0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( d: J& g% _7 u  W  V4 _' f, wWhy bank will sell 借據給第三者???' m6 o+ h& s. n* D1 U2 U% X
I was so confused.....

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) k7 A" k& f9 n# i' ]2 a講到尾都係賺錢  Q0 o8 h$ g" E4 l, }
so銀行可以不斷放款/ x- c3 w& P( X6 h* @
美國的房貸問題散佈到全世界
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mortgage loan 6 B" m, C% ^: z7 H+ i! R5 c6 \
>conduit
  S& e8 I7 p6 }# W3 U2 U" o>RMBS(Residential Mortgage Backed Securities)
2 [% L# x9 Y8 z4 n  _/ n' t>arranger
6 _7 H4 m% ]# w+ s1 W. t2 O0 i+ Z>CDO(Collateralized Debt Obligation)8 E) P) @% L2 p% W, _1 ^
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 y2 d8 |# y' w! v- e; ^: S' RCDs could have different ratings, AAA -> F,
# W4 [) c4 R7 C% imore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 H& O6 }' e6 amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" z0 a+ n1 ?' c0 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 E, E' j6 G6 T& bAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; h7 D9 b) i& d& O  \5 j  asimilar to bonds, CDs trading in the secondary market have different value at different times,% V* ~+ x, W" _$ Y2 G1 a4 q
normally the value is calculated by adding it's principle and interest.
4 q4 ]5 \* E6 Y  p; [# X7 ~" xeg. the value of the mortgage+the interests to be recieved in the future.
* S' {- U8 w3 g0 x9 z$ b& x1 k! ]- Vbanks 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.9 g0 ^! N! u" d

# d2 L% p$ L7 U! I" a6 \: kim not quite sure if the multiplier effect does really matter in this case.0 d$ b4 o0 d) H+ i
in stock market, it's the demand and supply pushing the price up/downwards.) Z6 w: m6 }4 l- h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# Q; R) R* w  r4 ^' ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! m$ i, l; ^1 B4 I9 ~
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. . c& a: c. Q0 V
but the value of their assets did really drop significantly.+ Q* o; g/ y* `+ V; t! y7 {) Y
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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; z! E# i/ q$ B! a7 O7 s( w9 H# U
Refer to last example,
  i  k3 I# F. D( gthat means bank A have no money because we borrow 10 dollars from bank A 9 Y0 F2 k. P6 ^- S8 A4 S
Because bank A doesnt have enough cash on hand
9 b: ?  C* E' U4 ~2 O4 Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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( w2 d" M# B  B# @A->B->C->D->E" ]2 l$ t; `& d9 n" }5 V# C* k0 d* _4 U
so does it mean if E failed to pay D,
7 w6 C5 ~, j3 G8 a+ P6 n3 ~( nall the B,C,D,E have to go bankrupt?
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  a4 P0 b" X' M) s' m2 Ythe multiplier just tell how much money created in a whole economy, $ L. ]; d5 H; l! ^6 X( F  @
in this case it doesnt really matter how much money is created,
# G* {% [1 J* \0 p% x/ x- git's the problem of the debt itself.7 b" m& X3 M3 l8 ~
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
- x6 F/ l1 _- M" y* J( S小弟一直都唔明...
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3 @! N2 p0 h1 H+ v: b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...2 [+ [2 c, e. E" _5 F9 m% P$ w: r" g

  K1 ~- P" \! z1 m) _7 g* `敬請各師兄解答
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7 A  t9 U6 T4 v. ]( f. \: jThanks

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那些根本係 紙上財富  
$ W5 k9 e, S  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( C. \. ^3 s% l3 n0 D, _- z% X4 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. Z9 T9 l  c, b* @2 w$ F4 W9 j& A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% {) q* S" Z9 [" m3 I* [! T$ k
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
; w. z) z% ~3 V, ?1 Y9 d* T, Y個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 a4 L4 w' z7 {0 ]/ Y/ j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' m. @7 i# U' r& b
計番回報率就已經係50%,所以可以好好賺
1 P7 o& D+ [, D5 {( ]4 G  m9 n, Z前提係銀行之間要互相信任先可以咁樣借法
1 a7 a+ h1 \' j/ A& x3 p, J2 `同埋個市場既前境要係好先得  I) s9 Y: w% Q2 S+ _
但當經濟一差,公司估值趺了,物價不升反趺7 Z0 z7 o9 |; S" [1 C
例如剛才說10蚊的, 趺到得番9蚊,
$ F) y, E. G8 X5 e% y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 R! q+ }- A6 n所以你就會覺得D錢好似蒸發哂咁9 W3 p' F) i3 @9 o' y2 }

  K1 e2 C; S; {. Q' s: b你都可以當標野咁諗, 個樣野多人可以狂升值, : l' {. H" {1 x1 K, 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, $ c: u3 n7 ^+ q4 V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   R5 `2 ~+ g9 Y, B% T: 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- ?( s+ i* v! b& z4 ^
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.gif6 Q/ \9 Z! _# Z& e: {* X
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! }0 k) j2 v) D" [) b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( j, ?! I& n2 J# f+ 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
) {5 Z& u3 t( n$ q咁你話d錢蒸發左去邊? ...

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正係咁樣
) T9 G& o# C' m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  a: W6 ?6 V9 O5 _
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,. T1 _; H" ?" q# I+ i/ ]
連國家都係問人借, 不停發債券, 印鈔票
( a3 y5 g$ Z8 p$ k4 h* {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 C. D" Q+ J! 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.gif
  @/ i9 m6 ~5 Q咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! l/ k4 F7 _4 }6 i. e/ o
因為以前未生產, 先消費9 C4 F5 L4 A9 Z
而家就要多生產, 少消費