0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 I; Z0 q6 {7 w+ g. D+ S9 gWhy bank will sell 借據給第三者???
2 E( p  Y5 w# d2 n; l& k' d! vI was so confused.....

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講到尾都係賺錢0 |* T  |. X( x4 @, k
so銀行可以不斷放款4 h. q6 \8 ~$ w6 w# _% \
美國的房貸問題散佈到全世界
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2 I/ h7 o$ Q, W0 @5 h9 e5 Bmortgage loan
' }# B1 O" x5 u2 x* O; V2 a1 s>conduit
, D( [( o2 S% O" m+ D% y>RMBS(Residential Mortgage Backed Securities)+ W* }9 u; V+ Y* q* Q
>arranger; I& Y& {" t# F: b9 R' {, d8 a
>CDO(Collateralized Debt Obligation), R6 o# M/ f1 W7 e$ M
最後去到投資者

Kev

i thought it is the reason of rate of return.
" d9 f$ B1 I/ zCDs could have different ratings, AAA -> F,) [. y$ ^. u% w
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 f$ [0 b5 W) X: r6 f* I  f' G
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 o4 _  t- M6 P& O# F4 L1 l; ]' M- Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ \' w: b6 v7 F
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 N% c9 z. y& z. h7 H; Psimilar to bonds, CDs trading in the secondary market have different value at different times,
2 s" t7 E0 ~' R' e2 ^normally the value is calculated by adding it's principle and interest.
/ L" R# ^7 J9 B$ _5 q  o. aeg. the value of the mortgage+the interests to be recieved in the future.
4 i5 H/ V- M" K7 @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.
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& Q" t0 o; ^- v+ xim not quite sure if the multiplier effect does really matter in this case.
- d* [( `8 F& j. a+ Z8 ^9 f# q; Min stock market, it's the demand and supply pushing the price up/downwards.7 S, @( x3 g0 T4 l' ?7 H4 U5 G
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," s  }6 u4 P6 j' Y" V
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." a0 G# Q# C% _+ }! N
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.
5 L1 o, l* x' f$ ^4 U' n) jbut 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 _/ u( x, e5 S) `. ?Refer to last example,6 z7 R. I6 P9 J
that means bank A have no money because we borrow 10 dollars from bank A
) u. F; `) W6 n1 C2 P+ |Because bank A doesnt have enough cash on hand 0 x9 }" i+ O. p4 a, |  ^
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  a7 X- Z. m! y0 n8 I) r4 BA->B->C->D->E' o0 S9 C- n/ _# x: X7 K
so does it mean if E failed to pay D, , M7 ]4 ~+ Z$ j7 r9 O
all the B,C,D,E have to go bankrupt?
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; b0 a2 W( ]  M3 e& ^$ o' e9 bthe multiplier just tell how much money created in a whole economy,
3 W) Z" S% |0 f9 U6 ~0 Xin this case it doesnt really matter how much money is created,
4 d; J+ a2 J/ l7 v6 eit's the problem of the debt itself.1 l8 j  e2 u: S+ |
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.gif2 i$ l+ ^9 [8 E
小弟一直都唔明...& Q# I3 o' `8 C3 X+ b7 s

0 O; {: |# N6 L1 t) w; k# z全世界都蝕錢，咁邊個賺緊錢呢?7 d4 k" Y6 P, f6 F0 t9 `

2 z6 C& C. g# N/ ~無可能淨係有人蝕錢無人賺架嘛...; Y( o" u! w# m8 D' I
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敬請各師兄解答
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Thanks

, {, H# a( I$ {7 e1 c: |那些根本係 紙上財富  
, T& v! P% I8 M8 c% n( 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 graphic8 Q+ F. ~4 f4 J1 v% x) O6 {3 k

* x( F( g* D) V( Q8 i, 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
4 O& }( @" B# \8 v當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 x+ x  h7 k! S/ u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 F2 Q" t. N5 S8 B" i$ z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ m4 [) ~8 i$ h& r/ [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ O& N2 K; O) H4 |0 g計番回報率就已經係50%,所以可以好好賺
) s, f7 Q3 {+ ]+ h前提係銀行之間要互相信任先可以咁樣借法
  q, ^1 [( F+ |同埋個市場既前境要係好先得
! z: x9 P  k/ Y, p但當經濟一差,公司估值趺了,物價不升反趺! ~% l3 A+ S( s% R- K! n
例如剛才說10蚊的, 趺到得番9蚊,
0 M$ U3 t' C  f/ i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ f9 t% [. i/ s& j所以你就會覺得D錢好似蒸發哂咁8 O! R9 {0 H6 M, F
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你都可以當標野咁諗, 個樣野多人可以狂升值, ' V0 J& ^& c( A. [! f! Y% 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, 1 M7 N) j- h* v' K! r# ~2 A4 K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" \( k$ c* c5 I! u  U$ @+ 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% g# E+ F3 M$ |1 u1 O) `4 P: A
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
, S, P9 t0 r8 a; O8 `* _唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 \  ?$ y) `' l7 h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' I, w9 T  v' x) G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. [% q9 E0 A4 V  t1 P# Z" S' P4 s
咁你話d錢蒸發左去邊? ...

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正係咁樣
3 C9 t/ `; i, G; V5 m) _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* u3 [& ?0 z4 _. X/ O
分分鐘佢地唔使還錢( P1 Q; c$ G/ b

- d; O' j& y, w) L9 d4 w( N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 Z( r" k$ t$ h' t連國家都係問人借, 不停發債券, 印鈔票3 N$ q( R( M8 S: {& y2 J- W
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 [4 O7 Y; Q7 `8 ^5 F, r  ~+ ~
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
, T! B: O; P  R( ~; t9 t咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...; ~8 G. i4 ?' D( l9 v4 H2 [
因為以前未生產, 先消費
' M3 b5 f3 [+ E0 H" L0 x, h而家就要多生產, 少消費