0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 f' g0 O1 ]7 F' f+ l- N- Q
Why bank will sell 借據給第三者???) g7 p' V2 j5 T9 z9 w
I was so confused.....

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. V( s' J0 O4 U, T4 E講到尾都係賺錢
" D9 h4 y: {. B* [9 v" I# oso銀行可以不斷放款" N( B0 e+ b; _- q2 @; q/ H& s4 ^
美國的房貸問題散佈到全世界5 i% _/ H% Y, d4 p
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
! [1 [) z% b9 K! H; ^>arranger
+ K- p: ]) y8 s4 |>CDO(Collateralized Debt Obligation)
- s: {, C7 ^5 j9 k: v' s最後去到投資者

Kev

i thought it is the reason of rate of return./ P, H0 d# v" v" \/ X3 r; t7 N0 f
CDs could have different ratings, AAA -> F,. L7 b# m* J  Z" O/ H
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 d: N7 V1 Z& d+ rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, R0 C, F4 O+ y, Q! H' |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" \! U3 d' f+ L: C/ v' ]Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) Y1 F$ ~$ u5 ]: C! [
similar to bonds, CDs trading in the secondary market have different value at different times," u! `3 b8 ?1 }# N' ?9 o
normally the value is calculated by adding it's principle and interest.
5 ]/ ?0 ~. c* f- v- i( i2 neg. the value of the mortgage+the interests to be recieved in the future. 5 t  l/ h( z  A5 W$ E# \3 ~8 i
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.5 }9 p: c. [3 [$ O& {3 \

7 i8 k/ u6 \4 r. l( zim not quite sure if the multiplier effect does really matter in this case.- Q. Z9 k5 X8 d4 `! u  _7 s% h
in stock market, it's the demand and supply pushing the price up/downwards.
9 f. r4 A1 v3 c4 z3 n5 FFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( K! O0 O  k8 v' r1 U1 T2 u  s+ C) H3 n
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: d+ l4 [4 m# e3 u
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.
# ~, W# V* w8 w$ y( r$ ^but the value of their assets did really drop significantly." ]8 c" V. X* D9 ~9 b0 e  {6 s, O* L

# k: H$ @5 H; n1 D) U[ 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- K. i7 t& f0 x0 l  U* ~
Refer to last example,; ?3 M# P& _$ s8 x: Y, C
that means bank A have no money because we borrow 10 dollars from bank A
% t( U3 j4 g7 ]. lBecause bank A doesnt have enough cash on hand + m4 [0 ^' R" M7 R# b* \9 C; \
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% h2 @8 Q; h1 ^9 u9 m; M( i
so does it mean if E failed to pay D, 6 m" P- d3 x# K$ p  F( _7 a+ M1 r0 v
all the B,C,D,E have to go bankrupt?  ]9 l, l; V- V, y" d

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the multiplier just tell how much money created in a whole economy, 1 h2 V- Y( Q& p) s) l/ V
in this case it doesnt really matter how much money is created, * U' Z. [7 H& [  ?) X! g/ V2 o
it's the problem of the debt itself.
2 ^9 L; K5 b% J% q) u& y0 x3 h/ P( wthe 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  j" d; l( X$ H1 q* h" |3 p8 j# [/ i1 _
小弟一直都唔明...) e) }; r0 _  i' y: q- m. H

1 j2 _- t) L! L1 E, i3 C1 ~全世界都蝕錢，咁邊個賺緊錢呢?- t( v+ C4 S: A" g

7 X, W( \: Y2 Y" M; o無可能淨係有人蝕錢無人賺架嘛..., A7 ]! C; B# w; q( ~/ A
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敬請各師兄解答
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Thanks

& V# D% f6 N6 e1 C6 e$ E2 m那些根本係 紙上財富  
& [7 Q3 k% a# A3 N9 `2 Z& k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 graphic2 _5 ~1 _7 ?( k

5 V& h: b3 A. T3 Q7 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* e' t9 w. c' t$ X/ C$ Z, Q( w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- F: ?) f; u6 F' K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) q  r: e) X6 _0 ]+ x7 t
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# }/ h/ [, e! b8 L. r( b
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ ?; x3 z, i6 h8 E( k" p# }計番回報率就已經係50%,所以可以好好賺
. f  Y$ l4 m0 V2 g, e+ {! j( j+ P; h7 V前提係銀行之間要互相信任先可以咁樣借法
9 I8 g" O5 W0 v% f, X+ Y同埋個市場既前境要係好先得. e, E  k' I2 k1 d, w2 L
但當經濟一差,公司估值趺了,物價不升反趺0 f% M" u! q. X
例如剛才說10蚊的, 趺到得番9蚊, 7 U3 j2 q: C3 ]0 _
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ k0 M7 @* ]! ~' |" q所以你就會覺得D錢好似蒸發哂咁- q  A- K  C/ p1 B5 W  o% ^
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你都可以當標野咁諗, 個樣野多人可以狂升值,
3 t, ]$ W/ p3 y$ b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 e( X0 A* T( w9 C0 S$ Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 z+ V$ G; L. G/ @$ E9 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
5 R% J; ~, \" u! d9 G$ R/ ^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.gif0 [9 R! N$ p$ u" C& H
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( F9 k0 x1 p" t6 L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 N* C4 P) ^( O" @; {/ 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
1 v3 j8 u/ H6 C+ F% d2 ]咁你話d錢蒸發左去邊? ...

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正係咁樣) P7 O! p/ b/ b- w1 m6 f* o
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
2 g4 ~. q. t/ L2 n/ [/ N分分鐘佢地唔使還錢; V9 K8 o- ]# q$ n7 b! R
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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,
& S0 F3 U5 s( v( u4 i. ?* W* j6 O5 b連國家都係問人借, 不停發債券, 印鈔票, w% x0 T- H; }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 O& j7 l( z- E5 j8 S1 a: w% @
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.gif1 ~0 \1 z2 O" K4 q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...: ^7 m5 o+ ?: B9 O7 v
因為以前未生產, 先消費! m* X: \6 |. T
而家就要多生產, 少消費