0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) d8 z  ?9 ]& {' `- \/ t  UWhy bank will sell 借據給第三者???- `$ |$ e: y; j$ O# \3 N9 u% [* |
I was so confused.....

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; W0 i, U) m% K( [+ f2 o$ H講到尾都係賺錢9 ]2 Z/ N* F, B" O& _. E( ?
so銀行可以不斷放款9 ~' f" j6 u- @& S: v  o2 g
美國的房貸問題散佈到全世界
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/ o3 H6 ?7 I) x/ z4 ymortgage loan - x* f/ F8 z. S/ u! }2 i0 Y
>conduit
' W* k0 x& T* X>RMBS(Residential Mortgage Backed Securities)
! S( i, E* z  `5 F, j) _# X>arranger
3 i0 q5 g- H1 j8 N) Y# X* n>CDO(Collateralized Debt Obligation)
' g+ V8 T6 r8 r最後去到投資者

Kev

i thought it is the reason of rate of return.1 |( D3 a. i" Y$ e# q! |
CDs could have different ratings, AAA -> F,
4 Z3 Q$ {( O/ X+ M: Y6 ~. jmore risky ones would have higher premium (interest rate) as a compensation for an investment.% L6 e0 X/ k; A) M1 L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. x# z% k2 z* x  m8 ]8 }: b) tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 G' L( k1 H; F9 I+ w
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 R) f+ i4 J( w, r3 F& B/ G5 w4 Hsimilar to bonds, CDs trading in the secondary market have different value at different times,1 @) ?4 ?- B6 I8 L) P0 t
normally the value is calculated by adding it's principle and interest. + v# ?; {* ~+ B8 @
eg. the value of the mortgage+the interests to be recieved in the future. # H  B6 Q* M' e- r' y! @
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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9 s7 \" Z; |7 _im not quite sure if the multiplier effect does really matter in this case.
' x0 X. c: m8 u' c4 x# _5 Sin stock market, it's the demand and supply pushing the price up/downwards.
" {; W1 g' d4 S1 b" KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' q1 w3 A* R# q+ {" c) P, J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 \9 t/ Q( D  M. y7 r; A" 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. 1 }, J5 c$ _0 m2 z
but the value of their assets did really drop significantly.  [+ q( H! M. j+ X
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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
9 H6 ]' Y6 g. L5 c5 V- O$ LRefer to last example,
' j! Q/ w8 x* C8 h/ S+ Sthat means bank A have no money because we borrow 10 dollars from bank A
* f, R0 H  k' P1 e% qBecause bank A doesnt have enough cash on hand
3 K; `. f$ v" Htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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' K0 m0 j# w6 ]6 S& E- e9 {4 V& ZA->B->C->D->E
8 i$ \4 B/ g. I8 F" k% q, Yso does it mean if E failed to pay D,
/ o, r0 g) w3 sall the B,C,D,E have to go bankrupt?
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5 b5 w0 P' k' }9 Kthe multiplier just tell how much money created in a whole economy,   G0 _- ]' g' [9 |/ ?. `6 v4 m
in this case it doesnt really matter how much money is created, 1 w2 v3 p2 @; }# _  p( H1 T+ e
it's the problem of the debt itself., J+ O2 v) s; y" f2 g! p+ i
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
8 I( |3 e6 M/ ~9 P( _) l9 a小弟一直都唔明...
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# |9 I+ F' D* {$ T3 r0 v全世界都蝕錢，咁邊個賺緊錢呢?
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/ b: B1 F. S/ z) U& _0 J無可能淨係有人蝕錢無人賺架嘛...8 q+ K6 z& R, |' v# R* {
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敬請各師兄解答
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# ~2 F7 a3 h: SThanks

1 |3 y* L* k! n" u; s! W2 E8 Y- x% n! |那些根本係 紙上財富  ) `/ J$ C* M3 J
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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% h: {, W% h& c+ Hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產9 q$ a" j- R% k  K+ P+ E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 e8 {9 N% }  @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
- i! U3 S$ z5 G# m/ d( K; k# |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 j  x% V" D. ]/ P+ q$ X( f扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* m3 V0 J) o3 D* l/ s" P1 u
計番回報率就已經係50%,所以可以好好賺
" L7 A8 Q6 q' ^$ W# V5 l& s前提係銀行之間要互相信任先可以咁樣借法; H8 O4 f4 Y( g! `% M
同埋個市場既前境要係好先得% V) F0 y3 j" v$ H  ?% \/ c$ o" O
但當經濟一差,公司估值趺了,物價不升反趺
. U$ c3 M9 ^* f# T# ~+ n, s例如剛才說10蚊的, 趺到得番9蚊, # |9 P; u5 D0 \* B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) Q: ?* r: x- y- S
所以你就會覺得D錢好似蒸發哂咁
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+ h% L/ r9 K( u/ ]# J: @# o" r  w你都可以當標野咁諗, 個樣野多人可以狂升值, ) W0 O: v" W- w) t" F
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,
* e6 k! r/ w# Y6 t2 X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' e: D; H, q  h0 c. Y/ _
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, u9 f6 `- V/ E- ]% k
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" X: e: ?$ q; E; H0 @  A唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 o/ O2 h, e8 u8 E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& }% I. P( y1 k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 V7 ]* O9 K6 F* T! j咁你話d錢蒸發左去邊? ...

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: `- p) S+ J" b1 T7 }$ }" O正係咁樣
- l* j! J; n! c* f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# L0 I$ i( T& Z& S
分分鐘佢地唔使還錢
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6 U( `* _' b2 v8 D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,% y3 @. f( o! R* b8 _
連國家都係問人借, 不停發債券, 印鈔票- p" A) w( R, K1 k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" C2 X! U2 ?$ C" p2 A* @* Q
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.gif0 V" |  V) w# J7 C. e
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ M% L  f3 `% w3 P! }9 u
因為以前未生產, 先消費
* M, Q( q9 m, i. R( y/ x5 T而家就要多生產, 少消費