0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. l( P% O, k+ AWhy bank will sell 借據給第三者???8 d& ]" E! L% l$ m  f5 h
I was so confused.....

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8 s( R/ y5 G. L) q% b+ s3 I講到尾都係賺錢
+ G1 Q# c3 U5 K  N  b( xso銀行可以不斷放款; ?3 |& @+ r* c7 m" [& U
美國的房貸問題散佈到全世界* {+ t& o: `$ L1 e1 ^

9 x7 [! a1 I% cmortgage loan & U- Z" ]* q& \5 A
>conduit% h, y" y2 b+ a) A; g* _9 i
>RMBS(Residential Mortgage Backed Securities)2 [3 B7 }8 J! j/ X# m
>arranger
7 s! g, S3 L; l8 U; E>CDO(Collateralized Debt Obligation)& ?8 A3 H2 K2 k% m1 |
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 I: {+ c( G: e, ^% u' n) c4 |CDs could have different ratings, AAA -> F,8 z( ]5 ?2 [5 \& @5 f
more risky ones would have higher premium (interest rate) as a compensation for an investment.
$ X: |1 g' j4 f5 g1 _main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 C( [: T* _: ]3 t5 Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, U  l5 V9 X6 G& k" h4 P. \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) ?5 W7 H+ O, I! V5 F
similar to bonds, CDs trading in the secondary market have different value at different times,
3 l) v/ Y; B9 ~+ X5 x) ^normally the value is calculated by adding it's principle and interest.
8 L. e# N( M: {, a) Ueg. the value of the mortgage+the interests to be recieved in the future. ( Z  m1 W0 L0 l& X2 A  @( e' a
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.; b. @5 i6 V+ F+ Z, h

  }) F. _* d* t& }im not quite sure if the multiplier effect does really matter in this case.* ^: m  Y# |# \1 n' X; i* [
in stock market, it's the demand and supply pushing the price up/downwards.
9 p/ x2 T  h/ n* Z2 `' X' {) }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; z) ]& i. |7 h! L7 @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) j: O5 x8 Q$ L7 G
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. $ T6 T0 `# i$ I: S6 `2 t" K
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; F  I) ~- J1 w1 Q2 J4 H
Refer to last example,! x+ ]+ p2 p0 x5 F, Y
that means bank A have no money because we borrow 10 dollars from bank A / u  H" `6 n) y# j( N+ d" i
Because bank A doesnt have enough cash on hand
2 d# l; W- Z8 Q5 O% @0 Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 v8 C/ P% i: yA->B->C->D->E
2 S% L" {& z. K) X* n+ e8 pso does it mean if E failed to pay D,
. d' Y0 u* W' g/ v3 d5 ball the B,C,D,E have to go bankrupt?, \* g$ d4 _7 ]0 K

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the multiplier just tell how much money created in a whole economy, + w: |" K* J& K" x: _: h( _
in this case it doesnt really matter how much money is created,
. ?8 Y, Z0 J' dit's the problem of the debt itself.
9 O$ D/ c6 o3 i- u7 Pthe 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/ W2 b+ m, t" z+ H, {
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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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0 L. g/ f  Y1 e- q, q5 R, X6 G4 [

# w7 k7 d5 o' q# s# z+ O, BThanks

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那些根本係 紙上財富  
* y' Q3 g* ?, v0 `0 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
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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' C. l" Q( F. f2 \
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( @, h0 n/ R( s! p( w7 C9 s# W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
, c/ L& C8 Z2 d1 \0 `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& s2 h/ ]9 {) @# F! V3 z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! ^* i1 R+ c- E  m5 J. n( G計番回報率就已經係50%,所以可以好好賺
3 I# G) ~9 \1 S9 }2 G* y  a& G前提係銀行之間要互相信任先可以咁樣借法
4 s) x9 r5 Z) e- }3 D, M: H同埋個市場既前境要係好先得
6 D! K5 c) {9 J. A" D3 P  }7 F但當經濟一差,公司估值趺了,物價不升反趺# R& Q/ O3 q9 s/ ]# R7 q- ~
例如剛才說10蚊的, 趺到得番9蚊, 0 a  E! Y3 K6 x+ x* B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 U0 ?* _5 D, D1 K& C2 c
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,
" h7 G4 B$ R1 v4 N) t" ~/ I/ u7 i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, ( r1 q1 R- p: y" _7 L1 j! U( ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' w# Q  D9 d4 G6 \: I8 @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, i) I$ B8 k/ X; ]. C
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( Y7 G, a; ?; `: z0 X7 [2 U. T' d( R: J
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( u5 f: A8 H& m- N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 m7 ]3 T! g& R5 Q% m; {1 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
  M2 U* S3 I" N; b咁你話d錢蒸發左去邊? ...

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正係咁樣
, Z$ {( W2 _5 H4 V( r, M4 g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' Q! R, x5 x! J; T' x5 K! h4 j
分分鐘佢地唔使還錢
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% _* @9 z- l' l' F! D+ ?8 s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,% o, e  m9 D4 M
連國家都係問人借, 不停發債券, 印鈔票+ G+ ]7 M9 P2 S; `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" w, B6 r4 Z9 o. r, K7 D8 X- x- B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* I1 ^9 h  T& H' Q% f* A* o; ?) }
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; H9 X; l- H( y; g  Z其實係...! n  E% _1 |, y9 I5 O
因為以前未生產, 先消費
/ V# |% c6 f. Z% x7 ]" g而家就要多生產, 少消費