0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 g' e- L& r+ k  s! bWhy bank will sell 借據給第三者???
$ }" Z. S8 n& Q) |I was so confused.....

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講到尾都係賺錢/ o/ v8 ^& R4 M! {6 y
so銀行可以不斷放款
1 F# W- D& v' R; R4 F6 C美國的房貸問題散佈到全世界
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' K+ T5 }+ \7 A' G! M! _$ X) E4 Lmortgage loan 4 F: B" R! x  H0 y( m
>conduit& K. G5 g. K3 @, Z6 c
>RMBS(Residential Mortgage Backed Securities)" X6 b- k( L; ?6 B& c" I- g
>arranger2 w7 |( I9 K9 N  ^
>CDO(Collateralized Debt Obligation)% {+ K, j- _- T9 Q( g
最後去到投資者

Kev

i thought it is the reason of rate of return.
: B/ t4 H' O: E8 V# k& z; dCDs could have different ratings, AAA -> F,0 x  A! k+ t9 H) a( g
more risky ones would have higher premium (interest rate) as a compensation for an investment., P  }2 a/ u$ _, x0 c0 j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 S: H' z7 c/ R6 Z( w' R+ Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( u/ U% l4 e. x' ^  U2 b( Y* yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( q7 i, }# P+ d( n, X( Z1 L
similar to bonds, CDs trading in the secondary market have different value at different times,
( N. A5 D# K: `& A7 p- Nnormally the value is calculated by adding it's principle and interest.
$ i" J  j- f, V* L- yeg. the value of the mortgage+the interests to be recieved in the future.
7 w2 ?) ~( z: L2 d; wbanks 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.( D# }) m- ~& ^; d- M
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im not quite sure if the multiplier effect does really matter in this case.
. d6 F; h- y- x/ q  d3 q; R. Pin stock market, it's the demand and supply pushing the price up/downwards.
% c3 E& _$ C; hFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# h; d, O& B3 @" ]2 k$ g( x6 N
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( f( b/ E" a, s1 j6 KThe 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.
* m, X# H: a4 s# \but the value of their assets did really drop significantly.7 I7 W" a4 q2 k. N; w2 O, E
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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
2 t8 J& j5 W5 h! y  U- R: ^Refer to last example,' \; X) u( X2 N8 A1 O' u
that means bank A have no money because we borrow 10 dollars from bank A
1 B( t" {  J4 k8 b6 V; K4 M& n( UBecause bank A doesnt have enough cash on hand - `1 ?; i0 W# X0 V
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( J2 W" Q8 l  G' |A->B->C->D->E
# P: R  P$ ]' V) r. E7 Y2 \9 C2 Lso does it mean if E failed to pay D,
& I1 }3 c3 y5 g. Q6 c% pall the B,C,D,E have to go bankrupt?0 x7 x/ A/ ^0 w, {, O
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7 ^0 z9 Q7 {( a) }
the multiplier just tell how much money created in a whole economy, 2 m1 E: [) y' T4 s5 E  V4 ?$ ~
in this case it doesnt really matter how much money is created, ' I, G% G2 \2 ~& Z/ p
it's the problem of the debt itself.
# G* L, V# k3 D8 G/ Fthe 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
5 v6 a6 B( ]% f# Q6 C: i小弟一直都唔明...! m* L3 O0 P- T0 N9 w4 q9 i& @
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全世界都蝕錢，咁邊個賺緊錢呢?3 G& N4 T) e% c1 T- L
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無可能淨係有人蝕錢無人賺架嘛.../ K7 r: ^! P+ ~
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敬請各師兄解答
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8 P! U- S' B4 a+ gThanks

# N! ~9 z) C* T% m* j6 \8 B那些根本係 紙上財富  
( _7 R1 E" [' Y) U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$ l  J" _9 s8 o& C2 g) ]( Q

$ n! c3 f/ S! {! a; ~/ Qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 J2 a+ V8 i. M& m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 _) \( U- v. \7 O6 t/ J. [: j) V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 ?& O$ v8 R: |) Q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 r' x& G7 E/ E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: J# g0 j* X, H
計番回報率就已經係50%,所以可以好好賺
0 e/ L5 n! H7 v! ^8 x前提係銀行之間要互相信任先可以咁樣借法
9 s! g/ O, l, ~6 ~0 N: C同埋個市場既前境要係好先得
  ~$ T5 G4 u6 s2 n! r' ^2 c但當經濟一差,公司估值趺了,物價不升反趺
0 ?0 t( o# |: m) R5 u例如剛才說10蚊的, 趺到得番9蚊,
! a+ s6 ~7 h0 C( G7 T# O5 n咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  y# i& C9 p- ?0 u& O
所以你就會覺得D錢好似蒸發哂咁. s6 `6 h8 q! I9 {- J* ]3 e

) |2 f, u5 o5 Z  v3 p你都可以當標野咁諗, 個樣野多人可以狂升值,
# b/ H0 c" y/ s# Z2 D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, 5 O# v" u3 y) I; d, l( a& b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * |) L0 C) a4 q0 C! ~; L" E/ Q
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
. o" T- F& [8 J) X9 I# G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
! c9 Q' p$ a8 c# I3 P唔係d錢蒸發, 而係比美國佬洗晒未來錢, + w* O* x: F6 S, u3 {6 Q& T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / T5 i& ]8 q: `: Z) E
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
( k' `% b% U1 k# U! T8 y) o2 }: V! C咁你話d錢蒸發左去邊? ...

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1 f5 ^( {  M# u7 m4 Y5 i正係咁樣/ N6 b2 f+ H/ X7 s! I$ J
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
$ N( {% b" L% s3 B- K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,( `- `9 ^. W1 h" m8 m
連國家都係問人借, 不停發債券, 印鈔票
. i, Y! m, _# r一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 B+ e) j  }2 ]. Q% s% i% W
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
& m; d' |5 [/ a咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 d5 K# h2 p2 A$ \( z9 O因為以前未生產, 先消費
. s1 N5 V% C1 ^2 V) Z4 H9 y而家就要多生產, 少消費