0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 Z( R' u$ y% ~5 b& ~Why bank will sell 借據給第三者???  x0 l0 j) A$ ^) w8 v+ Y8 P4 s7 K- A3 m, R% d
I was so confused.....

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講到尾都係賺錢4 e9 o1 ]- ~) q% y1 j3 [- ?
so銀行可以不斷放款. A0 G7 a4 B. m
美國的房貸問題散佈到全世界
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2 T7 B# T' a# k5 N% l$ k0 vmortgage loan $ {0 R- G  ?( |4 n; d
>conduit
4 J& K% Q/ x$ j! I$ h6 c>RMBS(Residential Mortgage Backed Securities)0 |" m6 {0 n! g3 T0 W
>arranger
3 K: P! P/ h$ U9 e7 W1 C% e8 g* D>CDO(Collateralized Debt Obligation)
9 x, z. l; L) r( W% p* {# l最後去到投資者

Kev

i thought it is the reason of rate of return.
/ w3 A. L, ~0 s/ |. Z+ L& |CDs could have different ratings, AAA -> F,7 f+ P) l  G$ F2 d; @5 H$ {: Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ Q8 L8 x+ O, q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( X  b. C  b) Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' g3 l5 W& \' H9 P( ?( w# k' s- z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 @2 s/ F. a2 Lsimilar to bonds, CDs trading in the secondary market have different value at different times," ]* P) C+ ?9 V
normally the value is calculated by adding it's principle and interest. 7 ?6 V) o8 \% a( ^8 n1 ~9 q% ^
eg. the value of the mortgage+the interests to be recieved in the future. % k" G- l% a/ f+ o4 n; v
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.- x# y. ^6 H" M. S+ h7 ]% F

) Q& J' x9 }- v% u4 r# k4 `im not quite sure if the multiplier effect does really matter in this case.
/ ]! W; E( C+ H7 a1 Lin stock market, it's the demand and supply pushing the price up/downwards.# _& B& a# o- `% a$ Q$ J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ r0 l# ]$ N$ uA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# E! Y; {' m. Z: OThe 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. . G- |2 L  ?" C" I& T; B
but the value of their assets did really drop significantly.
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! X' b+ p7 d% b& q[ 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
: ~! d0 z6 w7 P; y4 H' Y! NRefer to last example,
7 z( _& T, v$ `  X" |; }that means bank A have no money because we borrow 10 dollars from bank A
" o2 T' i8 U# fBecause bank A doesnt have enough cash on hand " m$ d) o+ u  d4 o5 n- H, B3 v
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% n( h% @% R& z% |9 E3 p& eA->B->C->D->E! B  D/ f6 N) o. K$ ~# d
so does it mean if E failed to pay D, . A6 ?! M+ F- u6 p* i* T* T8 S: f& s
all the B,C,D,E have to go bankrupt?% Q/ R1 k3 X! _3 r& E) W

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the multiplier just tell how much money created in a whole economy, ( o9 T1 I/ q  X! u
in this case it doesnt really matter how much money is created,
" B6 l" ~& T! g4 x8 I) Bit's the problem of the debt itself.
! |. \7 x; R, ]4 R5 K+ ]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* i9 a, L" \) Y; G) n5 l. [小弟一直都唔明.../ O$ i/ M7 Q* k7 b" M

/ {, t+ R0 |* ^6 W- y+ B8 o全世界都蝕錢，咁邊個賺緊錢呢?
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" a% i8 y# \) C# E3 T1 j1 X& e無可能淨係有人蝕錢無人賺架嘛...: e3 g1 S4 R6 a; }
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敬請各師兄解答
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9 s  F$ `6 @/ O. o3 F6 eThanks

8 J* ^& B3 r% e, E* d那些根本係 紙上財富  4 U- _% J* h% ?1 N, j0 p8 I
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+ Y  I3 _* l1 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
) V" z& r, _& ~) e0 f2 G* Q( ]當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) c: ?6 |0 T! b) _5 ^. v2 y1 a6 P( h
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" d' B2 T- ]9 _2 i& g9 F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 L& J; ]. H  u4 ?6 c8 I" r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ I* C% H$ @, c: m7 A7 C計番回報率就已經係50%,所以可以好好賺
1 H3 q- P, `0 c6 x% s0 J3 I前提係銀行之間要互相信任先可以咁樣借法* Q- U7 w( Q- S1 A) I) U
同埋個市場既前境要係好先得
; C8 g+ v& V/ h0 X+ Z8 x但當經濟一差,公司估值趺了,物價不升反趺
1 d8 A9 |0 C9 a4 y: P+ M例如剛才說10蚊的, 趺到得番9蚊,
5 V, N8 _) b. y' O5 M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  W7 d. B6 Q: y7 d8 u
所以你就會覺得D錢好似蒸發哂咁7 P. P7 O" O( b, [/ l9 t
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你都可以當標野咁諗, 個樣野多人可以狂升值, ; Y% U0 }; I; r0 ~7 D( \' Q
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,
' p# g1 d& c8 D- r$ y4 [. A$ j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' e! ?: X: Y: o5 ^% @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5 L6 [! I! X2 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, o0 j* x) ?4 O4 ^- s, ]9 N0 I
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 ^! e( c7 x4 Z5 U  M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! W/ }0 `% P+ A) p: T0 B2 C
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- t4 l/ A/ w% X7 r: t
咁你話d錢蒸發左去邊? ...

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正係咁樣
3 B9 \- x  d2 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; o1 Z- n( L9 [- ?: B' |
分分鐘佢地唔使還錢% n' ]: u" |9 x$ J/ a% v  z

- }5 T3 M6 |0 Z5 p, N# f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,1 b$ {$ r. a7 E5 o
連國家都係問人借, 不停發債券, 印鈔票6 Z. V* h) r! W% B3 M9 U
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. v' H7 p6 G  l$ L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
7 |1 ?; X2 U) B4 v/ n0 Q/ W' [' x咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
4 X  w& E, N' ]; p因為以前未生產, 先消費
( G! I  L6 E2 ^而家就要多生產, 少消費