0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ ?1 d8 o4 ]. h2 m
Why bank will sell 借據給第三者???( y% L; i4 Y/ R2 d
I was so confused.....

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講到尾都係賺錢/ s0 C( V  n# Q) H
so銀行可以不斷放款* o* Q! F% n, V/ ]% K, {
美國的房貸問題散佈到全世界
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mortgage loan ; ?6 C1 w9 V1 |: `1 p( X4 e& n
>conduit2 Z% D2 j! u. p* V3 N5 Q
>RMBS(Residential Mortgage Backed Securities)+ I( Q3 Z( \8 F2 C$ M
>arranger+ e: V) t; Q, r. T
>CDO(Collateralized Debt Obligation)
2 z6 M) o- V. F* a最後去到投資者

Kev

i thought it is the reason of rate of return.
  f4 y3 u0 C! P  ACDs could have different ratings, AAA -> F,
  w% J: r* Y" w" L: v# g& z7 Ymore risky ones would have higher premium (interest rate) as a compensation for an investment.
" u5 p9 M! i. K' i- dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 E/ D* J" _7 l' t) D1 n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 w* ^6 m% M+ W3 M2 I" G  ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." s0 \6 n1 l( X7 u3 f
similar to bonds, CDs trading in the secondary market have different value at different times,
7 C4 B- G: x. \normally the value is calculated by adding it's principle and interest.
' x% L) h. @0 i# }eg. the value of the mortgage+the interests to be recieved in the future. ( G3 S( I- a8 Y+ _1 K/ P2 }
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.! B( ]% d4 i0 k7 J

7 c' Y) H- @1 m5 ]8 E3 ]6 ]im not quite sure if the multiplier effect does really matter in this case.
" r* N! K8 J; q2 fin stock market, it's the demand and supply pushing the price up/downwards.
- K5 @8 s( a2 `: PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 k8 `; ~; I' s2 h
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 `4 ?* @9 d3 \) \: ~8 o
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.
: a! J7 D! T2 u% x7 ~  I4 S* Cbut the value of their assets did really drop significantly.7 P6 }6 a* @1 X, K2 h- n1 t7 b5 G

8 x$ ^! Q5 A* F8 M  u8 e# z; }[ 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.gif3 l3 _" m2 z: V  P% j7 h/ o
Refer to last example,
- x" C+ Z( R! u, f3 }9 F& _that means bank A have no money because we borrow 10 dollars from bank A
/ d# O% p/ d+ `Because bank A doesnt have enough cash on hand $ a. l; [; V& L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, E- h! h: S3 A6 ^# c
so does it mean if E failed to pay D,
4 s) Z. P  }! }$ |5 d  ?all the B,C,D,E have to go bankrupt?
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! O% w; e3 y+ _. L/ w/ p0 n8 vthe multiplier just tell how much money created in a whole economy,
+ ]9 Y% W, c8 Gin this case it doesnt really matter how much money is created,
/ I' E' T4 C$ Wit's the problem of the debt itself.
8 G% Y) e4 R( v8 D' Fthe 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
. o5 n. s( H- X1 `& e小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?$ g  u) g, A: g% F. ?# D( v

- H4 `; w) {$ [) j/ y: a2 N無可能淨係有人蝕錢無人賺架嘛...% h/ z( @* J+ I+ h: e
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敬請各師兄解答$ f+ c8 d& i4 a8 @* I

9 e' Z, J* @8 O! x# sThanks

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那些根本係 紙上財富  2 F7 Q" }( A7 L' @
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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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/ b3 y7 H4 r" L( m0 [- V# L
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 U" i7 M5 [3 K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
* p- M4 N- s/ b個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; s) S- c( E+ B& m3 c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) Q- i' u  @/ d計番回報率就已經係50%,所以可以好好賺
7 {/ `- T& X9 l, k. h/ s- F前提係銀行之間要互相信任先可以咁樣借法6 v. [/ M& ]% E" O0 N' U
同埋個市場既前境要係好先得; ?$ e; F$ c3 `- Y) T" S3 t
但當經濟一差,公司估值趺了,物價不升反趺
5 ^5 b/ }* `2 K+ ?  v9 O. @例如剛才說10蚊的, 趺到得番9蚊,
$ O- e4 a( J2 r7 w7 {: ?$ _2 Q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& z4 G0 N( b8 v
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, ; t: x7 v; }7 Y. m4 ~! }) a
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,
" y) t- I) f. O' I3 J5 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 L: \; \1 B( J: `& \- ^4 {
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
/ h+ u) B$ r( [% y9 s/ 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
# E2 @4 s1 b; x- c* ~唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( I3 u$ e* a, @4 X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. L  ^8 c1 B. ~: X3 C6 o* m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& w% j' D* P( M1 G0 g  f
咁你話d錢蒸發左去邊? ...

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正係咁樣* m' c4 Y" U% B, T1 d% f% A
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8 A  t: |. J# E) }1 t8 E
分分鐘佢地唔使還錢0 k& m# m' X6 f5 ?6 y1 e; J

5 o. l' Q/ ~6 h' `9 F2 L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,1 H& p6 q' H+ P
連國家都係問人借, 不停發債券, 印鈔票% X: u" i( A  m  u" F5 `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% q! Y. H# Y2 U6 C8 m# s
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
$ k. y0 Z  e% I咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
+ _) K/ d, F7 J3 ?8 H) u因為以前未生產, 先消費
. R6 h' F9 G; Z: T, }" u而家就要多生產, 少消費