0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 K$ Z, u0 D# n8 u6 Z
Why bank will sell 借據給第三者???- s" z- p+ K- }  f
I was so confused.....

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講到尾都係賺錢+ d! }5 o' w, I, T3 T7 U
so銀行可以不斷放款: D0 I# r5 \7 w; {# M( P
美國的房貸問題散佈到全世界
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# U1 s1 }0 ^* P  T- Z  Q& V! ?mortgage loan
# l/ C; ?- _, m6 f; B>conduit8 \0 G- [1 g5 e7 g# |1 V3 }
>RMBS(Residential Mortgage Backed Securities)
: R4 n7 ]4 v1 F9 s4 a>arranger
+ u& Q6 j, j" V( r: n% G! E>CDO(Collateralized Debt Obligation)
+ G4 m! t9 _) L5 H! n% [  }& ?最後去到投資者

Kev

i thought it is the reason of rate of return.
7 B5 g1 c9 p. h& h0 `& g- nCDs could have different ratings, AAA -> F,
8 E. X# Q" s, X5 D% Bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
) c+ a( t4 [" h% omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& d  t# _0 O. T: [. Q
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 y+ F, Y' j, L, _" r8 Q8 t. f
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ a$ L  C- y  z( ]( Tsimilar to bonds, CDs trading in the secondary market have different value at different times,
; X) q% x# ~; X; W# G( mnormally the value is calculated by adding it's principle and interest. 9 K# z8 b+ [  q. }8 f* m; B
eg. the value of the mortgage+the interests to be recieved in the future.
& I3 K& L* n- Y5 ~* dbanks 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.! a5 c$ |+ j+ V0 X( p

& k1 }7 d/ ?3 Y" c+ jim not quite sure if the multiplier effect does really matter in this case.
/ \4 G7 }" F; t; P( R9 F3 Gin stock market, it's the demand and supply pushing the price up/downwards.
! D. y- d4 c& z, T( C$ M. jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 f- f4 p0 ]0 h6 p$ g4 K
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ x$ U8 V. \% L$ S. s
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.
, O$ X" {! V( V, F/ abut the value of their assets did really drop significantly.# m5 A1 ~% {9 M% }( j

% Z1 n1 V: ^. l+ S; i: J[ 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
6 F: [/ n2 S7 f) I1 N% NRefer to last example,
. j8 t- @0 n' b" Sthat means bank A have no money because we borrow 10 dollars from bank A   `+ s" ^& {- Y# g: y
Because bank A doesnt have enough cash on hand
5 T- X3 M9 ~5 [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; z! O' g) p! P4 Uso does it mean if E failed to pay D,
6 J2 q0 H. Q! fall the B,C,D,E have to go bankrupt?! J# ?( b: Q- p- Y, J, t5 i4 D/ j

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the multiplier just tell how much money created in a whole economy,
5 w1 `5 z' w/ {% Jin this case it doesnt really matter how much money is created,
4 |: A3 e# n+ t0 I/ X/ f9 bit's the problem of the debt itself.
  |' T) ?1 V2 fthe 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
  @: B: e( m+ D( N0 l小弟一直都唔明...7 z0 }. ?- L6 J1 q7 D
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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...+ @# [) Z( t9 q
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敬請各師兄解答1 o+ j$ q8 m, v: T* x3 B
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Thanks

1 g: T; M  n7 f, u8 l- ~- ~那些根本係 紙上財富  * q& m' M2 y0 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
5 c6 n8 ~6 T+ }0 e3 z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高: J7 N: j% d( v8 Y, v
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
& i2 n5 @4 z6 O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 l, k5 i+ \0 n( z3 h0 m  D扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: {- ~1 `& C+ K計番回報率就已經係50%,所以可以好好賺$ h1 \8 Y7 T+ n3 P3 I# C
前提係銀行之間要互相信任先可以咁樣借法
) }( D7 q, r+ o8 ]1 j- j同埋個市場既前境要係好先得
: J# }6 H. p: j" [2 l但當經濟一差,公司估值趺了,物價不升反趺/ R$ j" F% w2 _. X) k
例如剛才說10蚊的, 趺到得番9蚊, $ C9 f4 ^$ s/ S% _. F: P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 P: ~% `# B4 O- j' M, z3 q所以你就會覺得D錢好似蒸發哂咁
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$ a& z( d1 k- d9 g9 O7 l" X你都可以當標野咁諗, 個樣野多人可以狂升值,
/ g+ M9 v* |: o% 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,
5 K7 @) X9 O! E' J0 O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + i0 Q4 M4 g1 i! c2 g! v* z. k8 w
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
2 r( D0 w% B# J, g) y  m8 `7 @5 V0 W: l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.gif0 x' n* l% B% v
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 t' w% L/ o; _4 B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
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咁你話d錢蒸發左去邊? ...

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' e7 t& ~0 m# c. R9 d1 S+ `正係咁樣
* F. I+ d" z  N# r( v5 ]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 g! a/ U$ \+ L分分鐘佢地唔使還錢
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- V8 p% g9 S4 m! d" }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,$ U8 N( r# T9 w1 I
連國家都係問人借, 不停發債券, 印鈔票  v8 w9 F) k9 Q/ k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 i4 H% o& f, ]( N  f: {! [5 ~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# F, c$ {" e  {0 X
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 h4 r1 [% o4 g( b5 z因為以前未生產, 先消費
# }& e, o; q4 z而家就要多生產, 少消費