0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 i9 p' P4 ~4 M7 v
Why bank will sell 借據給第三者???; {  B" V3 _' V) N  c
I was so confused.....

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4 @" ]' ^; p8 a7 \+ c4 K) J! q8 Y講到尾都係賺錢' o; ]1 ~4 ]/ m, c0 [+ ^' s
so銀行可以不斷放款
( N' n" X9 y# k8 a% x9 ?3 K美國的房貸問題散佈到全世界, Q) E0 k( B# }7 F/ Y0 r8 N

! v6 M) T' i( P) cmortgage loan
& T( _- s* w% R+ g4 j, o2 \>conduit
& E- u: p8 H5 S- E>RMBS(Residential Mortgage Backed Securities)
5 p1 F3 C4 @8 T. a+ B>arranger- O" M7 \' L' l8 r- `+ C5 T" Z# a: ~
>CDO(Collateralized Debt Obligation)
. l5 y) e2 D$ R0 f/ i. M/ i最後去到投資者

Kev

i thought it is the reason of rate of return.! z4 T" m: ?( p4 d" ?8 y" G$ R1 u
CDs could have different ratings, AAA -> F,
0 W" [' u) \8 E# }( `+ Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 A; b$ n. `9 e8 \# J8 p7 W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ v5 m5 {. D; V. |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 g3 m* G$ k; c. Q, [# o( k
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ s- A4 E. Q  ]
similar to bonds, CDs trading in the secondary market have different value at different times,) K! p: h" w; n. V
normally the value is calculated by adding it's principle and interest.
* v! ]1 {5 ?# J6 reg. the value of the mortgage+the interests to be recieved in the future.
2 ]' S+ Q7 b- z" f/ e; a/ Ibanks 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.
! h' a( e8 ^, \$ S6 Min stock market, it's the demand and supply pushing the price up/downwards.
# _7 K% D) F: b$ m: WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 G5 W  k! H3 }2 H* cA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 {1 v" c2 p2 G9 g2 t' l* tThe 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. 3 i+ s. X" z3 Q) {6 W5 p
but the value of their assets did really drop significantly./ \3 C( s. j0 b5 p0 @9 ?
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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
: s* }) B3 ?4 Y# M; CRefer to last example,& p: G5 Q# @% A$ _, W+ C& B
that means bank A have no money because we borrow 10 dollars from bank A
& d9 A. t4 b2 o$ I# Y' PBecause bank A doesnt have enough cash on hand
! V* K0 \5 B  J( J6 p+ itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ F" v2 f% U$ \A->B->C->D->E
. L: Q/ l; ~2 Vso does it mean if E failed to pay D, 9 {6 K: `/ i: ^) \' H- [: E
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, + z1 Y/ r. c/ R: @3 V: r
in this case it doesnt really matter how much money is created, ( U( ]: k" X5 `- _7 O
it's the problem of the debt itself.
+ {' W9 n4 b7 Ithe 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.gif1 G4 E1 V0 W+ [1 b( ]
小弟一直都唔明...4 {# F  w: X- L0 R
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全世界都蝕錢，咁邊個賺緊錢呢?# |1 V6 d% R. n( d$ `9 h

! U$ Q9 F; h+ N4 }無可能淨係有人蝕錢無人賺架嘛...
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( N6 j/ ?3 B" g) T9 @1 f9 f' {敬請各師兄解答
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& p% v2 X' Q- g9 ~' A, L; NThanks

% x: D( E* n- H5 G' Z那些根本係 紙上財富  
; E, d& }7 F5 W4 q4 G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 graphic3 V" \4 T0 y  [: f! d
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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& [2 G" u  E/ G' [) r) {8 C
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ p0 s# w1 d: a- m) F  y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
& S; z# V" [: a4 T( j. S  l. o( F個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) F, e. ?+ n" A扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ l: X- X, w, `/ l6 \- j4 f* J計番回報率就已經係50%,所以可以好好賺
& f) s2 N3 R# v& `前提係銀行之間要互相信任先可以咁樣借法6 X  [% |1 z! Q3 f. K
同埋個市場既前境要係好先得
- R7 K% \8 ^! Q0 r7 M但當經濟一差,公司估值趺了,物價不升反趺
2 H, F' k/ s& V& w9 L. I6 J3 ~9 c例如剛才說10蚊的, 趺到得番9蚊,
, k/ t0 C- l  C; B5 `5 `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( s/ H: s& P3 V0 o& M0 o5 b! ~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,
% ~3 w: |( t# Z! S- |! E6 k" q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, ; Y' ?  y- i! [) {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ U% ^1 n  b) t  P! G0 N8 }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0 a& d2 ?, c; k3 J' M* e/ J
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
5 H8 e; }: t/ o# |1 q  G& P% E% D2 H7 U唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& |& h. {) W) m+ C2 O- c5 \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 t4 r7 X. p9 [6 _3 H6 _, b* O- Y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& E' ]  W( t) V/ _4 G1 s, [
咁你話d錢蒸發左去邊? ...

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$ J) G; g2 X2 n( }+ {正係咁樣8 C. Z. J5 S* W! S
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' |( ^& f3 Q2 G% j7 _; _
分分鐘佢地唔使還錢
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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,
' C/ }2 o1 C: E- ?5 g連國家都係問人借, 不停發債券, 印鈔票
" @+ D5 ^# ~2 }- b* k2 ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 z& u  a$ u. I  e: R) ]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% U5 H/ A) I* Z0 A! Q8 z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 A, e6 e6 f, z6 t2 _
因為以前未生產, 先消費
. a% Q9 S; C6 U, C4 g而家就要多生產, 少消費