0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 `/ s2 Q5 U! f' ~4 o$ V, GWhy bank will sell 借據給第三者???
8 k4 G' c% h- J; I9 [/ ^# QI was so confused.....

) o, ?6 c/ X2 a: h: Q2 j+ x
& W  ^4 w% z% w
講到尾都係賺錢/ ]$ R. z6 M6 l  ^! X" o# L8 V$ i, k" F, x
so銀行可以不斷放款
$ L2 L9 J( X5 o2 X2 [) G美國的房貸問題散佈到全世界
) F' G7 B8 A' Q! d, d
" P" J& U7 P) N0 q$ C  s6 E9 Rmortgage loan % U+ B1 i6 G7 x. _1 _& \
>conduit# M5 {, S3 G8 |# J; `. G
>RMBS(Residential Mortgage Backed Securities)) W+ u* y3 |# Y" k2 F$ A9 c
>arranger  i# H( \) F# J
>CDO(Collateralized Debt Obligation)% t3 U& |' i6 i1 I* _8 j8 a
最後去到投資者

Kev

i thought it is the reason of rate of return.& A5 N" r' d* D% X7 e3 P' `
CDs could have different ratings, AAA -> F,
  p" X9 Z" d6 i8 l6 T% g3 xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
5 Q7 c$ d% |" `  t' [) t0 Omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 I1 j" O$ p/ X( a. E# P1 v
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) f1 C, ?0 A6 J. J  @0 d
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 Q- _2 J; J* R+ z# ysimilar to bonds, CDs trading in the secondary market have different value at different times,* w! a: e* t4 v+ C
normally the value is calculated by adding it's principle and interest.
7 S! D! R& r, q! r% s, Qeg. the value of the mortgage+the interests to be recieved in the future.
; N% `% n6 w. ?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.
# n, O3 T3 e* ?# n- b6 c5 [  z2 Q# E8 W
im not quite sure if the multiplier effect does really matter in this case.
, L6 T( m  |1 x* Hin stock market, it's the demand and supply pushing the price up/downwards.
, t2 Q4 m7 B1 {/ F# B+ LFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, I( @2 Q" z9 J5 w( IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. r  v! Y9 T' J7 }
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.
+ N, P+ E1 s' L/ W: |but the value of their assets did really drop significantly.
7 M5 T& \2 o* U9 Y8 H# c+ x, a, n1 k. z' f
[ 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.gif2 X+ N  D9 A7 w
Refer to last example,
9 s8 ~# J0 F9 Y% B! uthat means bank A have no money because we borrow 10 dollars from bank A
1 L7 ]' S: s. U7 `Because bank A doesnt have enough cash on hand
7 F5 n( A  }! i8 n% I9 ?4 B' R! Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

' |: \2 f: ]& L! v
: Z% J4 ?* N% @; \3 K* J( T

2 ~5 s, O2 |* o2 i7 SA->B->C->D->E. [8 a3 G* n* X' g+ f
so does it mean if E failed to pay D,
5 `3 V2 a) B6 _8 s9 Q, G; Xall the B,C,D,E have to go bankrupt?
6 @1 o7 b2 q; K+ F* E; ]' G- l/ _1 k2 S2 w1 ?$ Y- N) {

, I4 ^0 B. A- f7 ethe multiplier just tell how much money created in a whole economy, 2 @5 G* z; ]: A
in this case it doesnt really matter how much money is created, 6 m' ?/ W% X0 n3 L
it's the problem of the debt itself.4 L2 R4 B- M, B$ a4 T8 b
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
; D7 j9 Q; [# ~* ?5 ?  N! }- z小弟一直都唔明...( _2 _" s2 I# @( U( ?

3 `/ _- m( }+ {9 b  K, w9 t- k全世界都蝕錢，咁邊個賺緊錢呢?* D3 e+ I0 f$ G* M9 X. _* P8 i5 r: ?* V

$ p; i* @! f: q: R. |7 J無可能淨係有人蝕錢無人賺架嘛...
3 P5 \/ x$ J; _+ A* J4 O" G7 Z: W' v0 s4 `; H
敬請各師兄解答- v% x) k( ~0 d9 |
4 E% \  j9 z, M7 l/ R/ b$ u
Thanks

9 v! ?# B# z& [( q0 ]; |那些根本係 紙上財富  
$ D) s9 o) v' o) H2 n9 r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
% l9 f5 |3 J' [- a) B1 u% \
  I/ E5 ~2 e* E. V7 i! t1 G( o) Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產* s5 |# Z2 b6 V2 T
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 `. _1 m* t" ^; V: K  M
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
0 Z3 c7 q: d( ^5 I個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ T* Q5 Y9 R  T5 Z$ Z- d/ h6 g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ N0 \7 D( J' y2 n2 l- R/ C& J
計番回報率就已經係50%,所以可以好好賺
9 I7 l# }8 v$ V3 A( H8 p前提係銀行之間要互相信任先可以咁樣借法3 |' l8 b  }" \( {
同埋個市場既前境要係好先得
9 ~% u% ~$ z. x  h但當經濟一差,公司估值趺了,物價不升反趺3 S3 o- h* N6 Y) A+ L9 n
例如剛才說10蚊的, 趺到得番9蚊, $ I# |6 q0 Y+ ?% h" ^! i
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 U4 M$ w6 Y, q
所以你就會覺得D錢好似蒸發哂咁
4 d3 n0 d3 Z$ l, t8 c9 U
$ x- v% |* x0 s) O5 d9 g你都可以當標野咁諗, 個樣野多人可以狂升值,
( U0 @) B4 o$ w; v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, / x5 U1 b+ z& `9 M) U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 _# [3 B; ~- P7 O) \4 K6 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5 t: V. z% d! z9 P$ i9 v, Z" s
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
$ L! P* ^  |6 E; H$ q; ~唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  s$ E& D6 a/ d$ V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & `% D/ r( Q$ N/ I  A& k, F9 ~4 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6 l7 f) {% c% o
咁你話d錢蒸發左去邊? ...

: `& ~' V* M& U: \
  ^6 L( l/ i8 H1 d. m. \; W2 s正係咁樣
% ?- b7 D  k6 x: e; ~/ e2 O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
- n7 `: {7 Y7 o3 }: \: p+ J# H分分鐘佢地唔使還錢
# Y' ]& b) r. a2 {* j! T0 K  l3 g) L9 q1 z" J* g( ^$ L6 K
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,* h+ S3 ]4 }* W9 m& Y8 {3 J& \+ s
連國家都係問人借, 不停發債券, 印鈔票
" s: f* W* J$ z% h% j# }" s0 f一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. t# J7 I& }0 `0 f9 ^4 F; s* l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' C- v2 W2 w! w. x3 {& y" a
咁而家"爆哂煲"算唔算先至係變番"正常"???

5 I7 g2 G3 Q6 _0 ^
9 l; q# t1 C' E
其實係...: A& a& V. H8 P/ n: W9 J
因為以前未生產, 先消費
8 |- p: G+ D! Z& X而家就要多生產, 少消費