0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# f1 A- S7 r. K% [1 G; V  G
Why bank will sell 借據給第三者???* u# ]: }" }9 {" B; U$ o  t8 r
I was so confused.....

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" k" N; z- o' h, \) n講到尾都係賺錢4 }. L! b3 u6 [6 a7 U; E+ ~
so銀行可以不斷放款: a/ U4 Z9 U4 ~9 z2 s1 U' ?
美國的房貸問題散佈到全世界
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3 Z( d+ @2 D7 v) jmortgage loan
, X! C# S% p3 I* Q! R; ?6 g>conduit6 S8 F- P0 J5 J# |
>RMBS(Residential Mortgage Backed Securities)
. Q3 y; j  T4 _8 z7 T' x& h8 L>arranger
4 }1 L' b; |& u>CDO(Collateralized Debt Obligation)4 q; I4 ^% N) u+ V4 P
最後去到投資者

Kev

i thought it is the reason of rate of return.; T2 V0 h1 ^& N" G% T/ s
CDs could have different ratings, AAA -> F,
/ ~1 W5 o( v0 i- l. c1 k1 h  b7 s6 Fmore risky ones would have higher premium (interest rate) as a compensation for an investment.+ `. Z3 K( h  P2 R4 C2 R5 v
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' b( p' ]* {7 C: U* w0 l6 t+ a  gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: e9 p" I, |( ^1 v, U4 B  o/ vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  E( w! e1 O) `% \3 Hsimilar to bonds, CDs trading in the secondary market have different value at different times,
! J6 F' B. V% f( G- V9 ?normally the value is calculated by adding it's principle and interest.
! G1 W3 E  n. D) z0 f2 jeg. the value of the mortgage+the interests to be recieved in the future.
2 Y- a; |$ {5 z6 fbanks 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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$ @9 h( r$ _) e7 `4 m. ~2 |: Yim not quite sure if the multiplier effect does really matter in this case.: f, @: B1 }- o
in stock market, it's the demand and supply pushing the price up/downwards.+ p7 N# v5 l0 P7 E& R
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! w3 O8 f' Q! E4 v) X' y2 a
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ K2 K* F# Y% n; h; f
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. 4 R6 D) s) _; ~6 G# P! r6 T: D
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
) k! r" V, S$ C  |" U  PRefer to last example,
8 _( _0 j8 T# G- ]/ q2 ]- tthat means bank A have no money because we borrow 10 dollars from bank A
" \, S* m, w& j" ?Because bank A doesnt have enough cash on hand
0 y) o: W" J; J; J. Btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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; v% I0 E- o7 b" PA->B->C->D->E; e0 S+ T  K, `1 C4 y( A# x- x
so does it mean if E failed to pay D,
/ [. q5 q4 ?/ u% C, E0 v6 i, n; Gall 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,   U8 D% s4 |9 r' @3 W5 T% ?8 C
in this case it doesnt really matter how much money is created, # J0 m; v0 F8 r) C, `7 q# _, R
it's the problem of the debt itself." e7 p/ q  U  d' ?1 S  t
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
5 X6 d/ k1 f9 U4 b小弟一直都唔明...0 q2 O2 E- M; l
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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...
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敬請各師兄解答& l/ G4 g5 g  q8 l
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Thanks

' z% n6 n% }/ m6 j+ _那些根本係 紙上財富  6 |0 T, @" H+ d3 _# o7 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" H! {9 e) ~/ k7 p$ g" X# j

* M0 `+ z/ d5 b1 x  y) t' x( }% Chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! l7 |2 O4 c  S) h2 v' @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& `8 y1 M' r0 K, s* d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! a# T3 W3 P5 w. G- `' w  M3 z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 U% t) F, O4 Z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ F" @+ J  m+ Q# L
計番回報率就已經係50%,所以可以好好賺
+ G/ E8 l! B& W; E5 Q8 g前提係銀行之間要互相信任先可以咁樣借法
, J% \& V2 c9 o5 U同埋個市場既前境要係好先得
' h, C3 E" k( r; s3 P但當經濟一差,公司估值趺了,物價不升反趺* Q1 W. M1 a' f: L% b, g# B
例如剛才說10蚊的, 趺到得番9蚊,
, @; g4 R9 C+ Y6 ]% t咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) r! A" q3 Z+ p$ H
所以你就會覺得D錢好似蒸發哂咁3 ^. N' K) l: Z8 ?5 |
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你都可以當標野咁諗, 個樣野多人可以狂升值, 3 H) a9 |" `8 V% w4 U3 `% t( o
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,
: d- \/ s6 e3 G5 E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; f% F# z. j3 T* s+ 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
7 }/ g; l# O: |0 m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
  ]; S) v7 b' a2 H; U唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 A! n8 M8 ?6 @# c, b4 g) z" h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' u$ q9 u9 O; l: l+ l
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% [  _8 E2 H; N
咁你話d錢蒸發左去邊? ...

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! \4 F/ n% Z" e正係咁樣1 H& a1 K% w% N" 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
5 Y# f6 V3 {# y+ ^) d0 I1 L分分鐘佢地唔使還錢) w' q$ b2 X  R0 `. q6 f( d

# w4 y# p- s5 W, w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,4 y* h# l* I5 @) k) v0 v: t) w1 W
連國家都係問人借, 不停發債券, 印鈔票
& B. U+ z, i) R; a1 t6 S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# x0 C9 d+ M9 f6 J$ p5 Y
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, q! D2 u* {) Z0 D0 \7 N/ J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
0 P" G/ K7 H( F( h$ T3 ^6 A因為以前未生產, 先消費
6 i  x" P; l1 ^0 @而家就要多生產, 少消費