0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  Z: n( i% Y. FWhy bank will sell 借據給第三者???  c4 Z- K4 j* \1 p3 _& c7 q8 Z3 h
I was so confused.....

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講到尾都係賺錢$ t& ]0 W9 v, }* T4 \: u
so銀行可以不斷放款2 ]* ], d* ~2 }; f
美國的房貸問題散佈到全世界
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mortgage loan   S; X1 A1 O% @. {
>conduit* F! S6 U) w2 {7 i  T  U/ g
>RMBS(Residential Mortgage Backed Securities); Q: K# Z0 G" _
>arranger. P  O. r3 Y- C# E8 w8 s/ B7 q$ U6 b
>CDO(Collateralized Debt Obligation)$ L7 E8 b( l1 s5 ^* y: _
最後去到投資者

Kev

i thought it is the reason of rate of return.
) d% `2 K' e" w: x- G8 Y( Y' S+ xCDs could have different ratings, AAA -> F,
3 M. Z. Y* T7 Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ [2 c! G3 ?" P+ S. g$ rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 P. t3 x2 k7 I; Ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 S9 q! r' \1 u4 s- ]# zAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; n5 T& v6 t; [6 Q! tsimilar to bonds, CDs trading in the secondary market have different value at different times,& K6 x, t  K5 U
normally the value is calculated by adding it's principle and interest. 8 l* \% ^$ ?' t! H4 \/ v6 C
eg. the value of the mortgage+the interests to be recieved in the future. $ G0 Z# G' Z- O5 d; d3 J3 z# T: U( y4 Y
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.
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im not quite sure if the multiplier effect does really matter in this case.: k; c+ d. ^) j9 D
in stock market, it's the demand and supply pushing the price up/downwards.: v! x( G5 I# E$ M  Y
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," C+ C% ?' t& E% S2 u
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ n, b" [) ?+ K' O! |; `+ r/ mThe 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 c( H) Y' a: vbut 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
% c  S+ ]- K* O$ V* R/ v4 d* URefer to last example,/ \' G0 H2 A4 S0 s7 s8 T
that means bank A have no money because we borrow 10 dollars from bank A
7 M# G* Z9 S- J1 c3 @! sBecause bank A doesnt have enough cash on hand
' Q# U) c+ O9 L4 n* e, K) xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
  }% j8 o: Z+ V& s, [! Yso does it mean if E failed to pay D,
# H1 _  |$ g9 {3 R8 Fall 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,
+ X- P8 o# _# w  [/ l; s2 Y# ~in this case it doesnt really matter how much money is created,
6 o% |- o7 b% ^' Tit's the problem of the debt itself.
8 M- ]! `  z4 i: l0 [3 M. ]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, \1 M( H3 Z8 y0 v2 D
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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$ _* U. A! F, c2 n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
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Thanks

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那些根本係 紙上財富  
0 f/ G* N  S2 V' n- `. G  R1 s1 `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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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 T" A% E4 d+ X! F( {/ v) n- j9 Y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 K' W) w7 A* `4 u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* O' y- A( o1 o& G
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' ?# l, O' a2 b; P) E' N+ `
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 \( E1 p7 d8 @5 E/ f8 ]+ y% ]* x2 x
計番回報率就已經係50%,所以可以好好賺
9 _# B' r3 B  E前提係銀行之間要互相信任先可以咁樣借法
  W# l& c# V6 P9 ?2 I; o1 P2 O6 [同埋個市場既前境要係好先得
8 L& A, P" B0 x" B# o! ]但當經濟一差,公司估值趺了,物價不升反趺5 b& i% B5 L- c9 g. r1 [3 x
例如剛才說10蚊的, 趺到得番9蚊,
' P& D/ e" G& S0 r' a* R/ B咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) [" h" m* e% A1 o, C( w, E' _
所以你就會覺得D錢好似蒸發哂咁
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( x8 E8 \: w/ k" I  I你都可以當標野咁諗, 個樣野多人可以狂升值,
8 N# C+ K& o4 Z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,
3 f6 x; O, l+ n# D1 B9 t淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . R8 a4 x3 ]* r5 V' T* l+ f
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
2 c4 H0 l! o3 c! v* k4 k, B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.gif7 O; h" S: s3 V2 p& h' N% N
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 r8 C, F4 J. f, \. H4 O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! t5 D: F9 a" r4 e  b* \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2 v% ^, ?4 \$ \# Q1 V/ ?& ?
咁你話d錢蒸發左去邊? ...

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" V7 Y. X1 y7 Q: v" |! C) Q( e4 v3 P正係咁樣7 ^" f" ~: H& \+ N
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4 |: ]3 P4 J  o' }
分分鐘佢地唔使還錢2 M! O# |1 S% o* _% I5 i

* s# O) o# C4 y$ i+ b* M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,' T* ]. }9 n# I) t  r
連國家都係問人借, 不停發債券, 印鈔票" `5 B$ ~' f; P' r$ y
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ c) W! y5 g8 w. U6 w5 c
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# w; d6 K1 j0 A  _
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% Z7 c7 u; a- B% Y其實係...
3 x2 D& @3 O8 k+ r/ C9 Y因為以前未生產, 先消費
+ O8 H4 S" P9 x$ Y而家就要多生產, 少消費