0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: \4 b* ^4 E8 k7 C$ i' c& [Why bank will sell 借據給第三者???
# i3 {! Z" N, F. ?7 m( {  |3 u& C$ {I was so confused.....

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講到尾都係賺錢" j  t5 C# ^4 T% `% M! t+ `3 I
so銀行可以不斷放款7 T* o$ E, }& ~
美國的房貸問題散佈到全世界5 ], l' d  c% n) U- [

9 Q. E# h7 u6 `' [" Tmortgage loan
/ {- d" B' Y5 B5 N>conduit
. ]' b" L0 y# F& A8 g>RMBS(Residential Mortgage Backed Securities): s5 k, ?' l; b8 ~8 X; P
>arranger
5 a/ E4 j" I  }; x; Q/ w2 V2 b>CDO(Collateralized Debt Obligation)
/ }. Z# ]( C4 a, w最後去到投資者

Kev

i thought it is the reason of rate of return.' v, E! q0 P" J) J
CDs could have different ratings, AAA -> F,, e& r; s+ r6 ]0 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& \+ g- e+ K& F% \8 S2 Z/ Zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ c6 f, L* q6 t7 A' e  l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 t. \+ W. M( R# Y8 {/ Z, f8 c; d# aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ f( c  I) Y& u) ^4 H6 j
similar to bonds, CDs trading in the secondary market have different value at different times,! K$ [  }' U. P7 D  p1 _
normally the value is calculated by adding it's principle and interest.
+ F8 p7 k& z/ I. e6 yeg. the value of the mortgage+the interests to be recieved in the future. 9 u9 Y- u% ?$ p9 [
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.( H: e  V' K* X/ \! O  P% F" {* I
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im not quite sure if the multiplier effect does really matter in this case.
* O) n# h1 Q( rin stock market, it's the demand and supply pushing the price up/downwards.
9 r8 Q0 }% a7 R7 B0 L, F5 SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. k* a) Q' u' M7 W7 H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& O* N. Q9 M9 @% yThe 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 a/ X. W+ `. N
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
6 P! z% b/ J3 LRefer to last example,
: d* m( Y2 X* f& k" a! o/ V, Athat means bank A have no money because we borrow 10 dollars from bank A 0 g2 r3 x2 r0 E3 g3 ~* p" N
Because bank A doesnt have enough cash on hand ( C9 S4 S+ G/ N6 `3 g
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
1 ^2 M2 I; X8 O9 [  V9 p/ nso does it mean if E failed to pay D, $ I2 w( C7 N3 g3 G, c' E4 Z
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,
8 T# f( ]# F, v  W3 @in this case it doesnt really matter how much money is created, 4 d* ]' E4 C/ U5 ?' L& u
it's the problem of the debt itself.- `0 ?4 i- z( Y( P
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.gif3 d9 T2 E; ?' T9 r
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?$ O' P7 u' F  [& Z. ?3 |
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答. W8 ~: u! U% i0 ]- @

4 Y& P4 ?& u) {. ^# Z$ SThanks

* P* n9 n3 x% `9 u那些根本係 紙上財富  
3 |/ m( ?& x/ U! N# N* 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- J4 g- j# M& u: Y1 {
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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
9 A% a3 I! e! M; ?5 i# ^當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* f- {) s, B. b# Q. t3 L' u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
* O9 g( X  z" l% Z3 B6 l# Z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ p+ ^+ D- m# x" c" o% Z& w2 D扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 ~8 R4 |  D4 i, x2 b: F計番回報率就已經係50%,所以可以好好賺
0 `8 l3 V* D+ j8 }7 }前提係銀行之間要互相信任先可以咁樣借法
! f3 U7 ~$ m9 i: [同埋個市場既前境要係好先得
3 U9 `% K& ?# e6 u但當經濟一差,公司估值趺了,物價不升反趺* t( T1 v0 k3 `) X: P
例如剛才說10蚊的, 趺到得番9蚊,
# j2 _) i# o3 I0 g+ ?咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 _8 b2 l$ @& M) d; Z  |% H; e5 ]% j所以你就會覺得D錢好似蒸發哂咁( g1 Y0 K/ ^( k" H
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你都可以當標野咁諗, 個樣野多人可以狂升值, & G! j8 B' d% b  |" V9 z, c
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, 2 r4 Z4 O; d" q: Y2 [, h* i- u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : l& n/ i) G" b3 R" 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
1 s, h& E, H6 ?) X+ w8 Y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, w! r, f$ l! `+ z$ V) n
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: t4 @  j9 E9 ]  d4 ^# m1 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: k" P, k6 ^/ C* b' L  z7 G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8 C1 G. n4 Y& p. k
咁你話d錢蒸發左去邊? ...

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正係咁樣
. U' q5 {- K: c2 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
) q' Z* |. E) z' S, ^8 r# J分分鐘佢地唔使還錢) P8 \* E. i, C% x

9 V4 h& y8 x7 z; d: y) ^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,
4 O. C, m( [) r9 ]" T# b: d連國家都係問人借, 不停發債券, 印鈔票; f" ^5 z% E& w9 s3 T
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' F+ C& g2 q. a  m. {- q( @; b
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
0 k, ?1 \4 N1 E: c咁而家"爆哂煲"算唔算先至係變番"正常"???

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# S2 D3 _" n& Z1 F+ I" R其實係...4 l! ]7 @6 `! E, y( Y. O0 e- y
因為以前未生產, 先消費3 F: m" Z9 F0 g7 h1 [" ^6 L  P8 k) F
而家就要多生產, 少消費