0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 M- b% Z& r4 b0 b& oWhy bank will sell 借據給第三者???
: H6 o" I. m; x# O" ]' XI was so confused.....

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+ q, D, x/ k9 X$ h5 ^講到尾都係賺錢& x; ^: x3 B% Q- P; N
so銀行可以不斷放款1 G# q4 `7 ^, o+ C: S4 Q5 E
美國的房貸問題散佈到全世界
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4 x4 ]# w- J' \+ dmortgage loan
4 }% M7 B4 R( X: A- l1 I" o>conduit
, o$ n' z3 ~6 [>RMBS(Residential Mortgage Backed Securities)
; H4 T/ r  [# ?- ~6 }>arranger8 S6 }" T2 D; V( N% Z
>CDO(Collateralized Debt Obligation)+ G( S# L; Z5 ?# [7 Y: O
最後去到投資者

Kev

i thought it is the reason of rate of return.
. [9 T0 j. P* n% dCDs could have different ratings, AAA -> F,, c' U7 q4 n# z0 b0 l( n+ z
more risky ones would have higher premium (interest rate) as a compensation for an investment.- v6 a3 \4 f0 @7 g: l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ k9 B  z2 M5 |4 F( q" f' ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 L# N: f, N4 L: u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. ?% d; _/ r  Q$ A1 G; U8 T
similar to bonds, CDs trading in the secondary market have different value at different times,8 B! E. {; u. o- n
normally the value is calculated by adding it's principle and interest.
0 N* c( v6 i  leg. the value of the mortgage+the interests to be recieved in the future.
: [* u* ~3 U8 N4 Zbanks 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.7 k0 u2 B# K$ `9 p& z

) e0 i- P% @) eim not quite sure if the multiplier effect does really matter in this case.
  S. n; M6 r' p" _in stock market, it's the demand and supply pushing the price up/downwards.
; }. j/ y6 I1 c2 RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# n& k: ~: B7 {A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 ?: e, B+ d" K1 W! c% P" F. N
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.
2 P# M' e: h( z4 D/ C' r- k% c+ [but the value of their assets did really drop significantly.% l+ X0 o1 C9 W5 F* y$ o/ r" r

* a7 }7 b  f& M+ E0 T[ 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.gif6 v) S+ Z! |3 O* z" |& e
Refer to last example,
7 R- p( t# i" G* i. x# \3 Tthat means bank A have no money because we borrow 10 dollars from bank A
# V3 ~- P& M6 |. E# g; {Because bank A doesnt have enough cash on hand
& f! S) w3 \: H1 Y' ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
* m- P0 s8 r# L$ p# {so does it mean if E failed to pay D, ! D9 ]9 K) k5 W" u: J, z! t
all the B,C,D,E have to go bankrupt?; G2 a$ z/ `5 ~/ r7 G; d) M

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% Y! R9 K5 t# Z' _  zthe multiplier just tell how much money created in a whole economy,
8 s4 S4 o/ p) e+ Q* G7 q1 Tin this case it doesnt really matter how much money is created,
( e. p6 S+ C3 e8 z3 [/ q9 Uit's the problem of the debt itself.5 |, y+ i; G- V& q% f8 J- M
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
; d8 H1 M" L" [& ~) {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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無可能淨係有人蝕錢無人賺架嘛.... ~. U, q* N- T- t: u

; [& a  l( p7 f# W, {; g* b! r敬請各師兄解答
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* N( i/ A1 `7 L# A0 q7 x$ s/ ?Thanks

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那些根本係 紙上財富  
4 q. F- P0 a9 V2 D, i/ O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 f* m# B& g, Y+ H2 I3 n" M
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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, F) t$ v( \; z6 E" |& ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, q  N% o+ C) H8 s- G" s4 H4 u+ 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
1 S% a& z: x2 }9 y+ ?個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- _1 U7 t. c0 B' l: g+ L4 \0 j5 J( }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: s; ~9 l* W5 o# e; S6 Q. q, ~
計番回報率就已經係50%,所以可以好好賺
; h" Y0 }/ v1 @# ^/ j前提係銀行之間要互相信任先可以咁樣借法! h1 t9 d% T5 Z8 l. o
同埋個市場既前境要係好先得
: K; r, Y% ]. E4 V% Z2 ~但當經濟一差,公司估值趺了,物價不升反趺
( l3 g3 ]& C# D" _例如剛才說10蚊的, 趺到得番9蚊, . _3 q( `4 |. t$ Y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ _+ {/ V  W% r  G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, ; z& J  Q0 Q, W9 m2 @
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, + p" _+ t6 A; W  L5 ], ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% h8 v' v$ e! D5 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
: y  e$ x3 L% Y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
) k# b! N5 k; i; S7 {* _/ l唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! O6 E# g$ V4 s7 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! h8 B8 f% L* J& |  z
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* j0 K4 c# M! s. k. A, l% c
咁你話d錢蒸發左去邊? ...

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正係咁樣
! P9 K8 C- e1 o* {. w, u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
9 g; P0 x8 a+ A$ M9 M6 ~! A分分鐘佢地唔使還錢4 X6 h8 g4 c' @
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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,
. ~7 o2 B. ?4 D8 {連國家都係問人借, 不停發債券, 印鈔票
) H2 y+ A& o/ ?" f0 d+ B一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, |% q& j5 M5 K3 }& S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.gif6 S; `) N8 T  z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...4 Q2 L( J( u: w1 i6 |1 Z
因為以前未生產, 先消費- ~+ y5 Y& L7 ?8 C1 V. y
而家就要多生產, 少消費