0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ j! I2 h$ `' M1 y, u) oWhy bank will sell 借據給第三者???
  |: U6 g- o# ^, sI was so confused.....

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講到尾都係賺錢
6 f5 e- N! \) Y; s; P- Aso銀行可以不斷放款
2 U1 ?! t7 |4 a7 ?: f; @美國的房貸問題散佈到全世界
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mortgage loan 3 s5 [, P! `' ]0 P9 |
>conduit9 r/ n5 O& F4 ]% X/ o
>RMBS(Residential Mortgage Backed Securities)
. Z3 W8 ?+ J4 _& N# @>arranger
& X# A8 x3 A. k' n- d5 r. [>CDO(Collateralized Debt Obligation)# L4 p  d( U2 w1 c# Y) H
最後去到投資者

Kev

i thought it is the reason of rate of return.
+ B. P4 p) W* }7 j- iCDs could have different ratings, AAA -> F,; i: e0 L' X* Z0 t1 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- Q! B2 k6 T0 T5 tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ k+ s: k' j9 v4 e5 ?* tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" ?, _0 d9 J% M- X* IAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 \5 r' o7 \2 r* {similar to bonds, CDs trading in the secondary market have different value at different times,
% N* S3 J  Z9 G$ _normally the value is calculated by adding it's principle and interest.
2 w0 j* k$ U# @5 S- b4 Neg. the value of the mortgage+the interests to be recieved in the future.
  Z# F9 F8 F9 B$ Ibanks 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.
5 k. P9 k# T9 k% r. i/ O) iin stock market, it's the demand and supply pushing the price up/downwards.5 b: p2 o( @% I5 T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! v* S- d. F6 @8 V4 T3 ^" r" MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. m1 S1 a2 w3 L8 }: Y+ 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. " Y6 `& G1 [0 |+ D
but the value of their assets did really drop significantly.4 z# V, B2 z3 d1 b6 K& d/ \
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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- u7 ~5 h8 v9 i1 y, X
Refer to last example,
" Z; Y. V0 ]: bthat means bank A have no money because we borrow 10 dollars from bank A 8 j! R) P9 g( u" c2 \
Because bank A doesnt have enough cash on hand 6 L" J  P# e9 ~1 g7 ]
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; J/ I, `: e# _' f( }so does it mean if E failed to pay D, / h" I5 P* q3 c
all the B,C,D,E have to go bankrupt?( U$ X# ?" s. K( s& [) {( d9 _+ V' j
) l( S( M( v+ W. J! s  C, w, s/ l

1 R; Z- h" K4 I# w6 Hthe multiplier just tell how much money created in a whole economy,
; o! b1 _8 U; u9 P. vin this case it doesnt really matter how much money is created, $ l' `8 r0 h$ F% N- b( c5 z
it's the problem of the debt itself.
. W3 W, M2 Q0 l. K4 E. i. ~  p1 M# Bthe 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% k" z$ Z4 c6 c1 W1 D) h) L6 n小弟一直都唔明...6 ^& C+ @! y" o

+ L, x3 a4 |  ^: n+ P全世界都蝕錢，咁邊個賺緊錢呢?
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. |7 ]$ `3 p8 t( v. c無可能淨係有人蝕錢無人賺架嘛...
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- }- X7 b* L9 n0 K( p& h9 q敬請各師兄解答! t( b: n# R% _' V4 c, D. Q4 K
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Thanks

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那些根本係 紙上財富  9 c" R: A& @% x/ u" B# C
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  O5 ^4 w# O; t' Q8 o1 f

3 B4 V& @4 E: h( Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  R) g7 h3 k6 l* O: }6 T# b  B  t
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: N4 L0 _8 T5 c% [# j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+ _6 L# L, \+ ?
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 n5 p; Q' n, w. l: g: p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% N% W# x1 T" G) s" _9 j計番回報率就已經係50%,所以可以好好賺% A" V  @7 N5 n8 w9 d
前提係銀行之間要互相信任先可以咁樣借法
8 m% U  P8 z, z, m- V同埋個市場既前境要係好先得6 Q$ I6 m8 @" K  ?; u* G) J
但當經濟一差,公司估值趺了,物價不升反趺
/ o- Y: n6 ]' z1 K7 k; d$ [# p( }例如剛才說10蚊的, 趺到得番9蚊,
4 b) v% I: E, h- i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' s8 i; Z6 z6 D) O
所以你就會覺得D錢好似蒸發哂咁7 Q8 A! o; I8 C6 i* m; E
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你都可以當標野咁諗, 個樣野多人可以狂升值, ! P4 f% W7 D2 F% 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, : H- F/ C6 P# b  j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * d3 @# e0 H3 X9 ^8 ?) \1 c. g; 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3 n; X& n5 C9 Q. W/ }
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.gif6 U) G5 T' N9 Q* ^" d
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& U2 P3 z1 [# |' _0 ^+ L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ X$ k# y4 @: j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
/ L* ?# N) P" t7 T# B9 e咁你話d錢蒸發左去邊? ...

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# P  ?, W  n3 D( ]7 Y" @4 E8 g8 o正係咁樣1 V0 J1 d& u) @: w5 J6 w: 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
- E7 T& I- ]# m/ H% b% W! [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,' g) E1 p8 D: O# i- ~. p  g3 x
連國家都係問人借, 不停發債券, 印鈔票
$ ^) k9 f( b$ J; H" R9 y, E3 F6 K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 f. M7 u) W* S6 g# \  z
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.gif2 H+ p- z* h4 A! S
咁而家"爆哂煲"算唔算先至係變番"正常"???

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) M6 @: e+ s) u& ~其實係...
8 [! w! I) |' L/ Q6 F- ?7 j2 l5 `* p因為以前未生產, 先消費
% V0 l8 M) J5 l; C, h0 F, u* a而家就要多生產, 少消費