0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ h. U! l' V. L+ xWhy bank will sell 借據給第三者???
  Y3 k  @  U6 C$ K8 ^" Q7 o7 ]I was so confused.....

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4 b, h! m: }; E0 b$ j) _$ G; P講到尾都係賺錢6 E: k1 I4 I* Q4 |  i
so銀行可以不斷放款
0 p0 i, g6 V) {9 S美國的房貸問題散佈到全世界1 a) F% k- u+ {

% g  n; C6 |. }% W& D/ M7 L9 ]mortgage loan : I3 |; I# r. A- m6 W! c1 v' i% i& g
>conduit8 x' \9 E7 c) y7 F( l
>RMBS(Residential Mortgage Backed Securities)0 C; Z# h, g4 j4 V/ f
>arranger; k' v# t1 E1 ~
>CDO(Collateralized Debt Obligation)5 ]0 L0 M6 Z( _! s; w% \- w
最後去到投資者

Kev

i thought it is the reason of rate of return.
5 Y$ `4 X: j; H" s& \! `CDs could have different ratings, AAA -> F,2 m% k) i; \! i" j+ ?0 h
more risky ones would have higher premium (interest rate) as a compensation for an investment.9 w: f: [' Q% I3 Q* K+ ^4 L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 i4 g; f3 {! a" P) n. X* T. Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 T- P5 g( F' y, M/ h1 e& SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' P' p8 p/ b6 W5 B! K* I, H+ nsimilar to bonds, CDs trading in the secondary market have different value at different times,0 R& ?  U; l  Q1 V, u! K8 n/ \
normally the value is calculated by adding it's principle and interest. - Z! U7 Z; g; i' w  J
eg. the value of the mortgage+the interests to be recieved in the future. + o$ e7 X" C8 Y  Q
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.
& r1 X0 b8 o4 o% Lin stock market, it's the demand and supply pushing the price up/downwards.8 ]5 h9 A. x- q+ v2 e' G  I* \
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; U3 g* }( e9 C# e' AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 U8 W; \& j: L, 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.
3 u( r4 c4 X: \- V6 t1 I6 y- Rbut 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# B; V6 K: o( s- k
Refer to last example,
% a, @# b+ M/ W, S$ O4 s% F2 ithat means bank A have no money because we borrow 10 dollars from bank A $ [: `# G. t+ E4 ^
Because bank A doesnt have enough cash on hand
* f2 v, U0 ^" b5 ~/ M! l# Ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 C+ q2 v6 o/ ]  G; }. A' FA->B->C->D->E
( o. N' E  F9 a7 w8 Jso does it mean if E failed to pay D, , }7 _) l2 y! r9 y
all 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, 9 `9 h) e2 ^2 c0 X6 P
in this case it doesnt really matter how much money is created,
' W6 `# S! C) X! i, Q7 ]  kit's the problem of the debt itself.
+ ~' n) A4 U. r$ Rthe 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
2 ], `- a3 q; y. }小弟一直都唔明...
7 p8 k+ y: G2 N' A+ ^9 k
) F  c+ w6 {% k- R8 ?3 h全世界都蝕錢，咁邊個賺緊錢呢?- X! n, a- O0 o8 a9 x- M8 [
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無可能淨係有人蝕錢無人賺架嘛...- E: n* r0 _. Y# B/ X% Z$ C- v6 y
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敬請各師兄解答6 n2 K' i( q! e" F+ p" c7 ?7 q

8 i% f/ V: e" j8 c1 d9 tThanks

0 T) m6 i1 _; r! k4 p) i5 c: p那些根本係 紙上財富  
1 b- D+ m  L( T0 |9 n/ o% X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 graphic1 J, @- @& \8 X0 \; o6 ^

2 h5 q$ v( n8 ~. @: T4 @7 B& shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產# }8 X/ L: h- o/ L3 a
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* T/ k. e$ q5 b
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
& Z5 v4 z& A* a7 p% a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 R8 n( o& N: t4 V+ s4 }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
5 B3 l1 G2 m# i# \7 V. A計番回報率就已經係50%,所以可以好好賺
1 E7 Q$ V) M3 |: o5 [5 W前提係銀行之間要互相信任先可以咁樣借法: \9 h5 q9 d6 i! l
同埋個市場既前境要係好先得
$ T. B! h5 d# z% t6 p% M! z% B但當經濟一差,公司估值趺了,物價不升反趺9 V4 G2 r. ?' _* G2 y* u+ [
例如剛才說10蚊的, 趺到得番9蚊,
, \5 r( K) d( [2 s) H& }1 f4 p3 F$ E5 e2 w咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" f1 `( e4 H- K/ G所以你就會覺得D錢好似蒸發哂咁1 L7 j. h' \) \- t
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你都可以當標野咁諗, 個樣野多人可以狂升值,
; g4 h# f/ y' x6 H0 V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,
9 l" h; m3 l, `! v& ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) p9 [6 P# N, T% z' E8 b- |+ c, 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% d0 Q: u+ ~) E0 S
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- W# a$ E+ |7 R) l8 S, Q  F/ q
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 B7 H& j5 I. v4 V! `淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- C# M: e& T: j2 S7 n) X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9 I" U+ n& H. k* B3 R
咁你話d錢蒸發左去邊? ...

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正係咁樣' T* L' h$ p$ l/ R$ l% D7 v9 a" \
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
# H: q7 f* h: y$ f6 L9 M分分鐘佢地唔使還錢0 m5 g2 T, U! ]
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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,
% \8 u1 X7 k! j/ [& @3 X連國家都係問人借, 不停發債券, 印鈔票
& @7 B" p3 f9 T/ o一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, U0 a3 `) o! x0 }1 U- C  M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' s0 w5 L( |" X! K/ j咁而家"爆哂煲"算唔算先至係變番"正常"???

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, Z& J/ B/ I, R, V其實係...
4 b& g2 |) b) `  m因為以前未生產, 先消費
: i+ N- T1 e% K1 {" {而家就要多生產, 少消費