0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 [( K' [& Z* c
Why bank will sell 借據給第三者???1 L, p; n" k  V" y9 g  q
I was so confused.....

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講到尾都係賺錢9 ^- n* }  P) f/ V# j
so銀行可以不斷放款8 n7 z3 W; L3 E# d9 i
美國的房貸問題散佈到全世界
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- v3 ^0 j* @4 W. O5 A0 Omortgage loan & d/ G- o) g. ^- g
>conduit
, `  z. F( J1 F" @>RMBS(Residential Mortgage Backed Securities)* u. r/ U8 x$ W' }* @+ Y
>arranger
0 S+ C! A! e3 A( c6 u$ v7 |- v>CDO(Collateralized Debt Obligation)
# U  \( w0 C3 @* o2 t( g& {* N最後去到投資者

Kev

i thought it is the reason of rate of return.) n7 N: a4 {' y5 B' d5 ^0 c
CDs could have different ratings, AAA -> F,
. T( s! x# h0 |4 l# Z( R8 i" Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.9 y, y& S" m8 P3 C- C# t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ f9 N6 I, x3 n* Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; F$ I+ i; f, A& A3 YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; v, [  G* W8 hsimilar to bonds, CDs trading in the secondary market have different value at different times,) F4 v8 J* T5 L
normally the value is calculated by adding it's principle and interest. . u( n4 G% P2 U+ T* |
eg. the value of the mortgage+the interests to be recieved in the future.
: o. w# G3 }+ y0 x6 q  U) Dbanks 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.& d9 k7 I' R% P  t% Q

4 m; Q# L# s4 j1 h7 C- oim not quite sure if the multiplier effect does really matter in this case.
& b/ `2 U. ~8 E. M$ j$ l0 v# D  Qin stock market, it's the demand and supply pushing the price up/downwards.
- M. T+ I( O4 |# oFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% ?- q6 w4 `; Z; s: V, i- m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ j  o4 {6 R. r6 Q4 H+ iThe 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. 5 m9 T9 [! P- S  z
but the value of their assets did really drop significantly.0 y3 R$ T, K) y  Z
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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
9 a" C2 B6 [( I0 kRefer to last example,+ f0 N( z, ~1 y& A: Z3 U" C
that means bank A have no money because we borrow 10 dollars from bank A & |% l2 _( i3 b" P8 Y0 B, ?8 v% [
Because bank A doesnt have enough cash on hand
5 D& A& ?8 N; H$ xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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) L+ ?$ a4 i: ?( {! rA->B->C->D->E
; ~# ]8 ~) t8 [7 ^1 Qso does it mean if E failed to pay D,
; J. K- k# u3 x  d  s& I" Wall the B,C,D,E have to go bankrupt?  Z! p. x, l7 Z, H
& ?9 P- K: \3 p0 d  B1 M  z: K

9 z4 T; k! b8 e7 ]2 R! k' d4 A2 ^the multiplier just tell how much money created in a whole economy,
! L4 @% D6 x9 z, Rin this case it doesnt really matter how much money is created,
% k6 R3 a, y9 O. Sit's the problem of the debt itself.
1 T/ M/ o9 i- y0 ~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% M6 c# t% F% Y* U: k$ ~
小弟一直都唔明..., d# Z% C! R& l; `) q3 _8 f! q
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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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2 W+ ?$ B8 f1 Y; i敬請各師兄解答
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# C$ N$ t  d3 x# vThanks

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那些根本係 紙上財富  
. a' y8 c) F& b* I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" d1 ?4 t* p0 u* u. K+ K+ b) }

. }- F- X& V. I9 khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產6 t; e$ \6 K/ W9 E6 g
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( Y- b5 X8 f  Q( I0 n' d; 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
* G: q; i; G7 k6 r個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 ~% ?& M& E: t& h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% U7 `9 G5 C( {% P7 [9 m% R. L7 X
計番回報率就已經係50%,所以可以好好賺0 _+ E  ~! o6 f( X
前提係銀行之間要互相信任先可以咁樣借法" k5 p6 G, w& o6 S% z8 }" m8 x
同埋個市場既前境要係好先得
6 i) W, p7 w3 Q# f, _& t; I8 b但當經濟一差,公司估值趺了,物價不升反趺
" `2 R* z0 X" a例如剛才說10蚊的, 趺到得番9蚊, * _' s  ^, i$ b1 I4 T
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) C1 F/ o! g/ F, X/ O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, 5 W( \( z4 B" a7 S
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,
: Y2 w) v& J' A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - F8 v6 \5 S- u
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& H, l- O8 A9 i; K
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
7 f  }+ G) w6 V唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 o. k' c* w# C4 ?4 F) p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' s$ L* t# O' p8 [) d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 [8 V- G, T1 I. u" X
咁你話d錢蒸發左去邊? ...

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正係咁樣
* s- j" p$ A* N/ T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& H( S; X) f+ J
分分鐘佢地唔使還錢' h6 }7 V- Q6 \* l! b
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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,
& h1 a/ p" S$ b5 R9 ~連國家都係問人借, 不停發債券, 印鈔票, y( B( Q+ O2 F) W& ?) x" T9 L. o
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ w# _2 `: @0 q& K* g. j+ ^9 M) i
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
( v# a* i5 i% W% k咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% t. m0 W# P4 T" q! z  O! d
因為以前未生產, 先消費$ n: w0 n' k" I' [+ K; P
而家就要多生產, 少消費