0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ Z: @, [5 t$ `$ y% l& mWhy bank will sell 借據給第三者???' {# i# l; J4 w6 x
I was so confused.....

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4 c$ v7 u8 ]2 Y講到尾都係賺錢
  o1 l9 u1 `  @6 B' w- Mso銀行可以不斷放款
8 b8 d( L; j: E2 T7 Q8 e6 k美國的房貸問題散佈到全世界
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' D) G+ D1 d# i2 x. Dmortgage loan / B6 c3 [: ]+ |$ H5 C% P( ~0 X) W
>conduit
' J) B; G! w3 C* {7 J& F/ m; `7 _, z>RMBS(Residential Mortgage Backed Securities)3 C; i5 p8 w) A  \5 j$ o
>arranger
! N; k2 h$ d5 y) g  N3 ]- T# N3 Z7 t>CDO(Collateralized Debt Obligation)
3 ]. p5 h! }7 }最後去到投資者

Kev

i thought it is the reason of rate of return.* l% \& L# m% S4 q4 G- h( s
CDs could have different ratings, AAA -> F,
% Y& X( M0 o; [3 J  R; I  }" wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
* V" {: Q* H0 N$ z/ c4 g* amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, T* w  \: s5 F& ^6 cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& H; _. }( x& k2 P
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! z% p9 p  }% K2 C6 M1 |
similar to bonds, CDs trading in the secondary market have different value at different times,6 E( d8 W- e$ M5 n$ }1 D3 k' Z
normally the value is calculated by adding it's principle and interest. ( {% ~5 q6 K& O* R
eg. the value of the mortgage+the interests to be recieved in the future.
. n% {# w. ^( d! I- u0 }3 rbanks 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.( c2 n2 h" Q! U9 j8 u1 m! g
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im not quite sure if the multiplier effect does really matter in this case.
6 u: D1 |& C! J, Q( Z$ ]' _in stock market, it's the demand and supply pushing the price up/downwards.
- @8 f' l8 x8 ~8 [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' L; Q: m1 B  ~2 w
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ o0 }" T" v+ N4 W) i
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. . z1 E3 d" [8 u" H& n
but 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
/ }' e1 w2 L  c8 JRefer to last example,: ]- S$ L1 Q& t5 P  @
that means bank A have no money because we borrow 10 dollars from bank A
$ F' ~' Q" s4 W5 v' C5 yBecause bank A doesnt have enough cash on hand
( J6 X- x6 E" H- v6 d& R/ O& J- r) atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 F# `8 i+ A) ]( A% K9 C" M3 BA->B->C->D->E* a6 @3 a/ @7 ^3 ]
so does it mean if E failed to pay D, % h! f5 A4 h6 L( c
all the B,C,D,E have to go bankrupt?/ {4 Q9 T5 f- ?1 ]4 D
, _" u. F) Z' u0 O4 q

4 T1 _& V; c% K# U- A. @* a, Tthe multiplier just tell how much money created in a whole economy,
- y* E, l0 f! P) Gin this case it doesnt really matter how much money is created,
9 ?& W  A2 n- P" @1 `" Vit's the problem of the debt itself.
1 O" a' M& q& e% ], h- I; Xthe 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 K& A) {& r: R: v
小弟一直都唔明...
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! l$ C% P" r# M; p* v. g3 N  d全世界都蝕錢，咁邊個賺緊錢呢?
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  D: p6 Z9 ~) G- ]+ H無可能淨係有人蝕錢無人賺架嘛...
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% d4 l) W9 Q1 v" I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  % P* }8 M$ _2 o1 o$ n  g! {
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
% t4 J6 E9 M. ~! K當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 V) b2 Y7 z( [9 u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 z* X& h* x! e! _# P* [
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# _/ A* q  ~$ I1 ~! _2 q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 s- ~# ?" L2 y/ A% A- X1 M計番回報率就已經係50%,所以可以好好賺4 W& o, T' r1 O
前提係銀行之間要互相信任先可以咁樣借法+ ~4 c" |) T. R9 [1 X
同埋個市場既前境要係好先得# O3 b% s6 j% W  X8 P* Q
但當經濟一差,公司估值趺了,物價不升反趺1 D6 M4 z9 f$ @) L& e
例如剛才說10蚊的, 趺到得番9蚊,
0 g2 k. y7 d$ b- K( e# F. t咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% d8 U$ ~9 X  E' S' H
所以你就會覺得D錢好似蒸發哂咁( B4 M( ?# S+ r) [( Z
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你都可以當標野咁諗, 個樣野多人可以狂升值, 9 Y; r0 b! Q! a) S+ b) @+ m. 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, % W3 p( y* L! k' ^/ F/ e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% c! ~! b! M' m5 C& ~' A! ?: F. G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
0 p  K( B8 }4 A1 F* S) 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$ G0 }) ?- M5 }* Q7 r: x6 w* \
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 D' a$ Z2 W0 R2 l9 U/ y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. E: t' Z) H2 h0 j6 [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3 v; h. ~0 M( V& i1 w7 V
咁你話d錢蒸發左去邊? ...

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5 r) J# x5 h4 ~8 k8 y正係咁樣
# L7 L% K& ~! Z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* \# D9 H& t; i: K6 ^0 c
分分鐘佢地唔使還錢$ ?: }4 V' v) W, N, m

+ K6 o8 M1 t* X" Z& n+ y0 _# V3 l' h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,
/ k( r* G: o* @. N+ L& w1 |, B連國家都係問人借, 不停發債券, 印鈔票" R8 V- a7 S/ c4 j
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" s) B. H7 h, `' y3 d
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: c6 {  V  l1 l& `
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...5 P. B5 f/ `$ @! p9 U8 j
因為以前未生產, 先消費# r: t# [) Y$ L  G( v% L- r7 q
而家就要多生產, 少消費