0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 O# L1 Y8 _5 Q; @Why bank will sell 借據給第三者???
4 z9 S3 ~" p; s" O3 d' K0 NI was so confused.....

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' q3 \0 ]% `6 u: {講到尾都係賺錢6 o3 b+ Q9 v- j
so銀行可以不斷放款
% ?2 X' X9 I7 W1 N+ J美國的房貸問題散佈到全世界1 J& D( z% A3 c2 ?; }4 j# C

; ~- [1 L( Y1 s/ Wmortgage loan 7 b7 U4 P9 U+ h& m9 j
>conduit- C9 p+ U% S# w( s8 b- o& v, H
>RMBS(Residential Mortgage Backed Securities)
& I' t4 @3 }5 I>arranger  P; @' G- h6 I( H+ N# G
>CDO(Collateralized Debt Obligation)
3 e* m0 a5 C( ^/ W最後去到投資者

Kev

i thought it is the reason of rate of return.
, C$ a' g3 z, C8 m9 t  E% ?CDs could have different ratings, AAA -> F,
$ c& H; d( \8 k+ z0 \more risky ones would have higher premium (interest rate) as a compensation for an investment.
$ Y% n2 y' A3 i$ y  q3 rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ ~: W" W( O4 F( ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ B/ K# G8 T0 o3 v5 ?8 {- l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% I& q  g5 k9 I& P6 p4 J
similar to bonds, CDs trading in the secondary market have different value at different times,- q# r7 C' z% b' \: d5 ]
normally the value is calculated by adding it's principle and interest.
7 M6 S+ B, @+ W" R2 Peg. the value of the mortgage+the interests to be recieved in the future.
, H; S9 _0 e6 c0 h5 ?% X$ cbanks 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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* B5 M) h# r) x" \* I) cim not quite sure if the multiplier effect does really matter in this case.
: w4 H# M* h5 P. pin stock market, it's the demand and supply pushing the price up/downwards.# d' V: ^+ B; T% t& M) g7 _( m- Z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" z" j8 i5 o: \8 f( m  Z* ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( t  E# y+ D( tThe 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.
+ {; K. g0 A! C# Zbut the value of their assets did really drop significantly.
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; ~! t, X! O% w2 L7 c[ 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
3 C2 |- k3 ~( W9 g% JRefer to last example,
3 h1 [( z; l( `0 bthat means bank A have no money because we borrow 10 dollars from bank A 9 R/ s: g: k1 J6 ?* Z! [
Because bank A doesnt have enough cash on hand
, R- q: K* ~- [* Z1 x. ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 g2 c' c. A" a  z. z! LA->B->C->D->E* M  S3 n( U  j  Y  i
so does it mean if E failed to pay D,
7 }  _7 u3 f; x9 d: W: zall 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, 3 P8 I3 i9 k4 F3 X# {0 |! X# j
in this case it doesnt really matter how much money is created, ( f* b! j* }0 F: Y# ]% E
it's the problem of the debt itself.7 u7 O+ \- d' O/ p7 q
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
& j" O) ]1 Y- s+ H; O) a6 a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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: @" O5 \) L# N7 M( d  T無可能淨係有人蝕錢無人賺架嘛...; ^) p# L, S, J# v9 r# q
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
0 J3 ]6 M) e0 p- b; j# X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
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! y7 J- Q! g. s- `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
/ K6 b& j( J1 }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 |) w0 D, l7 B; O0 h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9 y4 L- Z( b; z1 R7 g+ u& H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 n1 H! l0 G/ ]# m& C; D' G7 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# m8 S, _3 b8 U9 u0 O' h
計番回報率就已經係50%,所以可以好好賺$ r7 v& x! S+ l
前提係銀行之間要互相信任先可以咁樣借法' C) ^, f) A0 o( U5 u8 m1 |: e' B4 x
同埋個市場既前境要係好先得
) E. X! @# g% j7 t但當經濟一差,公司估值趺了,物價不升反趺
+ P; Y; c5 R9 H. R3 R& I  {5 b例如剛才說10蚊的, 趺到得番9蚊,
) e0 A+ G3 d6 ?# y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 P  p! D) d# U+ f3 }4 ?2 ^( a所以你就會覺得D錢好似蒸發哂咁
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' K8 p* P  c: w$ _# v- l8 w) q' S0 h你都可以當標野咁諗, 個樣野多人可以狂升值,
$ j5 V0 R( K" P# z& N$ @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,
* ^; K% h! K9 s" Q% t! q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  s9 k9 f, ?/ a% 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6 N" T2 D7 W& p
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
- s2 _! Q; k4 J; p3 h( R唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 o  v3 j6 K3 Z$ m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / }3 u5 @1 u; F6 }
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) S2 k) B: q
咁你話d錢蒸發左去邊? ...

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0 L- X4 F/ ^* T0 D7 f正係咁樣, i/ A2 |8 `. S
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* g% [* O' n6 I, E: e; f8 Y
分分鐘佢地唔使還錢2 j$ K9 n& ^5 F2 K4 P( z
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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,
, y. `! H7 N$ i5 d( K  p連國家都係問人借, 不停發債券, 印鈔票
, S% B$ `4 X" R* n! I! h: v+ X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 U$ z# b# f% K5 P  h9 Q3 g
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
6 B6 {5 H9 \1 W  e7 ~3 Q咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 H6 K; d# v  `9 L; i1 E因為以前未生產, 先消費
6 n/ ~2 M% z2 D" M. ]( ]; m* \而家就要多生產, 少消費