0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* D( G1 e" D/ H5 {: H5 K1 y
Why bank will sell 借據給第三者???) C% g0 I' U& X3 `* \/ z) {4 z4 M
I was so confused.....

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講到尾都係賺錢6 r& v+ K& Z6 b% i
so銀行可以不斷放款
% ?/ H, J5 l( f: N美國的房貸問題散佈到全世界" l8 g/ l* B" |7 k8 \$ m7 Z2 i2 i
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mortgage loan 6 ]  O9 [2 P/ |7 p. X( T. ~
>conduit  Z1 {" Q* j% i0 C5 L# Q) Q
>RMBS(Residential Mortgage Backed Securities)
( k0 J7 }) b2 O) `>arranger
- Q0 ~& Y% {2 s6 \2 i# k>CDO(Collateralized Debt Obligation)) G7 D% S, w8 k7 v; W1 Y
最後去到投資者

Kev

i thought it is the reason of rate of return.7 Y/ k/ H; |2 Z8 u; i+ j
CDs could have different ratings, AAA -> F,
0 p3 y2 [% j  f6 H# c# ^more risky ones would have higher premium (interest rate) as a compensation for an investment.6 q3 n! x; e. O( x- L: |+ e( ]( }4 f0 _! u
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 |' p. w4 z/ {
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, U( J7 ~% I* I" ?9 d5 ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ n' p% a; @# c& |: L  k5 L
similar to bonds, CDs trading in the secondary market have different value at different times,* c( I% S4 A/ E) a) H9 c
normally the value is calculated by adding it's principle and interest. 9 u8 |7 `" F; X0 x
eg. the value of the mortgage+the interests to be recieved in the future.
: c* y! h/ u1 Hbanks 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.9 q5 \4 V" E$ _! n2 }

6 m6 _( ~4 q1 H( nim not quite sure if the multiplier effect does really matter in this case.
8 S, z0 D/ U# d+ \' Win stock market, it's the demand and supply pushing the price up/downwards.
( W8 P4 e& |3 u) T; _/ W3 U& gFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- Y& H, y* W6 i& G) c& u) |% B1 g# }
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! V) j8 k3 j) }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.
3 Q; B7 ~1 Y; L2 V* Y$ e( Ebut the value of their assets did really drop significantly.9 w6 s! a$ D# @  l! w. I% N8 N) R
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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
6 ?& n% ^4 i; \. d7 aRefer to last example,3 m- m- |  ]0 z8 Y
that means bank A have no money because we borrow 10 dollars from bank A ) r. o+ ~7 s+ }2 ^; n7 d
Because bank A doesnt have enough cash on hand : }. w0 J1 O, q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
* j- z; u" X+ R) [# D6 h, y7 jso does it mean if E failed to pay D,
0 _2 t  g) R8 p3 i/ _" n* }+ gall 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,
' {( H0 s+ |  W& s& U3 J' Nin this case it doesnt really matter how much money is created, 5 B6 Z( F* Z/ j6 x( {: s
it's the problem of the debt itself.
$ s& g* _" e& [# _2 d  N' pthe 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
3 v+ V( j$ O/ Y: |. u" h* @9 T小弟一直都唔明...* _0 g1 n- ?9 }4 K" i; L
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全世界都蝕錢，咁邊個賺緊錢呢?& i" b, e1 x, D1 A

; v# \, X9 c7 T無可能淨係有人蝕錢無人賺架嘛...
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7 i9 G8 n7 N. E* C" g8 _敬請各師兄解答. I' J) ^( o. [9 E
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Thanks

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那些根本係 紙上財富  # |- L6 O0 X  K( M8 H3 e
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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9 j) T6 ]5 U+ P  Y! c; Lhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 M: V: H2 ]; q9 }' P- R當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 I2 ?$ b9 k: d$ h4 t2 I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/ M- W) Q# g; ]  c  y9 `7 k; A3 X) Y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! k2 E! A1 U( q. U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( `8 W. e9 \* x2 ^# F計番回報率就已經係50%,所以可以好好賺
  r. n( N# f0 [) E7 k前提係銀行之間要互相信任先可以咁樣借法
  N' J" x' ]; K* V1 C; \同埋個市場既前境要係好先得' Y0 \$ |" B6 K, r" Y- w% y
但當經濟一差,公司估值趺了,物價不升反趺
6 p& a- t( {3 x# J5 O9 U' o9 ]例如剛才說10蚊的, 趺到得番9蚊,
/ @' a! A; C' I% f咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. R. u' M) i* {& s# `3 j7 k  ?
所以你就會覺得D錢好似蒸發哂咁, n+ G/ A# H. I: a8 h. a" `) p
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你都可以當標野咁諗, 個樣野多人可以狂升值,
. }$ w) R% n' |. Z; D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, , I. M1 ^0 C# ]1 j1 T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; c$ E2 j$ B, d
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: ^) ]: ~. u/ q; a8 _5 B. S
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
' c% Q- ]- C9 r; L8 v唔係d錢蒸發, 而係比美國佬洗晒未來錢, / W$ A3 V3 L: J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * I- h8 o7 v! x1 o( x" @
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7 o" U, k/ h6 F( H8 g) q; K
咁你話d錢蒸發左去邊? ...

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/ i  M# h3 i% Q4 k7 ~9 O1 |  {5 O正係咁樣' _0 W$ t0 I- U5 G6 Z
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
$ |* \# \( ~6 z$ a- B分分鐘佢地唔使還錢
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/ ]0 j- i( g! ]! q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,3 D  \$ f7 I( i5 u# j) }/ X
連國家都係問人借, 不停發債券, 印鈔票
- j  X0 E4 D: H, J1 d, s7 g+ e2 d# T一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 M0 e2 g# `( |5 f# }2 F+ N$ s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
: |- Z, r' J5 ]9 n9 c  [8 O咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
% Y1 H+ m- W4 o8 \: Y因為以前未生產, 先消費
8 k7 R. S5 X( T1 g( S+ W% h6 y而家就要多生產, 少消費