0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" s8 y" H! I( @+ M. l) ZWhy bank will sell 借據給第三者???8 j# |( |0 S  _9 {! e8 |8 d; d
I was so confused.....

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0 `% n; ]- j; d! m& k+ z# D! \) X講到尾都係賺錢9 o) B" p4 u! E# [
so銀行可以不斷放款
4 }7 f5 a7 z; a, Y, R5 A' L美國的房貸問題散佈到全世界
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mortgage loan 2 W- C: ?8 l- Z/ ~9 X0 `& ^
>conduit* {6 [; R0 G) G4 u5 Y; k- \% S
>RMBS(Residential Mortgage Backed Securities)6 l% f( D  `* e0 O
>arranger
( d; o& C# ], z, |+ J0 ?>CDO(Collateralized Debt Obligation)
3 Z) U9 W7 j& ?  ^7 F7 {: i最後去到投資者

Kev

i thought it is the reason of rate of return.6 _- X- X6 Y/ W" M6 `  r9 A9 r
CDs could have different ratings, AAA -> F,
0 z7 g% t0 E9 ^; tmore risky ones would have higher premium (interest rate) as a compensation for an investment.& [5 N- T9 g# ^' l* i" `' i! i7 M/ U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# W1 p' @  d7 q: gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: H: |" v5 H6 ]4 j( g0 m. t: ~* {
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) E+ _5 |6 `8 T* b2 S2 h
similar to bonds, CDs trading in the secondary market have different value at different times," X+ A* F0 e) w8 j& \
normally the value is calculated by adding it's principle and interest.
$ P! a" q& G9 {' Meg. the value of the mortgage+the interests to be recieved in the future. : ^0 r; f- w4 K" p, 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.) `" E/ \& [. l

8 j# ^3 L- P( ^; m- H! Wim not quite sure if the multiplier effect does really matter in this case.0 m" P/ |) X# r/ z2 M# W$ s
in stock market, it's the demand and supply pushing the price up/downwards.+ y; [* b. J6 f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! o2 T  E! k, I
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' A. M6 v2 I8 ]. 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.
+ \; Y5 y8 n" f) ?7 Fbut the value of their assets did really drop significantly.3 j. P" Y( ?( h2 _
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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& J3 k+ `- c: o, ^9 t9 I
Refer to last example,
' E  a% T8 ~" N; ^that means bank A have no money because we borrow 10 dollars from bank A 0 ]  i+ A9 ?/ h( S, _) |
Because bank A doesnt have enough cash on hand
+ D: `, I5 h8 I: N% `( z/ Rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E5 Z; P' e& A. P3 Z/ J$ s: o2 b
so does it mean if E failed to pay D,
6 g) s  Y4 N0 S% ?, B/ p# {' _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, % b" n7 G, }0 n. L! R  o1 t" i
in this case it doesnt really matter how much money is created,
6 r8 Z/ V! O# Z6 n7 d; e: [it's the problem of the debt itself.' p! @/ U% b5 K4 N+ p5 X
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
2 e; S2 q+ b3 @, \# U) b& x$ y6 r( r小弟一直都唔明...% v8 P* q0 n  R

1 |+ `/ x  S; g; P: v; u. \: q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
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; t; ^2 s9 R$ x, o) uThanks

, a  ?' x# v1 Y那些根本係 紙上財富  
% a' Y, c! q$ x" ?# {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
( B# p; N3 T4 n當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, g# e4 j1 [( }% I: w# ~& ]. i
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' `  Y& G. I* {; X: x2 O2 U
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. m: K) H# Y1 F' f% `3 h/ b" O& `
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) y! e8 @& m5 L( R% G2 O
計番回報率就已經係50%,所以可以好好賺
0 c$ E& E% b4 k; N2 G2 A9 I/ h' j前提係銀行之間要互相信任先可以咁樣借法  v: n3 \0 s9 ]$ Q" \: \: g
同埋個市場既前境要係好先得; t3 V; U( _1 G
但當經濟一差,公司估值趺了,物價不升反趺$ @' o/ D! ^9 a% _) Y. f8 D2 S
例如剛才說10蚊的, 趺到得番9蚊,
4 K+ M4 a" H  k5 T6 `' K% |2 d, k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 n" J, q" b8 @$ s3 L+ p" H
所以你就會覺得D錢好似蒸發哂咁
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+ y+ X/ Q. H3 {5 {8 ?7 |你都可以當標野咁諗, 個樣野多人可以狂升值,
8 X0 \0 Z8 Z- t1 V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,
, o9 C) l* [' |1 i. U) ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - T  F6 e* p% F) q7 _- 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
6 ^6 e9 K6 \0 Z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
7 u  u7 k9 U: D8 S5 }1 f, n" T唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 E5 x$ T+ g3 }& J) J. O  B( |& o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , x/ z5 c* d& m4 t+ w* p; g  t  W% t
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
, b$ d: r% d2 V, D7 ~$ v咁你話d錢蒸發左去邊? ...

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6 b) b2 Q: l, M- V正係咁樣
1 K3 u( Q1 V6 `0 L0 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
7 z! }0 d( {9 d: F分分鐘佢地唔使還錢1 A; g4 A- s. a, r) H$ t

) T& U% F8 B6 F* i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,
' D2 n/ `, P9 |& p連國家都係問人借, 不停發債券, 印鈔票8 i2 }+ _8 g# A- l" m" d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( K8 g% l* n- m7 t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
) l/ p3 \5 z* V, v1 B6 n* n咁而家"爆哂煲"算唔算先至係變番"正常"???

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) U7 }3 b4 f. o6 b3 B其實係...0 C6 ?7 H) u8 C
因為以前未生產, 先消費. b; r3 w5 ]+ {& \# q/ ^- ?
而家就要多生產, 少消費