0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 T0 Y, S9 f3 W% `. i4 ]9 ]
Why bank will sell 借據給第三者???
  A1 p8 i- @7 |! pI was so confused.....

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講到尾都係賺錢6 V8 o' I( |. j1 j6 B
so銀行可以不斷放款
8 U' b- F( c% b( a( k; W7 r美國的房貸問題散佈到全世界
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mortgage loan
  B5 u: i& ], O>conduit  l, ~. I0 T/ T+ @* {
>RMBS(Residential Mortgage Backed Securities)
4 y1 t2 ?) t, `# ^  Q1 r>arranger# S5 g5 {( l7 r' ^/ a' }1 {* \) i
>CDO(Collateralized Debt Obligation)
/ H& @5 U0 C7 _2 X& w最後去到投資者

Kev

i thought it is the reason of rate of return.
8 j: M6 E8 p9 KCDs could have different ratings, AAA -> F,
/ a" f5 m+ @' I6 ?3 Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
. l  x* Y. G' Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 z2 W8 Z1 y/ I) B8 h
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." y/ t$ ~& `% w* Z7 I
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 n5 b: K+ u8 ysimilar to bonds, CDs trading in the secondary market have different value at different times,
2 Z# b8 W6 [2 l! T# t6 u: P+ P" Fnormally the value is calculated by adding it's principle and interest. 1 P- m0 V/ I" \1 L  d( K; z( l/ W
eg. the value of the mortgage+the interests to be recieved in the future.
1 j# k& n# E( k6 S; \6 [+ c, |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.
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7 L& P# ]$ W9 X, _. Yim not quite sure if the multiplier effect does really matter in this case.
" P/ {6 K) X0 Lin stock market, it's the demand and supply pushing the price up/downwards.' x: O( Y3 `* O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 c2 a5 v9 @& T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ }6 ~2 o# @- e. q; p' H
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. * {* `( V7 f9 B' u) o- T' i4 N
but the value of their assets did really drop significantly.3 ~1 k$ R! r5 G4 {
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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
) L0 p7 a) [7 P. q' {Refer to last example,
$ }% {; g4 w6 l/ u5 ^5 `1 d! Pthat means bank A have no money because we borrow 10 dollars from bank A
: d& a/ Z! M4 WBecause bank A doesnt have enough cash on hand
8 j; ]! _& y: L4 K0 Xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
9 {) C1 L/ }" H" ~. X, Vso does it mean if E failed to pay D, 1 w/ s# g! _6 R/ V+ h: N
all the B,C,D,E have to go bankrupt?& w  J: \- X- U- q
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/ B) ?- U! w6 k! N! a4 L, v5 |% Hthe multiplier just tell how much money created in a whole economy, 7 ^6 [5 o. L% K9 |8 L, W8 h& O. K
in this case it doesnt really matter how much money is created,
: I  V1 c4 Z4 L) s- I8 s8 ^' \it's the problem of the debt itself.
) l) A5 v+ g' @' 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.gif' V4 v0 m; y3 t7 }) Y
小弟一直都唔明...
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+ \( R- Y, M' x8 @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...+ O) ^1 }7 J; B

; h0 _* x; ~# e7 @4 v. ?敬請各師兄解答; A$ z1 C; c8 r- N6 D) H+ [) m; `

3 W) w2 R0 y- R( q4 [, sThanks

( X- G" |: m- _0 Z3 R9 Y
那些根本係 紙上財富  
3 e. ]# I  q" D0 g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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! M* I1 Y- f! Y! j  Chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產! G4 r  ^* h' q( Y- C2 n- e2 E6 Z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' R+ g9 J8 b1 J! O8 x5 q9 I% |
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! s5 S0 U2 \0 s% T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦8 E& O$ y; J" h2 Q" m7 D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 Q% d) w+ T  i* p+ h2 s# s
計番回報率就已經係50%,所以可以好好賺4 k$ k* S2 p" W% |' T4 H; u/ G
前提係銀行之間要互相信任先可以咁樣借法8 V0 n+ e. r/ f1 G! `
同埋個市場既前境要係好先得
( v$ I' K/ F) F9 W  i1 F' {8 L) W但當經濟一差,公司估值趺了,物價不升反趺
: _/ ~5 T* q) X% B例如剛才說10蚊的, 趺到得番9蚊,
) u3 y2 U8 M# l  X; P3 g- r咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ u% w; n' Q5 J0 }所以你就會覺得D錢好似蒸發哂咁
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1 N5 |& X& k3 [7 ^, c* ]你都可以當標野咁諗, 個樣野多人可以狂升值, - i, _+ a, [6 m$ S7 P* n
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,
  w3 A/ u2 U0 j5 r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : K! y. U5 s" _: \2 T/ M
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
. s  T' t# z5 E. N8 C+ `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: Q; v+ V6 V2 }+ r6 O, ]
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ B7 M% z  y  [' N0 I9 Y# H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ n9 C9 ]& V) C$ N5 o
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4 K5 w" {0 j" l/ \/ [$ X; j4 G" Q
咁你話d錢蒸發左去邊? ...

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$ {) i9 n2 c/ B) W4 E8 A正係咁樣
9 |. z9 ]: S, H% B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
  u2 V& I2 I: j3 G# P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,
* I; Q, z; x( {. U% s連國家都係問人借, 不停發債券, 印鈔票
! }+ T) P1 k; R3 B一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( Z. ?  ]5 N) T( t0 ~
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
5 I0 @8 s5 \! O$ B( s4 ?' B5 C# B咁而家"爆哂煲"算唔算先至係變番"正常"???

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) [- J6 R9 D8 ?$ V$ j其實係...
0 I" N# d2 ~* b/ x* G% v2 o因為以前未生產, 先消費
9 k' A, }' D" Y+ R1 B而家就要多生產, 少消費