0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 b, Z/ e  H! e# y; \& M+ yWhy bank will sell 借據給第三者???
1 k- U! j, H0 v! U7 U' CI was so confused.....

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, _2 L) ]1 W+ D3 s9 I講到尾都係賺錢) G* d" e4 w; I% C
so銀行可以不斷放款0 j3 O/ p: W% ~8 Z8 E- v! [
美國的房貸問題散佈到全世界; ^; O" g! S" X1 I: [

# u0 j' J  Q+ P$ U3 F9 d; \mortgage loan
* _: G% y% Z3 k& K8 W& r2 O8 \# W' f- ~>conduit
# T& y! r  f. k* Z" k/ ]* e5 D>RMBS(Residential Mortgage Backed Securities)
( r: L7 [( _8 m9 ^& N; K7 c>arranger# y* C" w. b3 Q; J
>CDO(Collateralized Debt Obligation)% G" k$ b' B8 @4 @
最後去到投資者

Kev

i thought it is the reason of rate of return.: F& x* v. X' r% w5 Y) J5 f
CDs could have different ratings, AAA -> F,
; s4 ?5 L) }/ [6 nmore risky ones would have higher premium (interest rate) as a compensation for an investment.+ ]- z( e( k/ {
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! [8 s0 U% R: X5 @' m" P1 T
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 _6 [. o3 g; v# H& z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) o) s0 h, b+ W) W/ e/ K0 c
similar to bonds, CDs trading in the secondary market have different value at different times,
- y3 |! t' C( Z# N$ pnormally the value is calculated by adding it's principle and interest. . ^0 ?& V* F: V: _: _( J
eg. the value of the mortgage+the interests to be recieved in the future. ) O8 F# w# m5 e" B! |6 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.
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im not quite sure if the multiplier effect does really matter in this case.
4 \& N) ^: E! win stock market, it's the demand and supply pushing the price up/downwards.
5 L4 c2 O; w3 X5 ^, m! o8 g3 V5 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# w. \5 O3 G0 N2 U* R; x$ }; [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* ^# X) Y9 T  p/ \  O
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.
, D, h: C* V* y, o3 b. qbut 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
1 r  h' U* \8 N! }7 |! o1 ^Refer to last example,) R7 C% ~6 [7 ]( F& G( ]! H
that means bank A have no money because we borrow 10 dollars from bank A + p4 {" }! V: w: {
Because bank A doesnt have enough cash on hand . @0 u9 W( R  q4 V% E0 J- F+ L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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) g' e$ i+ b% o3 p9 RA->B->C->D->E
3 r1 ]- p' h( {( I' |' Z- Eso does it mean if E failed to pay D, ) e$ ^" e. T1 O& X
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( O1 n' {& s7 m& z
in this case it doesnt really matter how much money is created,
- \# o8 e. @* u- [# _- M% V1 Iit's the problem of the debt itself.
" f: s2 i' c8 `8 v, pthe 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.gif0 B$ k1 w& z* F& k4 }# X
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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) [& e& Q9 ?, i4 u8 u/ o無可能淨係有人蝕錢無人賺架嘛..." s& b) N0 ?# a8 \0 |
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敬請各師兄解答
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3 [2 H4 I7 |' r, l5 UThanks

! D/ @( M' _( u" {那些根本係 紙上財富  
3 \, i/ b: y! 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% l1 G$ R& r! u6 [

  |  O  `( [  j9 Mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
2 Z8 x' Q* w. @0 W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 j( r# f% J- Z! U" e8 B1 Z
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. `2 i; u! o# v8 ~+ J# J+ L
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 b$ G% h& Z+ Y5 f$ I. M4 g0 O( [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. L8 A: T' J; Y, i2 |$ o計番回報率就已經係50%,所以可以好好賺5 y- {; V4 f9 @/ [' L; E3 j  K. ?' {
前提係銀行之間要互相信任先可以咁樣借法) Z4 A- M1 o5 m) s( Y. g
同埋個市場既前境要係好先得! S% J: u( Q+ i& [5 C4 e6 j' ~$ f. b4 N
但當經濟一差,公司估值趺了,物價不升反趺
0 I. I% U1 _" A例如剛才說10蚊的, 趺到得番9蚊,
: R4 z, b4 `" x8 ]) }% P咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 |. v9 F$ ]1 s) ?3 Z3 I1 w% a所以你就會覺得D錢好似蒸發哂咁5 _" F$ T! U; j
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你都可以當標野咁諗, 個樣野多人可以狂升值, ) b& G) ^! d2 z3 m& y' Z
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,
4 t& w" X& D& _- D! y6 w) S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; Q' c) E5 k+ v2 a: v6 c5 W  I
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' B  O5 Z: C, f  x3 i( u$ l
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.gif7 o- m1 i% \; C$ B9 d
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) H: c8 J. W! I9 K9 u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( j/ b1 y+ G; `8 S* M5 u" s9 X, T, T
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
( \3 d" G0 T- m: ~, R+ l8 M% o咁你話d錢蒸發左去邊? ...

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3 S; ^4 T( M0 [/ g, k5 d* H' |' q正係咁樣, W; o! Y: n  m5 t5 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
4 D' |  P* B3 |, C分分鐘佢地唔使還錢
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9 R' b/ n0 l" T3 o0 n. z( G( N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,
- x7 p( X# N9 M* G0 H2 Y5 Q連國家都係問人借, 不停發債券, 印鈔票
5 F9 E- o# |8 o+ X4 i* ]一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% r2 ?6 o- X4 q' R5 Y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
1 I# L1 W  ?3 _5 c9 J0 I7 K咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...- L0 J# d9 |3 u2 x- |3 a
因為以前未生產, 先消費
0 J# w* P; A" T8 D' h而家就要多生產, 少消費