0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 n; L* g( z, J) j
Why bank will sell 借據給第三者???
; t8 d& d+ j+ ~% c$ x5 L& jI was so confused.....

3 ?9 |9 r' h& c: K5 l1 Z& o
$ Q8 W/ q8 @* l. l& [3 v講到尾都係賺錢- ^  ^  H7 |. T5 x
so銀行可以不斷放款
0 ^/ X5 p% \  _' c' p1 |美國的房貸問題散佈到全世界
' M: Y: O5 y2 |% L4 P1 n  D; _% h/ ?, C4 V1 F7 N
mortgage loan
4 T9 r6 a0 k" h7 [) n( m5 y" Z( S>conduit
. X# q$ x$ i0 q/ d>RMBS(Residential Mortgage Backed Securities): m1 }* ^) w- v
>arranger" }8 L/ K( E7 |# v) Y
>CDO(Collateralized Debt Obligation)
4 X+ Z, I  A# M/ [最後去到投資者

Kev

i thought it is the reason of rate of return.
! ?7 F5 n7 n  D; x% kCDs could have different ratings, AAA -> F,
  e. j4 z* z- T4 g; L0 W+ ^more risky ones would have higher premium (interest rate) as a compensation for an investment.* D# l6 o" Z' A  J# \$ h
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," W! L. K- e/ z  w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# T6 h9 Y. y% z2 }Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: `9 T1 {/ w0 [' R: Q- o+ J6 |
similar to bonds, CDs trading in the secondary market have different value at different times,
( v) i' ~# q& }0 V2 s' e* [normally the value is calculated by adding it's principle and interest. 2 j1 j* e* ?% \* [0 y' _/ Q1 n' \
eg. the value of the mortgage+the interests to be recieved in the future. ) Y5 K1 J! A$ M. W7 y6 p! `& k
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.
& f/ G/ S* j4 b% M9 |8 |, h5 r5 ?% C4 h+ N4 ]0 v
im not quite sure if the multiplier effect does really matter in this case.
2 ]/ {0 L# g# Z: |in stock market, it's the demand and supply pushing the price up/downwards.
* I8 w" w6 ^: l0 t0 o, f$ aFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ O- ]: o2 w# t  U1 x. w
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# X2 r- r9 p% `  H4 v! D: D+ b4 hThe 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. ) b9 C) f" [" L1 m9 I3 q
but the value of their assets did really drop significantly.
# K0 e) s1 ?- v, N# D! Y5 w  a: x7 I; f. Y5 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.gif
  N& z1 Q9 a. I; BRefer to last example,$ N+ B$ e! Q- m0 e% t% Z) A
that means bank A have no money because we borrow 10 dollars from bank A . I9 l; K$ ~: M& U  ?
Because bank A doesnt have enough cash on hand
- m3 |5 z4 N# h+ [therefore bank A need to be bankrrupt ??? Am I right ?? ...

& |9 E3 T7 J8 ]" q- [0 g* y

! u& J8 _" z6 o6 A- m/ m. F7 B
: ~0 ~" d+ E6 xA->B->C->D->E
2 n; a# s. h8 P: Qso does it mean if E failed to pay D,
  K9 W. Q" s4 u: u; c  o3 d0 Mall the B,C,D,E have to go bankrupt?. W( @) }  \7 f

! A7 W7 Y8 Z% C  a1 l. _! @, I( @
the multiplier just tell how much money created in a whole economy,
6 w: {( S2 E3 O8 Oin this case it doesnt really matter how much money is created, 0 s3 i( }$ O( t/ S
it's the problem of the debt itself.
" u0 k/ K: l4 ^& E& Rthe 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; p0 P4 d0 J* f: Q* S- x  C7 B
小弟一直都唔明...
8 B& Z0 W9 J" t1 b* N5 w7 ?9 q, E5 L9 C& R
全世界都蝕錢，咁邊個賺緊錢呢?! M. D+ g8 o  w/ `
7 q# {! J* {" c7 F
無可能淨係有人蝕錢無人賺架嘛...
  t/ r: q6 q0 \1 ^3 G+ k) u7 j; q; y1 j# _1 U
敬請各師兄解答
2 B0 }* C; h6 `" `
, j1 w/ m$ a4 M; E3 e/ RThanks

( ~3 d8 K: ]+ K: J那些根本係 紙上財富  
7 a0 [% h$ ^1 S7 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
0 t7 {6 |0 s. |
$ b5 G0 b5 Y0 T* C' L& Fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
6 O$ N1 u& p1 h. u: q- [: P# r當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ z( G# ~* L. u2 J% C2 y2 u
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9 d& t* u& I3 n
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, N& m2 R( R4 G% o8 x3 J8 }! m. `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: E$ \/ ]' ?0 Y0 a# a& ~4 W7 m計番回報率就已經係50%,所以可以好好賺
" y: ?" _6 ?6 T% b9 Q6 W% Q前提係銀行之間要互相信任先可以咁樣借法
5 |# K& h: v3 D. O3 z  _9 ^同埋個市場既前境要係好先得! R+ n( r; k* l$ p! o
但當經濟一差,公司估值趺了,物價不升反趺# E# e2 A" Y! M9 d# w0 g
例如剛才說10蚊的, 趺到得番9蚊, & Q, D( R! F, Q8 L
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* [8 }5 T4 O( L& I% f所以你就會覺得D錢好似蒸發哂咁
: t( d/ C3 d6 q. @& [4 I) m, {' G" y1 c+ m
你都可以當標野咁諗, 個樣野多人可以狂升值, , p) U% x) }, X- u9 a
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 s& m" g8 t! {) D. o5 @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 |. E$ S) [# s! M' 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
! J! E% U% {, Y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
  V6 \1 t, r- d+ f唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( T  d0 h- u0 F8 \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! S- x, W5 F& u4 ~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 L! v% r# Q& V/ L/ Y( N咁你話d錢蒸發左去邊? ...

9 V5 r. n  @$ t' K& }
7 v8 C# \. }+ k  a( s
正係咁樣
! H5 [) n' |# O1 ?5 U" d% g: P: t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 B7 w* @* ?( ~5 }0 e4 S分分鐘佢地唔使還錢* ?. L- R: v; Q9 Q( y

& @; _% ]9 t; Z* `4 U" ~  R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,
+ c# S- E5 K( b: B3 i連國家都係問人借, 不停發債券, 印鈔票
$ K( Z7 o% c. e6 X  H一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- V! l! W$ b. u1 Z  ?+ C) P3 R- Q( w
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& }5 V5 Y6 @( v! W1 l+ W; U
咁而家"爆哂煲"算唔算先至係變番"正常"???

9 e* ~! \( p% j& c5 |4 M( s5 c: G( y  v  l0 B; D# A
其實係...( K  I& m: Y. o2 n; `* s0 z( t# m/ z
因為以前未生產, 先消費; u# f# \+ Y' E2 O% x3 i+ v
而家就要多生產, 少消費