0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  G6 X  i, H$ l1 y4 l
Why bank will sell 借據給第三者???
# J) T. L/ i# q2 wI was so confused.....

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2 q  I( B9 e2 w/ b+ n1 S  y2 B  }講到尾都係賺錢) e6 Y6 t  S3 N/ q  |- R
so銀行可以不斷放款3 Q. U; P! L) S9 T1 o
美國的房貸問題散佈到全世界0 }* u+ @0 [; i& m
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mortgage loan ' k) {0 T2 G$ Z3 Q
>conduit
: h" Q2 X; L3 _& t>RMBS(Residential Mortgage Backed Securities)' ~4 T) V6 `1 \, |
>arranger6 j0 W# t& F! E# l
>CDO(Collateralized Debt Obligation)
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Kev

i thought it is the reason of rate of return.
# w4 K8 W# `% l" e/ {CDs could have different ratings, AAA -> F,8 L; Y' b. L/ i& b
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" Z& m; I$ O. f5 v3 P( ]; h" tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* v; W# \) A' q( Z- B) B9 m9 w7 c$ cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( i0 ^  \6 j+ U6 D( [
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 S3 u4 X6 q1 O* Bsimilar to bonds, CDs trading in the secondary market have different value at different times,
' I+ g3 Q! @4 N: l/ knormally the value is calculated by adding it's principle and interest. : M$ @3 T6 c7 r& w' g. C: a
eg. the value of the mortgage+the interests to be recieved in the future. 2 U9 R  ^7 Q9 G7 O  H* v
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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3 v! ^: B$ q: I% _  g1 |im not quite sure if the multiplier effect does really matter in this case.
# w7 ]+ B8 L/ g; uin stock market, it's the demand and supply pushing the price up/downwards.
& @: h* L0 P5 h/ BFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 i& b! I6 a0 J; x# ~2 x# d/ C
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% ]- c. f+ \% S# ^# G3 \& I: N
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. 8 v* X; e4 X+ f  b7 ^/ B' x  s
but the value of their assets did really drop significantly.
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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.gif2 U0 G, S7 b. `3 u( M
Refer to last example,
& v' z2 h, n; T3 Zthat means bank A have no money because we borrow 10 dollars from bank A 4 Q5 a) W  ]" r4 |4 @0 W% q6 y  {
Because bank A doesnt have enough cash on hand
3 l" n0 D: R2 s& v7 r; Ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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' E% \; E$ r! H. e/ X- ]A->B->C->D->E
3 O, i7 b& @, L8 |so does it mean if E failed to pay D, 9 R3 T2 \- i) F' I+ X! K
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,
! b  s1 j) e; O" d0 lin this case it doesnt really matter how much money is created,
8 R2 M8 ^% k' O: o: E: B) h4 z. Mit's the problem of the debt itself.* v0 n- X+ W* _& `% A1 c
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. y) V0 }4 }
小弟一直都唔明...
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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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- X: b; S' @1 h8 A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  
; s/ P0 W$ x8 z, b( _/ ^( p, n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 graphic0 X! e; s; d) \- w+ V5 I

8 g, ~& z& `" b: L5 F* shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 g) _2 x! z; z" k7 I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  Q" g) p  ~+ K, y
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
6 x7 ?% @* `; N! g& o個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ o& x( l9 ^' a6 D( g扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 }$ S% y' P+ H; b
計番回報率就已經係50%,所以可以好好賺
0 ^; A8 K) Y4 y前提係銀行之間要互相信任先可以咁樣借法
8 }6 ~) m* }% d% k2 \同埋個市場既前境要係好先得( S: x! ]6 f* G1 y: W* ]) [
但當經濟一差,公司估值趺了,物價不升反趺2 S# \+ M& ]- Y9 x+ {
例如剛才說10蚊的, 趺到得番9蚊,
* a7 D! I7 n0 F  m/ Y9 t2 M1 l' G% R咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 H) _) L& @! B所以你就會覺得D錢好似蒸發哂咁/ o- I7 |; H) Y. N, `% L

* F7 l1 f# |! `1 P% d你都可以當標野咁諗, 個樣野多人可以狂升值,
* k0 b) l) R2 e) m/ w. D8 T( k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, 0 S2 b- C: C% V0 C$ ?4 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 x/ D3 J$ Z5 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5 L# |; G5 G1 r) h
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.gif9 r* v. O  O1 l  c1 A! o
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * Y5 s. j) G0 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 x2 }- L* i7 b; Y2 N$ o; D6 e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. d& a$ y2 ]$ ?& m, ^' u1 e; j咁你話d錢蒸發左去邊? ...

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7 t  f1 D' Q6 P正係咁樣
# Y5 w. _0 X4 v9 {+ ]8 V/ Q9 @+ D$ T; z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* W* u' W( X  v% x0 I5 i% ?) s4 V" n
分分鐘佢地唔使還錢$ k) \% j- {2 S  M5 U, Q9 Y
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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," S  u2 s/ r9 K
連國家都係問人借, 不停發債券, 印鈔票
/ q, D* q8 o# Q8 l一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 D" y4 G- }$ v8 h2 @  ?4 s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! N% _  E/ n( N& V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
7 f, [$ X* n5 H4 J因為以前未生產, 先消費( U) D5 w' f: U8 y6 [
而家就要多生產, 少消費