0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# F5 d" [' k  r+ M
Why bank will sell 借據給第三者???
8 X" W- Y6 O. _& _/ ~I was so confused.....

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講到尾都係賺錢0 b8 i' j7 Z- I" O2 d: F
so銀行可以不斷放款" f; X: a) u% P) v7 g- N& D. u! v* Q; [
美國的房貸問題散佈到全世界: ?" k) U8 P4 N

: v6 y8 Z$ u0 d* y! X6 H3 p" \mortgage loan
6 h0 |- o% g$ v6 u* c9 S& @' v: `1 a2 ^3 T>conduit: Y: I% v6 _8 L% X
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
4 |+ `. r0 y9 p+ P最後去到投資者

Kev

i thought it is the reason of rate of return.- i% w' R( y, R7 j7 |6 p
CDs could have different ratings, AAA -> F,5 `. J! A* {& n  x1 V" N; J  Z$ [- B
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, H5 d9 `7 {: O) smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 N6 r* @! h' _! Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- I* f/ ?) r3 a0 b; W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) S! t4 m; C! y0 b# L- e$ U. q) _similar to bonds, CDs trading in the secondary market have different value at different times,2 l7 f8 ]* L5 ~" B& L
normally the value is calculated by adding it's principle and interest.
4 R" s* ~( A3 }" u) a" R( H/ [, _5 G. teg. the value of the mortgage+the interests to be recieved in the future.
* E$ M# ]3 o! S5 O. 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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im not quite sure if the multiplier effect does really matter in this case.# [# a' y# m% R% I' L% ]3 b7 d
in stock market, it's the demand and supply pushing the price up/downwards.0 F" b6 k& }8 _4 S  Y9 N% o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% @: W' ?& g) K8 z! Q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 J% i9 S1 l) V* }/ j
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.
8 F: q% q3 ^' c" {! @! i) @: @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& U, A, W% C! x" }, ~
Refer to last example,
$ E# R) t, {% k/ m/ h+ Zthat means bank A have no money because we borrow 10 dollars from bank A
( A- G& z# M7 B5 P# m* `Because bank A doesnt have enough cash on hand
& G9 N8 j$ w' u/ r" htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
4 C6 n4 p' e9 e: V/ n- B/ y# X3 Uso does it mean if E failed to pay D, & G1 \9 B) _6 T' }4 S
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,
, g0 i  Q; Q; B+ q- l8 a' ~in this case it doesnt really matter how much money is created,
3 P5 e1 c& l) b* }) n. P& qit's the problem of the debt itself.
; d  k8 C- N# }7 m4 ythe 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.gif2 X& z5 b* ~5 H1 l3 z  S" p4 M
小弟一直都唔明...+ n! ^' A9 z; U
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全世界都蝕錢，咁邊個賺緊錢呢?% \0 m0 t0 u; i7 G& G, W& v

2 _# e- b, l% ?' E: v3 O5 [; o; k無可能淨係有人蝕錢無人賺架嘛...9 h6 t% V; v5 W

3 q- D7 N2 a" S" C- q6 M5 g敬請各師兄解答
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Thanks

7 b4 ~6 K' @  X那些根本係 紙上財富  
' h# t. t9 K8 Q' s- @/ b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' `9 w0 X+ m, H2 k* p% P! ]
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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9 u$ H; I( J: I; O( i  d$ i/ V
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 @3 S  @/ I5 s4 _$ r7 H3 B
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
* w6 v" G5 f1 m2 E9 p! H$ M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& n$ ]' J! w1 u& K
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# ~6 B% N8 X- M
計番回報率就已經係50%,所以可以好好賺
1 ]; e' t1 a9 S. g# i前提係銀行之間要互相信任先可以咁樣借法
9 F* C6 r& p$ G4 T- V同埋個市場既前境要係好先得3 E  M3 N9 ~( R* X8 ]
但當經濟一差,公司估值趺了,物價不升反趺
1 S+ ~  w$ S' N( }例如剛才說10蚊的, 趺到得番9蚊, 4 t% f2 p: A1 ^' D! y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) U4 m% O, J2 R# R) k' j
所以你就會覺得D錢好似蒸發哂咁3 H8 O6 m6 O$ B$ Q2 f) s1 j
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你都可以當標野咁諗, 個樣野多人可以狂升值, 9 R8 Y# l' o- c
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,   k2 s( N; a- j: P$ Q) C# ?
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' A( j7 Y1 {& M8 e% d9 T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. g8 T4 p& N$ }9 n" S
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
3 `' M5 K% s2 h唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 S4 x3 Q6 Z2 A2 \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 ^; g5 d/ v9 u! q" p8 ~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
% }8 K/ ?' [1 p咁你話d錢蒸發左去邊? ...

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正係咁樣
0 d0 ~; @# R( C7 \/ ?) e" f' W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* i8 I6 C3 j/ G6 G
分分鐘佢地唔使還錢
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2 R0 @" W, `" Y7 h) Q; L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,1 [  {2 |* H5 b& `  M
連國家都係問人借, 不停發債券, 印鈔票3 \8 q- p: u- ]) \9 o8 J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ h, |  e6 o" c* R9 ~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
/ @% H, K7 @9 s) m3 |咁而家"爆哂煲"算唔算先至係變番"正常"???

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% }* C6 W$ _$ _# `' b! ~其實係...+ _5 l. X& G, X
因為以前未生產, 先消費: `1 ^' B2 w+ w% y
而家就要多生產, 少消費