0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, g% _5 `  X7 ^0 L- T) OWhy bank will sell 借據給第三者???
* Y8 t: v3 P4 `: s3 Y3 I6 r. l) S) oI was so confused.....

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講到尾都係賺錢
% {# v* b/ U! @- d7 s; D5 Tso銀行可以不斷放款; o+ |% E6 R) H$ x" V
美國的房貸問題散佈到全世界
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; Y& I7 `" R" g; Cmortgage loan 8 M- G1 `; Z0 {' T
>conduit
% _9 m4 r2 X* i8 E2 k6 p* V4 U1 X>RMBS(Residential Mortgage Backed Securities)
( e: D5 C! ]! l- J: S>arranger2 U& ?5 b/ e: a" P9 H
>CDO(Collateralized Debt Obligation)
; K( K9 N7 V+ E8 l, d5 s% S' d最後去到投資者

Kev

i thought it is the reason of rate of return.
( l, l2 c$ X/ L. v& _! yCDs could have different ratings, AAA -> F,$ d2 I" L  Q7 a- C
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 n5 f( Z: o$ n( S7 gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# v4 m7 t( z6 k7 Y8 }, Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  V0 n9 b/ \" @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: S: u4 F: B6 e% P
similar to bonds, CDs trading in the secondary market have different value at different times,% q4 k8 `  E" `& F) J
normally the value is calculated by adding it's principle and interest. / G7 K$ W) p  G& V5 t- V# g) s
eg. the value of the mortgage+the interests to be recieved in the future. ! t* i8 P; c0 g1 _+ U! o; f+ k! x4 q% p
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.+ H1 b, w6 ]' Q% T! n
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im not quite sure if the multiplier effect does really matter in this case.
5 W0 N; r; I  v( i6 Xin stock market, it's the demand and supply pushing the price up/downwards.
, U, `. F. G6 N/ E# xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 C" f* K+ i' A8 `$ E2 p, [3 v, B- PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: L# e5 k+ O/ |! g( k* a  P
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. - J; b4 g- \' E- k- |+ B
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
' u' |! y6 W$ IRefer to last example,
. R/ ?$ j3 M/ u& z9 `. fthat means bank A have no money because we borrow 10 dollars from bank A
3 c3 |+ e" w9 U6 h6 u9 R! p) _$ M( WBecause bank A doesnt have enough cash on hand
8 X. ^9 n% ~- E# P4 Q% Xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E* K- S4 _$ @# Y- k
so does it mean if E failed to pay D,
9 ]$ K0 K# r! M3 v  N, Sall the B,C,D,E have to go bankrupt?1 l) }7 ^, N$ X3 b% e& E

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) k4 ~& Q7 U) ]+ ?, x8 S1 _the multiplier just tell how much money created in a whole economy,
$ ]6 H; `3 W' x4 i* `3 Min this case it doesnt really matter how much money is created, 8 ?6 `% h1 }" J  p8 ^! P9 z2 E& L
it's the problem of the debt itself.
+ I. f; `9 M9 g( m* jthe 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.gif5 W# h  @: p+ b% _, g. E* P
小弟一直都唔明...8 D0 W" d, U9 c/ Y

8 G& U% R3 m/ R8 e$ q全世界都蝕錢，咁邊個賺緊錢呢?4 T5 ]+ o6 [) j

4 g5 X" E9 g5 q+ l. J2 i9 [無可能淨係有人蝕錢無人賺架嘛...
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( p9 E7 Q1 d; ~1 c! B; l* v1 e9 E敬請各師兄解答6 Y5 {3 v! |) j$ j6 h

7 Y, t% g1 w7 o- C8 I* hThanks

/ ~* |% n* c6 r  k/ o那些根本係 紙上財富  
  y8 C7 S! j# E1 h/ w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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- j# |1 I2 p( }3 J: z% h: \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$ K6 h$ f; |2 N* O6 a7 N( e% j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 c* P* M$ u* ?" c) O! f' q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- h' n0 r9 n* j0 ?
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ Q  m% p3 l' d' O  a$ M* b
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 W$ [( H$ X1 j計番回報率就已經係50%,所以可以好好賺1 M9 L. B4 b0 W& r  K5 p
前提係銀行之間要互相信任先可以咁樣借法
+ {: A+ }5 G" n" U* S- W2 c同埋個市場既前境要係好先得
8 M8 F) A9 r! W但當經濟一差,公司估值趺了,物價不升反趺
- w! ]& _/ t: Y8 r1 v" r, J例如剛才說10蚊的, 趺到得番9蚊,
# d" W- V- G% V6 O* {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 @* c+ k  d3 |9 C$ X* ~" ?" s' {3 M  ?
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, - |  d$ j$ j% c5 g$ b7 R$ _
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, . E- m5 l- V; p5 N3 ]8 K5 s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 l* P& b" c; v1 Y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
: p( f7 w  o+ I" j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.gif4 h! a9 Y1 P; P/ M5 f; D
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; d/ _. e! ?  q; ]# q4 r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 a, r  u5 ]8 J+ i; s! ^& F8 d: 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
2 L  M: x5 b% V. r; A( ?咁你話d錢蒸發左去邊? ...

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. \, b$ L7 L$ v) F7 {/ V正係咁樣% H7 D- u! G* I/ i- [
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* b3 @4 _! ^3 U6 A3 n
分分鐘佢地唔使還錢
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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,- Y5 g' R+ m# B
連國家都係問人借, 不停發債券, 印鈔票9 D& o) j/ z8 k  d4 ?
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. l! @' W1 C  T0 M9 L/ m
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
1 c1 Z6 |- D6 r( y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  j# [! T, k+ [7 }" d因為以前未生產, 先消費0 k  y+ ^1 V' Z2 q
而家就要多生產, 少消費