0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 ?$ u, w" d: k7 j% u7 ?Why bank will sell 借據給第三者???# X" G; m( R8 k" _- x2 A! V; f
I was so confused.....

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; \% ^2 Y. j# J講到尾都係賺錢5 V' E" a0 y6 c/ y- ~6 _" t
so銀行可以不斷放款
# h, J2 ], m% |/ W美國的房貸問題散佈到全世界
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mortgage loan
7 Q  ]: i. t: H1 \+ F0 T; A5 L>conduit5 [$ k8 V! x$ `+ G5 y
>RMBS(Residential Mortgage Backed Securities)+ T% _3 M! l* T
>arranger
0 p9 Z1 B% f# d) b, |) l>CDO(Collateralized Debt Obligation)
) {1 a6 y7 E4 k最後去到投資者

Kev

i thought it is the reason of rate of return.# L. A% t( |3 d; C7 T6 ~1 e9 n/ a
CDs could have different ratings, AAA -> F,8 _- I0 [! G7 ?8 \% e# r1 I) _
more risky ones would have higher premium (interest rate) as a compensation for an investment.
' N2 g/ W. y/ o8 m7 R0 `main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 ^% n* |+ I4 Min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 [7 F9 `0 h# k4 B
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* C! P5 D) M6 }' E" l* \9 Y
similar to bonds, CDs trading in the secondary market have different value at different times,% s9 D9 W2 D% T6 r) K7 {  b
normally the value is calculated by adding it's principle and interest. ' A8 S4 h) S( m" Z- X0 D) B0 z
eg. the value of the mortgage+the interests to be recieved in the future.
1 o3 ?9 l6 I: `9 i  V+ }: J, w- g/ Tbanks 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.' L5 C* ?$ N! F3 O5 p

3 T; u' G$ \0 v2 ~' O4 o/ pim not quite sure if the multiplier effect does really matter in this case.0 C0 ~" @. a( t, b& L- h; v
in stock market, it's the demand and supply pushing the price up/downwards.; C+ _* n4 o  I" R) {2 I4 ?
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. K8 ?3 r$ l) C% v) {1 S! ^
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- P1 Z% n2 j9 D5 s" e! h2 d0 Y
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.
: g7 f5 L$ `& Q1 q# B! h9 Jbut the value of their assets did really drop significantly.0 @$ k8 C1 l) U6 i6 l

$ C' J1 x9 V7 d0 ]( O* [[ 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- [' o, z. n4 r
Refer to last example,% `6 a" T  ~' ~
that means bank A have no money because we borrow 10 dollars from bank A
; S; v' b9 d' i& H2 S/ F! H+ LBecause bank A doesnt have enough cash on hand 4 R7 N' `0 c: u: j7 X( ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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! |: S# \  h$ v& t/ lA->B->C->D->E
+ H4 |  H0 `5 nso does it mean if E failed to pay D, 5 ?+ i4 J$ `2 o. M$ w; d, c; c
all the B,C,D,E have to go bankrupt?5 P$ v& f# ^; Z7 t  r

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the multiplier just tell how much money created in a whole economy, . s( r" w3 r; U- G7 a" o
in this case it doesnt really matter how much money is created, 4 Q1 s- ~! Q/ c2 l6 ]
it's the problem of the debt itself.
: C8 w" L, k- v/ P3 u! x8 zthe 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+ _8 ^4 {+ Z# P1 R% @  Y
小弟一直都唔明...
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0 R; w( t! U  T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...
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敬請各師兄解答) a/ B4 I: w  H) w! @* _! o
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Thanks

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那些根本係 紙上財富  2 ?$ g) n7 ^" e; w$ i/ D
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- K3 E! v" O8 }( ~+ o

* _' C' L& L! @" e& ~/ whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產1 J3 Z7 [9 m$ m0 @! [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) v$ j9 J8 V8 I% v3 I: i4 H
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: C( n; K$ Z; ]" D+ w0 g' }
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 J! B( _4 M! ]8 C5 G; M+ T
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 [9 B0 \' Y5 }8 O8 D" n% P' N
計番回報率就已經係50%,所以可以好好賺
( s8 r  C1 K; I前提係銀行之間要互相信任先可以咁樣借法
! r2 w$ U( B6 s8 O" S% _: n& u同埋個市場既前境要係好先得
1 \0 K: w# [7 ^+ U但當經濟一差,公司估值趺了,物價不升反趺
) t2 D! q+ [& R" u例如剛才說10蚊的, 趺到得番9蚊, 6 T9 z- S3 y5 J. P4 G5 k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& B$ n: L. ~- d+ I. ^: A所以你就會覺得D錢好似蒸發哂咁
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, l' {2 N# y+ x你都可以當標野咁諗, 個樣野多人可以狂升值, $ ]9 V$ j! @0 t( L+ I
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,
- ]1 r1 O2 z9 H3 z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / e+ V7 h8 s/ n8 s+ q! ]
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 P$ \5 g; _8 f4 m+ B4 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.gif# t" i% j  K, X  T
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " ~( c! p) A6 h9 }9 t/ B! M* {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; u% n8 J6 g5 `
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
% t. @7 h4 ^2 q% T咁你話d錢蒸發左去邊? ...

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: C( u1 P. r3 z# c" ]6 ]. s" Q正係咁樣" }8 f9 u4 M: ~" N. G# f9 D2 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  r7 k% b. Z* G1 N) K
分分鐘佢地唔使還錢
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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,
) {# F. C! s# Y4 F) `0 I$ N連國家都係問人借, 不停發債券, 印鈔票# J! }, r' t$ k+ t& P" ]9 F8 i) `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) f3 D( `. ?+ Z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
' L/ B( \  v  w5 j) {- \* Z咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 g; h. m9 _, S& {
因為以前未生產, 先消費% V, r& x3 l/ v3 Y8 D
而家就要多生產, 少消費