0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* g0 ]- i: s, A9 K2 rWhy bank will sell 借據給第三者???
. G6 A/ {) j1 gI was so confused.....

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講到尾都係賺錢* K1 w$ c+ r  e9 O$ X, ?+ H. T
so銀行可以不斷放款
& L; N2 p5 H; q  c1 m- ~1 `$ N美國的房貸問題散佈到全世界( b& L0 w7 U* S& G6 ?

- j# T/ r& a4 S$ kmortgage loan . m: S7 I- V3 Z" L* |
>conduit4 A) y! n( u0 o1 H0 C: b, D: H9 y
>RMBS(Residential Mortgage Backed Securities)
( F$ f, ]4 d/ I  _) N>arranger
+ Y% I& E- _+ l& t9 i>CDO(Collateralized Debt Obligation)- V" d7 M( b. I, y3 T
最後去到投資者

Kev

i thought it is the reason of rate of return.
8 l: M5 b  u7 z% f* kCDs could have different ratings, AAA -> F,/ d; g- m/ V1 y7 w6 F  j: R/ r. l# @
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 x& a" g; M) ~/ E* lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; F1 l5 y2 U. W$ x& R9 J
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 J" O$ _' J3 l+ @* N+ R1 y' ~0 H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 T& q( }" U+ s7 ?9 e
similar to bonds, CDs trading in the secondary market have different value at different times,1 C" K7 Z+ C# G/ y( q
normally the value is calculated by adding it's principle and interest.
0 Q1 \( y6 `: o7 \( J0 D# }eg. the value of the mortgage+the interests to be recieved in the future. 6 C$ e( d- S& w& ~7 N. g
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.5 v5 ?: ~' ^' Y) ~2 I
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im not quite sure if the multiplier effect does really matter in this case.$ S7 X" u* R8 V7 ]
in stock market, it's the demand and supply pushing the price up/downwards.
5 ^, I( l6 W/ `2 f: v; X+ XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, `/ k7 |6 _: p9 Q" ^/ p/ K. xA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 p1 m) \  O; v; CThe 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 j  K0 e' B" O8 S! Lbut the value of their assets did really drop significantly.
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# u' T+ X. z+ S[ 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
* W- @# Y) V! {7 P% b5 M& ~1 [Refer to last example,
5 X# C8 l3 W% ithat means bank A have no money because we borrow 10 dollars from bank A 0 p$ d% P* E5 c  b1 c/ v  E( T
Because bank A doesnt have enough cash on hand
* w" f, @. Q( H8 jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  A, S3 Z; Q: k# I# {- bA->B->C->D->E* N- R! P  ?) G0 b" U8 o
so does it mean if E failed to pay D,
6 d/ S, i. G3 R. r; ]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,
! o) ~8 r& c9 min this case it doesnt really matter how much money is created, & d$ W0 x0 ]1 d  |
it's the problem of the debt itself.) P' R# w* \! s4 v, }* \
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
* X8 w- p' X8 ]0 e; }小弟一直都唔明...5 N3 i7 K4 |  ~; _- E# B
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全世界都蝕錢，咁邊個賺緊錢呢?# n, v7 b5 B5 d+ L7 }

+ \4 y$ K# Z: q0 o+ t$ x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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Thanks

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那些根本係 紙上財富  , E. }7 \% e6 ]" A
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
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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: F2 l$ ^2 f9 H7 _& y6 i' u9 y1 @) V
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 i; c3 O' r; c
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
# M9 }& K3 z' k' k( |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' F1 W, n+ {7 ?& v( X扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: `; a' R# R9 o# ]5 o計番回報率就已經係50%,所以可以好好賺- U* [  |( g1 d- u
前提係銀行之間要互相信任先可以咁樣借法
" r$ P- ^* W6 A& v' C9 J同埋個市場既前境要係好先得
8 b+ M9 |3 B& M" K, Y. d1 a但當經濟一差,公司估值趺了,物價不升反趺
0 Z+ K+ c) P. d( B例如剛才說10蚊的, 趺到得番9蚊,
* e; L4 f5 L) V( Z7 b咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 y4 V  W% N" \- z3 }& e- e
所以你就會覺得D錢好似蒸發哂咁
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" \( C3 Z. p8 \你都可以當標野咁諗, 個樣野多人可以狂升值,
% S4 l4 O* p% M, ?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 l1 Q4 N; N5 t5 f9 ?$ p9 [! U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; T( r7 F5 o  x8 T; D# `
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, n, o5 A2 z. H* v
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( V" y% \# K3 B& I6 u' B) [) z
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' F( n; R, W* j" [" S: v3 }, }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & Z  \+ z* Y) `
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
- N+ e0 t4 z# f# C% n咁你話d錢蒸發左去邊? ...

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3 M. ?/ e% q" l1 }: |( M5 D正係咁樣1 Z4 K/ ~: ~. w' J. U: p* \
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7 c! U3 |6 E: C( [" D2 C+ u" k2 V
分分鐘佢地唔使還錢* i% B: {4 F! W5 K) j

/ @# D5 R; |2 G. }- m$ F: X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,# O8 c) f/ a8 z/ X8 E
連國家都係問人借, 不停發債券, 印鈔票
8 K( F- d# v: Y, V一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! v  Z, ?) }3 R/ B" V+ x" r( 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
4 p  J4 X( ^( q咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
9 f. k2 K: w8 Q& T9 I& U+ a) g因為以前未生產, 先消費
/ B# ], _( i( v: a) P9 F0 R) \而家就要多生產, 少消費