0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  C) p, w8 u; a6 L+ |
Why bank will sell 借據給第三者???) |/ y/ e2 ^2 s+ ]- b/ Z
I was so confused.....

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' _/ y( @9 r- f' T9 x: X: {. h( R講到尾都係賺錢
3 E% B. y; B8 J8 fso銀行可以不斷放款
/ _2 Q+ b# |  A. \3 C8 ?) X; C& u美國的房貸問題散佈到全世界
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' b0 z: K" _- t. Kmortgage loan
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>RMBS(Residential Mortgage Backed Securities)
3 U* o# ^( R* b- Y8 B>arranger
- I. O8 i# r; r* S) z# m2 W  y>CDO(Collateralized Debt Obligation)
) B! W7 c* c% O# e最後去到投資者

Kev

i thought it is the reason of rate of return." H! }' D! u2 o
CDs could have different ratings, AAA -> F,4 M0 I, I7 e$ s8 T" }" E
more risky ones would have higher premium (interest rate) as a compensation for an investment.
/ F+ q/ o" r5 |" m3 w, dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  R! X$ b9 t4 S8 H0 b* j& s& y9 m: _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! h6 P, p- ~0 bAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 `' o$ \' V! [- a5 a9 csimilar to bonds, CDs trading in the secondary market have different value at different times,: r, W$ w9 h; }
normally the value is calculated by adding it's principle and interest. # N& N/ o+ ^5 [# @4 O
eg. the value of the mortgage+the interests to be recieved in the future. 2 ^  f2 w/ e/ S) j* f4 c) 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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im not quite sure if the multiplier effect does really matter in this case.
# p( K8 g6 Z3 _! I4 }9 m* iin stock market, it's the demand and supply pushing the price up/downwards.
- ]7 p. K3 L( f+ M9 {6 ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 l; K5 q. _6 V9 \. k
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., t, s- b% O" [6 h9 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. 4 L7 w& N% B% k
but the value of their assets did really drop significantly.
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; f* h6 ~* Q4 \- e[ 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  V0 {6 n! d" }/ C
Refer to last example,+ F* o$ U$ o/ ^! @
that means bank A have no money because we borrow 10 dollars from bank A
+ ^# M0 x. b0 Y0 e! D5 e& ^Because bank A doesnt have enough cash on hand
/ _# |; A  ], ]1 ]/ utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; ~$ o8 z' X1 bso does it mean if E failed to pay D, 0 A5 Q5 x9 i0 g/ B' b0 i# L
all the B,C,D,E have to go bankrupt?
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# S$ A# \4 L2 y$ ithe multiplier just tell how much money created in a whole economy,
6 M- p4 b. o/ l5 E( L% ~# A" iin this case it doesnt really matter how much money is created,
' s- Y2 u/ b  r4 Yit's the problem of the debt itself.7 q* z) l$ b/ [. [' B
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
5 @) b" G8 ^5 b: G1 ?& p+ J小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?& N# q: N, ~0 h! j1 k

# K+ `$ G# ?' Z: x( C無可能淨係有人蝕錢無人賺架嘛...
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2 S) c0 g  D- ^- h, M4 |敬請各師兄解答; g/ k: ~5 J. s: F' s' F  W) l
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Thanks

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那些根本係 紙上財富  ; P0 a5 K% t- d" b- ^; [  K& 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
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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
) y& R  P9 T( M8 K3 c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 w" H& J# N( q% f# m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7 {% f- n) A; Q# l0 q9 b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" ?! @! H5 _) F$ `! K
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 }- h6 t% q5 a: k3 Y; ?計番回報率就已經係50%,所以可以好好賺
. \% z8 R3 C1 u/ p9 w前提係銀行之間要互相信任先可以咁樣借法& H5 Z4 ]" a/ K: S
同埋個市場既前境要係好先得- N. [8 G+ \: u+ f
但當經濟一差,公司估值趺了,物價不升反趺6 x1 l- e, ?5 V% O
例如剛才說10蚊的, 趺到得番9蚊, + z9 R5 K- G4 \- \, H
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  ]. X$ o) z9 g& F1 X0 @) N$ b所以你就會覺得D錢好似蒸發哂咁
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. O: K7 H8 a. Z9 v" Z4 H你都可以當標野咁諗, 個樣野多人可以狂升值, , e# {" \9 M, |" s& 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, 4 _- R: T9 x# [: n) k( E& f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. Y9 }" f; S1 [8 ^! E0 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, N! P4 |) C# O7 b( A- f( ?
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.gif7 w' K4 `: t+ |
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 t7 R5 F% m$ z9 T% j$ C3 f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , f5 ^& Z* n0 Y4 J
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
! n* X5 h5 v2 q3 C% b咁你話d錢蒸發左去邊? ...

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正係咁樣
0 n0 Q; R7 b. E: ^$ S$ C4 D; M7 ?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
: h( |& T3 _/ f3 Y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,; x) m4 s( `( V
連國家都係問人借, 不停發債券, 印鈔票" f! B: h! Z2 N# v$ @
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ z$ P( }% G4 K1 l) ~- }% B% g
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.gif9 m9 [( {+ k! k0 W2 C
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
( C! \) X% f- `7 L: [4 u& h因為以前未生產, 先消費
% N; K( E( A0 a, A/ L3 [4 N8 `而家就要多生產, 少消費