0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- J2 B0 @  ]9 z' [4 C. wWhy bank will sell 借據給第三者???! a4 j$ _5 r2 j% f' j
I was so confused.....

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. j9 A0 T+ ^3 c7 n( v4 T, X講到尾都係賺錢
* i- t1 `' X* D; P! Gso銀行可以不斷放款* V* W: V5 E9 G2 @
美國的房貸問題散佈到全世界
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1 T3 v! Q; k2 M2 v' Tmortgage loan
/ H! Q3 ?0 |2 W. r  A" \>conduit! h( J4 ]8 {9 \
>RMBS(Residential Mortgage Backed Securities)2 `  H. n& _' l
>arranger
9 n7 a% z. d; D' l, w>CDO(Collateralized Debt Obligation)+ A' I5 i* d& u4 N
最後去到投資者

Kev

i thought it is the reason of rate of return.: i, F3 L' }% Y( x" u, C
CDs could have different ratings, AAA -> F,* A4 l8 e1 x% B$ @) X! c) y
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ n( q0 _* c2 `" [" @5 B6 ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, t) N. C' T8 g. a; D! H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ c( Q( y) c/ nAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 {, `; q4 G7 I8 Fsimilar to bonds, CDs trading in the secondary market have different value at different times,
; S4 ?% l5 N- ^1 j% ^. anormally the value is calculated by adding it's principle and interest. + h1 K- [, }! |; t
eg. the value of the mortgage+the interests to be recieved in the future.
+ F! v! U) g$ X$ `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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, r& F7 W4 l, `5 H- aim not quite sure if the multiplier effect does really matter in this case.
6 c0 Q( C* M4 u- Win stock market, it's the demand and supply pushing the price up/downwards.
$ f# G- E* @- M" [+ r/ @0 D6 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, ~$ t2 S4 W2 u8 N3 P' XA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; v) E$ n+ E. YThe 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 G4 [, L! n+ [) B! ^but the value of their assets did really drop significantly.! ^6 p) F- X4 o1 u1 G" [0 x% J
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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
/ N. U0 ^7 s- X3 I8 ~Refer to last example,
3 D4 N$ `, X& \, [! _: j9 Kthat means bank A have no money because we borrow 10 dollars from bank A # H. n1 [2 s" g7 B
Because bank A doesnt have enough cash on hand . X. U, S8 K& E( c: K$ ~+ v
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
& a5 B8 V, W& L0 P6 Q, R' iso does it mean if E failed to pay D, : B: c6 S( c6 V  @" b$ {# i8 q* N0 K
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,
3 ^; E2 r: K6 e. m% E9 H6 qin this case it doesnt really matter how much money is created, " s1 p% j) {) }+ V8 u8 J: o
it's the problem of the debt itself.! k! }  q) \3 ~2 T! Y
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
+ ~1 d1 l9 E4 \( q  i小弟一直都唔明...6 Z. z! }% t+ j4 A9 y
$ k9 [. Q% d& A: _+ X
全世界都蝕錢，咁邊個賺緊錢呢?1 v4 T! T$ F0 i. l  I

- W+ _# m, `& j1 \8 `/ D% q無可能淨係有人蝕錢無人賺架嘛...
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5 ~! G2 A! N+ X2 w0 S" Y敬請各師兄解答
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Thanks

1 w/ Y- U; ]6 v) s7 ?; K( ~那些根本係 紙上財富  
  `0 C0 U/ x6 d- K% D8 o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$ U& q9 G$ W) f3 ]3 k

0 T$ ]5 C/ J- D9 D) S9 fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ h5 O, V! m  g$ |$ A* @0 s
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. B8 {( c" V# O) [
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
1 j2 x, r$ M1 r7 o  x個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# G4 V2 j# t* O9 [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) z3 F/ t5 Y! {( U計番回報率就已經係50%,所以可以好好賺5 T/ O* K9 l& ?/ N
前提係銀行之間要互相信任先可以咁樣借法
* {+ W- C+ I/ Q) {+ m1 c9 {( t' g同埋個市場既前境要係好先得/ W4 U2 q$ g- V1 h) c5 k
但當經濟一差,公司估值趺了,物價不升反趺& C3 w& f' w, I  c) [. O
例如剛才說10蚊的, 趺到得番9蚊, ) M7 H/ r: L( ?+ }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# x' q4 V/ V6 Z所以你就會覺得D錢好似蒸發哂咁, B9 q  Q5 j# x# M

3 j; R' t8 I6 O4 d6 K% g5 f! y( x你都可以當標野咁諗, 個樣野多人可以狂升值,
- H. J  [- B6 f$ I$ G0 [1 ]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,
" }6 J8 C% V# W, ^8 _  `, J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 ^7 j' ^  L: Q5 n2 h& A1 S4 J# 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
; Z0 F7 F5 `% V+ p' t2 r- N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# i8 _3 |: l4 Q# N( G
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ D5 L" L* O  h! x+ |! j1 P淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' c/ J* r. B( \5 W
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7 S$ J, _% ^9 G! J0 D9 i
咁你話d錢蒸發左去邊? ...

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正係咁樣4 S3 S5 I# L( P, x7 Z6 w
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* a* I% o+ S4 Q. ^; j& T3 Y! ]
分分鐘佢地唔使還錢  i4 W3 P# q4 ]3 F+ c
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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,
1 w) v2 k( G! z/ C8 u連國家都係問人借, 不停發債券, 印鈔票
6 B9 X4 n* g* r: @2 P一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% f8 c) H6 a) R8 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.gif1 m5 q# x2 |3 z$ o4 O) f9 z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...6 ?/ G% e' E2 i5 H
因為以前未生產, 先消費. y8 ?; _* v' X; b) r6 P3 \
而家就要多生產, 少消費