0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" I) Q5 `3 ^0 S& y
Why bank will sell 借據給第三者???) x2 @' Q$ p+ ~/ P3 v
I was so confused.....

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4 _. c9 j0 U) `6 q7 v講到尾都係賺錢
" I% _* I, i6 Z* Yso銀行可以不斷放款
+ e6 H" h& Y; u! b/ F美國的房貸問題散佈到全世界2 Y5 r, w1 T4 a) J  R0 t
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mortgage loan " e: c! s+ r! }0 l: v7 U1 F
>conduit& d# W8 r! x* \0 A4 `, h
>RMBS(Residential Mortgage Backed Securities)
' u- B4 _' c, w>arranger
1 Y* N7 y* J/ n7 c>CDO(Collateralized Debt Obligation)
4 w5 K1 @$ c2 d* `4 e2 Z  _( O最後去到投資者

Kev

i thought it is the reason of rate of return.( Z& ^) N0 q& s& C# Z' s6 W6 N
CDs could have different ratings, AAA -> F,% v4 Y& ]( I7 K9 @' }9 T# ~+ D& d5 U
more risky ones would have higher premium (interest rate) as a compensation for an investment.( v4 H  \: W" p% [! x- m
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 b3 P4 N. ~9 R3 t
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 j5 v# u+ w  M$ ]Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* G" x1 x' ]2 U1 r3 x& ]1 g
similar to bonds, CDs trading in the secondary market have different value at different times,$ R% g6 t# X) x5 [7 T
normally the value is calculated by adding it's principle and interest. % u) L7 M1 r7 `9 z& |2 r
eg. the value of the mortgage+the interests to be recieved in the future. - O$ v* L( ^% m. ?, P
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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im not quite sure if the multiplier effect does really matter in this case.
6 U3 S5 y' T3 H3 _; g8 L' L8 ~in stock market, it's the demand and supply pushing the price up/downwards.
, h9 ^) J: ^/ P' d; o$ QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. e+ A( H0 Y/ y% B6 s' c' w$ ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 |0 v( n+ U* n2 B. P
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. 9 w1 V% o3 @  u* ^
but the value of their assets did really drop significantly.' D' U+ S/ b4 w1 t
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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
( r2 q% V3 K; V$ s. ERefer to last example,
9 S6 r, w: [) D5 G: S8 Q: x' othat means bank A have no money because we borrow 10 dollars from bank A , C/ |2 m  p- i/ C; o+ t
Because bank A doesnt have enough cash on hand
% K+ ^- h" Y" r% a! htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 i' u& ]! ^$ C' w7 lA->B->C->D->E
$ k3 [: N/ Y3 M' E$ |so does it mean if E failed to pay D, * C% N+ V! X$ `. n# V
all the B,C,D,E have to go bankrupt?8 E& J5 Z8 h; G! u. v
2 l" v9 }" D4 b* B. {

7 K$ H) b( F& ^. Z! Y: Zthe multiplier just tell how much money created in a whole economy,
1 {+ Y0 ]! T/ g+ Q, h9 e, O& o2 qin this case it doesnt really matter how much money is created, 7 `% _" p2 H3 k) I0 Y
it's the problem of the debt itself.1 Z% \, _  D9 Y# x) N) l
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
( B* a7 J; l0 F8 ~4 E小弟一直都唔明...# e9 Z2 ~* e1 J% Q  {1 W; \5 M

- S$ B$ V8 W, C( w2 L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...
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敬請各師兄解答& u' Y( \+ }! X0 B0 y! l
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Thanks

4 }$ @0 O5 O9 Z9 _那些根本係 紙上財富  . U0 A8 F8 }9 f6 `+ |9 t
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
$ [; W& m4 Y8 V/ q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& }' q1 A% s5 F
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
2 \4 x; U3 ~* Z7 @' d/ ?% E8 l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* G* `$ @6 v3 M( ^$ @
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# t* s; }3 {) ?; X: x: F" b2 B
計番回報率就已經係50%,所以可以好好賺4 O& I$ y3 J% n( H3 V1 t
前提係銀行之間要互相信任先可以咁樣借法
; E# v6 z# i" E/ c同埋個市場既前境要係好先得
! K7 u! w2 l# T) r但當經濟一差,公司估值趺了,物價不升反趺
9 v/ @1 H3 ~$ [/ K' N. a! |4 M例如剛才說10蚊的, 趺到得番9蚊, $ T7 q7 C) f; b" \4 C2 u, Z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) z' z% g, [3 x所以你就會覺得D錢好似蒸發哂咁: n! n4 M( F- {" \) g/ z0 g9 ?0 G

& t) ~, A! j( ^; W5 H- A- _& [你都可以當標野咁諗, 個樣野多人可以狂升值, . v- {# b: U+ D8 Q7 X
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 ~( m, r5 ~) _% N7 ^9 j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* N) F! F% m2 ?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
- s  h% c/ P& j& B1 g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
$ ^; K! H, O% _) X& `+ s' T+ K8 j唔係d錢蒸發, 而係比美國佬洗晒未來錢, : I: l" N% G! ?! O0 j) w7 o" f' R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* N7 u7 D: I- |& {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5 [: V% n5 [; I8 H8 B5 X4 y
咁你話d錢蒸發左去邊? ...

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1 {/ o; o7 d" y9 d% T" s' \1 N正係咁樣2 Q' B3 [/ {% c# N6 Q
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
1 ]2 P9 P2 t& Y9 T  h* h! ^分分鐘佢地唔使還錢" N. ^, q( L! q3 d" ~+ j5 H/ }, k
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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,7 _. Y; r! W* Z5 l" b. L
連國家都係問人借, 不停發債券, 印鈔票& I( B# m! D$ n: w; ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 m4 e# E; Y$ H( J: I/ a: x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
6 ^) z2 e" D3 T7 I- C( z咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
/ {) `/ M. r8 |/ R- ^因為以前未生產, 先消費
# r" K8 W3 M2 G( R而家就要多生產, 少消費