0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" `$ T# V# W# q8 P) mWhy bank will sell 借據給第三者???5 H9 l! Y" a4 T3 r) s' b, B9 ]
I was so confused.....

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0 }6 p+ Z, m1 X: f講到尾都係賺錢
3 z, e! e3 c! V* Qso銀行可以不斷放款
9 I1 C# ^+ i, x' g4 \美國的房貸問題散佈到全世界9 ^! K" y: f/ U1 |% M

( \* S& g0 x; v/ N% z) j* X" Bmortgage loan 7 b- y9 K+ {: D
>conduit
5 N) U0 d0 R+ i; J3 R! F; J>RMBS(Residential Mortgage Backed Securities)
) n1 I+ l+ n/ L+ }* n0 k) E; T' n>arranger/ j7 W+ ~  R* t! S) Y
>CDO(Collateralized Debt Obligation)' R( g. D' P( c2 k1 H3 U; E0 c
最後去到投資者

Kev

i thought it is the reason of rate of return.7 u0 ]! D9 ^$ e
CDs could have different ratings, AAA -> F,$ X* C* Y# A  S8 `$ X8 P7 {, z, g
more risky ones would have higher premium (interest rate) as a compensation for an investment.( U# G' u6 @3 O- h, s* L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 a: b  e' E& l: a3 g$ yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& _4 c# |- U0 H  l; `3 NAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., Y2 a6 h. K* h+ Y( \8 U- D0 J! a
similar to bonds, CDs trading in the secondary market have different value at different times,  ^" |7 d3 z4 \$ l! h4 c5 e+ y
normally the value is calculated by adding it's principle and interest.
5 p0 ~9 G7 V) Y6 @- N1 }' l6 @eg. the value of the mortgage+the interests to be recieved in the future. . D; n. `! _( |5 p8 @  E8 j9 E
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." k! I' E+ L- U8 w  Q
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im not quite sure if the multiplier effect does really matter in this case.
1 _/ T% F" p# d# s5 Qin stock market, it's the demand and supply pushing the price up/downwards.
, w; j! a' n' O2 ^1 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 O/ g6 o' M( h+ j/ J- m1 [; z  \; BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 a) J1 b1 M- g0 y' T' `, _/ _8 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. % K/ w: ^7 S, }9 `) J
but the value of their assets did really drop significantly.6 x, R; v! m4 [' G3 a& a

1 L5 l" Q9 J- I7 P# v[ 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) e. z3 @' {5 q0 F
Refer to last example,, v; B0 L$ @  e
that means bank A have no money because we borrow 10 dollars from bank A
. P* N2 Q6 d! j$ gBecause bank A doesnt have enough cash on hand
0 I% d- L* o+ W' W* d- |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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7 Z6 l9 v" V- u. Q  g; AA->B->C->D->E1 _! e* @1 [3 _  G& V
so does it mean if E failed to pay D,
; X% b: o0 V7 b1 iall the B,C,D,E have to go bankrupt?# `' k( z# g4 h) [  B: n% ]. m
: h7 B, y3 @  x, n# t

% w+ g* c1 {: s0 \% Ythe multiplier just tell how much money created in a whole economy,
* n+ G' `- Y" y' Vin this case it doesnt really matter how much money is created,   j$ ?$ {, [3 x$ ^8 W; J7 e# b
it's the problem of the debt itself.
; f4 j' u% I. Q; n: e/ j8 q1 kthe 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
% F% d. y+ k1 M! g, x小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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, _1 c' s2 `9 T$ D6 b7 }5 D( b/ ~無可能淨係有人蝕錢無人賺架嘛...$ x2 M* }5 C+ ]

; T. [4 F6 v/ U% g3 t& S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  
8 d! n7 T1 |  C( e$ X  Z% c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
) ?, ?  K1 }. d* o3 N# g$ \9 `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ K$ E5 r# Y( V! l
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 Z3 S. q: O3 H; a( H' p個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 I' d$ W* h" C  H$ O2 D1 Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- o+ \  M! T# b5 C
計番回報率就已經係50%,所以可以好好賺
/ s/ A& U$ H! V+ a( c$ z+ R前提係銀行之間要互相信任先可以咁樣借法
6 H- M, [' K5 I3 A$ m同埋個市場既前境要係好先得
$ b! f0 t( Q. e9 a+ X: a, T1 D但當經濟一差,公司估值趺了,物價不升反趺8 [6 x: _6 C! A: _/ S: U
例如剛才說10蚊的, 趺到得番9蚊,
) D- I) t, w6 I9 c咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 Y, I! F! e) \
所以你就會覺得D錢好似蒸發哂咁7 x( L9 P' u" b$ }# H# J" q
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你都可以當標野咁諗, 個樣野多人可以狂升值,
) n: t4 K8 {, X" j5 I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,
* {; w- d, M% _/ _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " A0 g! f# y" h. c
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 K3 d" N2 A. L- t
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' m- L- w) ^4 W5 v  K4 f/ U9 A
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) l1 w* ]' n. K5 n$ ]6 R. ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 V0 C: ~; ~) x6 E8 s' k( H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
. v, X+ v/ }" j* W咁你話d錢蒸發左去邊? ...

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正係咁樣
6 l3 {2 i! G8 e/ H! N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" X' x7 c: F& M) X' T5 c
分分鐘佢地唔使還錢+ n* N9 D9 K- `+ D

# D: h' p, ?) I! {, h" \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,* h- r, r) W+ e! p" J. {
連國家都係問人借, 不停發債券, 印鈔票! k( t' A$ D8 N2 ?
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ j% s3 q) P4 l* ~) O7 }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' X0 @; c2 T1 C. ?% U/ k+ @
咁而家"爆哂煲"算唔算先至係變番"正常"???

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. q7 \- @0 e7 |* K9 c$ e1 R其實係...! k8 @) X4 N( @% h2 T
因為以前未生產, 先消費6 b% I7 `* s/ b/ H% |
而家就要多生產, 少消費