0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. o3 V9 S. t: b) A
Why bank will sell 借據給第三者???
+ ?7 n3 `/ D6 B& pI was so confused.....

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4 V6 u/ e9 @% y- T3 ]講到尾都係賺錢
* u0 z/ t0 ^5 H- H+ l, f4 f# G, Iso銀行可以不斷放款! e% T: P" D" L; U3 C& z4 q
美國的房貸問題散佈到全世界
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mortgage loan " c: f# N7 {8 |* o
>conduit, s; F7 y  E; v7 z0 E6 E5 }
>RMBS(Residential Mortgage Backed Securities)- q+ S0 P; Y7 L5 m& ?0 b$ L
>arranger
* M+ Z. i- E( V) j3 W& u>CDO(Collateralized Debt Obligation)( _* [7 W5 i$ @7 l0 ~5 d
最後去到投資者

Kev

i thought it is the reason of rate of return.# R0 d8 v! r9 h0 Y
CDs could have different ratings, AAA -> F,; E7 p: ~2 g& o3 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.! A' v8 q/ I8 I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, O: ?) r1 f# _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) h% O8 ?4 C5 b- M" d; H( R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" Y' Q  h4 I* ]4 t" X4 dsimilar to bonds, CDs trading in the secondary market have different value at different times,1 U8 d' y6 [& F3 k8 a
normally the value is calculated by adding it's principle and interest.
4 F  C8 y% }8 y: Qeg. the value of the mortgage+the interests to be recieved in the future.
, n! a7 R1 j7 xbanks 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.
4 Q) w9 a+ c4 a5 U: vin stock market, it's the demand and supply pushing the price up/downwards.
3 g- K4 `' I3 K5 Y, {& sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 {, e5 E: I& SA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 o! @$ k, h) q5 T3 v- Y" D5 vThe 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. 3 h2 B9 ~& ?; |) b* q
but the value of their assets did really drop significantly.
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0 X5 `# a: @& Y& x9 ?1 C/ [[ 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
0 j1 o/ _; G. KRefer to last example,
5 ^! n6 x! M4 \  O' ethat means bank A have no money because we borrow 10 dollars from bank A + x5 t( W1 N9 Z& o$ d/ d
Because bank A doesnt have enough cash on hand / A" s+ b1 I9 g2 R* f6 j+ _
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ m6 n- V1 Y! xA->B->C->D->E+ t2 w; Z7 P7 H5 Y5 ^5 ]
so does it mean if E failed to pay D,
; t1 _! m% f8 W. W) z4 P1 k3 Oall the B,C,D,E have to go bankrupt?. }9 @& u- m% R2 ~3 w; M
( a) ]- K4 m/ e9 j8 Q7 k

7 X+ ^# T, U" T# h+ ^- a; _0 r0 {- Wthe multiplier just tell how much money created in a whole economy,
% [8 y! U; d0 X% H  xin this case it doesnt really matter how much money is created,
( L+ W' N# I9 `$ Lit's the problem of the debt itself.
& ~- r5 R& v7 Q/ cthe 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
/ f6 A8 [; I3 ~5 _( p% I/ ?  W小弟一直都唔明...9 A8 x/ ^, t2 [% Z
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全世界都蝕錢，咁邊個賺緊錢呢?. ?' b0 f% J, F4 p0 e
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無可能淨係有人蝕錢無人賺架嘛...
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  h  c# P3 N1 n0 C1 y敬請各師兄解答4 S6 c9 |* x$ S; d5 M9 c

7 B$ _$ M% @( |! fThanks

% \8 }7 H: l% j/ [" x9 D4 C那些根本係 紙上財富  
1 H! o1 C3 C3 T' u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/ B1 }/ `- R' A$ C; \* n! Q$ N3 E' }* ?

6 o& W( ~# t2 k4 C# xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產2 E: H, K; L  E: P) g3 n
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& Y5 F5 m( Z: z9 b* q$ d0 X
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$ J) c" a' H8 r: }0 O  K+ S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, n1 O2 a0 u8 k/ ]1 f7 ?
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 u  N/ ?- @& S
計番回報率就已經係50%,所以可以好好賺- A( `# v$ D7 G) |
前提係銀行之間要互相信任先可以咁樣借法
4 y+ v6 c* _. a% |# E同埋個市場既前境要係好先得" _3 m. K) Q. n4 a
但當經濟一差,公司估值趺了,物價不升反趺
+ p7 L5 P) [/ F8 u3 b& @例如剛才說10蚊的, 趺到得番9蚊,
- ]7 Y  j7 e; @3 J9 I咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: H# U! p9 D7 |( f' O: N! X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, ! M9 X! ?; L& p' {  ^0 R$ d3 \8 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,
& g4 J+ P' t7 q1 A; t8 r  M) G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, c5 D7 ]4 [/ Y; h/ m9 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
$ U6 K; I& e" x7 q" f3 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.gif
- j& H: O! A' t: e2 K$ I. M唔係d錢蒸發, 而係比美國佬洗晒未來錢,
* m' L! a" k  i4 i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / u6 c  b% c( c/ 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
. @! Z* v1 Z+ G# x3 {1 g咁你話d錢蒸發左去邊? ...

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- E: u- q6 z7 @4 h, K正係咁樣
$ b  y8 k. @8 q9 \6 c3 ?/ O& l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. w* `2 }9 u5 `- }) s
分分鐘佢地唔使還錢! Z- J: D  q2 O' O4 o. |& N7 m3 y

  B" K) S7 i" V6 k, j, g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,( x; C+ T. B9 m- o9 r& }. e
連國家都係問人借, 不停發債券, 印鈔票( q4 @+ \7 ~' D$ }) P: H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, K* X; _6 ]: i2 i( 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.gif8 t* {) M/ Q; o! w8 w: G; m3 U
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.../ v8 |8 y  D, R
因為以前未生產, 先消費; e; C5 ^1 w7 V4 P- I. {
而家就要多生產, 少消費