0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 d- a  l. B& F! t: fWhy bank will sell 借據給第三者???
, s7 H2 o( U) D' ]; NI was so confused.....

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講到尾都係賺錢
1 |1 A2 A, o& zso銀行可以不斷放款3 O  p% {8 ?  l6 F+ n
美國的房貸問題散佈到全世界
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% e/ N0 |1 {+ a# b9 c7 Z4 Ymortgage loan
  n* V% t& _4 h5 C4 ^2 H>conduit' c& f1 Y6 g8 I5 y, O/ `1 P) y
>RMBS(Residential Mortgage Backed Securities)0 ]& a4 G/ S8 X  r, b& z' \
>arranger
) T  i7 C; A0 p$ \4 @# [>CDO(Collateralized Debt Obligation)" G. U) k4 T% m
最後去到投資者

Kev

i thought it is the reason of rate of return.
% t1 f5 R2 j( c8 ~8 V9 dCDs could have different ratings, AAA -> F,
1 V, I; o* E' |) vmore risky ones would have higher premium (interest rate) as a compensation for an investment.: v' H% J8 k" s# s7 ^/ ?7 S
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& F+ w! k4 H) Oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 c  y! {* u- w, o& UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, i# D& x5 s4 s/ esimilar to bonds, CDs trading in the secondary market have different value at different times,
# J1 Z" \) M; X4 |* M% vnormally the value is calculated by adding it's principle and interest.
* U( N, `# |% l; a' |9 w: k0 d% geg. the value of the mortgage+the interests to be recieved in the future. $ F1 T9 a  ]# Z: S- i1 }, ^/ O4 G+ V
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.( C5 O) k8 c/ b$ I' z/ K: S% \

% B* j: z# q; R. S8 qim not quite sure if the multiplier effect does really matter in this case.
6 U+ w/ n4 d& W7 Gin stock market, it's the demand and supply pushing the price up/downwards.
  F* [: W3 t6 P, |% qFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 j, k3 u( v) E6 PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 z, P* D+ o+ Y( _* Y
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.
. l( _1 W$ v1 {+ i3 C: wbut 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
  B3 H9 [3 g% z+ c; rRefer to last example,- }0 q* z+ L0 }7 m  d9 v9 ]5 `
that means bank A have no money because we borrow 10 dollars from bank A
; K. a5 k0 _/ ]( v2 UBecause bank A doesnt have enough cash on hand
$ [6 m/ `- {& Ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  v6 P- N  ]8 D( CA->B->C->D->E
; {' D# P' n" ?% B, l# @so does it mean if E failed to pay D, / I: v6 s! C: i$ r8 o: G7 q
all 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, # W- {; u. @" v& ^( ]6 E
in this case it doesnt really matter how much money is created,
* U& d" q( b2 G! uit's the problem of the debt itself.
; Y% T: Z4 ?! K( Jthe 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.gif6 \# G# q9 Y. E+ g  s; Q  p- `, R3 e3 d/ \
小弟一直都唔明...5 A' q2 b: P9 `4 T6 y1 H. x

6 a) f8 X2 k( `! t* O1 T全世界都蝕錢，咁邊個賺緊錢呢?
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. Z5 w& ~4 `1 j) F' T) c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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8 h" z  Y9 C" P/ O. ?Thanks

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那些根本係 紙上財富  + q- h, _' }$ X+ ]2 A
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) ^: T+ B# C9 B
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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& T. Y% l6 d% |, V& z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# d" v% C7 L5 f, X5 V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! u0 T. e4 ~( E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 I' o1 t# H' d- d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) r+ M6 e+ V- W" u$ t+ E0 m9 t: Z
計番回報率就已經係50%,所以可以好好賺
& {+ I9 S. ~" g  f- u& `8 Y前提係銀行之間要互相信任先可以咁樣借法' _2 }" {6 h. j
同埋個市場既前境要係好先得$ }% a! Z. q) R& u# o" Z
但當經濟一差,公司估值趺了,物價不升反趺
* \0 m( s! D# a: D# X3 m0 q例如剛才說10蚊的, 趺到得番9蚊, % @5 c9 q6 v# f5 m1 ~1 q# m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: d( o4 d, @: [* \- @7 |3 [
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, % S3 r( P6 f) L+ _2 @
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, ' u6 n0 p- L6 J0 w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 y* I  O7 y2 p2 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1 Q1 J/ w6 k% X* X1 h+ J" ~
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.gif8 b: U5 T2 }3 b. D" Z; k- y
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, N% w- `$ ^0 @# z% U; G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% g+ Z2 V7 C7 d  N3 ^- L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8 g6 y% [# S/ I0 L" U5 N/ r
咁你話d錢蒸發左去邊? ...

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正係咁樣
: ~8 K& E3 f. U% G$ C/ X4 P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
& h* l1 p1 U9 M, \: u分分鐘佢地唔使還錢' a1 g6 s  ]& }; k
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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,
" l1 h" A4 O4 D5 v5 b& C連國家都係問人借, 不停發債券, 印鈔票
" U4 o% m4 ^8 d. J0 ~一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" @% K% U8 ~0 |* P6 ]
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.gif3 Z+ Y4 b3 J" V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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* N+ K* L" Y2 O4 j% ^其實係...
5 H' b1 }- X2 U3 Y因為以前未生產, 先消費
; T' @* ]* P, U; @/ q" u2 E/ T而家就要多生產, 少消費