0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 h4 H- a8 p# KWhy bank will sell 借據給第三者???
7 O& N, x$ n0 m/ bI was so confused.....

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講到尾都係賺錢
* {; u. l2 H' Q8 s7 n" J% eso銀行可以不斷放款
3 n3 \4 ^* }0 T6 G/ w+ k; @9 S美國的房貸問題散佈到全世界
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mortgage loan
8 `+ p/ {* ^  b>conduit! L* S0 c7 _! {# l6 {" Z4 f
>RMBS(Residential Mortgage Backed Securities)
% j; h$ l& M7 N' q3 T, x6 \/ N2 m>arranger1 c" D8 b7 y8 x1 T: M$ Q7 I7 m
>CDO(Collateralized Debt Obligation)
0 l! a' G& ]* \) s最後去到投資者

Kev

i thought it is the reason of rate of return.8 S6 |! o! J# i: J' e& l5 o
CDs could have different ratings, AAA -> F,
7 k; C0 Z% p3 h( {more risky ones would have higher premium (interest rate) as a compensation for an investment.
- `4 N, x( u8 A8 _1 d) y  Amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 ?  P: c. p0 t) V+ k$ f* n( u
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 P- i8 C$ s5 }3 J4 y9 {4 Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" T, J% S) E$ Lsimilar to bonds, CDs trading in the secondary market have different value at different times,
( L' _& \0 x% Z, z8 k7 [# {$ [normally the value is calculated by adding it's principle and interest.
' {8 f% N5 _& ^( ^  v& Deg. the value of the mortgage+the interests to be recieved in the future.
& t  |5 K# n9 S: ]6 _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." O# a- y, l, v8 L8 _& ~/ n8 g
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im not quite sure if the multiplier effect does really matter in this case.7 p/ {' x. w0 Z3 ^& M
in stock market, it's the demand and supply pushing the price up/downwards., W3 o% q  x- d& G
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& W( O; m: ~/ E8 R! `3 q, m- s
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& Z, `% s/ X. q7 l9 DThe 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. 9 e* h6 k: J1 L, E0 r# x
but the value of their assets did really drop significantly.
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; i; t0 \3 k4 k0 V5 E' s5 A[ 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
) J- Z6 t% u; S1 I$ GRefer to last example,; J# D2 W9 {2 O# z9 @, P, Q( \
that means bank A have no money because we borrow 10 dollars from bank A
/ Y- L' k, d# B! i; L9 M' E* Y4 WBecause bank A doesnt have enough cash on hand   g7 @- W" j0 F0 Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
% q$ ~: E* V. r" a3 eso does it mean if E failed to pay D,
/ v  b' w' p' }, L$ H# M5 _  J* rall the B,C,D,E have to go bankrupt?: j! p! N% U; Q4 T2 O
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/ ]" f4 ^& D* h7 j" Sthe multiplier just tell how much money created in a whole economy, 9 q; L6 C6 X, M* \
in this case it doesnt really matter how much money is created,
. X+ |$ V7 I5 E3 L9 M5 Dit's the problem of the debt itself./ G" j# g1 w8 P+ ~' ~0 C
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.gif5 E" p- G; i# U8 i
小弟一直都唔明...) ^4 z% t9 e  ~  v( x) [
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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9 K5 J' z3 m1 P  x  c/ A敬請各師兄解答
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8 H  E, o5 Q% E2 JThanks

8 d: W* F+ [! e/ z$ m那些根本係 紙上財富  
1 R7 f7 v$ U& {) 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
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+ f8 T$ l$ U$ U1 ?2 @3 P1 [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
: W6 [4 t# I2 o: t# R; o當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 P; l8 U) F5 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. Y1 h2 S" {, ]3 e  \5 E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& r: a9 c0 v1 Z* S
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 Z0 S- T5 y" [; B% L5 T6 F
計番回報率就已經係50%,所以可以好好賺
: w8 v: S0 y1 E/ d# E0 R, s7 G前提係銀行之間要互相信任先可以咁樣借法
, d$ g/ R* C& k5 ~/ E" @同埋個市場既前境要係好先得
( U" y: ^# m4 M/ J; D但當經濟一差,公司估值趺了,物價不升反趺* n4 G2 j0 C5 C# K% W
例如剛才說10蚊的, 趺到得番9蚊, 2 v: F; H% j. z" t5 Z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% I4 r  }0 f( j% a9 V/ N% o/ M0 L. D
所以你就會覺得D錢好似蒸發哂咁& {4 Q9 G; Y  n" o$ Z: h; T

9 e: H; o7 s- R$ u' }' T你都可以當標野咁諗, 個樣野多人可以狂升值, : a- X7 M- F: ?# H( _. p
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,
. t* v5 F  x/ N: m* O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / q) e8 x6 z1 {# c3 \. e
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- v& z) R2 G5 ]+ B2 P% ~' C6 J3 @
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# O" G  k# Y# [( L9 D9 |$ X
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 v2 c4 a; w9 }% T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. W4 q$ B) G) ]9 w) ^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
# K7 {4 e# Z, E2 t1 x咁你話d錢蒸發左去邊? ...

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2 Y( z: F( u( q& C4 f+ i正係咁樣
* N; B5 Q. {- a% ^* d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
. D+ e: q0 ]4 Y! j分分鐘佢地唔使還錢- }1 b  N, W9 e% V

. c0 e$ }4 U$ S. h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,
: Q9 j9 S* n$ [# A連國家都係問人借, 不停發債券, 印鈔票
6 a' N8 F* N$ e一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; c, X% A4 J9 ~: {4 [8 m  k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 K" y& ~+ P6 M! y/ V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...; `: `2 b/ V/ Q* _' N. w& `# H
因為以前未生產, 先消費. n. K3 q; i8 X6 J  Q/ }; r
而家就要多生產, 少消費