0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 @" h" q$ B: \3 r  r( q' ?Why bank will sell 借據給第三者???
( {* ?; P  _( E' b; AI was so confused.....

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/ \( k, Z. y4 I1 Y" \) l+ \8 {講到尾都係賺錢& s# C: R4 c6 V1 U3 J" j1 S
so銀行可以不斷放款
$ R3 h5 T/ s5 A* Q' E0 Z8 h9 u美國的房貸問題散佈到全世界. Y7 w' c% \) g/ f+ R- w1 S$ E

, @& v) ^5 y2 [7 N0 F2 _% m# qmortgage loan 6 Z5 N& [" X) F* A  @
>conduit
% h* m' r; V  H2 Q. Y>RMBS(Residential Mortgage Backed Securities)
+ h/ F% d8 b* ~; n+ A* ]" h& J1 _1 `>arranger
1 r* @& H# C6 X/ \>CDO(Collateralized Debt Obligation)) r- @$ d2 ]) F+ s6 T+ O
最後去到投資者

Kev

i thought it is the reason of rate of return., c: R, y  {; f6 K4 X, {0 h6 ^
CDs could have different ratings, AAA -> F,9 w8 n3 q/ a- |7 w
more risky ones would have higher premium (interest rate) as a compensation for an investment., _: o" v* X, |4 n4 u( Q$ |9 g3 D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ s( K+ P8 N0 S$ R: ^7 J
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 j( l- |+ i8 Z* ~4 M: l! oAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 @' E2 C; o* b/ g% d# L3 T  T
similar to bonds, CDs trading in the secondary market have different value at different times,' M2 N: @% z9 i% y" C  j/ E; Y
normally the value is calculated by adding it's principle and interest. . m/ j1 H! z4 [$ p8 O
eg. the value of the mortgage+the interests to be recieved in the future. 2 p2 L1 @: U. W- J4 R# w4 x* A7 a2 D* _
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.9 W/ _* Z$ L7 z. g4 J4 \% A" S
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im not quite sure if the multiplier effect does really matter in this case.+ l, M$ ^' `; y: K
in stock market, it's the demand and supply pushing the price up/downwards.8 t! O/ K+ E; e1 Y" C( l1 x
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 v! b8 I% D, P) f# C
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' j  L- O2 D4 J9 ~  O% h  i; [' IThe 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. # l8 n( c6 e1 Q2 O
but the value of their assets did really drop significantly.
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1 m2 J8 Z! t/ D$ H9 o2 g! ]& y4 \[ 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
* c: W( P* j+ _: M$ S0 FRefer to last example,0 x. f0 k/ ~7 R2 D( Y; a
that means bank A have no money because we borrow 10 dollars from bank A
7 L4 C& a# S8 P+ k  O0 HBecause bank A doesnt have enough cash on hand ' t  y9 X+ s2 ?/ m9 t7 i' }) e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 ]( I, V9 }5 i4 X, L5 T8 iso does it mean if E failed to pay D, ' t5 n7 \/ `* R. p2 h
all the B,C,D,E have to go bankrupt?6 V; d; W' m3 Y: c( k
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the multiplier just tell how much money created in a whole economy,
  ^: L" H1 K  d) d- Iin this case it doesnt really matter how much money is created, ! z4 [5 z, @+ c$ D( G" G5 G
it's the problem of the debt itself.
& J/ e  K, M2 p3 Tthe 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 o, y6 E% n+ ^1 W
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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無可能淨係有人蝕錢無人賺架嘛.../ h/ W% h- X9 ~% r
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敬請各師兄解答
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Thanks

; y' n# X* [, C' ^8 s那些根本係 紙上財富  
2 s! g% a9 N3 Q" z2 O6 Q" K! V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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' `  }) g4 w: Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
% x( n/ r/ L# i7 x當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  ]0 i" ~1 ]2 u* w0 H
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: K( x2 P: o" n$ u6 O0 {/ Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ b' ~* x' X( c; C% U+ c1 q* M
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ a  v! U2 k) D' i# E0 p  L計番回報率就已經係50%,所以可以好好賺
1 o; O% ^" L% @% B& _前提係銀行之間要互相信任先可以咁樣借法2 W* J8 e8 U; @; L/ V
同埋個市場既前境要係好先得6 L+ s7 F3 x& j$ j: Q- G
但當經濟一差,公司估值趺了,物價不升反趺
' X) K% Z. S  L/ ?$ \1 |例如剛才說10蚊的, 趺到得番9蚊,
: O' B6 d0 S# ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ n. G6 u# u) I所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 9 Z1 A5 g, l! A5 E5 |1 }% E
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, * V* `0 k% r2 L- h: g5 ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 z5 T' f+ [7 X' u, q
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- }% f" a$ h5 G# z2 I
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, K# v2 v  C, Q1 i  e
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; ~& Q; r& n7 i) j$ q% G2 j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 E' u% K0 K2 ~5 o
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! P& Q: p3 u( p% m# `2 L) `
咁你話d錢蒸發左去邊? ...

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正係咁樣3 i- I2 o. e- j+ g; E" D9 l
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 \1 N( q* g. k4 X8 M$ R7 N7 Q分分鐘佢地唔使還錢
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. c+ a- U8 W6 z8 k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,
% l# }/ C- F4 i& m' z! S* G! J連國家都係問人借, 不停發債券, 印鈔票2 H& m: R4 K! a0 S1 @) }* V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" S7 Z% o6 e7 f, k
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
# h6 `( w' l. w0 f# M咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ t) Q9 a1 }" |- I% x: X- v其實係...* b: a" J1 Y8 K0 ?! E- ?* B
因為以前未生產, 先消費
/ c; f( i. |) F2 B' t$ ?' e而家就要多生產, 少消費