0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- y0 N- {$ ]% U, G" ]; `Why bank will sell 借據給第三者???
. B7 t9 Y& S2 t3 A! N7 {+ _; yI was so confused.....

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( L6 {+ r6 v- Q* |4 |講到尾都係賺錢/ k6 m4 T- D$ [# r& t0 @4 ^
so銀行可以不斷放款3 U1 c; b6 @$ \+ Y* e
美國的房貸問題散佈到全世界, j6 f; ^: e' _% Y& h/ S$ R0 M9 O
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mortgage loan " Y7 c- z* w7 `( M+ w
>conduit* A3 s5 L! k, d! u* z
>RMBS(Residential Mortgage Backed Securities)+ ]. {& P! ~, i. W' h* J5 `4 s- M/ y
>arranger
( d4 D' w/ U6 G! B>CDO(Collateralized Debt Obligation)) o: p* O) x, c, ]% n! @
最後去到投資者

Kev

i thought it is the reason of rate of return.
, \) l) \9 m, F; ^CDs could have different ratings, AAA -> F,
# b" X; z1 D* O/ ?7 k5 D0 ?, N3 fmore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 ^6 y+ j' Q  Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 h, M$ \& j' {2 j! g! ]4 ?. I3 G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" Y- |* u2 T  |/ h1 o8 `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 W  [* [- ~! S$ k( {7 h7 m3 ]* Xsimilar to bonds, CDs trading in the secondary market have different value at different times,, K; I4 }8 p; p
normally the value is calculated by adding it's principle and interest. / C8 o! P5 _1 Y8 b" D( [
eg. the value of the mortgage+the interests to be recieved in the future.
3 K1 J: w* T2 T2 Z9 Gbanks 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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: P! a) Z8 }$ L- O" O/ I/ Z, H7 Yim not quite sure if the multiplier effect does really matter in this case.
; ?7 I# ?( B  o0 J0 N1 [. d& din stock market, it's the demand and supply pushing the price up/downwards./ Q+ A1 n* G% _  m( J7 [  j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 u4 r) x3 ~8 O4 vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 l% B/ D' Z4 m. V9 d/ E
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.   e9 f- \  y3 k8 N$ F8 w
but the value of their assets did really drop significantly.+ x+ m" q0 Z5 J% F# u; B
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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+ a7 I$ L4 D/ B1 R6 G  U
Refer to last example,
3 r. Y4 a0 _9 K3 y7 r2 m" O; xthat means bank A have no money because we borrow 10 dollars from bank A
9 E" ]/ n$ E3 s: M; `; `Because bank A doesnt have enough cash on hand $ f% ?8 d5 J/ Q% f, _+ r+ k
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E# I0 A2 N2 N6 e7 |
so does it mean if E failed to pay D,
6 l2 [. T; Y( Qall 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, % Y( M! E; _! Q8 J+ a) N
in this case it doesnt really matter how much money is created, ) b. T" x0 Y/ X, x; m
it's the problem of the debt itself.
& C- {7 y. A0 b/ ^8 Z9 I" }+ R; ithe 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 O3 G. C$ _% J8 v* g2 z6 i
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?4 |7 v0 G# T8 w/ R' ^- l

7 \) I3 g- O$ B0 z0 W' ~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' @5 l2 q. N, h. g- |' B+ z& x

3 F* n' X! F9 O9 O4 u0 eThanks

0 {7 y' l0 v' J* e. W0 i& ^4 R
那些根本係 紙上財富  ; g# g: `* j/ Z& n' L0 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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! @' s. h3 T  o( y% F+ ]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- C, z' V/ @  k6 ]6 p, _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ R- _3 K8 ]5 c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& P2 `( @- E9 H0 P+ b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 h4 r9 Y$ S+ [$ @
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( |: w9 s, e$ _: p; j  {: F; e! N
計番回報率就已經係50%,所以可以好好賺! m9 r; p7 S* O) H6 x+ l! g  x8 J3 W
前提係銀行之間要互相信任先可以咁樣借法
# n6 B) m$ Y; X3 B$ S9 m" V同埋個市場既前境要係好先得1 N% ^) e; K5 w( S9 Z+ U' W
但當經濟一差,公司估值趺了,物價不升反趺3 l  u& w$ u: D" e3 Y4 q
例如剛才說10蚊的, 趺到得番9蚊,
  q$ k% }! ]  ?  ^# w! h, F; m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 T7 W3 `1 @# h
所以你就會覺得D錢好似蒸發哂咁/ J/ H! L, @' m  y

: l6 ~$ d- h1 F% `/ s. C5 s# J0 t' [你都可以當標野咁諗, 個樣野多人可以狂升值, 4 z( x. l- o1 k) b7 z5 H8 p
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,
! l$ i0 N& v! ?: ?: w5 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 C; g9 v3 y0 k: B* `: {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0 c* h1 H2 |$ p2 i/ 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.gif3 Z6 L8 Y* }* j
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( D" S* T0 x& @0 o# X& E, R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & J( B3 M# \. O* 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
! m: X8 D5 t, a2 |咁你話d錢蒸發左去邊? ...

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正係咁樣  ?6 ?" M8 Q: `3 n) \2 b* g; l3 [5 u. \
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) K- ]3 e" M0 `
分分鐘佢地唔使還錢
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: X7 y* r- {8 O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,! v- U8 n3 X9 d& V9 o
連國家都係問人借, 不停發債券, 印鈔票" T3 O& ]+ `& I$ y" m8 K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ T- i0 }2 W) w0 X3 T
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! Q. I' J' C5 b% a) r6 C1 U9 k2 a
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 h3 H) L+ e/ j0 i+ Q+ J# [: a1 a其實係...% U6 [) `- e; W# v, x5 }
因為以前未生產, 先消費
7 `) w2 D2 ~4 M$ _* Z! G5 P而家就要多生產, 少消費