0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; v2 k7 q/ h( y/ {* P
Why bank will sell 借據給第三者???$ x! K- J: ]. i" e
I was so confused.....

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% y; T7 K3 U+ G9 U# z) r  G講到尾都係賺錢/ i. G! I# l4 E: X* }; I2 x
so銀行可以不斷放款
# n" Y0 z( I% ^美國的房貸問題散佈到全世界
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mortgage loan / I; i! _; H- W
>conduit
. D5 @( n, y! @4 _5 j8 n3 M>RMBS(Residential Mortgage Backed Securities)
4 K" A  N- P8 S3 b& O9 W5 _>arranger
0 w) f1 D0 O9 E1 o. i$ r" j>CDO(Collateralized Debt Obligation)
2 f4 \, {( P% _/ r! p4 w最後去到投資者

Kev

i thought it is the reason of rate of return.! z( a. q5 d, }
CDs could have different ratings, AAA -> F,
- I- J! i4 _' ?1 O. Nmore risky ones would have higher premium (interest rate) as a compensation for an investment.1 K$ g1 k8 F& o% i( _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# i. w  R6 [7 B/ C- S3 O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- f/ m& k5 {6 w2 a( [* x6 sAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 Y. g; L( K1 Q0 I# @. z
similar to bonds, CDs trading in the secondary market have different value at different times,
( t& J* j/ G# v3 p! \7 g% @normally the value is calculated by adding it's principle and interest. # D- K8 c* x3 a& j% h
eg. the value of the mortgage+the interests to be recieved in the future.
  W8 e7 z: M5 e4 D# e7 J( @% Ebanks 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.. G7 m7 m- g7 e7 z

! q/ Y6 \$ e7 V  v; Q( cim not quite sure if the multiplier effect does really matter in this case.
5 r' ^7 s5 e9 U6 D+ F" w3 cin stock market, it's the demand and supply pushing the price up/downwards.
- D  ~. z' ~8 ~) P) }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; l1 B4 D' L+ U# d4 nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; N/ E) F8 h5 d8 Y3 \
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. 2 R0 n6 D0 i; ~+ o! j; \- h
but the value of their assets did really drop significantly.1 o4 z' g7 W' u; j- D8 h% d

- `: C6 H& Y  z  l' Q( o: v[ 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
% E) |. u; @# V; N/ R0 n+ z; Z! h% GRefer to last example,
/ a6 `2 y  L0 ?# wthat means bank A have no money because we borrow 10 dollars from bank A ! h) l/ ~' t2 Q& U
Because bank A doesnt have enough cash on hand & s0 d3 k/ H1 h
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' [6 l9 b( k$ l9 S; ?# e+ Y  gA->B->C->D->E) m6 r9 @( W; m+ I  A
so does it mean if E failed to pay D,
# t; {8 j3 d* _/ h" Zall 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,
0 D6 }* U5 X- m, lin this case it doesnt really matter how much money is created,
% ^9 Z1 ]& e, `- w9 |it's the problem of the debt itself.: Y# K0 o/ g, F- Q+ V. `/ c
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
% q$ |% l  c- X小弟一直都唔明...
2 \# k, \8 z, O% r% @* f. q: B. ~, R! P
全世界都蝕錢，咁邊個賺緊錢呢?7 |5 A" `2 o! ~2 b% j# i. e* x
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無可能淨係有人蝕錢無人賺架嘛...
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+ T2 a, ?- |2 f' ^' M% @) I# w* _敬請各師兄解答
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8 U4 F+ G! i) r7 y# c2 m; GThanks

& ?0 J* l' |3 t& Q% x, e那些根本係 紙上財富  ; @4 \8 \3 p, e9 X' f
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
, C6 _- j+ E% ^& D& {& ?9 ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! c3 P) N' w" N% D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
* m8 P" K1 s+ q+ j$ D個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* |% P+ r1 d8 l扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) U5 p( n$ Q  k: `4 B4 _7 y9 F計番回報率就已經係50%,所以可以好好賺9 \. z% Z6 s2 {* p6 X9 ~
前提係銀行之間要互相信任先可以咁樣借法8 s6 z: h0 J: E3 ^. j* P6 U7 O
同埋個市場既前境要係好先得- N. ~# q8 e$ e/ s( E
但當經濟一差,公司估值趺了,物價不升反趺* [' m1 I  p/ l+ l$ q; Q9 S/ u
例如剛才說10蚊的, 趺到得番9蚊, 2 j  s* I7 _$ V4 w0 P% t% T
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 \+ b3 a+ }0 _0 r所以你就會覺得D錢好似蒸發哂咁
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3 C8 R: X+ J5 @: V! M你都可以當標野咁諗, 個樣野多人可以狂升值, - _, H1 F. ?1 s: @9 b
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,   M; y, _1 V* {) N  ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 Z5 g+ g& B4 ?. X% h
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& a+ U( O& H0 k# |/ `1 i, X& u
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 i8 n9 U) e3 V唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 _# C( r5 Z! z5 D8 y+ @; R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 g: O( h* Z4 x' {- M- H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 K5 h: [/ w7 W# ^, \, Q咁你話d錢蒸發左去邊? ...

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正係咁樣
* ^! s1 l0 s7 Y3 [$ M+ e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
$ [7 p- J7 I* M& ~9 r% f) s分分鐘佢地唔使還錢2 G( |* K" ]1 I4 P8 q

8 ]8 G) {& P9 c# l2 z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,
9 E$ n, T' q/ o$ y) u+ P& k5 b連國家都係問人借, 不停發債券, 印鈔票. b. S5 {+ k  w) T. J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! h: h6 F1 T; \0 |5 |/ r; o6 @8 c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 l. [2 H' Q4 j$ M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...0 p' Z" F* ]  J# [
因為以前未生產, 先消費
7 x2 q! Z7 [& ^而家就要多生產, 少消費