0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; x, V, E  o; ]- P! b- qWhy bank will sell 借據給第三者???
4 D( ?. J3 C2 x3 Q8 sI was so confused.....

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講到尾都係賺錢
# j" W* H, V0 @) S. z) v# tso銀行可以不斷放款( ?+ Q( p, @( l) V3 @9 ]& p
美國的房貸問題散佈到全世界9 ~9 J" M" ~; A5 w

, T7 H4 R' O+ f* m( U# ~- Q5 _mortgage loan ) B2 y3 _. v6 h$ p! \
>conduit
* L$ g) ~. i+ U4 ~2 j>RMBS(Residential Mortgage Backed Securities)
, O* c" a- F# H5 ^>arranger+ k$ ]& x  ~/ K3 H
>CDO(Collateralized Debt Obligation)5 r# p( h+ R; d  ?: R
最後去到投資者

Kev

i thought it is the reason of rate of return.
) h" y" I( i! `% r! g+ r1 cCDs could have different ratings, AAA -> F,
0 p; E0 q; o; }: e: D' smore risky ones would have higher premium (interest rate) as a compensation for an investment.
& u$ B$ B$ W, u- I- Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 A, B" I- D7 i/ N% {
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% ^# {( i/ X6 e. B: [
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 v7 m0 g) z9 d. gsimilar to bonds, CDs trading in the secondary market have different value at different times,
8 }3 w- z2 S9 M/ {9 c2 Z" M/ Dnormally the value is calculated by adding it's principle and interest.
7 ^+ [; D# _' J) [8 ]eg. the value of the mortgage+the interests to be recieved in the future.   e5 `6 \7 V4 g' S
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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! i8 A- P. W& x0 r1 Cim not quite sure if the multiplier effect does really matter in this case.# y: o" \0 w) v6 I6 k& j1 j9 z
in stock market, it's the demand and supply pushing the price up/downwards.4 c( F! ~2 h; W" l# u2 O/ M8 m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ F1 r2 A/ `% |& v9 B! J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 Z3 B! s1 ]' n5 x/ @
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.
9 V$ F1 _7 l$ v% h2 }% jbut the value of their assets did really drop significantly." Z1 ^$ |0 G* F3 t8 M* V

( ?$ r/ j: z1 a% X[ 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. D% P( ^# R% K% O
Refer to last example,' c2 c+ ~5 g. t8 H
that means bank A have no money because we borrow 10 dollars from bank A
1 {: q: l3 _6 f3 y$ J7 kBecause bank A doesnt have enough cash on hand
; E0 |% f( n* ^- F6 Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E5 B# q, D# E6 y: M
so does it mean if E failed to pay D, * A; V0 a) d( h0 P
all the B,C,D,E have to go bankrupt?$ x" r2 v/ X) t- l" y" x
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" l) P5 l* |4 J1 A& y! c5 Z4 H  |the multiplier just tell how much money created in a whole economy, 7 n4 J6 j3 |# e/ v
in this case it doesnt really matter how much money is created, + |0 V4 B% _: J9 B+ U$ v/ f
it's the problem of the debt itself.
1 P3 b7 P" D  tthe 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
) m: C" `# \& k7 m  X* }* H小弟一直都唔明...( o% m7 J* w" m8 s2 Q, H

3 S& R2 j0 G- g* F4 m全世界都蝕錢，咁邊個賺緊錢呢?
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6 D8 {# i# r! a8 _5 v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
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% X0 V) {0 M5 A% {' a1 D# LThanks

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那些根本係 紙上財富  
7 V- [( o0 }! h: 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 graphic4 [- M$ k6 s; D0 ~8 f* O

5 i, w- k* H7 ^* I7 rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
: R, J1 n* P& `3 V; j8 A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, T  o6 p* z" e! 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. p. \- X4 s0 q6 q8 Q3 `3 b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ \( H5 L0 f1 Y+ z/ m扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 y, q+ j' W# c* \( L- W4 ]- S$ J
計番回報率就已經係50%,所以可以好好賺& O! b5 D6 g  N: O. E* x
前提係銀行之間要互相信任先可以咁樣借法
! ]7 {/ p# I/ Y& i9 U同埋個市場既前境要係好先得
% B/ P2 ~9 ~; j, v& f* Z但當經濟一差,公司估值趺了,物價不升反趺
; {" P9 W- n& X4 G( u" J# Q例如剛才說10蚊的, 趺到得番9蚊,
: C. v; H) v7 Z, w6 I咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# _) R5 v% |. ?4 y1 Y所以你就會覺得D錢好似蒸發哂咁
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& ]9 L! S* T7 M% s1 ^+ ?- d/ E你都可以當標野咁諗, 個樣野多人可以狂升值,
0 _# v) R+ C& Z* S5 x3 `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, 9 W6 N8 g& ]& H7 e: f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( L* a( {' k5 P6 G7 K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/ B' _9 Y+ D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
. t4 k$ a5 w4 G( b' V唔係d錢蒸發, 而係比美國佬洗晒未來錢, / N1 G  c8 X1 @0 j1 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   b$ i2 f3 S& B6 M/ |: J+ c* E4 M/ L1 |
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
& u$ E) W1 z3 H8 h7 i: B咁你話d錢蒸發左去邊? ...

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正係咁樣. n  Z( E5 i- p+ Y
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  _3 A) j* L1 G) k! a; S
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,
6 j: R3 Y: s4 x( p& A) V9 r* ^連國家都係問人借, 不停發債券, 印鈔票
0 q. h% Y* b/ W' N) M  a0 j  b6 ~一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( n) G; \, N3 K# 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.gif9 R: @6 B" S& m9 B" x
咁而家"爆哂煲"算唔算先至係變番"正常"???

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) |! m  I4 \# I! s. B) c3 E- n其實係...  n, U7 X' U, a; w2 I9 n
因為以前未生產, 先消費* y5 H1 ?8 N4 A) a1 ~
而家就要多生產, 少消費