0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- o' Z) P7 @! I  D! b% O- ?Why bank will sell 借據給第三者???0 a" k$ W' _. `5 \: {4 Z( l3 [, i
I was so confused.....

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講到尾都係賺錢
2 I7 K: d* m" i8 v7 ]0 n2 E; C% S) Bso銀行可以不斷放款' A5 I# _* _0 L, e& F: U5 L
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)2 B. |. \% G7 B8 _# B
>arranger
) F& T7 A+ W, O9 e/ U+ s>CDO(Collateralized Debt Obligation)
4 M! g2 y0 y* L4 }# w$ @) R最後去到投資者

Kev

i thought it is the reason of rate of return.
$ z" [, z" i6 n0 X% `; X1 p+ }2 P) cCDs could have different ratings, AAA -> F,
; n* P* L  H6 L& l$ ?+ i" z; ?more risky ones would have higher premium (interest rate) as a compensation for an investment.
/ a' F& G: r7 p; y; R! z! Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' M+ _  T9 h" iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 c# O$ A' z8 A. s  Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 F( c6 Z6 Z8 s6 L& |/ {3 qsimilar to bonds, CDs trading in the secondary market have different value at different times,
2 O* b+ \( l0 dnormally the value is calculated by adding it's principle and interest. ; B2 K* ^. o; |( m+ A
eg. the value of the mortgage+the interests to be recieved in the future.
* F* z( v& j3 `- m4 D+ }$ nbanks 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.* e4 w' V/ n3 V
in stock market, it's the demand and supply pushing the price up/downwards.
; F/ C& y! V4 p$ d3 u: z+ y+ n. DFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: ?, F4 I6 c- z" u1 MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) A* Y4 Z4 V) z4 e: ~% b
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.   Y, q7 g, ?) \! |
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
) }1 `* }" I& o5 ~Refer to last example,2 q% D7 P( y3 J. N0 f; t, l& ]
that means bank A have no money because we borrow 10 dollars from bank A - U8 L$ \$ |! \- W% A6 ~, D# a1 y
Because bank A doesnt have enough cash on hand
+ M# |" Q& `" y2 itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; a1 i7 b% `% `# E* B! u* bso does it mean if E failed to pay D,
0 R$ w* ]5 C! L0 ]all the B,C,D,E have to go bankrupt?7 l+ ?/ G( \6 ~
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the multiplier just tell how much money created in a whole economy, & J; F, ~, T8 g: a
in this case it doesnt really matter how much money is created, 3 a: {7 C$ Z3 I! T# [5 |8 N7 M
it's the problem of the debt itself.
8 y* s6 g! a( a# N! ?, ~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
4 U3 V, Z9 ~) @6 G5 y- A小弟一直都唔明...  G" ~) U9 U- k( V, P9 t0 l

1 x7 B: @5 O$ C) y% ~; \全世界都蝕錢，咁邊個賺緊錢呢?
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" T2 q; Y  q, R9 R3 [無可能淨係有人蝕錢無人賺架嘛...4 V% T6 o0 C1 {, _# b

3 H# s4 Y$ f% M9 i# q敬請各師兄解答
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Thanks

! Y. G. Z! q' P  I9 S5 Y3 z, b8 O0 O那些根本係 紙上財富  
! Y5 p6 u& K# U# e: Y6 J" K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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- ?0 d, v4 A- ]# m/ o0 Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ A% A: t" A5 @6 E: E( C  B+ c0 o, h0 q
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- \! J8 ^1 M& n9 A
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
; {+ s0 x, q( v* F" F% ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, z: S1 _5 ~2 O/ A! o  Z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ F+ Q, }. `2 S7 D" |# o8 ?* x
計番回報率就已經係50%,所以可以好好賺
  s, Q$ d% i- }3 ?5 ^0 C前提係銀行之間要互相信任先可以咁樣借法
- y6 B  F/ {& P* @: k+ k同埋個市場既前境要係好先得
, L5 Q$ ]( _6 y. b# m+ R- c( Z但當經濟一差,公司估值趺了,物價不升反趺8 F+ p2 @) C. f; I2 \
例如剛才說10蚊的, 趺到得番9蚊, , B; E9 T7 D  C( ~  b3 S* d
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 C9 h- K% k0 G3 q  ^- F* @所以你就會覺得D錢好似蒸發哂咁* \$ |1 }! v& ]/ A: ~( |9 H

8 Y0 I) O8 b9 O! w/ v你都可以當標野咁諗, 個樣野多人可以狂升值,
) u  H5 W) I3 `3 f6 e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, . {& F9 R0 ~# \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) U: W6 H9 q3 e# R1 t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4 h- G7 B+ Q, C! V- r, ]
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: \' h+ j6 D* H  U) z
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 ~" w3 D( r' w- ^8 M2 ^+ L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- t2 @' \2 c' X* }2 z& q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 O  c0 N) L$ |1 D3 {
咁你話d錢蒸發左去邊? ...

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正係咁樣$ k5 H/ u. }2 V, Y2 i
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
4 h$ f! n( C8 e" C6 k分分鐘佢地唔使還錢6 C/ o/ a+ x( u4 A9 P3 j- c6 ?) o
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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, D$ G" J* v2 Y5 ?3 D- X
連國家都係問人借, 不停發債券, 印鈔票. |% I: L4 m$ n
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" K; D; }" Y2 m. x% w2 {
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
2 a2 n: V8 e% a5 u0 t咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
. R& C# C7 \* ]9 N* ]5 K4 y因為以前未生產, 先消費8 I, ]  k9 h: K9 o: u" O0 m( x# R
而家就要多生產, 少消費