0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( i8 b/ `% s! a  y4 K8 O3 {6 [9 o" cWhy bank will sell 借據給第三者???9 Q% d) }: `: y# |
I was so confused.....

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3 h- @8 z/ L! H: k講到尾都係賺錢
+ Q; m. `0 T# j  v/ kso銀行可以不斷放款
8 O9 A& D+ r8 x: k( u5 i美國的房貸問題散佈到全世界1 M. k! X) \- \' ~% A( g! _

3 W$ D2 L, X; U7 o  e+ L4 Zmortgage loan . b( l8 v& c: O: U: ^
>conduit
' U& M, a* w" r2 R) P>RMBS(Residential Mortgage Backed Securities)
. e& b$ {9 n9 {' q>arranger
( E1 g1 c+ C! z% a  \( t>CDO(Collateralized Debt Obligation)1 x2 a0 O' Q9 t  Z! Z3 c; a
最後去到投資者

Kev

i thought it is the reason of rate of return.
, d/ r+ L- `) t& T. F) UCDs could have different ratings, AAA -> F,0 |/ c1 u0 B( W
more risky ones would have higher premium (interest rate) as a compensation for an investment.% @! v$ w% P; D$ `/ Y) @5 q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; i7 ]5 `. R9 [2 g! d- Jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 V2 d/ f7 V/ N! O5 O0 b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( K! [& c% Y  d$ F% R* r
similar to bonds, CDs trading in the secondary market have different value at different times," k1 j4 I9 h3 b+ H+ _
normally the value is calculated by adding it's principle and interest. 2 K6 v; h( R) r, ?  `( B
eg. the value of the mortgage+the interests to be recieved in the future.
0 _/ g$ t( q7 Tbanks 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.& w! Z  n/ }6 T/ J0 j3 _
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im not quite sure if the multiplier effect does really matter in this case.
5 A3 d/ q" g& w4 ], @1 C2 min stock market, it's the demand and supply pushing the price up/downwards.
6 o6 J* u" L1 c/ q/ y: f; n" ]* @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' J% ]" `" ~0 C. F* S; l0 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. \( e. m( b2 e! b' a
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.
4 s$ v/ T% D! |7 b, _5 Sbut the value of their assets did really drop significantly.
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1 Z- {2 D+ }2 @- V6 p! ^( d; _( e[ 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
3 ^  X4 n( R  O1 G( ERefer to last example,
; {% D/ Q  N+ k2 v  x  pthat means bank A have no money because we borrow 10 dollars from bank A
- u6 l% Y. o- \2 {8 oBecause bank A doesnt have enough cash on hand
4 a2 ^' s9 D' Ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E( I$ ]1 v6 e8 l, H5 z# ]
so does it mean if E failed to pay D,
" T/ U- V9 e3 B7 D% H9 z/ aall 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,
7 B' E. a( A* E, x3 }0 y. pin this case it doesnt really matter how much money is created,
% o4 e7 t, L9 }4 u2 I# O4 Iit's the problem of the debt itself.; E: W5 ~9 F; u8 F
the 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
% l) N" F5 T7 A( O* M6 c6 I+ U- I小弟一直都唔明...3 _$ R  T9 ^/ G( k+ a' D# \
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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...* T' l/ s+ K5 X0 I3 o6 Q2 H$ Z! Q# w
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敬請各師兄解答- W0 ^+ y" T4 m6 k- U
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Thanks

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那些根本係 紙上財富  
7 R& u( |8 g3 k# I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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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
" m& s8 s; ?( |& R+ A- C當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' Q) Y  S1 X! x! w7 t
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
6 i, P% A% w# n個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 V- O- P( _: w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 `7 G+ g8 ~! e$ k8 r; |) T計番回報率就已經係50%,所以可以好好賺" }" j- k" R5 }
前提係銀行之間要互相信任先可以咁樣借法# B' X5 U! _, `) a' a
同埋個市場既前境要係好先得
* B; B( {% Q7 Z* M' P: |1 m# t但當經濟一差,公司估值趺了,物價不升反趺* p5 E1 ?) f: F" u( B
例如剛才說10蚊的, 趺到得番9蚊,
- ?* V1 O7 y" `3 S咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 L' e5 G8 h, w5 Q
所以你就會覺得D錢好似蒸發哂咁3 v' h% o: e. ]* f$ e7 P

) T& t( _' ]) Q你都可以當標野咁諗, 個樣野多人可以狂升值, % H' }% H# s3 S; C* P6 ?
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,
, F- t! ?" Z0 \, E8 ]* Z; O8 }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( {7 ]; {/ ?; S8 R
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
* r# J; P* d3 ]* F4 W. b6 P9 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; k# s+ u) ^  F& `. _- F
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 D% J% f* n. t, c! G- {0 H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 `/ D- [# b3 c5 n" f# j
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
: Q5 }  F* ^) X2 h5 T咁你話d錢蒸發左去邊? ...

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正係咁樣
" |, b8 C) `1 ^* A6 y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! O. W8 X$ X4 I4 R8 {. J
分分鐘佢地唔使還錢# {( h0 E% `2 @0 Y6 |

5 x' x2 `) S& A4 ^2 W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,5 N* _$ Y9 B+ y
連國家都係問人借, 不停發債券, 印鈔票
2 Y) ]. }; W8 [' c, U5 a3 K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; z- c! E. I  K/ _! j! f
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
  n" x+ h& _3 [: Q( l; r咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 ]6 q1 T, V7 U) ^: B. A, Q
因為以前未生產, 先消費
8 ?' @% m5 j# ]: r而家就要多生產, 少消費