0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ N6 g  s6 V" j4 WWhy bank will sell 借據給第三者???
9 r' x" M. L: n& ~' [- b" hI was so confused.....

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講到尾都係賺錢8 c7 _/ V4 `7 K# U3 H/ {) s# h
so銀行可以不斷放款
3 p1 t( Z6 m" |美國的房貸問題散佈到全世界7 f  C& _( ^/ B% F. o

& |" h2 ~2 N" _- O( qmortgage loan
# h7 j- b, n+ x2 `7 Q; u. f, M/ i3 E>conduit  R9 J/ }# S1 N2 f- O" {
>RMBS(Residential Mortgage Backed Securities)  Y( B( q2 ]% j
>arranger
4 s; t. {% T2 z" g6 r! j8 @) R5 Y>CDO(Collateralized Debt Obligation)" X! d; G% K) b* w4 V
最後去到投資者

Kev

i thought it is the reason of rate of return.
1 U# ]# M2 P1 `CDs could have different ratings, AAA -> F,! V% _3 i9 C' [# y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. g( v9 m3 y! x7 z  O* ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# z: e3 y7 C$ C# A7 w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." [/ g( n4 x! x/ V- D: o( N2 i( o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# s4 [2 x- Q$ Z( k$ t: F+ osimilar to bonds, CDs trading in the secondary market have different value at different times,
, ]- s. {6 _( enormally the value is calculated by adding it's principle and interest.
+ `# n% ^7 t+ H& @0 B' Reg. the value of the mortgage+the interests to be recieved in the future.
  x( }6 X2 Y2 u. s0 P2 Rbanks 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 _+ A9 d' E* \; L+ Mim not quite sure if the multiplier effect does really matter in this case.
& L/ k' {7 r) N7 Pin stock market, it's the demand and supply pushing the price up/downwards.
9 K( s4 P6 G8 L" j4 {' m( ?For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 {3 ]7 j, O3 |$ `( J6 _A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 W2 p7 M8 |" W4 U9 d# W
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. # M, B, h* p: f7 J: S* D, J! `8 Y
but the value of their assets did really drop significantly.9 x$ q0 s( n3 ]. J
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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" y! x% h5 A9 S" [! T7 F' y
Refer to last example,
& r4 S" W5 P3 S& Wthat means bank A have no money because we borrow 10 dollars from bank A
. s3 Y4 [' c; J/ eBecause bank A doesnt have enough cash on hand
( z: _9 u% g2 H9 k: M* e' ]therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E  x% g2 X  j/ ^. y9 G3 y9 _* [3 t0 P* f
so does it mean if E failed to pay D, 2 P0 w6 {) ^; V2 ]' m$ }  h* a
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
: G8 t+ s& X9 \8 H/ Cin this case it doesnt really matter how much money is created, ' M' c4 ~! \8 x5 w; j7 ^
it's the problem of the debt itself.
6 V. p( `% i$ q* Fthe 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.gif9 F: R& a6 F5 i3 g5 N/ D& D
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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) l1 J, D5 _2 I# d- P/ F無可能淨係有人蝕錢無人賺架嘛...) ^( W( U3 ^, r0 h/ Z3 B( L

5 O* O8 A- [- z7 b敬請各師兄解答
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. Q1 P0 f/ U, e1 q  S; P. s8 Y, WThanks

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那些根本係 紙上財富  : B5 w$ W% o* N' B) E4 f3 b
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% z: n1 P% P& U8 F

* M% [+ {6 W- A% P# yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
) g' n+ \6 w; k2 H5 r當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 T3 o0 O4 _' m( F% B  ^+ R! l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
# A9 Y+ ?, H1 M: B個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" x, s9 W% A* k  h" `# U7 e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
* G  G" t- z8 ^9 J( @4 j. W3 f" N" `計番回報率就已經係50%,所以可以好好賺( e& m: ~( n; _2 a; o6 z6 e
前提係銀行之間要互相信任先可以咁樣借法+ y* d9 Z0 Z  H+ a! m' i
同埋個市場既前境要係好先得( H5 s' P. z5 @7 c& d
但當經濟一差,公司估值趺了,物價不升反趺
4 ]& S; F+ A# R例如剛才說10蚊的, 趺到得番9蚊, - J: F+ K# \6 @: r) u* u( |
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 u" ^3 ^/ h) ^6 j) a. A) f4 x
所以你就會覺得D錢好似蒸發哂咁5 Q; M) r8 m( b4 ^! @6 e! n( o
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你都可以當標野咁諗, 個樣野多人可以狂升值,   o5 O7 e0 W" n9 B/ `! L: _
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,   s5 h$ g8 J: x& z6 L4 x. `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ m! V  j/ D$ c+ 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5 k5 o% V) n+ z- E/ Z! A9 B8 x
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+ p' G" K: u6 g- S+ Q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! k# P; C* m5 S& K+ I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! R# |. T# K7 m& U% p7 L1 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
5 V" g8 r6 K% X! m) e5 k7 Q咁你話d錢蒸發左去邊? ...

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* c. A5 v) t2 G8 L4 @正係咁樣4 [, M* w! c8 s  C+ j4 Y5 y
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2 u' T; W5 G2 b/ X1 L; d
分分鐘佢地唔使還錢) u. d1 M( Q3 ~

/ {2 s" z$ \/ J4 ~( {4 {! a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,* `1 C( f8 S9 T4 u% j
連國家都係問人借, 不停發債券, 印鈔票2 k4 t, B# w, m7 A5 E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, R  E6 Y4 U" c% d; U; j) }2 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.gif5 S9 b' X( P3 _
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
; l% F, L2 l  O因為以前未生產, 先消費
* V2 U8 e( r! H5 C7 J5 N而家就要多生產, 少消費