0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, `) Q! g! k. u  x/ \Why bank will sell 借據給第三者???4 h7 ?: M4 B' O4 i* x) K
I was so confused.....

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$ \" t3 I0 `6 L: C. X講到尾都係賺錢, ~3 q8 f! a* S% e2 K
so銀行可以不斷放款! M! u7 W2 B% Q' J
美國的房貸問題散佈到全世界5 T0 Q$ D, s4 j/ H' K# T
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mortgage loan
( {6 w( i2 g& H- s# H>conduit6 _) j; {. H, u# d
>RMBS(Residential Mortgage Backed Securities)/ n* W% \' q2 d( D- Q2 A$ a
>arranger
3 b# W/ M: t2 s2 d4 ^>CDO(Collateralized Debt Obligation)
6 d* j: X5 i5 `- l最後去到投資者

Kev

i thought it is the reason of rate of return.3 y; G- w) U: v) `6 w/ g; v. D
CDs could have different ratings, AAA -> F,) i, x8 a) Y( H4 B3 U4 _# T
more risky ones would have higher premium (interest rate) as a compensation for an investment.
2 `% n$ J. F) A! Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ r& u/ Q/ F) V  U/ ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  g+ c6 F/ M7 ?
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 y3 n+ w2 D5 g. x/ c) Bsimilar to bonds, CDs trading in the secondary market have different value at different times,
* m3 p7 x( {6 O# e) Unormally the value is calculated by adding it's principle and interest.
1 B9 c* c7 w# Y7 E0 q; F$ e: Ueg. the value of the mortgage+the interests to be recieved in the future.
2 d( j* Q; {# t* C) L/ i: Gbanks 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.* r* `( u8 A; l1 ]/ s
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im not quite sure if the multiplier effect does really matter in this case.
  s3 r* ]4 R; Q  A. j% tin stock market, it's the demand and supply pushing the price up/downwards.& x6 Q8 e* I0 t) M: E
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% T; z9 r# @$ kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 N. h6 A5 r1 R. {# B5 H2 [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. ! f! A4 E+ V, o# p/ x
but the value of their assets did really drop significantly.7 s) y" S; a9 {) V' c0 e- A) P
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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
. f: q% k7 V- G( M9 G7 x; s! ZRefer to last example,
4 y. ?- ~& f: p) X5 Gthat means bank A have no money because we borrow 10 dollars from bank A ( r" d( `' Y9 l; |# E6 F( \3 w
Because bank A doesnt have enough cash on hand
. T( ^; `" Q% s) y; _therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E  k" {. b2 Z/ g/ |, J
so does it mean if E failed to pay D, ! k) O- P6 C- z- ]
all the B,C,D,E have to go bankrupt?3 g/ C1 i# b/ |" J7 w# e; P# ?
3 ?2 P. D. w1 W4 i0 L) z$ n

1 B- U3 c1 l# N9 E9 J* L* Uthe multiplier just tell how much money created in a whole economy, 4 g) o7 S" [, a5 p5 N* ]4 \
in this case it doesnt really matter how much money is created, " Z6 E* X! U+ \1 ~
it's the problem of the debt itself.
/ z$ W# P+ n7 ?' D  |: \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
3 W9 A! G9 t5 i; J& b& M小弟一直都唔明...
& T' a/ t0 B$ o/ n# [3 ~( V) ^# x3 J5 m3 e! I! L: e/ C' o
全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...$ r. Q9 c) u3 s
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敬請各師兄解答
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# N. L5 O7 e6 N  `" R9 q- yThanks

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那些根本係 紙上財富  
; y8 J  t5 i0 f7 _7 Z1 b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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! O) X; j9 K0 ]' `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  a1 K1 F0 ~* s7 {. m9 l# n
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 g) q1 V  s+ \: `# T- l6 g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
" U' g* p% ?, }7 N  Z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( K& a' m$ R  t% f  k9 P: g5 x
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  _: ?; w) j* }" s計番回報率就已經係50%,所以可以好好賺
- C7 z) u- s4 R# ^; I, R: T前提係銀行之間要互相信任先可以咁樣借法
' D* _. M9 o9 p/ ^* G! l7 {" Q同埋個市場既前境要係好先得
5 J3 v; o; f. B. v1 z! m但當經濟一差,公司估值趺了,物價不升反趺9 h2 E! d- n/ h
例如剛才說10蚊的, 趺到得番9蚊, & r6 I* F0 K& k" t# Z' P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. h' d' g$ |" E- G
所以你就會覺得D錢好似蒸發哂咁4 q$ u- R$ K$ p3 P( Y3 p0 W

+ N0 V; p* [) X/ N1 d* J1 r8 k你都可以當標野咁諗, 個樣野多人可以狂升值,
4 f: `9 S0 Z' u$ C& j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, 3 s, S- {: z( C& f/ {+ t) b( g1 h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 Q* f" j: F: 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1 c$ ?8 \* w6 a; j/ v# R
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* O; l  I" q! ?9 J5 q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 z$ j! I1 W/ {: C* G1 s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 H- g1 s$ W7 I, J3 T2 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# \. {# W7 Q( ?0 D
咁你話d錢蒸發左去邊? ...

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) z1 M8 `$ l& s正係咁樣
7 x/ ]% l1 w/ l( s; D! l0 s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# C0 n" Q, T% [2 S- m- u  e
分分鐘佢地唔使還錢& C) h. n  c5 f8 A  e- I
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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,% k" u' q+ i6 @
連國家都係問人借, 不停發債券, 印鈔票, k1 a; @" d1 G0 e/ ?, f
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% e0 w! D& y% ~
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
: d& R0 s; I. e  A+ D9 K' {咁而家"爆哂煲"算唔算先至係變番"正常"???

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" B3 o3 U' O4 b其實係...
4 B- w- |$ @2 e4 Q5 I3 B# r因為以前未生產, 先消費5 \7 P2 @, N: w' C/ c
而家就要多生產, 少消費