0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 t/ y* b7 J% Z+ m  |$ y
Why bank will sell 借據給第三者???! Q2 ^  q3 i8 V6 F$ s0 b
I was so confused.....

9 [1 m1 t- X, R! f8 g" Y
3 M2 _. e% q* U8 t講到尾都係賺錢
- _. \) R# G5 L3 A3 F' zso銀行可以不斷放款
: l/ j& `; i! n$ Y$ ]美國的房貸問題散佈到全世界, d' G% P- T8 u4 O/ d

" y& @: a# ]2 @/ F" S, ?2 h/ Jmortgage loan
, X& G6 x/ W  g+ y>conduit# n/ I" O7 {/ X2 a0 c& S
>RMBS(Residential Mortgage Backed Securities)
! D0 y4 ^4 t, y0 R& f; A7 H>arranger( k& g4 F1 p+ W  ^+ N- l
>CDO(Collateralized Debt Obligation)
8 P1 d5 \* f' i* g+ c8 m* Y% w最後去到投資者

Kev

i thought it is the reason of rate of return.* K" [) K( Z0 D( y) o0 ~/ [
CDs could have different ratings, AAA -> F,5 I/ Y& c- Y2 i3 b& Z6 t8 \( K
more risky ones would have higher premium (interest rate) as a compensation for an investment.
! L1 Q+ A8 z( O# x$ A2 {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% c( ^7 [2 V7 R% |/ Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. k- \; h* u, n+ U, m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) n' ]$ n0 a* ^+ u! ~! {. }2 ^
similar to bonds, CDs trading in the secondary market have different value at different times,
8 N0 j6 v8 |0 p& }7 Unormally the value is calculated by adding it's principle and interest. 6 Y& R: h4 Q6 k: d% [
eg. the value of the mortgage+the interests to be recieved in the future.
3 ^% f3 q; f$ ~. C3 p' l# lbanks 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.
  |$ Z* t) y* \/ H6 _4 j; ~6 G0 d: v1 v0 G
im not quite sure if the multiplier effect does really matter in this case.
7 t5 s& F  [# D+ j5 uin stock market, it's the demand and supply pushing the price up/downwards.
, a+ Y3 K9 I* n# w! Y2 l" g1 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: |0 b( F* P( R- t: P% r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 J" I8 o! v6 X6 o# K3 oThe 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. ' x1 H. ^9 t& L: T
but the value of their assets did really drop significantly.
/ m! D5 @2 V$ ^
/ {& R3 c/ A+ C$ A[ 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
1 k0 B$ x4 K- x7 R2 RRefer to last example,7 g+ |1 [1 P; g
that means bank A have no money because we borrow 10 dollars from bank A ; G# n; A$ ], }/ r8 |3 a
Because bank A doesnt have enough cash on hand
( u  [/ v$ ?& N% @7 [therefore bank A need to be bankrrupt ??? Am I right ?? ...

  f+ \6 o/ ], j1 K% p' S1 t0 p0 Y8 y7 x8 V

) B6 T) p, j' MA->B->C->D->E
: _% m, s) ^6 t* W7 Oso does it mean if E failed to pay D, $ L! J/ O4 v! K0 L$ s& J* L' n
all the B,C,D,E have to go bankrupt?9 J+ X1 I- R) y7 A
! C: ~- k7 o- _' G3 w' p# i

" p2 l6 F5 D/ _1 Uthe multiplier just tell how much money created in a whole economy,
' S; E$ h. Y- |- o& i. h+ ain this case it doesnt really matter how much money is created, 9 {1 U/ G! I' U' M, @
it's the problem of the debt itself.7 O% p( C' s- U6 d# A9 T1 A
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
; J8 `" f5 \6 b/ U小弟一直都唔明...
' E2 Y. x' _$ J: H& S- X% Y4 }( j0 F9 B" X& W
全世界都蝕錢，咁邊個賺緊錢呢?
7 e9 k; X) W: k6 l- ~' `* W# X
% T$ m& _% ]5 [$ w+ Z" ]/ \無可能淨係有人蝕錢無人賺架嘛...  m' V& F- s" u2 s
9 P. o2 s! N9 `% H
敬請各師兄解答/ ~2 V& u& P! z: G
, v: T3 E, h" ?. B' Y+ U# w
Thanks

" X2 p( a' ~! K$ G5 k# u* s
那些根本係 紙上財富  2 S2 h$ q- ]! O2 E, j  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 graphic5 y7 _8 n! m  d/ Z" Z9 x/ i7 F/ K

% e+ H1 _2 e. W- dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 B: H" [" I" v9 p5 f% P. c* E5 h當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" T' W: w8 O+ [
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
% W( \' h' Q" S) g5 U$ T( D個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  f! w8 B( ]- y) V; }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& e2 S# I3 v! M3 z2 k6 M( z# j! C. r. Q
計番回報率就已經係50%,所以可以好好賺
2 t. {# }( }5 X% c! M$ ]) p* ]前提係銀行之間要互相信任先可以咁樣借法9 I: ]6 E9 \' |: O. \4 \
同埋個市場既前境要係好先得
# W7 w, J: V- w7 Z  Y但當經濟一差,公司估值趺了,物價不升反趺
5 N" A% [; s0 C例如剛才說10蚊的, 趺到得番9蚊, " `  a: @( S& Y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ m6 i, A2 z) }: Q5 N
所以你就會覺得D錢好似蒸發哂咁
+ {2 E' V# }$ `: C6 D  e3 T+ ^  k3 ]2 I) M, S4 b/ I
你都可以當標野咁諗, 個樣野多人可以狂升值, 5 d) R' `" m$ _' E( h8 @
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, 9 W$ m0 b0 d. o- M6 [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ a1 c( n$ l1 ~  ~; Z! C' w; A
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
# T! O- Q0 x& P2 p, E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
7 C: l5 X9 y1 U/ P( U3 ^7 d唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 F) C" T$ g5 l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) }6 I8 O" C* w, d" X) B4 N5 v6 k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
1 \7 A# G2 g2 N咁你話d錢蒸發左去邊? ...

7 }4 w# G+ }. Z* ?

$ ]2 [+ v! L0 V* A0 \正係咁樣
0 h6 R. k3 Y+ v: ~0 f: C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
) S( [2 D! [7 ^: B! U$ d分分鐘佢地唔使還錢- c( {' X% N6 x6 v3 `, Y
# n/ G1 m# |1 O" ~& C5 a
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,
& d0 F) m4 c$ R+ `% }1 M, v連國家都係問人借, 不停發債券, 印鈔票
0 s; r" u. w1 c3 {0 P' n7 g/ d一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) T; V  R: r6 _0 d/ M8 E
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$ m5 g# m8 W+ ?  K" @) V9 Y
咁而家"爆哂煲"算唔算先至係變番"正常"???

; w+ n+ P/ r0 U6 o# J1 \# O, g+ m9 U5 K3 e0 Y# K! p
其實係...
/ k" U- F* Q$ ?因為以前未生產, 先消費
0 u6 @1 p* r* b5 _; k而家就要多生產, 少消費