0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 c: d- Q7 b/ U4 ?9 d2 F
Why bank will sell 借據給第三者???
% e. X9 F! @7 u( \  f% ]& |I was so confused.....

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講到尾都係賺錢: M0 T* f" W7 ~: q
so銀行可以不斷放款
' J" x  r$ j% b  O) ^7 O& c3 e" b美國的房貸問題散佈到全世界
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mortgage loan + e; b- o2 J* F3 f6 ]+ i* {
>conduit4 b- J, C* h2 e3 ~. c! F
>RMBS(Residential Mortgage Backed Securities)
8 I- e, m& y, \( w+ H>arranger
: Q* a9 G  |: l" B' ~  l1 K>CDO(Collateralized Debt Obligation)2 ~; S7 |0 p7 P) m' _
最後去到投資者

Kev

i thought it is the reason of rate of return.- j3 F$ U/ n% m) A; n
CDs could have different ratings, AAA -> F,
5 C3 ?5 F1 T1 v) `- T/ @more risky ones would have higher premium (interest rate) as a compensation for an investment.; T3 _8 E. |2 c; J. E6 |
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; E( J! @5 i  r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. m# Z5 Q9 H9 J$ z3 B, R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 R0 q* l/ k5 ]7 {similar to bonds, CDs trading in the secondary market have different value at different times,2 E4 x6 H% u: [+ }
normally the value is calculated by adding it's principle and interest.
$ [( T: W2 \; o) d& qeg. the value of the mortgage+the interests to be recieved in the future.
7 n: K% W5 P0 G% Qbanks 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.* U7 X) |& v& _$ D3 P( ?; ]
in stock market, it's the demand and supply pushing the price up/downwards.
6 h1 n! a! O% H3 i( D4 E) _  M+ A' [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& a! Z) `# ~9 D0 T/ Z5 i3 A7 k& A( iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 t5 o0 ~( l" U" E2 H9 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. : ]8 p4 R+ [( L" w4 g. F$ F
but the value of their assets did really drop significantly./ x! R* j( i6 _$ 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% T! g* ?6 s) n) `
Refer to last example,# p7 G% A, Q/ _, d2 y
that means bank A have no money because we borrow 10 dollars from bank A
! a9 N( ?( [2 _Because bank A doesnt have enough cash on hand
% ]  }, I! P# ^+ U$ g& A; m8 vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 E0 A- X: y5 F  `& C. Z+ B. I$ KA->B->C->D->E
% d% o/ [" {7 u% B! a( w  v. nso does it mean if E failed to pay D, / e1 n& k( d- z" j( h% h( S6 r
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,
, U% c* |1 i4 Lin this case it doesnt really matter how much money is created,
; d/ Q4 L$ b5 H8 ~it's the problem of the debt itself.: L8 z( v$ i& _- t7 Q$ S
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 E/ f- o3 M! L! \小弟一直都唔明...# X7 p# b) \; x% c/ ^! {" E0 F
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全世界都蝕錢，咁邊個賺緊錢呢?9 Z6 x5 H6 L5 {7 `- H
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無可能淨係有人蝕錢無人賺架嘛...9 ^6 O- R+ G8 `3 ^. A; o
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敬請各師兄解答
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8 `9 x) s3 h: a% i- lThanks

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那些根本係 紙上財富  
7 J2 K2 E2 _$ r( K4 G# S' `2 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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& {; r: z' ^  D% \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
! L) S# @2 r& R當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" I% x3 i) O5 P. u* k$ 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
8 Z# U4 z$ i' z7 B* q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  N& I& ^% J- K! l. S扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! Q& O3 p  v$ ?計番回報率就已經係50%,所以可以好好賺
6 H; V# y: U1 C2 A+ p前提係銀行之間要互相信任先可以咁樣借法3 N8 G; r  \& \* d2 ^5 [
同埋個市場既前境要係好先得
9 n" q* e1 d1 `& ~) ?1 o) P但當經濟一差,公司估值趺了,物價不升反趺1 B8 I; J0 D2 t
例如剛才說10蚊的, 趺到得番9蚊,
- q" y, ~3 h- y) Y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ v. v" Z& x4 o0 D0 G2 s* G& }2 V
所以你就會覺得D錢好似蒸發哂咁. e6 D) s- L4 g$ L) C1 i1 H

- {4 `& p* M" `- h7 J) ^你都可以當標野咁諗, 個樣野多人可以狂升值,
$ A6 d7 X1 B3 z/ T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, + G4 d! [$ f4 P$ w! S5 b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . ]/ Y7 ]$ y9 A3 C
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
0 s  L/ I* M. z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
7 I! i; k. G) k! g) e" [/ e唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' W4 {8 S8 g4 Q5 h# V8 s5 |1 x/ v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ F2 l+ i+ n  g: 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 a# H- {% H$ z5 H/ |
咁你話d錢蒸發左去邊? ...

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$ `$ v* K2 B4 Y7 ]& S. H- w正係咁樣  N0 Z1 g" [) d) ~. Q; c, r
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+ L" n, P, z  l5 H1 R9 k
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,2 y7 J/ k7 F3 @* d! p. i# Y2 O
連國家都係問人借, 不停發債券, 印鈔票8 |7 d) o2 i9 E* Z( [
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 }4 r0 F0 P$ N
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: c, s3 d0 E9 m, F, `! H
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% v  c; }5 m% G, k9 o其實係...( U5 M/ k) t# G, H4 Q/ N) [
因為以前未生產, 先消費
% S7 G! ]$ r( O6 X. H4 b0 ?而家就要多生產, 少消費