0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- S! C$ }1 h# r& B; K" c9 \Why bank will sell 借據給第三者???/ {  ?1 s1 N0 ^5 Y( V( @9 u; W& T
I was so confused.....

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講到尾都係賺錢/ _& o3 j1 s6 }. I
so銀行可以不斷放款
/ ]1 g& X3 i* U$ V美國的房貸問題散佈到全世界8 U# v. Q( C1 i

( |9 u# E& N" n& A' m) x1 V) vmortgage loan
! i  l1 x5 c! `( S* |9 c>conduit
( p5 f) c+ f! ]; }9 L>RMBS(Residential Mortgage Backed Securities)/ [: E* J. @, z8 L6 C
>arranger$ S, q2 I( W$ N9 Z
>CDO(Collateralized Debt Obligation)2 o& p! k+ G( v
最後去到投資者

Kev

i thought it is the reason of rate of return./ q$ U. A% X9 N1 }
CDs could have different ratings, AAA -> F,
7 B. i' P5 m" Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.2 M4 d1 b0 T( u' \: S/ Q) @
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# u- C# H( ]0 R2 d* W3 _" G7 H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 k0 y, q# i( A) }9 b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 q7 v1 s7 `6 g0 R3 `1 Isimilar to bonds, CDs trading in the secondary market have different value at different times,3 L: B3 o. K1 u$ ~! h/ o
normally the value is calculated by adding it's principle and interest. 9 s2 p% Y$ l/ C% K( P
eg. the value of the mortgage+the interests to be recieved in the future. - F$ _4 p) \+ k3 U* [
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./ y8 p$ _  P* d- T# S+ G' I

9 X9 q9 f- L) M& Q+ Lim not quite sure if the multiplier effect does really matter in this case.
# F; Z, V1 |# ~( v& k8 ?1 vin stock market, it's the demand and supply pushing the price up/downwards.% d. [) ~8 _" a- f( ^; a9 t- C
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: S9 c! j# V( P9 r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 }* G' f7 P  {" Y; I3 wThe 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.
/ P0 R6 o3 {* W1 G& rbut 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% t" m' ?/ H0 L- S' q8 \- r$ \
Refer to last example,
# ?( z4 ]( F# f- g, Mthat means bank A have no money because we borrow 10 dollars from bank A
8 t& @8 H- c5 n4 \4 GBecause bank A doesnt have enough cash on hand
% _, S1 `) F/ r6 C7 Qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
, `. d: G9 ~# o) _" Nso does it mean if E failed to pay D,
9 v5 r- D$ ]" `4 a6 H6 Yall the B,C,D,E have to go bankrupt?- v- l" X$ S$ d: f- q1 L

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the multiplier just tell how much money created in a whole economy, $ d! T7 B2 _# N! R+ \
in this case it doesnt really matter how much money is created, & y% ~9 W; k$ V+ \, S
it's the problem of the debt itself.
; L& b4 @2 H9 m  gthe 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 B7 Z/ z4 y5 j4 C* F小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?# W+ i) B5 m* F: G; \
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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" d: w7 K- v* J' b
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Thanks

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那些根本係 紙上財富  2 ~) l4 Y2 u, M7 U* k* Y6 @
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. i! ?9 `+ M5 T& _

6 A+ E0 d: D7 Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
, A8 k  g/ \7 x! q# s1 J* i當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. v+ l2 }8 g( j2 _: `% V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
0 `! H, K& Y/ h3 A, l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 v: e8 c8 z' p! |
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 J& J7 ^1 @! x
計番回報率就已經係50%,所以可以好好賺0 s1 R' P: Z& H9 ?# j5 x2 L$ z' i
前提係銀行之間要互相信任先可以咁樣借法* i# h9 b6 I0 A+ j1 t' H. W
同埋個市場既前境要係好先得# d  P/ t3 w4 _: K! l) i4 X
但當經濟一差,公司估值趺了,物價不升反趺
' s9 q. L: _& I& c例如剛才說10蚊的, 趺到得番9蚊, 1 `; `' R( |" }7 q2 O; s: [$ `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 e3 ]/ f, g* g6 A. I, s  j
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,
! o9 s- V& Z; Z: ]* O. D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, - `0 @) @) T/ ~; Q( y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- ?+ N9 @2 N* V  D. p1 k4 p( P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: ?/ D/ Z) u' a7 i
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
& L# H+ S1 f7 X& j) h7 l唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ D; x0 l1 m4 z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% l$ T! `- l5 X, p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( q0 i+ n% U) K. e. {" d+ }" H
咁你話d錢蒸發左去邊? ...

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正係咁樣
: f; d6 K8 E9 N( w' ]3 A( R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
% N  f6 V' r3 g) m. w) N/ |- m分分鐘佢地唔使還錢
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* Y' o, \# x; S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,( c' d! Q& @# y% ~$ o
連國家都係問人借, 不停發債券, 印鈔票3 G: {4 ~; a- C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 y0 X5 ~1 k$ @% {, \4 ]/ |
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, O" ~3 e1 j% n8 a0 z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 P) r' f1 {+ H# ?& B其實係...
( `1 T% {7 F0 j8 Z- v+ ]( g2 n2 K+ z因為以前未生產, 先消費
  B2 f& ?+ U& A* m$ ?+ L: t而家就要多生產, 少消費