0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. Q8 N  }3 j. E, G7 X
Why bank will sell 借據給第三者???
7 F* V5 K+ f7 h' E3 L4 v' Z8 xI was so confused.....

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講到尾都係賺錢% l  N% }" e8 L2 x6 f5 z; m, _
so銀行可以不斷放款7 p3 J  f9 S6 z# u1 C6 A
美國的房貸問題散佈到全世界
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mortgage loan
, _3 Q. j8 c* d) O>conduit" \0 ?% c2 e, X+ \
>RMBS(Residential Mortgage Backed Securities)1 J; ^- _  T6 ]9 k
>arranger- {' p4 E  A; P3 y0 q9 I8 S4 Y3 }
>CDO(Collateralized Debt Obligation)! b! s& Z% G# o8 n# j9 G) @4 h+ t
最後去到投資者

Kev

i thought it is the reason of rate of return.: N/ G5 P  d4 q6 ~
CDs could have different ratings, AAA -> F,2 R. x7 i" G8 [$ l" ?; }8 C
more risky ones would have higher premium (interest rate) as a compensation for an investment.4 {% s  A& b2 r/ J* x  U0 ?9 p
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; F9 ^  l6 d$ L4 F( `/ {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( L* k. Q0 f) |3 e
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% u* A. U: g" Rsimilar to bonds, CDs trading in the secondary market have different value at different times,
0 x2 `; v' E; q' A5 b0 [normally the value is calculated by adding it's principle and interest.
5 T1 ?0 b1 T* b$ c4 seg. the value of the mortgage+the interests to be recieved in the future.
& G* [1 {7 M* L: `: @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.+ u0 \1 {4 ]7 b. S" }) \

" H6 {+ \) D" I8 _0 Mim not quite sure if the multiplier effect does really matter in this case.
5 d( L+ R, M' v. Y/ ]& s& yin stock market, it's the demand and supply pushing the price up/downwards.
5 R1 k7 v6 X! R/ {* u( VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& s2 q3 M8 o' s$ Q3 [* yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ \0 N7 Z/ X  O# SThe 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.
0 W* I0 D  O! Pbut 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
/ ~2 t/ R8 U! ~7 F3 aRefer to last example,8 u/ _9 Z; g* y7 ~6 p8 Q7 P
that means bank A have no money because we borrow 10 dollars from bank A , U% _! ?/ n) ?& i
Because bank A doesnt have enough cash on hand 8 p' }: I* E, }; z+ t4 H
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 t# N& n! `( @4 DA->B->C->D->E
$ g4 e# Z0 K9 k2 n7 p5 hso does it mean if E failed to pay D, 2 @% w1 Z; }3 s' d- O
all the B,C,D,E have to go bankrupt?
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9 C1 K' t$ S" @5 p7 c9 Q1 Qthe multiplier just tell how much money created in a whole economy, 4 s% c2 g: _6 J( W. _) ?
in this case it doesnt really matter how much money is created,
# c/ ]% Q, @" c( ^it's the problem of the debt itself.' I) k0 B. C( Y! ~. u
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* _. L& q* o- b4 |" \1 D; ?
小弟一直都唔明...
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  e; @$ {# {& k$ Y全世界都蝕錢，咁邊個賺緊錢呢?
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6 B; F# y/ N7 \  K% T無可能淨係有人蝕錢無人賺架嘛...; i3 j% J, {3 t. I6 B; O! H* {/ l) e

( }5 o0 i# U: l1 N( ]  t敬請各師兄解答
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Thanks

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那些根本係 紙上財富  ( X) C9 W8 u  C; y. q+ U- C/ 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/ Q( z9 R# ~# ~+ I- Y
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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
7 n9 L0 Q3 s" y7 G* e! l5 \當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# M1 C2 s- B+ j, z2 X  l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4 s1 {) C3 F/ A3 w4 z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ T; W0 }* B2 O; U! L" R& ?
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- w' n- h4 A' a7 e$ H
計番回報率就已經係50%,所以可以好好賺
9 @3 _& A9 Y9 p2 \1 f, j前提係銀行之間要互相信任先可以咁樣借法
3 h: z$ ^- k* ^& h$ O( x同埋個市場既前境要係好先得
- ]$ D4 ~: ~/ k" h8 q5 ]* N但當經濟一差,公司估值趺了,物價不升反趺  h0 q5 e8 Z# ?& H7 b7 @
例如剛才說10蚊的, 趺到得番9蚊, + Y; f  ^4 q$ Z& `/ u
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. [- {) s7 ~1 F$ d
所以你就會覺得D錢好似蒸發哂咁) q! ?4 u6 q, J+ r) [
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你都可以當標野咁諗, 個樣野多人可以狂升值,
2 E, E+ v0 l1 P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 o& I+ y7 H# Y" @: q. p  ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 p  c( h, z) ~; R* X9 l
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
4 Y: s  Q+ m& @! ~3 Q% n3 \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
# ^. K1 M2 }' E3 ?2 l' o( c唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! d' T0 R. O% W3 F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 h! w5 ?; I. I1 Q  N0 \# n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 X& L2 c  W" C; B3 O咁你話d錢蒸發左去邊? ...

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2 Q7 J0 W, b' b! K7 Z, b正係咁樣5 m& i! I. C) V
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( a- }7 l* z3 b+ s0 q4 H# c
分分鐘佢地唔使還錢6 C  x3 R' H1 A' I& x

( B# ?. B3 L5 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,
+ a4 K; }. p- ?& L/ P) T連國家都係問人借, 不停發債券, 印鈔票
* r9 w% t' k' N" s3 Z一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. `1 G" _3 w$ }/ W1 G1 H' I
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.gif6 F% L3 _$ j/ ~" A( O% {- @
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
$ `' b7 Z& u7 w" ?因為以前未生產, 先消費
! J/ e  M  X5 \而家就要多生產, 少消費