0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- |$ z9 ]3 i4 QWhy bank will sell 借據給第三者???
% O/ X4 k6 H1 l- T$ ~- X& ^. fI was so confused.....

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講到尾都係賺錢" n9 M% @8 ^! p8 w9 E
so銀行可以不斷放款, A& e6 O  \( d+ j& ?( ]( A
美國的房貸問題散佈到全世界
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9 y. O7 f+ Q/ z2 \mortgage loan ; Y! h. q' W7 ]
>conduit
4 U# [: e0 e( O/ y* }2 ?( q. f>RMBS(Residential Mortgage Backed Securities)
5 Z6 o5 }" i4 j( p% I! V6 S>arranger! m* @8 P8 @2 W6 P5 D  o3 U
>CDO(Collateralized Debt Obligation)
+ G/ l4 q+ T: j3 ]最後去到投資者

Kev

i thought it is the reason of rate of return.5 Z/ t3 A& J$ f; o- }6 l" V, b7 H* ?
CDs could have different ratings, AAA -> F,
( C) P; V: K5 f8 cmore risky ones would have higher premium (interest rate) as a compensation for an investment.3 |( V# p( J* B3 |- E5 m
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& O  Q  H. \+ G& \
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 M2 g8 }4 c5 n4 |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# c( v2 t4 G- M' v- i& f
similar to bonds, CDs trading in the secondary market have different value at different times,
" b- P/ f9 @: T5 i" i  ^1 Onormally the value is calculated by adding it's principle and interest.
7 v9 B, [) j8 c+ ~# seg. the value of the mortgage+the interests to be recieved in the future.
( E  ]9 R+ h: @0 `* s- H3 fbanks 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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  |) R+ T! \( I/ W3 L& F/ Iim not quite sure if the multiplier effect does really matter in this case.
2 [1 N4 \# A8 hin stock market, it's the demand and supply pushing the price up/downwards.; x  `$ y5 ~: @8 B) _1 V/ {5 ^  R
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  i# }/ ]# v- n) N  L( z/ hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 `; I4 V% p1 `! ~/ x# c
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. - b% c9 J/ o; O; O$ y
but the value of their assets did really drop significantly.
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$ I# a$ P% g3 y  k7 @* y1 f3 b2 g[ 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.gif7 O; E* b5 S8 r- t, \8 a
Refer to last example,6 y+ P5 Q* h5 T- D, k- T7 f
that means bank A have no money because we borrow 10 dollars from bank A 7 I" Z; {) M8 M+ K
Because bank A doesnt have enough cash on hand
. K8 |  g9 n& Q: u/ X, _: gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E9 p, `2 d7 H; V7 U$ S
so does it mean if E failed to pay D,
- R1 V' x- ~0 y% aall the B,C,D,E have to go bankrupt?1 W% K, q  m* {. m

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the multiplier just tell how much money created in a whole economy,
& J. S/ V( W5 D2 k; Y/ [in this case it doesnt really matter how much money is created,   o' C, J  a5 x; c
it's the problem of the debt itself.* n+ F2 F! w; 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
2 `( a, y% F/ [3 V) ]* [小弟一直都唔明...
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+ j  ^3 {. k8 f1 z5 b) c全世界都蝕錢，咁邊個賺緊錢呢?4 i) S( s7 [! U6 y% E( y7 z' {* h# S) k

( e) f- x* O" h. Q" Q無可能淨係有人蝕錢無人賺架嘛...4 y' {( r. O. Y/ j7 l4 a( K: r
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敬請各師兄解答
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% u" P4 V& x& f: a, HThanks

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那些根本係 紙上財富  ; U% b" c0 y9 H8 G- g
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4 P7 J& \; z0 `8 E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. ^' p# }# I# V' x) Y! W9 N. f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: L  Y% D0 G; e+ `. `
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) D- y5 S3 [: `8 g0 @0 L) `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ Q& u4 d- d7 K8 @- H% D
計番回報率就已經係50%,所以可以好好賺' C& B8 z7 z8 o! A* U
前提係銀行之間要互相信任先可以咁樣借法
. \4 [/ h. F" R同埋個市場既前境要係好先得- U* E- u/ M. U) R: d/ {
但當經濟一差,公司估值趺了,物價不升反趺" S, d. O5 q  a$ R% k* ~
例如剛才說10蚊的, 趺到得番9蚊,
$ A+ O; j' }. N; c2 r咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% X/ _8 c$ _; ~! z' N! _$ ~" t
所以你就會覺得D錢好似蒸發哂咁1 E; n. {2 g; L; g% p
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你都可以當標野咁諗, 個樣野多人可以狂升值, , P% P" q' m# g5 Q: n- d
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, , T) `$ v) b) ]* m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 d+ H' f  x- R) w) 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6 j" I% v1 K9 y, I( Z- `. t( A
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
! E: x4 ~, v: C唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 I0 T0 [5 }. H4 X0 i9 [2 A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" w8 u( a$ q% U$ O* @4 Y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 g( B) D0 b9 F4 x9 N- U1 n
咁你話d錢蒸發左去邊? ...

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正係咁樣5 {) j4 Z5 v2 u' _+ E) J3 T1 i+ ~
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/ F/ ^& \, E  ^9 X' }
分分鐘佢地唔使還錢* Z' y( o" w8 p/ d/ x

0 G/ r, x" \; |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,
0 H3 D9 |4 ^" |4 A; M; y連國家都係問人借, 不停發債券, 印鈔票' h3 L, W% Z& l7 Z( V% t8 ^+ [0 ~
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 z* M4 r( H* q4 M2 |
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
8 C) X  e2 Y1 k7 C$ a- }. ]+ J咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ W6 F6 f8 c; y- Y( m其實係..." d0 I) @6 @: E6 S( i  v
因為以前未生產, 先消費; T: }' k5 O! C" g- Q% M
而家就要多生產, 少消費