0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: F0 a& m8 \, AWhy bank will sell 借據給第三者???
# p: y( h/ x# S+ wI was so confused.....

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. o% z: _- L" _6 i! z. ]講到尾都係賺錢
& P8 X: l: _" x$ `6 |- Uso銀行可以不斷放款$ Q+ F& Q6 ?& \9 n2 `5 G
美國的房貸問題散佈到全世界
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mortgage loan $ N1 L9 H5 f; [' S6 c) @+ ]! V) {
>conduit
3 g) s0 `( i. m0 i) F  R& q+ W>RMBS(Residential Mortgage Backed Securities)
- B% M7 w) P/ I1 n( F>arranger
$ C- n. z, ?; v/ y/ `' R>CDO(Collateralized Debt Obligation)
5 b1 X2 c: M- i最後去到投資者

Kev

i thought it is the reason of rate of return.( s# H; w4 V% E1 ?0 V
CDs could have different ratings, AAA -> F,
8 _* t6 l. e" u4 M0 p, Y0 Omore risky ones would have higher premium (interest rate) as a compensation for an investment.
2 Y: }: O: d9 ?5 {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 p: O5 n) {$ Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" l4 ^  \# N$ J0 r; BAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% J7 U3 ~- b3 Psimilar to bonds, CDs trading in the secondary market have different value at different times,
5 l( N2 W( w& ~3 mnormally the value is calculated by adding it's principle and interest.
/ L/ D2 ~9 ^3 ~eg. the value of the mortgage+the interests to be recieved in the future.
2 b$ H* o! 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.
3 I& e$ [- V- o! G* P8 u7 U9 b" S. y, t* [( }$ E( y8 {: ?* {/ U4 z" J
im not quite sure if the multiplier effect does really matter in this case.
  K7 k% M+ O1 s" rin stock market, it's the demand and supply pushing the price up/downwards.$ ~" q; i# R7 R- e& t0 L( r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' ]) i. T* D7 {3 k' D8 m7 K
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- V# b3 u. _$ g% G
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.
# C, B% l- X) ?: Fbut the value of their assets did really drop significantly.
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; G8 m% M% N$ r7 X2 S8 x[ 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+ m4 p3 _' u6 [" j0 N. J" v9 s
Refer to last example,( A, l) _$ ^5 d9 |5 h% T
that means bank A have no money because we borrow 10 dollars from bank A
0 R2 S+ X$ e: t" a3 RBecause bank A doesnt have enough cash on hand / M- G$ p' L! ]. Z! d* f; U! o6 P
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* k$ M! r# G% {, _$ {3 LA->B->C->D->E0 C" D* q' j$ z, @& n+ f. i
so does it mean if E failed to pay D,
. L( B/ ^3 ^/ p3 \9 q5 b9 `5 ^all the B,C,D,E have to go bankrupt?; E7 G* y1 d3 |' }1 ^9 f1 O  v/ c! B
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the multiplier just tell how much money created in a whole economy,
: U9 y+ f7 Y& ^3 nin this case it doesnt really matter how much money is created, 3 k9 _7 r  v8 b- D% B. B) ?
it's the problem of the debt itself.
8 \( S; O7 z# J' d" l( l( athe 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% \; Z; L' |; l6 \# X, 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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無可能淨係有人蝕錢無人賺架嘛...! L8 L  E/ f) v' R& F* E& c& x

* Q. S( g9 Z3 J: T4 }1 P敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
% J8 d0 q3 B, ]) `6 {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 graphic4 `# X2 C, n5 J6 {+ }% ^4 R/ ?
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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0 `. o+ S; X. k) @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# \$ r( b  \+ R6 r9 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4 M5 z; E7 V9 ?5 X! E/ d3 [
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* v0 z8 B. e: P0 p* Y2 O8 P- ~: w5 x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; {. X$ \8 h* b  s4 M計番回報率就已經係50%,所以可以好好賺" K; M' p3 ], `2 x
前提係銀行之間要互相信任先可以咁樣借法/ O/ x7 |6 w1 l9 D4 A/ B
同埋個市場既前境要係好先得" _, ~. H  Z/ `6 h  ~9 v
但當經濟一差,公司估值趺了,物價不升反趺
/ \% R% W( H8 E" p9 `例如剛才說10蚊的, 趺到得番9蚊,
' F) E0 s$ o$ h- G% ~3 q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 j: O- Z+ k, ?4 Q8 _0 X6 l8 s所以你就會覺得D錢好似蒸發哂咁$ F3 O" o- ?8 }) D4 M  P
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你都可以當標野咁諗, 個樣野多人可以狂升值, 2 V4 ]6 K# m# U5 C( n" r
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,
1 ?" d3 G4 G* f! }! J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - l$ S2 g. i0 i, P! `
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
, x& m: Y3 l7 s" ^( _; ?' Q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( t5 {- e! k+ v
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 y  O) ^+ Q$ e2 p5 q1 w% M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 a9 {, k4 Y4 l0 b7 K" ?) @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/ S, n$ b  D6 W4 }/ H
咁你話d錢蒸發左去邊? ...

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& b0 p& Q% n+ @( W2 [! h/ z( _正係咁樣% t, Q" T% T4 R; x
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
* R, T/ {/ A. r  f分分鐘佢地唔使還錢" u2 J9 ]0 `" P8 P

2 v! s7 B( G- l& n* `3 I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,
* Y, j  F4 B: r8 r. c! D連國家都係問人借, 不停發債券, 印鈔票" J8 p$ n3 }7 @1 R
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 [3 S, k! V. @: m/ e7 q/ [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( I  K) R. h. q( p+ l
咁而家"爆哂煲"算唔算先至係變番"正常"???

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. q& I( D" Z  Y: a& @/ Y/ \其實係...
  g+ c& F3 W, A7 n因為以前未生產, 先消費0 M+ k$ H9 i7 N1 q+ b$ K
而家就要多生產, 少消費