0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
+ t' [1 B" W1 s4 Z1 hWhy bank will sell 借據給第三者???
/ v4 s) g7 z: C$ p4 T  u! qI was so confused.....

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3 K" b$ T6 F6 [講到尾都係賺錢
! u- X- k, V+ z" [so銀行可以不斷放款. [/ }* u. _" F$ v! G
美國的房貸問題散佈到全世界$ O  n- ^6 m6 K5 n% G' z) {
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mortgage loan
! V3 k& j* ?  K9 p>conduit
5 n$ b  ^9 |' l% x/ R>RMBS(Residential Mortgage Backed Securities)
" x+ s# D/ Z* h! m+ F( V' {* a) t>arranger) ^! ^% {% t7 n, Z$ Q- a4 o! @
>CDO(Collateralized Debt Obligation)! M, W& B5 ?; P; W' [4 b* P8 ]& b) }( o
最後去到投資者

Kev

i thought it is the reason of rate of return.
  x$ O8 Z- C) u+ \2 Y4 S6 qCDs could have different ratings, AAA -> F,) n. I, d! Z, ?( @: L2 @1 m$ H3 x* q+ j
more risky ones would have higher premium (interest rate) as a compensation for an investment.
! U4 v$ O/ c' A. z: j  Nmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  r( [& P9 y/ q3 D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." S  G) W# w  X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 Y6 t: g2 x) E6 Jsimilar to bonds, CDs trading in the secondary market have different value at different times,
8 H) W3 }! q: }* A) Dnormally the value is calculated by adding it's principle and interest.
+ c  _( r. t' O2 B9 G7 |8 z2 U: veg. the value of the mortgage+the interests to be recieved in the future.
+ E0 \7 ~/ ^2 a0 u( F) j$ abanks 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.) Y& V2 E6 @" s9 L
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im not quite sure if the multiplier effect does really matter in this case.9 i! @" q& H2 J. r" f% |
in stock market, it's the demand and supply pushing the price up/downwards.$ q4 C9 Y7 D7 G
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! c) I  n4 Q8 w2 z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 W& e$ _2 ?! t5 P' I- V1 w6 L
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. + V" a+ z* i0 e9 {: M
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
/ I- p% F8 x0 C  SRefer to last example,- {& Q/ p) H/ v' t
that means bank A have no money because we borrow 10 dollars from bank A
0 T5 ^  @9 D( x. N- ~Because bank A doesnt have enough cash on hand , e0 V" L- d! W, s( |0 ]4 ?6 C
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( x: S# L3 w6 {5 LA->B->C->D->E
) o- ?; g" e, e. r4 N$ Fso does it mean if E failed to pay D, , b! L; M' B& c6 u  @( M- F6 F$ W
all the B,C,D,E have to go bankrupt?
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6 N* o2 V2 T/ H' {5 B4 X. Pthe multiplier just tell how much money created in a whole economy, 4 X6 \# m/ ]3 j7 l4 J, ]2 F( W9 f
in this case it doesnt really matter how much money is created,
" N' h1 D3 r* h1 W( Git's the problem of the debt itself.. k$ u- G  }5 U% d: x- H
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% d" Q6 [* n7 d4 b8 p; S* U. J
小弟一直都唔明...3 s9 H8 n2 y3 Y7 R/ }

6 f. N* a! N5 E) i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...! p( {' n! C( D; V6 }! L

: S8 E1 Q# b5 Z敬請各師兄解答
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Thanks

; `1 _7 o1 N% f+ u  f# B那些根本係 紙上財富  3 w  a, p, A" I# U$ k, J1 }, A
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: c5 A' T, P5 P) o/ V3 ?
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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% I" a% [; k8 c% B" U
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 I, P- o, F, C5 y2 a) V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$ ?+ w, q) |. j2 O5 J$ V4 P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 P  a. x5 o/ k7 P& T* q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 c" e! A$ W' W9 e% q  B; q1 ^0 N8 {計番回報率就已經係50%,所以可以好好賺
5 B$ [9 v, g+ o, ?前提係銀行之間要互相信任先可以咁樣借法
. n9 ^. }  b) q1 o4 B, K$ O同埋個市場既前境要係好先得
- _. u) d+ x; R3 {# B) Q5 ]7 T但當經濟一差,公司估值趺了,物價不升反趺+ j: [9 x" n6 z
例如剛才說10蚊的, 趺到得番9蚊,
2 P* r/ m  d6 c+ j; H$ i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& A  ]  ^8 Y% }: T
所以你就會覺得D錢好似蒸發哂咁: _5 j8 p' O( U. ~( q. a* g' |

9 c8 P! N* F, m9 \, ~你都可以當標野咁諗, 個樣野多人可以狂升值,
( a% L% t. z7 y; P  _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,
8 Q& E- q/ Y- f/ Q/ ~6 z9 z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ Z- s5 D" e/ C5 s4 p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, M! Y$ n; R4 u6 u
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.gif9 @" q4 F5 B4 I$ m( r, b$ a; f, N
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! `) l" |# g1 S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + \$ t. U5 Z' 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
) p! T7 A+ A% G. U咁你話d錢蒸發左去邊? ...

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正係咁樣
% B3 H  R( z1 r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& x, e. v1 E8 N7 m1 F0 v
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," `! @% d) w5 t; q/ o0 ?% Z
連國家都係問人借, 不停發債券, 印鈔票
$ \- |3 Q: r1 e& m! t: \  w一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- }1 G! b3 _% v  H* I) M5 u# _0 f3 U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
8 T  ~7 U8 ^5 @% |咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! k- ^# j- X9 P5 l' e因為以前未生產, 先消費- C9 J7 ]$ r: w/ k( y' j" c
而家就要多生產, 少消費