0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. C) D: V; b  x* F
Why bank will sell 借據給第三者???
: K+ u/ V  t, n: O+ nI was so confused.....

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講到尾都係賺錢: O5 X0 \% f9 \- G4 E
so銀行可以不斷放款
# G' t) j( n4 L/ I' `/ V/ l7 r- B美國的房貸問題散佈到全世界5 E& V  R1 b4 L5 b2 _* N

2 U% h; z9 n, u, K% o" xmortgage loan : [8 I4 t- f0 l1 A+ y
>conduit
6 ]- Q1 d3 Y$ e/ t2 v$ m>RMBS(Residential Mortgage Backed Securities)' g5 c) H# A0 g/ G8 v
>arranger
4 T3 h) ^; w* S: v- l1 Y>CDO(Collateralized Debt Obligation)8 `" i) c! D& r; I
最後去到投資者

Kev

i thought it is the reason of rate of return.0 [0 x# \! L: f+ `, a+ R9 n; I; ]
CDs could have different ratings, AAA -> F,
, \- K3 r1 B4 T% D  T  Vmore risky ones would have higher premium (interest rate) as a compensation for an investment.% \! E* B9 f$ L6 b
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; t& j2 l1 V# _5 T4 iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  W0 A1 _7 @5 ?" O% TAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ _: J7 d& ?0 |* q% m; \4 lsimilar to bonds, CDs trading in the secondary market have different value at different times,* r4 y# t! h7 H
normally the value is calculated by adding it's principle and interest. ! T( F/ A/ O% A6 _' t
eg. the value of the mortgage+the interests to be recieved in the future. + k3 ?: W1 ^' I3 j) F3 a
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." D/ S3 e6 d/ F2 [: k

; X3 \  K  h1 S% R6 fim not quite sure if the multiplier effect does really matter in this case.& g6 q6 E% M3 q5 B
in stock market, it's the demand and supply pushing the price up/downwards.$ Y4 ^" }/ i: M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ S: A7 [: v4 u9 M" \0 o0 ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 }1 j1 P; f/ W0 xThe 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. 2 j  P+ `' e2 x9 ]
but 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
6 q# m4 s; j2 ?0 {& P4 c. N" URefer to last example,
( V; l: A, b' J" q3 wthat means bank A have no money because we borrow 10 dollars from bank A : ~, i  Z( i/ m
Because bank A doesnt have enough cash on hand
, S! O3 e2 @4 \# Z0 ~therefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 N7 g' y8 w6 z2 {/ d5 D% d) T9 ]

8 C% ^5 M. ]7 O& ~& `A->B->C->D->E
' u2 ?; p4 K! t- O7 K# T8 d# sso does it mean if E failed to pay D,
# Q2 g0 @/ H' F2 Z  G3 _+ r2 Pall the B,C,D,E have to go bankrupt?* G- r6 R4 s, ^8 v$ w  R3 v

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the multiplier just tell how much money created in a whole economy, % y' P; w( U4 r  f: J! q. ]( m0 B
in this case it doesnt really matter how much money is created, 3 I) w" F  {8 e$ i
it's the problem of the debt itself.% v; |3 T+ j4 |# y9 F& T
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.gif7 k' E- t3 f3 E$ f% N  v; `
小弟一直都唔明...5 S+ r) i" Z) Y9 M

0 U! T8 }! C$ G3 f) E' X, }. `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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Thanks

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那些根本係 紙上財富  1 }4 R$ w% O) }) M2 \) N
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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4 s7 \! u' C1 H( V& _) ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. r" F" Q$ M4 \" K% z* {當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ o( V9 ]* @( {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
8 o2 Q5 p8 ^% L5 W4 \個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( P% I6 Q6 ]" m* w2 q! B
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* Y" c7 L0 p5 R0 A( W
計番回報率就已經係50%,所以可以好好賺& D$ K! C1 b! U3 c; V8 M5 G
前提係銀行之間要互相信任先可以咁樣借法
3 S% K5 A7 J3 S9 @/ h4 Q3 t同埋個市場既前境要係好先得
4 s4 \0 w# z5 s* t# G  f. d, r但當經濟一差,公司估值趺了,物價不升反趺
; O* f* Z9 L5 c1 ]0 ?1 E' }例如剛才說10蚊的, 趺到得番9蚊, % G( k2 P% X6 S$ r4 Z1 l+ I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! j7 o) a2 p' X5 U9 y
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,   Q* T; W4 l' K! Q* e& @) }& x
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, 0 ^: o9 F9 F1 l5 N3 f+ d2 T. c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 Q7 s# e' s! A) 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
& ^2 ^$ Q! E3 X1 d: y& {3 y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
( r# ]+ A. x6 ^, V  }唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 `% p6 \: \2 h& g3 \3 ?" c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ D, R1 f* V: `4 V" S' `4 n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
* \' c: r5 l* O1 b% B咁你話d錢蒸發左去邊? ...

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正係咁樣
) J/ A: C5 x7 m& H% V. X2 u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
- P/ X1 e9 i; }" F. ~分分鐘佢地唔使還錢6 ?% G. y, Q8 q) H( [1 T+ I

9 C& X. Q( K! q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,
0 v: w, J% A- p$ n- x. W連國家都係問人借, 不停發債券, 印鈔票
5 P& Y( q* [& \1 j5 l. r! p+ V& {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 U% i6 O1 ?9 ^" U' s+ 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
# g+ _4 Z; I5 c8 F8 u8 M咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 t- w3 z, c# h$ O9 P因為以前未生產, 先消費
4 o5 a, C5 e' |% _而家就要多生產, 少消費