0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 N7 V( U+ d! R; qWhy bank will sell 借據給第三者???& [0 k3 I! X# j. e
I was so confused.....

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講到尾都係賺錢
& C5 C7 B4 |1 K% ^so銀行可以不斷放款, j  h; r( q) y9 N
美國的房貸問題散佈到全世界
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mortgage loan 6 ?& a& t- n( W+ q9 Q- T
>conduit
& V/ U4 P% A& H; ^% C>RMBS(Residential Mortgage Backed Securities)2 f# J3 [2 S, [% l" [
>arranger2 E( h% E; `$ A/ F$ J; C. @
>CDO(Collateralized Debt Obligation)
) j2 }& S9 \. _9 \. K, O& P最後去到投資者

Kev

i thought it is the reason of rate of return.4 m& [& @6 L* m, h. d
CDs could have different ratings, AAA -> F,! a& M6 H! S4 r
more risky ones would have higher premium (interest rate) as a compensation for an investment.
7 b, G- G0 g1 B( p# X4 g! Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 `$ c9 q( \6 y+ G2 R& J/ I' d; zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( K" ?. ~/ [1 uAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" J; y# R  I' fsimilar to bonds, CDs trading in the secondary market have different value at different times,
% n3 |9 v2 g( j% S! d" \normally the value is calculated by adding it's principle and interest.
8 s' L7 A5 v9 c6 Feg. the value of the mortgage+the interests to be recieved in the future.
6 g5 K5 @! l/ 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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- X1 V9 D4 ]; K6 d3 O/ Fim not quite sure if the multiplier effect does really matter in this case.
$ B9 A5 J! d- Q1 X2 Ain stock market, it's the demand and supply pushing the price up/downwards.
8 [9 K' V' |  tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( [+ P6 F( @6 ^: A  S; FA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 M3 n3 ]' J1 y6 Z% i- t
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. 2 z7 N- y8 b, O  u# A/ e
but the value of their assets did really drop significantly.9 q! t* m; c1 `2 B3 S; t

! I8 b$ P! A. `[ 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; W$ k/ }+ t+ n3 ?' g* a
Refer to last example,
( q2 v6 m' P( G6 `4 u' wthat means bank A have no money because we borrow 10 dollars from bank A 8 H/ x! B/ b+ J4 }
Because bank A doesnt have enough cash on hand / \& y6 A) r0 o4 \4 d
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ q& v# }8 f1 `3 }A->B->C->D->E
" Q% _2 Y9 d6 N! d+ k' l4 tso does it mean if E failed to pay D, ; G! z; }" b' x( ~" e; 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, * d3 S2 M" _4 ~/ @3 |! P& s
in this case it doesnt really matter how much money is created,
* j6 D0 E  |. I2 n7 ]0 Jit's the problem of the debt itself.
* ^8 ]5 M  M2 ^# othe 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
  Z) {; X3 U7 I% d; |& M- [小弟一直都唔明...$ u4 j* }% j3 B3 {

, h8 e# q& ]8 ?% W2 h, M7 L全世界都蝕錢，咁邊個賺緊錢呢?% q$ ]# |& Y: G( l
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無可能淨係有人蝕錢無人賺架嘛...+ v% s3 Z1 j3 g" R
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敬請各師兄解答* y: S: a$ Q, o3 ?7 {: F4 _. X
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Thanks

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那些根本係 紙上財富  $ L% s& P; U/ q7 f- @: k
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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) B! r* \2 y, L3 s4 u+ Nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產# Z* z5 `/ f: A0 {; |& H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) e1 W1 t" c- N4 r# w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  S7 Q4 c% w( V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% |* T+ ^$ A4 {) b8 K: c/ ?扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! j7 |. n# t, n  y; u% n
計番回報率就已經係50%,所以可以好好賺
# D# r8 b+ T9 C! ~( I+ V前提係銀行之間要互相信任先可以咁樣借法7 C, X, q2 P$ P) j! d
同埋個市場既前境要係好先得
* V$ I+ o) U6 M$ f但當經濟一差,公司估值趺了,物價不升反趺
. |- {- R/ i% g! w5 s/ |例如剛才說10蚊的, 趺到得番9蚊,
$ b2 `9 X, v& ?2 @2 n+ w* x' u  t' k+ K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: P- W  C/ D$ Z7 f) R所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
; x% b3 Y/ o! _" z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, . L( N0 l; v: X8 Z# _* I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% Z: M$ \4 h# }3 Y& S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
; T) m+ a: d0 {* l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
2 f+ D- W$ I/ C唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; k+ W, }, Y: E! ^8 i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ a+ B, Q; E# D0 _6 Z4 m5 Z) Q6 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, A, v( l* {0 h% S4 |
咁你話d錢蒸發左去邊? ...

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! V6 n5 r. \/ H- U, O: m, Q正係咁樣
- D) [% @0 f" u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" E- Y5 v, W2 _( O' _
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,+ I' B: P+ y$ X2 G5 @
連國家都係問人借, 不停發債券, 印鈔票
# l7 w8 i3 T' M4 S4 k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ G' j1 ?; Q, t' H- ]! m, 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( S$ @8 S2 Q% O* X: g
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
* x# m1 H4 L; B9 a( p6 |% P因為以前未生產, 先消費
( _% h" z# A/ {1 X+ w3 S5 ~而家就要多生產, 少消費