0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" C/ H0 v- ~  c! VWhy bank will sell 借據給第三者???
3 n( B( q# K& z" R( ?# b% DI was so confused.....

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: Q, B- ?% I; s  L: G8 S. A/ z講到尾都係賺錢
0 V2 Q: R8 j8 V6 P" q3 wso銀行可以不斷放款
7 [1 Z# x% P4 R' f美國的房貸問題散佈到全世界
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% I/ q5 @1 R$ f4 L0 N) fmortgage loan
$ H1 R/ U/ ?9 Z6 d# `, R% Q- p>conduit( S9 U$ T; H* \6 q# }; w8 D
>RMBS(Residential Mortgage Backed Securities)
1 b" x% J/ `/ d) M9 q9 E) h>arranger
5 _/ V5 c+ }$ d, g/ W3 S, B. g>CDO(Collateralized Debt Obligation)  _( P' L& y9 T/ v2 f! P
最後去到投資者

Kev

i thought it is the reason of rate of return.4 T$ Z+ d8 B# n/ w" j
CDs could have different ratings, AAA -> F,
" J" k# w: T4 d$ ^* M4 pmore risky ones would have higher premium (interest rate) as a compensation for an investment./ `; C* f* K# [8 K. q2 }  m
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 k7 j9 o: t- P% ]8 Lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 N4 O* N5 W: y+ gAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& z: s2 d3 Y# W
similar to bonds, CDs trading in the secondary market have different value at different times,, p) s9 [3 Y$ g9 X" X4 m
normally the value is calculated by adding it's principle and interest.
3 M" Q' x1 f1 t6 eeg. the value of the mortgage+the interests to be recieved in the future.
1 f- L$ Y8 Z+ a- P  cbanks 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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8 y1 ^' Q! w; z- o4 M! iim not quite sure if the multiplier effect does really matter in this case.
, p. w$ R- ^9 K# H5 Min stock market, it's the demand and supply pushing the price up/downwards.
+ H" ^7 J3 y  s/ e# B. U; fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 S( B7 {8 R' a, i8 M0 B  L8 n2 `
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ i( @2 B% ~3 \) [- |& fThe 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.
7 n6 N# u' `1 \( [( mbut the value of their assets did really drop significantly.( B: W  d' N5 Y) {( p1 w( x2 g2 z
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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) \0 E  y4 M' Z* |% y) M
Refer to last example,
( f' E9 ~. [6 M+ rthat means bank A have no money because we borrow 10 dollars from bank A
. U" t1 N% E/ e0 f  SBecause bank A doesnt have enough cash on hand 1 G  N) c2 n  ]: [9 I) F! g- f$ e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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- ~, X/ ^7 ^) x! M, q& XA->B->C->D->E
9 \$ v4 {2 X8 l1 G5 Y) hso does it mean if E failed to pay D,
8 O& T. _: C! O( i, N" Uall 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,
5 p3 P4 W% ?' w/ V% _in this case it doesnt really matter how much money is created,
) `$ J; t% a* ~& C4 {( r3 e: git's the problem of the debt itself.7 o. ~' e: ^& K- d2 t5 b
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# h& R0 v4 {3 j# |
小弟一直都唔明...
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" i0 q0 R% O# t9 d9 E' L' b全世界都蝕錢，咁邊個賺緊錢呢?
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" S: ^8 \1 _( x3 @無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答3 s* I5 W$ ^( l" f

  e4 S, Y2 ^) cThanks

# K& j1 q: ]4 I那些根本係 紙上財富  
# I6 H/ q% L* ~% ?. w+ a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 v5 z9 D& ^7 m* z

6 K- S$ l1 v' c; D9 U& rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產0 ^$ `/ H2 t5 ^0 U2 L, l
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- c  O0 I, [7 C8 g$ G6 p
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' [! x! h' C6 E! |" {
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) s# r  |% ~1 }: t0 b扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! ~) H  _4 J, y$ u
計番回報率就已經係50%,所以可以好好賺' Q  J- v8 ?3 s; r
前提係銀行之間要互相信任先可以咁樣借法! L# w2 p0 a# r
同埋個市場既前境要係好先得
3 i8 C3 n7 F' p0 @但當經濟一差,公司估值趺了,物價不升反趺
$ D; t2 ~2 f' D3 o例如剛才說10蚊的, 趺到得番9蚊,
) ]: l. p7 X: g9 C* G) D# L咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* x) Z7 P8 U6 F4 z0 f! Y: m# m* M
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,
! P8 N& J* N  u1 q0 f- o* \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,
1 K  f) X; B0 s3 S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' j3 E: ]( g: N5 ~: r: o
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 ^4 J* a% J3 m6 u5 A- d, l
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 E9 d. V& v" C1 `: V' k( x
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ I. |# R, i- _9 _  U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* x. r9 D' m' 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& n# U* f: ?3 v
咁你話d錢蒸發左去邊? ...

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正係咁樣
% I9 }0 @4 G) P# J) Z/ s9 P" D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
; F6 m4 x8 i' a& l% \( x% m分分鐘佢地唔使還錢' l* M$ i" o; T- ?- F1 E( p0 n
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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,
, f5 Z% F: `7 ?, h連國家都係問人借, 不停發債券, 印鈔票
" U3 W( y  C2 ^' n( ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) A1 L- m% T7 z9 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
% n6 @' E. U) e0 \1 E7 h8 p- E咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) _% K" [0 H. O, i  u3 t' W  r. B
因為以前未生產, 先消費7 x8 E9 F, T4 z* D* g: Z
而家就要多生產, 少消費