0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) A7 g: d3 y' U3 r  EWhy bank will sell 借據給第三者???
; U5 L; b7 O0 ?$ N* e+ rI was so confused.....

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講到尾都係賺錢- E' c  z7 j+ z9 W1 i* E8 g0 j& ^
so銀行可以不斷放款% q% N: R2 @& g7 Q, D
美國的房貸問題散佈到全世界
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mortgage loan " O$ a$ n! {2 A" O
>conduit" r- k2 G+ R: [5 a9 `2 ?3 V
>RMBS(Residential Mortgage Backed Securities)
% N& Q2 c2 g) j; H0 `>arranger
) h5 @( K% T! `6 o8 q>CDO(Collateralized Debt Obligation)
, ^! Q: a( Y6 |, L最後去到投資者

Kev

i thought it is the reason of rate of return.
; m0 U: k% T( {5 z% n0 V! tCDs could have different ratings, AAA -> F,
+ Z( f4 w; y6 F( l1 W! mmore risky ones would have higher premium (interest rate) as a compensation for an investment.5 K2 s7 q; e2 a' T3 T' E; w6 ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,( M3 c! `7 }9 G) U! \. J
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% N' G+ F& l; E( w. r8 u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( M9 @9 o7 B- f- b4 p& J6 w" L# w# E
similar to bonds, CDs trading in the secondary market have different value at different times,
1 I5 S* @* H# ]4 F! Onormally the value is calculated by adding it's principle and interest.
5 }6 v8 R! f! D% I; a/ o2 |1 Ceg. the value of the mortgage+the interests to be recieved in the future.
" x( m) }( Y% Y& L$ Y; e7 nbanks 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.
& r7 V2 D4 \, _: ?* Hin stock market, it's the demand and supply pushing the price up/downwards.
- }7 g5 Q+ a3 F; u$ a, T  \For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# I4 D; v- O  F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ w! O; ^5 A0 c. {; h+ ~. \# q( W- M
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. 0 _) \0 }6 z% u. O; ~
but the value of their assets did really drop significantly.* v/ [2 \$ E1 G+ Y4 `

, K0 p: D5 o1 E. B8 L  T[ 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: b) d7 v# L: t/ U; ?
Refer to last example,) ]  s- [8 o! S8 G+ X5 @5 o; _+ P
that means bank A have no money because we borrow 10 dollars from bank A
( D' \: B0 o3 T. U! Q% o+ ^- C; [Because bank A doesnt have enough cash on hand
  }$ }# n% t1 ~7 [- \1 Q; `6 Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E) L2 P  i- y7 h4 P  S
so does it mean if E failed to pay D,
" K" X0 v9 k# J  ~- K4 u- y" l3 tall the B,C,D,E have to go bankrupt?
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9 W) F1 J, Y' c& Y" hthe multiplier just tell how much money created in a whole economy, 6 |  L, x/ K9 x: x
in this case it doesnt really matter how much money is created,
9 c; L  {0 s% A3 S3 w( Qit's the problem of the debt itself.5 L/ S& B( y& K  E; {
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
& c# A6 ^: o* `) b1 p( `& d" @小弟一直都唔明...0 H( n3 c1 o* `8 c& W
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全世界都蝕錢，咁邊個賺緊錢呢?9 Y5 |# K  z" R( {! D& q
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無可能淨係有人蝕錢無人賺架嘛...4 ]0 u& K% j+ E4 |+ N. V( R. d4 \

2 `4 @4 a8 }( p; V1 Z敬請各師兄解答: v$ v9 I! N( U+ X- [& K& c
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Thanks

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那些根本係 紙上財富  
! q0 p/ N" D$ n+ N0 v6 [- w- I& z# y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 graphic3 H/ I% [) @: h/ v9 b- s& N

; x0 i7 [4 w6 b! B, i. r; P' v, Phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產- l( i) [2 q* k2 i, u& g
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& x5 ~4 I# q8 z4 {& u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& n1 k; q, S% z  s1 w+ C  C  ~6 x- p
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, X( P, V& O. Y/ {* l- l! U9 Z2 m/ A! 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$ o/ M( I* r. D
計番回報率就已經係50%,所以可以好好賺& Y2 [7 E) a* N4 ^# y- q8 R
前提係銀行之間要互相信任先可以咁樣借法
( P) G- B. W6 r# p5 T  \同埋個市場既前境要係好先得
4 |4 P0 \+ K6 E. F但當經濟一差,公司估值趺了,物價不升反趺$ T) F- |: e% d, I/ \* K
例如剛才說10蚊的, 趺到得番9蚊, % d& l* v! m3 [1 G1 ]# C, }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. P4 U( a# y( \# Y" |2 \
所以你就會覺得D錢好似蒸發哂咁* \0 P. @+ e9 K, s
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你都可以當標野咁諗, 個樣野多人可以狂升值, , {7 K2 Q. t, y; x. `+ @
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 \! J  [! Y) v1 ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   W% ?: s; k0 N
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0 e! |8 b9 S' Z4 X- |% ]
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
# f( S  [7 J* w/ C唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  j& ^. A* I4 ^4 _/ i0 X! n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & Z7 D$ }* I9 ~
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
0 R6 q: |# W3 N. z2 o8 }咁你話d錢蒸發左去邊? ...

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: k4 X) P  M% M* Q0 G, F) ]5 K+ q正係咁樣+ R0 I1 w$ Z" c# \1 n0 ~6 N
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( }# q7 h& y2 T" }6 A/ T) j
分分鐘佢地唔使還錢/ K/ E: N* _! L

3 c$ Z( J, _* t/ Y  A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,0 ^9 p% M' B4 i/ M' L2 m0 N
連國家都係問人借, 不停發債券, 印鈔票7 K, Y1 i+ X# a
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 A) H& l$ J- g6 K+ q: `; K. s5 Y
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, Q/ s9 X: {0 t' o; R; D2 {5 E
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; Q' `) E3 V! b0 m' @* L& W其實係...
0 j# S4 K1 [& Q因為以前未生產, 先消費
* _  O) J1 t8 V% N5 L& O, I而家就要多生產, 少消費