0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 O1 S) x' |9 H' J! K: r$ G2 b
Why bank will sell 借據給第三者???
% r1 ~" `9 ?- _I was so confused.....

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講到尾都係賺錢: G6 `. |/ L# i0 p
so銀行可以不斷放款+ H- ^- \) x8 V' ^' C1 P
美國的房貸問題散佈到全世界
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mortgage loan . {7 s& l) R$ Q- g# T; z5 [3 J
>conduit* H8 W; C2 g* _) J$ H
>RMBS(Residential Mortgage Backed Securities)
, a* g7 d! O  b- z>arranger
$ r$ g) ^1 E& a# ?+ S: }0 x>CDO(Collateralized Debt Obligation)0 m( I; R! a5 @  I
最後去到投資者

Kev

i thought it is the reason of rate of return.
2 t' ~- w% a& z0 E0 o/ b5 q1 M- ~CDs could have different ratings, AAA -> F,
/ W+ A8 m; f2 a$ ~more risky ones would have higher premium (interest rate) as a compensation for an investment.1 _( J! k( O9 r: w. t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- @4 q" |3 o& ]- m) _% E( Z2 ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: y7 ]) N/ b; X: H* P2 w/ T) j% s
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 y9 s& @. O+ gsimilar to bonds, CDs trading in the secondary market have different value at different times,: I. G1 _2 |& [, [& v8 P+ I& N
normally the value is calculated by adding it's principle and interest. & v, k- b: m3 j, _0 e. w
eg. the value of the mortgage+the interests to be recieved in the future.
/ \' K, u; v, O) ]6 B! c$ Mbanks 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.
4 p- c+ W) E1 M/ y7 N0 ^" Cin stock market, it's the demand and supply pushing the price up/downwards.3 J3 C' j0 s) S0 W
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 N0 L' z, E5 XA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 i, R& D* |; ~, N& q; ~# P3 I# LThe 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.
7 \! q  r  P) r( |3 n2 Z8 l" Y6 `but 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
; P/ t( l# Y$ L% T! q8 f. }Refer to last example,
3 I. a" S3 ]+ @1 \that means bank A have no money because we borrow 10 dollars from bank A & d. s5 k* K0 U; Z/ z2 R) D
Because bank A doesnt have enough cash on hand
  v/ v+ A2 |" qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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" F6 \3 c4 R- b) q0 t/ lA->B->C->D->E6 Y# B* ^4 Z5 b
so does it mean if E failed to pay D,   L- P8 p3 s: Y0 J
all the B,C,D,E have to go bankrupt?
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# s3 W' ?1 f* ithe multiplier just tell how much money created in a whole economy, * L% M, v7 I* n: _$ m
in this case it doesnt really matter how much money is created,
1 `6 w6 L) Y1 K- Vit's the problem of the debt itself./ ~* f! C+ l4 D* l8 d1 Q
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/ }  I& K8 c& n" R) O9 `+ T2 [
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?1 V2 H  {! Z5 z$ e6 c5 ?2 F* [
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無可能淨係有人蝕錢無人賺架嘛...
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) T" l0 o1 Q( m: ]0 ]3 G敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
! ^) ]$ o& s. h4 g( Z1 w& P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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9 X. \* r* l( n6 f3 N# Uhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' Y1 Q' d, t- c$ M! e
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( c( R) I/ M' b' w6 }; U
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
* `5 f; Y# X* d2 A個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ G/ E7 ~0 }% W0 Z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ g" o7 V8 Y% A5 y. `計番回報率就已經係50%,所以可以好好賺
4 ]# z! ~; V; g1 p前提係銀行之間要互相信任先可以咁樣借法
$ G  Y1 X0 H0 q, I: S同埋個市場既前境要係好先得  I3 d, W6 s( {
但當經濟一差,公司估值趺了,物價不升反趺) D' z6 N8 R! ~" |' L& t
例如剛才說10蚊的, 趺到得番9蚊, 5 v. V- W. d8 n* V
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  |9 W3 k5 i, {; @1 j$ ^所以你就會覺得D錢好似蒸發哂咁7 p0 ~* @: g- }- ~3 k, x

& I5 B$ T. \  s4 \你都可以當標野咁諗, 個樣野多人可以狂升值, 7 Q' i( w$ q5 p! T7 Z
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,
3 F; J( `* i! a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 ?+ p* {7 L" p% u9 B2 n9 j/ 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) \" C% i" W3 m# x9 k/ ^
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.gif5 Y. n: `7 V2 e0 J: L
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 H# k* K: \. b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: g  h$ H6 {& x1 {: H. B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
1 Z' R' R4 A$ o* c咁你話d錢蒸發左去邊? ...

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) j# c- `! b* z正係咁樣
; r5 C1 w; V2 w; d, |! P. H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: ~) i; `0 X7 }6 H
分分鐘佢地唔使還錢
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% K7 }4 e8 F% `& A& F. {, s. a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,
" \% |6 i8 ?/ x連國家都係問人借, 不停發債券, 印鈔票
6 k1 Y1 \1 y% k- D! r一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. z0 t! }  [! 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
7 c: b5 H, R- l; d咁而家"爆哂煲"算唔算先至係變番"正常"???

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' ]; `3 k, o7 g  S  F其實係...9 m5 M2 w/ F1 q# G/ c, U  J
因為以前未生產, 先消費
( v4 j  W7 [( p7 R4 }/ c4 X而家就要多生產, 少消費