0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' V6 r  ?7 X8 g6 w$ D; q$ W, pWhy bank will sell 借據給第三者???
+ z  ?% ^% t; C8 j) hI was so confused.....

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% k2 @3 J) g/ W9 O9 t; d講到尾都係賺錢
6 Q9 J& _( w2 q% x' i% Yso銀行可以不斷放款
- i1 E; q/ g  r7 b美國的房貸問題散佈到全世界
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& B) j! ?. B0 C# N7 Zmortgage loan ! P4 Q4 h- t0 y5 [
>conduit
5 C9 m: p# o9 X! _>RMBS(Residential Mortgage Backed Securities), M: k* ]4 O( o7 ?2 g: p
>arranger4 G2 z/ C+ C, J6 J, U' l/ y4 J
>CDO(Collateralized Debt Obligation)1 h0 p0 D* k" |1 b
最後去到投資者

Kev

i thought it is the reason of rate of return.
5 e0 F; \1 q" y5 E* jCDs could have different ratings, AAA -> F,
( O/ t. Q' F& a* @  N; v9 k* mmore risky ones would have higher premium (interest rate) as a compensation for an investment.5 u' p2 s& y' w7 o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 K0 j7 Q. _4 s7 }' din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) [+ A" l! F7 t' qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! j7 h. ^- \5 T6 z
similar to bonds, CDs trading in the secondary market have different value at different times,
7 p6 H- t5 J' Enormally the value is calculated by adding it's principle and interest.
( v  A% u/ r0 I( z5 e9 j8 k) D# Eeg. the value of the mortgage+the interests to be recieved in the future.
0 m- b; c1 n0 N% G) @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.+ U/ M* e+ _! Q8 }9 J% x! U
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im not quite sure if the multiplier effect does really matter in this case.
6 F, j& b: k- Min stock market, it's the demand and supply pushing the price up/downwards.
5 p1 {7 n5 }3 ?4 l, q) ~' HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  Z! H4 p, T2 n' h* `9 K% E
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 }) L2 V5 Y# J. c2 Y! p/ s1 K# ?! CThe 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.
& i% f% \* \. S7 J# Q1 sbut the value of their assets did really drop significantly.
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1 r$ a$ x; ]/ H, V& l[ 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$ Y) U1 ^+ \' p
Refer to last example,
- }- V4 G6 r' q2 \, k! j- ]that means bank A have no money because we borrow 10 dollars from bank A # C6 f, q. n# N% c0 a
Because bank A doesnt have enough cash on hand 4 @9 s4 K2 R0 x2 D8 D# d  p1 \- u. `1 @
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; W4 B5 l0 d1 _% F9 i* O3 M1 a
so does it mean if E failed to pay D, 0 S# N" _6 O  W" E, e4 _0 E
all the B,C,D,E have to go bankrupt?; q6 ?& b/ B6 D$ n/ G( `0 E+ s

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% q( g1 C; w: `! S* h3 R/ Hthe multiplier just tell how much money created in a whole economy, 6 r4 [6 Q8 G3 }4 o5 }
in this case it doesnt really matter how much money is created, 4 T) R1 P0 f. ?" j( k4 L( A
it's the problem of the debt itself.
( h9 o2 ?) A( a4 H9 W, m+ U) 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.gif
2 ?4 H* p. E/ Z: x$ |小弟一直都唔明...5 q* A3 F6 E4 r+ b* e0 N

/ p. b0 o% @% l2 S/ G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...  q" L8 k- Z- N: m9 r

( ]% n! A0 v. ~8 G敬請各師兄解答
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, M( ]" P! ^. W+ ~/ e1 f8 fThanks

# H! Q) `8 q1 g9 D# n0 R4 ^那些根本係 紙上財富  
% |, H# R) D4 G- k0 t6 r- i4 @9 e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 n$ t4 l- b: }( M& ~* P) L
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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/ d! y1 k# `8 `3 O( K9 I
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 k1 N& `, k" N' S7 E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+ |3 [3 W$ W$ X0 W
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' |) d6 Z7 M  z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 l, ?/ |3 q6 {. X/ Z. k) v
計番回報率就已經係50%,所以可以好好賺
) A8 U. I& e( x2 g# |" X前提係銀行之間要互相信任先可以咁樣借法
) n, Q7 s# q6 O* {同埋個市場既前境要係好先得
2 g: A6 d! u& U1 {6 F1 J8 L8 Y$ {但當經濟一差,公司估值趺了,物價不升反趺7 ]+ [& w8 q3 W+ I( z4 k( ]
例如剛才說10蚊的, 趺到得番9蚊, * g4 L3 [; J3 q0 a' A: \8 V- E
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 T! r( a1 V3 u( ^2 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,
$ w6 h1 v: J: x* I7 c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, 6 n, N7 q5 {2 b3 d: I, r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % v) y4 `, Q! |5 E8 g8 ~" f- W, 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
  U  l7 d4 O  C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
1 T1 t( I; h. S8 w; @0 O唔係d錢蒸發, 而係比美國佬洗晒未來錢, : u0 d0 D4 v* D" V0 [7 {8 M0 v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! Z1 ]2 y' T  b2 D* q& `  s
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
+ q6 Q6 @- k' i& C8 l! q" D' |! K咁你話d錢蒸發左去邊? ...

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3 i+ e% f9 W/ ^正係咁樣
& p; n( I& q) k4 b* q! {: r5 K5 A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
0 A  Y4 H8 k& H' p( t' J  E+ T% l分分鐘佢地唔使還錢, `" o7 N( o! r3 S9 i
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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,# w# [/ q" u6 A0 Z1 T
連國家都係問人借, 不停發債券, 印鈔票
( g$ C# {/ ]- W; [9 x6 @一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 ]' K1 j" X) u7 K3 U8 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.gif1 |. Y* {- E% V. k! y  B  }
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
6 G* Q& g2 c, E- K因為以前未生產, 先消費
% A# z& m  V' Z; p$ L而家就要多生產, 少消費