0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 A* _! e. k' k# v) yWhy bank will sell 借據給第三者???
( Z! a8 Z5 m4 A6 U, PI was so confused.....

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) Q8 d; |/ \2 L6 L/ S. L0 w  {講到尾都係賺錢5 B; N/ a( R5 s. C8 [
so銀行可以不斷放款
, B; @& }% m. y' v- S( m美國的房貸問題散佈到全世界
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mortgage loan & K" y2 F. ^0 W, N+ k2 M
>conduit9 T8 W' ^  t# ^) q
>RMBS(Residential Mortgage Backed Securities)
4 X, w3 G7 V- y' t, W4 l>arranger
3 w, a7 u, B: F+ m6 E4 }>CDO(Collateralized Debt Obligation)
1 z9 z0 b7 f0 r3 h& Q- v最後去到投資者

Kev

i thought it is the reason of rate of return.# n/ N* j  Y+ O2 U
CDs could have different ratings, AAA -> F,
, V+ f; |; I, D& D5 D' u3 u, k- \more risky ones would have higher premium (interest rate) as a compensation for an investment.
, _0 r- e) K0 R9 Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, M# M. N" C6 e5 {5 C. f
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.! |7 E3 {* v- m' n, Z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 ^8 ^; o0 b- u( h4 b* z
similar to bonds, CDs trading in the secondary market have different value at different times,4 W( g' P; H: s) s5 d0 v) D
normally the value is calculated by adding it's principle and interest.
. v  ]. M! [7 I9 Leg. the value of the mortgage+the interests to be recieved in the future. * l5 j& {% e4 {5 A( _5 k
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.  {" H, B3 f! U/ D6 X' R
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im not quite sure if the multiplier effect does really matter in this case.1 N- ?7 a  w2 `4 {
in stock market, it's the demand and supply pushing the price up/downwards.
5 m0 F; {! y8 W& b: I2 uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 a6 R  ?* m) W, x  q8 [' PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  G$ S) q7 L% N9 \- l0 `
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. 1 l, c0 j$ F+ N& M: W9 W0 ^
but the value of their assets did really drop significantly.: K6 Z2 w$ @/ c" F. t; ^- n* J& H

/ _, b7 j- [% C6 @8 |[ 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
$ F' f5 [/ V# z2 A: S+ ARefer to last example,8 ?5 d% c7 F0 y1 ^+ Z1 I% d
that means bank A have no money because we borrow 10 dollars from bank A
$ P4 J  _, d4 x9 b: a8 {Because bank A doesnt have enough cash on hand
0 p& {8 n  `3 ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E* w' E( P# u% B1 C. P% m5 N  h
so does it mean if E failed to pay D, 4 m; U/ N- ^* S* _5 Y0 {
all the B,C,D,E have to go bankrupt?6 d3 [1 ?* T1 D% u

1 W' p' r3 t) x2 ?9 I" r8 c
8 `8 d6 {, w! P: b4 Cthe multiplier just tell how much money created in a whole economy,
$ i& ]' T5 Y7 X; i) D$ M9 ]" r1 X0 Ain this case it doesnt really matter how much money is created,
4 I# N- }: p; c  j3 c" {. mit's the problem of the debt itself.' M, T7 X, ^( V9 f  o# M; P( N
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' i+ W" _7 H; b
小弟一直都唔明..." H7 H) J+ K; G5 v7 @7 h, k- g

) G# a' G- o& k' |: e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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敬請各師兄解答
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* l, `+ M" T( p" e5 mThanks

" `& f8 ]: e6 U( c那些根本係 紙上財富  ( \, b4 j& T% E+ C  S% q# h
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+ g) `0 Q% D8 D) {" F
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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
4 D$ Q( N  t+ g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( ~1 w& B: W2 H; z' Z8 d! 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
# C( m! g* l$ S: T個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( G" d$ q. m# Z( r7 q  d, {8 c. r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% k. P' _. b# Z
計番回報率就已經係50%,所以可以好好賺% W9 U- T6 d( Y  T4 ]7 ]) ~$ s
前提係銀行之間要互相信任先可以咁樣借法
2 _" r, K+ U: L7 ]! s" x, m; H同埋個市場既前境要係好先得7 w8 F0 ~$ M3 _5 Y: Q3 d  f- v
但當經濟一差,公司估值趺了,物價不升反趺2 `$ A2 p3 z' E
例如剛才說10蚊的, 趺到得番9蚊,
6 p3 g0 k; G% G2 O/ W咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! E6 x& f' ^  U
所以你就會覺得D錢好似蒸發哂咁
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* x3 j. J/ \0 ^3 _2 M你都可以當標野咁諗, 個樣野多人可以狂升值,
* S9 d4 z) |6 m' y/ b+ l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, 7 B  K0 K: |7 k5 \% b- `" T+ w+ {9 Y/ K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- R$ Q7 z! t% g% x" _/ s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
9 Y) Q1 l1 ~, J! R& E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% J% `0 G; Y: r9 g2 m/ u
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) |6 N" ~) {3 ^$ F8 M' m7 E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 n' R" r5 J2 @6 C; A: v4 g, `, u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
' k1 I6 h1 Z+ K4 [0 O3 F" n2 l0 {, j咁你話d錢蒸發左去邊? ...

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正係咁樣( }8 [9 H& W0 z3 [5 ]0 D2 b' o6 y* {* N
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
% |) ~; a! O" E" _分分鐘佢地唔使還錢8 Q$ q  R$ Z: Q; P4 _! Z

1 b3 Z( _( e* S3 M4 T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,
+ q9 d6 h5 R7 J# a6 D6 F5 K連國家都係問人借, 不停發債券, 印鈔票
2 q1 e1 j- X3 R* S$ I, O$ a" H一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" m7 P: Q1 c$ w& z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.gif6 Y" _, R5 p  j5 p  }- Y& e6 {0 H7 f2 |
咁而家"爆哂煲"算唔算先至係變番"正常"???

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( K8 L5 h5 ?+ A2 N/ }% O+ r其實係..." f" A( C0 K/ C: L9 A( i1 _
因為以前未生產, 先消費
' j7 Z7 I* z2 p) E" F而家就要多生產, 少消費