0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) {" V9 c0 W) E( l- ZWhy bank will sell 借據給第三者???; k5 c: x/ ]( {
I was so confused.....

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7 @! T! U% T% N2 J$ _講到尾都係賺錢. Z) j7 c- }7 m, X! J
so銀行可以不斷放款
$ C) Z: w) i* W* d美國的房貸問題散佈到全世界- x/ }3 a- \, ]2 F3 s& ^
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mortgage loan
2 c, k/ Z. k# x" {3 m  W5 f0 `>conduit- B/ N4 a3 ?6 h& x
>RMBS(Residential Mortgage Backed Securities)
+ v3 t" Q& W# V# \0 y/ D) a4 U>arranger+ V& ]9 X# g6 u! @
>CDO(Collateralized Debt Obligation)0 V4 s, P0 G9 F# S8 b9 n" b1 N
最後去到投資者

Kev

i thought it is the reason of rate of return.
4 G2 N/ U0 [" I8 I( e+ \CDs could have different ratings, AAA -> F,/ x+ W2 p8 |9 K) ^: o
more risky ones would have higher premium (interest rate) as a compensation for an investment.) e' M' u! B' w2 i
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," M2 ~; K' t1 [, `
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; q- T" s2 L! t' b* HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 b/ I( z2 k2 ?& B" a  G+ ^  M  l( Bsimilar to bonds, CDs trading in the secondary market have different value at different times,
/ ]6 G. m- A* y* C" z+ Inormally the value is calculated by adding it's principle and interest.
& R0 z& t: ~/ leg. the value of the mortgage+the interests to be recieved in the future. ; l8 {+ D) q2 @2 q" H, A' A( Q+ d
banks 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.; q) q. e; Z/ }! o0 {
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im not quite sure if the multiplier effect does really matter in this case.; e, ^4 o9 N0 ]9 `, G8 l, ~& }( J
in stock market, it's the demand and supply pushing the price up/downwards.
' {- i" u% V7 N, k& L; @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 i2 @9 |6 M4 E* j8 a: g: lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 U; V: X) Q- k5 a3 @
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.
& U/ Q  W/ Y& k3 |0 ?but the value of their assets did really drop significantly.- n9 X/ T6 \' Y& A
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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" Q+ o7 h5 Z" |: |4 v. R
Refer to last example,. y& Y; ?: I, d5 b& N  X
that means bank A have no money because we borrow 10 dollars from bank A
0 m. Z9 z$ f1 B- W" A2 Q6 H4 ]0 ABecause bank A doesnt have enough cash on hand
5 y6 ^; r9 f( S0 gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 K, k" O$ i5 ~2 l5 s9 \' n
so does it mean if E failed to pay D,
/ G" c5 \2 R' Z; @0 l1 n' rall the B,C,D,E have to go bankrupt?
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9 `5 d7 d9 Q$ I  q5 R3 Y4 jthe multiplier just tell how much money created in a whole economy, ' t8 a# d$ B; x5 J
in this case it doesnt really matter how much money is created,
3 ^0 N1 @- R' O$ D- `1 |. G; a; A. hit's the problem of the debt itself.- {/ x& a3 N, v" {, \8 @
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# o0 b, V( r- j
小弟一直都唔明...5 @. D5 B9 K& i  S  S% w) X

& J; k+ i) M. H& F全世界都蝕錢，咁邊個賺緊錢呢?
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* K7 [4 {8 W9 C無可能淨係有人蝕錢無人賺架嘛...
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. [, d& Y: r* Z# v4 L! n3 X" y敬請各師兄解答
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Thanks

$ \" ?: H  e6 b  H; ^
那些根本係 紙上財富  
6 R5 E, Q# ]' q) D$ r9 k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& O$ k$ p( I6 P* f( P$ l) W
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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
' p6 N! y! P8 K8 V% e* e' y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 _+ u) L. |4 ~$ \, a
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
+ I; [  ?; t$ B* D9 g1 u. C個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) X7 H- e8 E. s: O8 R. v1 K( d; S, C
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! ?% h0 {+ }3 J, S3 n
計番回報率就已經係50%,所以可以好好賺
+ v" N* u, _6 B, y8 o前提係銀行之間要互相信任先可以咁樣借法7 E+ I  I/ g/ p% R8 f- J
同埋個市場既前境要係好先得! m/ @3 _3 @; M1 l5 d- J& ]1 j
但當經濟一差,公司估值趺了,物價不升反趺( A6 V* n3 ^; s/ t) c
例如剛才說10蚊的, 趺到得番9蚊,
) z9 I, j6 i5 [" N/ J: H& ]2 F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, h8 q" S1 k' m9 m所以你就會覺得D錢好似蒸發哂咁% k7 F5 C- z  w+ o' {: I
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你都可以當標野咁諗, 個樣野多人可以狂升值,
8 X, A# ?' P; ]7 e% ^* o+ B/ e0 [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, 0 T5 K% Y2 b2 O! u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. v: R/ ^' N- N0 y0 m& D5 m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
( y3 D+ L1 S' 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
- M) R2 U$ {5 V" H. V* E唔係d錢蒸發, 而係比美國佬洗晒未來錢,   m! ]0 C3 S+ Y# q2 E+ T; d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 @5 d2 G/ C7 e: V# J, c- U& I
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 v, ^, ?4 c5 x! x9 z
咁你話d錢蒸發左去邊? ...

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' V8 q5 @* ?3 B( ]正係咁樣0 a/ C, e- c6 m9 ^, y* R" J3 v) a. `
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
1 X- H! R2 A/ X( P4 ]分分鐘佢地唔使還錢
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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,& \4 X, Q- O9 |' K( y
連國家都係問人借, 不停發債券, 印鈔票
6 Q5 f/ r2 }' n8 O5 Q" i. ]一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% F  \+ i0 |& `0 ?0 q/ c. 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
" ]6 K$ Z& V" Q咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...& D% i$ n2 \$ O* Q0 ~6 Q- h8 K
因為以前未生產, 先消費
. R0 i% Y* B6 y而家就要多生產, 少消費