0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ @" N( S  i5 k' z% @3 Q4 \+ l
Why bank will sell 借據給第三者???
0 p! \/ \% N2 y& ^/ [I was so confused.....

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講到尾都係賺錢0 Z+ w1 }0 }: `% c& c
so銀行可以不斷放款; e' x9 K- W) N
美國的房貸問題散佈到全世界
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' |, F  k# l. ^1 l# q$ F6 ?mortgage loan
0 B1 K& z2 }* }) J  b! I>conduit
$ V. v8 V/ ?- m4 y) O>RMBS(Residential Mortgage Backed Securities)5 r: [" W5 ^. i
>arranger
! E3 Q! Y# f# K; o% n4 d, N! F>CDO(Collateralized Debt Obligation)
1 X3 s$ X$ e! q7 Y2 u' `6 E最後去到投資者

Kev

i thought it is the reason of rate of return.
; I/ ]! O8 V4 RCDs could have different ratings, AAA -> F,
* |( s9 b& a, i0 D4 t( amore risky ones would have higher premium (interest rate) as a compensation for an investment." s, D! K. g1 z" P) J  p1 K2 U3 c) P
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 o3 n& Y& f# s5 i: L/ g
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% j+ }( W. O% i: k" ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; f8 M* _4 S  U# q
similar to bonds, CDs trading in the secondary market have different value at different times,
# d% w0 I$ `% K: h+ K' o3 U7 wnormally the value is calculated by adding it's principle and interest.
  h( `/ x% n; G) ?' Leg. the value of the mortgage+the interests to be recieved in the future.   D2 F/ r: r& D0 ^
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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8 e5 y$ O" P8 h% U7 R+ ]/ cim not quite sure if the multiplier effect does really matter in this case.
& B3 r7 \, i6 Qin stock market, it's the demand and supply pushing the price up/downwards.
+ b+ s0 S  A+ D1 OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* p4 o8 T2 p# K6 [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 E/ l: F1 N* l% [5 H: f% {
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.
/ T) W4 c  h+ n! {but the value of their assets did really drop significantly.
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% d& ]/ ]6 k4 T3 A/ F( 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
& g, p# g8 f. K/ z2 B4 |Refer to last example,; N8 [! N1 {7 y/ w& A
that means bank A have no money because we borrow 10 dollars from bank A $ L$ p3 r; N3 T6 \& L) A
Because bank A doesnt have enough cash on hand ) X* @! p6 m; B4 j7 f: W4 ]7 B4 p
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  M1 `; N: q4 q' c$ x7 ~8 t! tA->B->C->D->E
6 I; X. D$ n3 [. k6 k; Q2 bso does it mean if E failed to pay D,
% b- I& @$ u: n+ {( F+ eall the B,C,D,E have to go bankrupt?
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& e& Z$ ]1 f& G1 gthe multiplier just tell how much money created in a whole economy, ' h9 G% {, ?$ Z7 c
in this case it doesnt really matter how much money is created,   c* r# w4 o( |# c- @8 k& e2 K
it's the problem of the debt itself.* \6 q' h! B" I( ~  o& 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.gif2 k  O! N) r; w
小弟一直都唔明...' K4 U2 r0 z5 T3 w2 i: n

! A4 e+ \3 T' p8 L全世界都蝕錢，咁邊個賺緊錢呢?  B& D$ C" Q5 t2 ?8 a/ I$ b

+ v) F: t3 w: `無可能淨係有人蝕錢無人賺架嘛...3 u" a* Z1 `$ I! |3 k
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敬請各師兄解答9 j) b. @/ O6 T# ?( g$ N( s' m  \/ C$ y

( T. K, O! |1 Z5 L" MThanks

, W2 }8 z. Y. K5 y那些根本係 紙上財富  & y# J' G# C$ c8 g  L
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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  K: R3 A6 N  ~( x8 W+ c/ Q) thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
; Z/ K+ k+ P4 x3 M當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 r# w/ f" A: W) d5 n0 Q; u8 B
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
: L% _8 a4 s3 I, K) W4 i3 s1 n個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 I& y% S$ \+ e. F0 b' Z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' R# i  ~; w7 E' s7 W計番回報率就已經係50%,所以可以好好賺$ L; X+ R* O0 G% Q: I. \% e8 Y
前提係銀行之間要互相信任先可以咁樣借法2 ^. k% s6 t& M( @1 S
同埋個市場既前境要係好先得# A) ]1 c2 a5 j
但當經濟一差,公司估值趺了,物價不升反趺0 o- N" B, y2 {  b/ u
例如剛才說10蚊的, 趺到得番9蚊,
. T* O9 ?3 x; Q: Y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ y( a) O( S! P, B
所以你就會覺得D錢好似蒸發哂咁: I* f" e; K6 U6 ~+ w- \
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你都可以當標野咁諗, 個樣野多人可以狂升值,
2 N5 `$ Q1 w2 Y5 Z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,
% U2 Z3 Q0 }: ^, h: Z% [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ k, m' Z4 B% O& C0 V) x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! r4 s6 v; u6 j
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
0 r2 k+ ^% W: O5 e: U' i6 O+ t4 r" z唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 h* h1 v4 g, k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 P8 P% |: u7 [& u1 p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
% {7 N' i# a* Y/ {4 r咁你話d錢蒸發左去邊? ...

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: x, h) T# g  a# C正係咁樣7 T, S  \9 P9 X0 R3 K
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
+ G% G5 S5 Y2 L) {- G. N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,. F1 e% v0 Q$ H4 N" F
連國家都係問人借, 不停發債券, 印鈔票
$ U. x& _8 v1 m) m( s& P. r; [' P5 t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: ~4 b3 |6 G" f4 r
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
1 Z! e$ Q! U) J7 i( T咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! V% h9 z& v' K: d# N
因為以前未生產, 先消費4 \* a! l* O( X
而家就要多生產, 少消費