C
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7 n0 h2 P$ z8 N6 z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: T9 w3 R% J4 M! a( h4 P扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- G& j0 m+ \# l! j. r
計番回報率就已經係50%,所以可以好好賺
3 E! I0 R$ u$ J: R$ ?3 `" ]" \前提係銀行之間要互相信任先可以咁樣借法" X0 }5 c* j- ]9 M. ~% @
同埋個市場既前境要係好先得
- `1 f7 k, A1 o9 \' s  W但當經濟一差,公司估值趺了,物價不升反趺6 k- [! {- ]" w( A: e- P4 G4 E
例如剛才說10蚊的, 趺到得番9蚊,
) x+ ]4 E: W8 [! K( N咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% L* R% z9 ?6 ~* u0 }所以你就會覺得D錢好似蒸發哂咁
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! }" D2 L  n! m2 e" j% z% F1 c, Y你都可以當標野咁諗, 個樣野多人可以狂升值, ' A7 Z$ \$ m0 m. S0 F
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, ; a: I6 ~; N+ d! U+ _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 l# I: O/ T# n" n. x' P- D! d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) R/ ?  b; B" R# a' Z
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, P9 y( J, v  k/ J# b! n# i
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 o0 q7 A% @  `3 _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 o4 a: d7 {4 R3 b) B
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
4 }4 Z" m( l' M4 M& a7 M9 y  @( Y咁你話d錢蒸發左去邊? ...

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正係咁樣- R4 R6 V6 G7 U  T* L1 Y$ C: X1 i
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' Y6 I) z4 h+ ?分分鐘佢地唔使還錢' W; h& W( S2 l/ Y, b9 ?; n& y% ?2 }

' n) H- J0 z$ [( r* Y, y, \( v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,* \+ }6 m9 R6 q( N5 r: y7 {) J
連國家都係問人借, 不停發債券, 印鈔票0 L+ H6 T! [" u/ i/ E' K# |
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! g; m! T0 t8 K+ ?5 d8 t) D# V
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
& l6 d; j# N+ c" Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! F5 `) N  u! X6 G" l2 W2 O2 B
因為以前未生產, 先消費1 G2 b$ x' ^0 L' e
而家就要多生產, 少消費