0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- Z$ e/ K( Z; YWhy bank will sell 借據給第三者???
9 e& z; W* o6 `' b* {6 F6 F% AI was so confused.....

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講到尾都係賺錢
% w+ W) o' n% ]  u: W$ {& c' ~1 pso銀行可以不斷放款
) w# P: R, A3 f美國的房貸問題散佈到全世界
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$ q& X0 U7 G, z# u; ]mortgage loan
6 t6 }6 U, b  [* X>conduit9 m3 g* s# R/ |( _3 z! @
>RMBS(Residential Mortgage Backed Securities)
5 j3 w( z' f+ F: {* x>arranger* s  g) `! A! E4 P
>CDO(Collateralized Debt Obligation)
; ^1 l8 R6 J. p# b8 C最後去到投資者

Kev

i thought it is the reason of rate of return.* {* N+ U: o  z. p
CDs could have different ratings, AAA -> F,, k9 p5 l2 y! y0 r6 s
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. a: M" V* F; V# Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) T$ b8 b/ d% G" ~# t) `  vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 |% k. z* K5 iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- ?1 w! d; h+ p8 u( f5 ssimilar to bonds, CDs trading in the secondary market have different value at different times,- t) C; P) l1 L, v. f: f! ]
normally the value is calculated by adding it's principle and interest.
$ U$ s+ x6 Y* B4 U% meg. the value of the mortgage+the interests to be recieved in the future. 7 N2 C. h* ~+ u
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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im not quite sure if the multiplier effect does really matter in this case.# u9 ]( S) }9 `# j6 R9 I
in stock market, it's the demand and supply pushing the price up/downwards.
$ d! F  V3 _  i0 XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% Y: q) U7 R4 Q) \' KA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., O" J9 K: `* F
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.
6 u4 z) _  w) c5 r' qbut the value of their assets did really drop significantly.
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: L. b7 Y( a. z4 ~[ 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
' I3 G- ]3 r0 M* |5 W4 |Refer to last example,
1 V: j! g3 h( k; s& Pthat means bank A have no money because we borrow 10 dollars from bank A : t8 P# X$ h& l2 Z' |/ A7 a5 v
Because bank A doesnt have enough cash on hand
/ b5 W6 W0 X' S% xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
7 A* }5 T, A" Y/ ~4 zso does it mean if E failed to pay D,
6 j9 t2 u( b& Dall the B,C,D,E have to go bankrupt?$ p' b- u* p# O% N

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1 _0 e) Q% v+ ^7 M: P$ Z) dthe multiplier just tell how much money created in a whole economy,
2 K9 d4 ?5 y% g% u! Y5 P7 ^$ pin this case it doesnt really matter how much money is created,
6 ~% l/ p3 V. }: C: t9 [% Nit's the problem of the debt itself.( R3 }! S, Y) _# j' @# P+ v* o; \9 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
# f0 [+ _1 o- k小弟一直都唔明...& o" c0 b- A* _' e+ `8 m' S

# m7 D  H* J! e" b: e+ t4 o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

0 w. B7 F3 C, [; z" _; w: v那些根本係 紙上財富  
2 B0 F+ q; ~+ n- _/ @% r! ~( p1 c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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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
" k0 P" \, A$ M5 p; b; v& Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  q5 Z+ d$ z0 y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
, J- x/ E2 p5 m4 b0 H- c. N個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 J- p$ F0 A6 {( l% E扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 o* ]/ O+ c) G5 q! a1 D
計番回報率就已經係50%,所以可以好好賺
; P7 W; B" T$ W  k* G0 m& `前提係銀行之間要互相信任先可以咁樣借法5 q, G, t7 |; F2 @7 Q
同埋個市場既前境要係好先得
, I9 S. Y5 `4 }8 U8 M3 p- }0 p但當經濟一差,公司估值趺了,物價不升反趺5 `5 ]9 z. S" A) {, A, p
例如剛才說10蚊的, 趺到得番9蚊,
; W4 L! j) U& ~) b3 ?6 W咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, _8 U5 a3 H8 L- i3 Y7 M/ c所以你就會覺得D錢好似蒸發哂咁3 @# y  R# T& C1 `

' B! C) ?: K/ O! v4 v9 J你都可以當標野咁諗, 個樣野多人可以狂升值, / I$ I0 ]$ z4 t; a
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,
# _) G+ d% t. W9 h9 y4 T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , _* u# O8 ~4 f/ C. _7 ^4 f# |, f; V# 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% v) d% G( Q* w, m3 P0 Y& [0 }
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+ L9 F! h  m; l/ T1 k
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * Z2 o% j* `( M; K  P: X. U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 J1 x' T6 q# I7 U) ?4 g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 Q3 s6 x6 X; f4 o$ Z咁你話d錢蒸發左去邊? ...

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正係咁樣1 N* c7 s/ k& c
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" u- a2 b3 _1 f" r* q
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,: E& {9 _& v% e
連國家都係問人借, 不停發債券, 印鈔票0 v; n  ^/ U  q* \
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! s/ l! a( n/ u) h7 d3 _  y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' `! I+ _4 E* C9 s0 ~/ T0 s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ x. ^# ?9 s1 m+ i其實係...
% i. p$ C! Z0 R# z$ d% S& m$ C/ `因為以前未生產, 先消費+ p( C3 P% x2 K5 \8 M7 y
而家就要多生產, 少消費