0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# S& h( K" q6 |) ^7 mWhy bank will sell 借據給第三者???
+ g# `) J+ e" m6 pI was so confused.....

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& E: t7 G7 r' M, O" n8 e講到尾都係賺錢
2 s: X/ V+ t" @' z3 i9 |; ]so銀行可以不斷放款& V$ w# F! v7 B0 N' I2 Z- k
美國的房貸問題散佈到全世界& f+ X& w1 E% X; g: ?

& [4 A; J+ K8 N$ T! ?9 Y* Wmortgage loan - c5 B/ `% c1 ?4 i9 D
>conduit
/ D! i9 E2 R8 ?1 V7 k! Y& O1 p4 V! D>RMBS(Residential Mortgage Backed Securities)7 |6 g7 b& i' W; ]" Z5 B8 {
>arranger: @9 B& C+ I6 k
>CDO(Collateralized Debt Obligation)" X% Y* q4 e# L5 A# J, q
最後去到投資者

Kev

i thought it is the reason of rate of return.7 ~: Q. o, t5 C1 L; G& C% P; k
CDs could have different ratings, AAA -> F,
, v% W8 F' n% _& A  o: P) ~0 D# hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
3 T( Z: \5 n' X: hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% a/ G* X* u& C( Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 j% o( T8 S& Y$ s- HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* ?5 [! ~6 H+ [+ osimilar to bonds, CDs trading in the secondary market have different value at different times,
8 d# r6 g' J. O( G9 s; S. U& Q! `; nnormally the value is calculated by adding it's principle and interest. 2 M/ t: @  I3 l! ]6 {0 h2 q
eg. the value of the mortgage+the interests to be recieved in the future.
. w4 N8 J& R2 M; R4 d! B0 kbanks 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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im not quite sure if the multiplier effect does really matter in this case.
# `6 Q' G, L2 e6 zin stock market, it's the demand and supply pushing the price up/downwards.1 M6 R& B9 W0 c
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  M5 ^0 B6 x1 c2 o* K2 qA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ n& _8 N; H5 m+ ]0 Z
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.
+ k( D) w2 {" A/ Ubut 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.gif% C9 e: P; @/ Y- o& G
Refer to last example," u) o" O1 q' @
that means bank A have no money because we borrow 10 dollars from bank A   K/ Y& i' x, j) p3 C! m4 j- d
Because bank A doesnt have enough cash on hand
2 ]" N, g" z9 z1 o- R8 H; ^) Ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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" X9 v; c7 P$ b5 `' m, h; WA->B->C->D->E* U% R9 s" ~' ?# ?6 N
so does it mean if E failed to pay D, 6 \8 @; a* C7 X/ P
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, 9 o( A. I2 i( O$ _) N
in this case it doesnt really matter how much money is created,
; x. v4 c# A8 x! j, Fit's the problem of the debt itself.
; s0 B8 O" z& Z6 q8 }% L1 Tthe 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
" @5 n7 H/ y, P; t& W  b5 S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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5 G, J& Z+ N- [1 ~3 Z無可能淨係有人蝕錢無人賺架嘛.../ x8 ?2 A) R' R8 T3 U6 @+ Q
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敬請各師兄解答# V" }  t& Z) M3 F
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Thanks

$ x, p4 n( a! f* ?7 }$ C/ k
那些根本係 紙上財富  
& k- L4 R% R2 o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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: a2 N9 b7 j( u$ m5 S( {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$ x  `, o& R: E# y+ Y5 T
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* o  k) I! Q* J/ p7 p! t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! v2 G% U# _* V* R$ P9 G0 A, F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, E; q) l7 q: i- u. O0 [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. z7 r6 y/ i3 c( \& f計番回報率就已經係50%,所以可以好好賺3 K7 s/ {8 w; d$ T+ H8 C; q
前提係銀行之間要互相信任先可以咁樣借法5 Q# |1 A3 E4 o* l$ ^
同埋個市場既前境要係好先得& \3 }/ ]$ Z( |9 A
但當經濟一差,公司估值趺了,物價不升反趺
! V! S% Z) }+ D# |  Z1 k4 p2 r例如剛才說10蚊的, 趺到得番9蚊,
. `* q- i; e' V0 w& u咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- i6 A* ~1 w- u0 S/ [  \2 Q
所以你就會覺得D錢好似蒸發哂咁
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. Y7 s( k6 e) O1 ~5 `3 B$ B你都可以當標野咁諗, 個樣野多人可以狂升值,
. r2 ?& ]) q. j9 Q+ Z' D0 j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,
  R7 `6 a# ]7 r4 [7 u8 u& s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- e1 K1 E7 p* a! \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 a' D- ?7 W+ c4 K* z
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
& u8 @. O" E/ q- q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: d  s% |- Y  W: Z0 Y: g. C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * d+ T5 a4 U0 l& v
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
& R0 s( s$ H$ L1 h& n4 `* X咁你話d錢蒸發左去邊? ...

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, X8 v5 a4 c1 n2 z3 m正係咁樣; p0 Z& Z  p8 V+ Z4 S  f
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' G9 f! [# F( U
分分鐘佢地唔使還錢5 |8 ]1 S! A& q' `- \
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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,9 x+ p7 }) D* V0 Q7 s  d
連國家都係問人借, 不停發債券, 印鈔票4 U9 ~) @$ s) \
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, f8 P3 \7 q/ |4 l* o
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
0 y) A1 j; n# _) H咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...0 @) o  f0 Y9 T6 W7 o1 ^
因為以前未生產, 先消費
! [: \, i  B; _: l$ D而家就要多生產, 少消費