0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" [1 h: D; @6 q) J$ V  F- O2 TWhy bank will sell 借據給第三者???
, o) L$ ?. i& b) A/ q% xI was so confused.....

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講到尾都係賺錢
  h2 o1 e% ~' y! D! t! r+ F3 Qso銀行可以不斷放款
. B. |" e. t) p" B美國的房貸問題散佈到全世界
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  e7 N' S; M1 _) F+ b' P2 W: B% xmortgage loan
9 ?. }8 O! c: y>conduit) H4 H, m2 {$ Q% Y6 k
>RMBS(Residential Mortgage Backed Securities)
* g. _* c8 L- _9 W; M; ^>arranger3 n, `  a/ N  ]  ^& z# |" H$ R2 A
>CDO(Collateralized Debt Obligation)
) D" w$ K1 R, U- u) ^  @最後去到投資者

Kev

i thought it is the reason of rate of return.5 n. N9 I7 E3 l" K* t
CDs could have different ratings, AAA -> F,, u3 S7 b3 ?& q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 b' H% d( H& ~) nmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 x6 {# J2 N) P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 _4 J' z  L: g* F6 fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ _9 w* d/ N* V; N( C  esimilar to bonds, CDs trading in the secondary market have different value at different times,
; |1 a7 w7 l- B* e* j  Unormally the value is calculated by adding it's principle and interest. 8 o' J* m# t. D2 q# y, Z
eg. the value of the mortgage+the interests to be recieved in the future. 7 E" L! j. V0 n9 P- D1 e4 _1 `% L/ M
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.2 s+ d5 v8 N, A# i; R/ S" j9 x
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im not quite sure if the multiplier effect does really matter in this case.
5 L. j4 c) W4 D. _" R% S$ vin stock market, it's the demand and supply pushing the price up/downwards.- V  [& |- u* L! N& m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 [# c3 W7 K# J) j8 z' ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ W: I5 n6 P- X5 L* v: {
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.
% z- h) w. o7 w; D. J) ibut the value of their assets did really drop significantly.
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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
) E' Q. U- t; B( g2 b% IRefer to last example,
0 x$ C8 \5 Y; o8 D& @that means bank A have no money because we borrow 10 dollars from bank A - [2 [  X7 K( S  b
Because bank A doesnt have enough cash on hand
9 _5 E/ o( E6 o4 b) Xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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! v+ O5 B2 W8 a5 ?4 n* A. B5 aA->B->C->D->E7 Q) I- t& f9 G
so does it mean if E failed to pay D,
1 e0 J5 t4 s# g# F6 a. uall the B,C,D,E have to go bankrupt?9 o* X* g0 ]# Y! P* h

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the multiplier just tell how much money created in a whole economy, 9 z; f7 R, z6 J! N
in this case it doesnt really matter how much money is created, 1 m- d8 F! ]9 s5 o; ^* _
it's the problem of the debt itself.6 N- x$ R/ U4 G) K* d/ }: I  M- |
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' {! }- G) X+ b( n. \
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?$ j! J9 y6 N0 ~' }

3 y# c4 C( }9 w# b( u無可能淨係有人蝕錢無人賺架嘛...* N* k2 l2 A4 \* @+ o2 _: ]
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敬請各師兄解答
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Thanks

- \2 d1 J  I4 ~3 M! x7 u那些根本係 紙上財富  
* D) B" f+ ~+ v% l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 e: O2 s4 t/ V
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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
- T& n7 Z( \4 G$ [5 {# f3 _+ e當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 M5 y2 N  J! u9 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, z& Z8 d( y) f
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" ~+ Z0 E1 L- @- o0 h3 k8 D' y6 y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 g, m4 u* V, G+ _" k- p5 Q
計番回報率就已經係50%,所以可以好好賺' F( Z& Q' Y2 y5 y
前提係銀行之間要互相信任先可以咁樣借法# H* [4 N. \' K/ \( B
同埋個市場既前境要係好先得% c! B0 Z# L. c7 W0 M
但當經濟一差,公司估值趺了,物價不升反趺5 y1 w7 P% d6 q0 R9 D% Q
例如剛才說10蚊的, 趺到得番9蚊, - E2 m) R7 f7 C# ^+ e
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 X9 g/ F) ~: K2 e. q
所以你就會覺得D錢好似蒸發哂咁: a( t- Z- m# |) r
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你都可以當標野咁諗, 個樣野多人可以狂升值,
" z$ b4 P& U9 w2 L- z# F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,
4 p) ?% g3 n( t- H0 e0 g0 B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) ?9 M2 b5 W8 w7 e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
( Z) s! Q. i/ V7 r$ w, y% v  U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 i) G/ ~& n& i# l
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 F4 _) ]8 `/ F$ Z0 ~# Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 |# L" A8 y& a1 ?+ A8 u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
, w5 j; |3 u9 v# H- e7 Q2 z3 r. G咁你話d錢蒸發左去邊? ...

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4 y; A( I# K0 C" Q1 t1 D正係咁樣1 ~) ]9 Y  ^8 j
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
. c2 z* Q& r9 a分分鐘佢地唔使還錢
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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,
6 t( E+ ~6 C& Y! b* C$ p0 X! c2 d連國家都係問人借, 不停發債券, 印鈔票6 {: {5 ]5 A2 j6 A6 _+ N  _2 |* A
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) Y$ ^( D0 W( w: t9 v  ^0 ^( p* U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
; t. J$ E9 t0 g9 c/ \9 M咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...7 c$ S* y5 ?* X! g; k9 @$ `
因為以前未生產, 先消費
5 D9 l- G: D4 a# i而家就要多生產, 少消費