0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' ?. r2 ]* o5 I( ~: D5 [- NWhy bank will sell 借據給第三者???
( g3 C" \. k* n# wI was so confused.....

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9 `; F8 v2 P% `講到尾都係賺錢4 i% r: C" g, J0 U
so銀行可以不斷放款
6 ~0 {. T, O$ V( }2 |美國的房貸問題散佈到全世界4 `& `5 {7 k6 Q$ x8 j& O; z

4 W6 e+ v$ _$ ~$ `& p- h* J! Xmortgage loan
8 Y* F- v: I1 q& d* R; e>conduit
* _% X. j" Z# n8 K>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)& |1 ?4 r' x, c- D% ^( ~( ^
最後去到投資者

Kev

i thought it is the reason of rate of return.6 t& k, k: O' E
CDs could have different ratings, AAA -> F,% e0 F  \0 F! M7 V! d1 _; M4 B
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 i( Z% q& o8 V7 ^; R) y* t1 l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 \; S' ]3 _6 z1 b  ^* D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 B+ b0 ]8 n0 M& Q& E2 l4 b, U" Q! ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 x# o* ~( C% k; `) m4 asimilar to bonds, CDs trading in the secondary market have different value at different times,! ?5 z  [; a: q
normally the value is calculated by adding it's principle and interest.
! p9 X: G& N4 b# L7 q- ^) ~eg. the value of the mortgage+the interests to be recieved in the future. 7 K2 Q9 y8 E3 ^4 v$ u
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.+ E$ V8 a9 [) X: D5 K
in stock market, it's the demand and supply pushing the price up/downwards.
$ z4 ]; {2 D! P" rFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# e$ a+ p6 p7 ^9 Y; R; e' yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. @) h. V- ]! B9 h3 r6 k/ r
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.   a  F2 a" k/ U, R  R1 D
but the value of their assets did really drop significantly.1 I* O# q. a/ m+ u2 i2 ~

; S* V  h- B! B* O5 H" R! 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& a  G  U% v! B! R. ]5 S& u2 @
Refer to last example,
% U# T3 q1 P* E- i( Q! Ythat means bank A have no money because we borrow 10 dollars from bank A
# m$ ~% x. x# R; D- H4 qBecause bank A doesnt have enough cash on hand ! \2 r! j8 u$ z2 x, M  @
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; I' R8 T. S; m1 p# V+ b1 R) u
so does it mean if E failed to pay D,   w# q# T4 f7 L! b# M# F3 `
all the B,C,D,E have to go bankrupt?* ?4 `& ^3 h( H6 e, [9 E
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the multiplier just tell how much money created in a whole economy, # M( w3 W, S/ i- ^# {6 `
in this case it doesnt really matter how much money is created, * D' G* _( e; y
it's the problem of the debt itself.' G0 w" {4 B! X) \
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
% k  K% N7 e! N" W  @" G小弟一直都唔明...
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1 H, A  v* f) f% e% A全世界都蝕錢，咁邊個賺緊錢呢?$ U6 b7 Q) S" {  o& `
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無可能淨係有人蝕錢無人賺架嘛...5 z0 Q! m; v* T, C. |( ]9 J

7 j) c+ h: G- [敬請各師兄解答7 Q6 ^+ m( V* h1 ~" R. i9 _0 j
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Thanks

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那些根本係 紙上財富  
1 z0 ]4 _7 w7 B3 t8 s$ r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! h7 N% s7 i- N
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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
* Y! h/ x/ F) f6 }& A1 i當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ U! r8 h# }5 @1 O9 r$ {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
: M" k2 p7 Y8 ]' G) F4 ^* Q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 C# {6 _( m- k扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: m& J1 W4 O. M1 u0 B
計番回報率就已經係50%,所以可以好好賺
/ k! M- b! o8 x* |7 f- [% y8 V( A前提係銀行之間要互相信任先可以咁樣借法
2 p4 [# t7 ^# n* X0 r4 h同埋個市場既前境要係好先得9 p& A% l0 z, c: g
但當經濟一差,公司估值趺了,物價不升反趺# F$ ?3 J! }+ R$ P% @0 \. W- B
例如剛才說10蚊的, 趺到得番9蚊, 0 o, G2 c+ l/ o2 a
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 \4 d1 M, {6 \0 |) ^& h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,
; c/ i2 s2 n7 l# f1 p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,
- \. D& B; m8 R2 k: g( \  q2 i8 A7 y. Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 C9 P( ?( d, [0 @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: G" h' ?# E; |
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
0 z* {' R$ ]: Y) D( f唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 a! X" U; P+ q$ r. `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" S, l% R' P% g" x& T9 X5 ~8 o  W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8 p! l1 n+ s* X( l' o. K; N, u
咁你話d錢蒸發左去邊? ...

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正係咁樣) x2 |$ n$ `4 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& {4 m$ S' y7 a3 z5 o- [$ f# z' x
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,4 a. M& [( D7 L  F; V, b
連國家都係問人借, 不停發債券, 印鈔票
8 E; r: Q  N0 T$ |" _0 r# @  ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 @" _' q+ A" S: |
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
( o7 B' V' [$ a2 S咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
0 I  K# \( T# n7 g3 T' U0 Q$ l因為以前未生產, 先消費
( F- u( L' r' U: C$ P+ q) d; v而家就要多生產, 少消費