0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 O6 t7 N9 D" e+ g5 n9 |
Why bank will sell 借據給第三者???
) ]2 ?' G0 }- h- ZI was so confused.....

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3 S4 R8 q. A7 d+ E講到尾都係賺錢
7 C$ j% k, ?! u& R) A! `2 `so銀行可以不斷放款3 k( D$ H8 f, g
美國的房貸問題散佈到全世界
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# Q, \+ [, k# E* y; K' }! v, V' umortgage loan
3 }3 y  j( Y, K>conduit* [# K# P, m5 E/ D1 }4 o1 r
>RMBS(Residential Mortgage Backed Securities)
% S/ p: U: R9 }9 d( X0 {>arranger1 O0 I( n, k" W7 i! M
>CDO(Collateralized Debt Obligation)3 g0 _0 Q9 r2 @% m+ i" w
最後去到投資者

Kev

i thought it is the reason of rate of return.
" @% x4 V# m, o& f& W# E/ aCDs could have different ratings, AAA -> F,3 Z; R& @' J0 c( X" Y% L
more risky ones would have higher premium (interest rate) as a compensation for an investment.! X$ s& h0 D, I! z: B9 y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 I' |- i0 S6 u! X- z; {2 D9 v  ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 C( z3 g! o4 k
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; ?( F4 P& [* U1 V- g
similar to bonds, CDs trading in the secondary market have different value at different times,
/ ^, \+ {$ [! e) B7 P9 h& N% S6 p# B- rnormally the value is calculated by adding it's principle and interest.
4 Z: ^: J. b! `$ X7 Geg. the value of the mortgage+the interests to be recieved in the future. 3 k( w8 A& [0 p6 ]# p4 `2 m' |( M
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.# D" A7 D  ^" h5 W8 Q( {

% S( w4 }% @3 I: F7 Gim not quite sure if the multiplier effect does really matter in this case.
  a  E) |5 b5 _$ e1 {/ `0 c6 s. Ein stock market, it's the demand and supply pushing the price up/downwards.
4 j- M: W) q2 V# VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; O9 F! m' q# h4 l
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; A0 c3 f( L  p: n7 S( ^
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.
; C0 D  X; B0 T! P+ b- Dbut 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
3 i, D6 P. p7 ]+ H& mRefer to last example,
4 W6 _1 v! Y$ ?; _that means bank A have no money because we borrow 10 dollars from bank A 3 g% X9 H4 Z0 _* a2 ^8 n9 [& f3 [8 f3 H! n
Because bank A doesnt have enough cash on hand , |4 U$ G4 O  w2 U5 `  u
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E  f& N7 e# E$ C
so does it mean if E failed to pay D,
# d4 z3 x3 o' ]0 dall the B,C,D,E have to go bankrupt?$ ?* t6 R$ N  Q3 f/ _
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3 @# |% Z) Z$ T1 @7 Jthe multiplier just tell how much money created in a whole economy,
. p4 Q2 p) P7 S& r2 c; k/ j3 Din this case it doesnt really matter how much money is created,
" E# o7 C: [& S6 P& p$ ^% j# C9 Vit's the problem of the debt itself.
+ r  O& `* |% g( S* Uthe 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
! w; A, n' u$ N3 N3 [小弟一直都唔明...' w. v$ t" Z- q

0 X% x/ W# a+ k3 X全世界都蝕錢，咁邊個賺緊錢呢?% |1 G- a1 Q$ O9 J9 [1 {
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無可能淨係有人蝕錢無人賺架嘛...) C# Q1 J0 k; S# L, r8 \! L& I: y

7 T; T+ ?' r- G" k% _敬請各師兄解答
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9 K- i% G8 n! k. F3 |. ^" Y& PThanks

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那些根本係 紙上財富  # ?8 D+ i9 }# e  m- S
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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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  w4 h1 u# G. @; v) Y# ?
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# A3 h( {( F$ I+ x- Q
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
0 o, {" C. i; v0 v$ {7 v2 j; k9 _個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ O' c; o* ]# g# n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. X5 _4 l& |0 f2 C' ^- _5 R計番回報率就已經係50%,所以可以好好賺; L$ q1 e& f/ j2 L9 [, X
前提係銀行之間要互相信任先可以咁樣借法
  _9 F: M( |) l6 D4 F. c- r同埋個市場既前境要係好先得: A; g2 ]/ G- [/ M' C
但當經濟一差,公司估值趺了,物價不升反趺9 \9 L4 l" T; n: t, U* o; P
例如剛才說10蚊的, 趺到得番9蚊,
# H6 n$ V/ s* l: N" D$ @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. ~5 Z: z) i! z" M所以你就會覺得D錢好似蒸發哂咁. B# d8 b" M& g! y

) O" h; x* z( j你都可以當標野咁諗, 個樣野多人可以狂升值,
+ z5 V% ]6 z$ j5 C# O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,
: f1 x) \$ p: z, a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 g/ W, p0 U0 d0 U9 F2 C/ b# L7 y
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 O5 E& E3 u; N
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
  `4 U2 x; }; X0 t8 y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( O& Z; w1 G4 A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* {, k) k- S% O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. J1 L! [: o4 k: O3 _: E. V3 ?( ~
咁你話d錢蒸發左去邊? ...

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+ k2 B+ q% H* h# P5 e正係咁樣
! @+ j: R0 V- A8 r3 g2 u1 P; f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5 }1 i7 _+ n# Q# `
分分鐘佢地唔使還錢. g# S: U5 y5 ~* k

" r* U" w2 S" z# Y# x; 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,
2 c( f; \& Z+ Z* N連國家都係問人借, 不停發債券, 印鈔票
9 U) \( R7 N* m/ k* K7 O" [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ f. A2 C1 k) r% R# q: B  Q+ t2 R$ p
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
3 v8 j$ }9 N/ |! W( ^: r咁而家"爆哂煲"算唔算先至係變番"正常"???

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& b/ S# a/ @, F! A2 U8 [& D其實係...
# T4 I; D! ~* ]1 l. X% C: h6 A因為以前未生產, 先消費* V  |3 n! ]) A3 I& J
而家就要多生產, 少消費