0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- K& p  W+ u' i3 ~+ D& U0 eWhy bank will sell 借據給第三者???
* f% _& G* F1 U  p- Q1 KI was so confused.....

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講到尾都係賺錢
* O! G) U: M0 i' ~7 `so銀行可以不斷放款
0 J9 u9 G1 R6 g& U; r9 ?8 d  F美國的房貸問題散佈到全世界! Q! _$ E  E% F" y0 z/ \" P

+ ?. M/ k; H! Ymortgage loan ! C7 a6 ?( ^, R- V" v" v: G
>conduit$ b3 p/ z  ~- A
>RMBS(Residential Mortgage Backed Securities). a1 K" t( g$ c* v. P' F
>arranger# k) h+ |1 }# y3 C9 t2 L/ T
>CDO(Collateralized Debt Obligation)4 N; F" M4 @2 W& I1 O
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 B3 m; F% _5 A. X/ nCDs could have different ratings, AAA -> F,
4 q! f) X" d' L; M: dmore risky ones would have higher premium (interest rate) as a compensation for an investment.
% [( N( v$ R9 a( `. Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ R. h! V* L7 k
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 [3 D. U' E& D3 {! gAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- S! l  g/ @: j
similar to bonds, CDs trading in the secondary market have different value at different times,2 I* e( c1 f' O. H1 `
normally the value is calculated by adding it's principle and interest. & `; {' e' ^6 j7 G" l5 }( w; c
eg. the value of the mortgage+the interests to be recieved in the future. # `" u: P7 J' j. g' u$ R+ b2 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.
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im not quite sure if the multiplier effect does really matter in this case.; Y! N  Q0 P& X- ?( t3 x
in stock market, it's the demand and supply pushing the price up/downwards.+ }' V8 _+ O' F" I9 ^! T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 k' u% U5 n2 fA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 I# ]1 {  q# ?; g# tThe 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.
( b7 Z* t! a* y/ Qbut the value of their assets did really drop significantly.
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; }6 }- B& g0 C& c$ i! p8 C$ H& a[ 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$ u) u: h- p. j
Refer to last example,  H2 d) c7 ^# V4 g# y$ h# q  W8 p8 w
that means bank A have no money because we borrow 10 dollars from bank A
9 n3 j% z( t' a8 sBecause bank A doesnt have enough cash on hand 3 D4 r: y9 S/ q) E8 g3 |+ v  ^* e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( c( Q$ d3 S( n1 R0 C; OA->B->C->D->E
" O* f# q; ]" m7 N' c6 mso does it mean if E failed to pay D,
, c- b- f2 D7 S% B* Wall the B,C,D,E have to go bankrupt?4 r7 j' }1 k  V7 R/ w2 E2 A

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the multiplier just tell how much money created in a whole economy,
  T2 p0 R: Z& {in this case it doesnt really matter how much money is created,
" R% ?  {3 E7 f: _0 U% S& @  Sit's the problem of the debt itself.
- G. b; Z% G! j, ithe 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
: p1 l. j; {& ~+ I. i, v小弟一直都唔明...
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9 U- [8 J) K0 {5 n# d8 H& K全世界都蝕錢，咁邊個賺緊錢呢?9 l; A1 p7 w4 B

! X' ~2 B9 R* i4 s: {7 O3 Z3 H: B無可能淨係有人蝕錢無人賺架嘛...
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6 M/ m& f9 D" W- W( I4 d0 ?, p% _敬請各師兄解答
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Thanks

0 F( I# i6 O2 A' s) Y/ J那些根本係 紙上財富  
% v/ a8 ]# @+ r& W. u% Q! H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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7 M0 M) S  G8 ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
/ L" Q( z; s) U4 X8 {: d+ I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- X$ x+ f  u9 B* Z2 O) k7 M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
& }# Q3 g( d; o& J7 i3 o個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: R' k3 [2 H( N4 Y) C4 c
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 h, G6 O/ S* j1 d+ |
計番回報率就已經係50%,所以可以好好賺" p# f0 W( t" @2 h2 q- P
前提係銀行之間要互相信任先可以咁樣借法
2 N' [- P, r1 }1 U6 m同埋個市場既前境要係好先得; Y$ B0 U5 r4 D2 r$ [( F
但當經濟一差,公司估值趺了,物價不升反趺
' I; ^% A) I, H例如剛才說10蚊的, 趺到得番9蚊, 0 {* {1 s- w& L5 t/ B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& f9 t2 }! T- {* y
所以你就會覺得D錢好似蒸發哂咁4 l9 d" `* _5 a2 {7 g% i+ D

6 V" C  }. w% B你都可以當標野咁諗, 個樣野多人可以狂升值, 8 `% A, C. m. X0 B$ w/ m
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# F0 C, W2 D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& l; F% |) y9 q. 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
) r: ?. r! v8 R* W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* K5 P1 u; N+ ]) J
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 O! J* X- O) u5 G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ k4 {; H; R# |* y
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2 z5 |8 Y. @: M/ [8 |; R
咁你話d錢蒸發左去邊? ...

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正係咁樣0 E% G' W0 t$ \4 _; y- o! a9 v
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
" d$ |6 N. V  z4 w: \# w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,0 B$ g) g4 t. u- d
連國家都係問人借, 不停發債券, 印鈔票% b5 b3 C7 w" z" G7 ?: G* Y3 J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產& P/ p' [& ?1 s8 N2 h  L: \
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
- @' p! [  c! u# g9 A) k$ ~! M咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 v$ g) V4 M% i1 ^* h7 a- P) V5 o其實係...5 O, A# ?- X& ^( h& i
因為以前未生產, 先消費
8 x, Q4 \1 m1 o5 I6 _$ {7 g2 z而家就要多生產, 少消費