0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* Q/ H4 b$ ^* p; J, w! Q% vWhy bank will sell 借據給第三者???
' H; H( W, U( B5 m1 v; VI was so confused.....

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0 w* Y4 c# E( Z講到尾都係賺錢
1 b0 I  w) s3 ]9 w; d9 tso銀行可以不斷放款
+ H) }* Q, ~' E& `5 B$ X美國的房貸問題散佈到全世界. G0 C9 ]# m; ~! j8 T9 \
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mortgage loan
+ [6 X$ I5 t0 ?, q9 R>conduit. o" W' E$ Q$ j' o
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation); d0 T  _) P5 p/ S& k* t
最後去到投資者

Kev

i thought it is the reason of rate of return.+ w, `( f9 o$ p. e+ T
CDs could have different ratings, AAA -> F,5 M" D# u" U: _! `0 H% d8 E
more risky ones would have higher premium (interest rate) as a compensation for an investment.
; ?+ r' b1 G+ C1 L# G' Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' h' D: F1 {. U' V0 T7 A
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ n3 |# `" ^2 X, G. ^. \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 a4 y# w$ [8 b& }8 i5 t
similar to bonds, CDs trading in the secondary market have different value at different times,
( I$ \; V7 I" q1 b: ^  `normally the value is calculated by adding it's principle and interest. 8 t1 c  {- p$ a" ^+ a$ l
eg. the value of the mortgage+the interests to be recieved in the future.
( s7 h4 ]2 w9 b* f4 D9 pbanks 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.( r9 j, U  W) K# A3 y* M" E
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im not quite sure if the multiplier effect does really matter in this case.5 q! B& e9 y. Y6 L) S0 U
in stock market, it's the demand and supply pushing the price up/downwards.% F  C! Q- l" j& Q0 y' F1 g* O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" D& o6 c, X+ r+ q: i; M4 i. B+ yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ f. b7 E# t5 y* tThe 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. ; [" y- Y) ^4 Y0 d
but the value of their assets did really drop significantly.3 y1 E1 ?: V! G8 _2 a
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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# X$ f0 F1 o2 R; m* h& I
Refer to last example,
; u. b# r5 @, X& g8 ~that means bank A have no money because we borrow 10 dollars from bank A - J9 `  k6 u! ^. }
Because bank A doesnt have enough cash on hand ! H! C8 ]+ B- ~  \$ |
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E6 q' s( ]+ i2 I6 a* u
so does it mean if E failed to pay D, 0 I. P/ j# S/ `, I
all the B,C,D,E have to go bankrupt?
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9 C5 ]- Z+ b  i& q  f/ Cthe multiplier just tell how much money created in a whole economy, * S: N8 V. P, ~# K
in this case it doesnt really matter how much money is created, 3 w5 A. M6 q% O) V- I+ Y6 ?; ~
it's the problem of the debt itself.
% `& f4 |" _& F. B# ^2 s" Cthe 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.gif8 h4 r5 t8 C0 G3 z
小弟一直都唔明...$ ?. r( T+ Q- {- P) m$ [& y9 j: L8 J
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全世界都蝕錢，咁邊個賺緊錢呢?6 w1 \5 J6 R& t: C

# e7 O& B8 g7 b無可能淨係有人蝕錢無人賺架嘛...
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* Z- H# e* E( Q3 r敬請各師兄解答; b: [9 s% l+ M, E/ F6 M% Z' p
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Thanks

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那些根本係 紙上財富  8 \  F6 O$ a; S3 n5 w0 p: L4 [
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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# ~, ?) D5 K% ?) a! O+ K; X) B; o# Qhttp://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 ]: d/ H* J8 w8 h6 Z# S6 c0 }
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 k; X+ V* F$ |
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
% r' Z, {, B! R( p' |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! [! p2 U7 t$ h) X* B6 {# y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  R' e1 e& U9 I) \/ z: B
計番回報率就已經係50%,所以可以好好賺/ E, o8 r. V& E  h2 `+ O
前提係銀行之間要互相信任先可以咁樣借法$ v( n+ j1 `: |! D* K& k/ _
同埋個市場既前境要係好先得
9 j8 q) w" m- E+ x2 T但當經濟一差,公司估值趺了,物價不升反趺- A6 v, Z* E$ ?# \2 j" @
例如剛才說10蚊的, 趺到得番9蚊, $ [) v6 {; f( m0 u5 n- B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) A3 E3 n; n- j( Q: i% z# `所以你就會覺得D錢好似蒸發哂咁) Q: _3 C/ x. c# z. w5 B* V

) K0 T7 K5 w& f8 n1 _你都可以當標野咁諗, 個樣野多人可以狂升值, # S6 \7 e. [  J+ Q3 S/ v+ ]7 ^- 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,
0 H  [7 E9 E8 Z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% ^6 h$ R$ ]3 X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 x7 c3 u) V8 F. n; [
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
5 V! f0 [1 U5 X1 Q+ g7 e唔係d錢蒸發, 而係比美國佬洗晒未來錢, * E2 J  h, a: q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& A- n3 z# z5 n0 B: ]* b, 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- H% G1 ?! ~! a# R- Q# w3 w
咁你話d錢蒸發左去邊? ...

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0 Q' ~& [5 Z7 C: a* J: r* B正係咁樣
6 G% V/ C8 T* 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& P7 T. F; X: e* r& p, Q
分分鐘佢地唔使還錢. A/ z. ?; p! B8 v7 }. [6 F
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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,
9 m: [. T# r1 K" l) i連國家都係問人借, 不停發債券, 印鈔票
' R0 G! W  u6 ~5 H一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 S' g& V1 D( l- e6 o5 \4 Q0 C* E+ |
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.gif4 }* |7 o# s2 `) J5 p6 J; g& r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
6 s# s# _9 H+ z  F5 x因為以前未生產, 先消費7 y+ g7 F- I3 K: x. S( M
而家就要多生產, 少消費