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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ P( A, Y" v6 S: w8 s5 U9 ^5 H" p
Why bank will sell 借據給第三者???6 [  J, i  O; M9 @
I was so confused.....
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講到尾都係賺錢
/ z, W$ D: \! P+ T* yso銀行可以不斷放款
1 O/ ~! F* |9 b# z( d美國的房貸問題散佈到全世界
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mortgage loan 5 ]) \1 }' o; d5 |5 G: @8 S
>conduit3 b/ {$ p( h& j4 i& J9 I7 H
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation), W+ V, h' i8 A# T6 \# t: h
最後去到投資者
i thought it is the reason of rate of return.' H5 [2 ^& i* J2 h% K) ?
CDs could have different ratings, AAA -> F,2 H$ n, w! j& A. \5 D1 f
more risky ones would have higher premium (interest rate) as a compensation for an investment., Y" d: R, y% b% o  W/ q2 Y" f
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 ?8 s( ~* K2 l/ y) f( D2 k
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 J9 o2 f! I; W) c) h; C( vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! H0 N! W8 n* qsimilar to bonds, CDs trading in the secondary market have different value at different times,
5 a! R7 F# ~7 b( q( ]normally the value is calculated by adding it's principle and interest.
2 x3 g2 g3 a- F% meg. the value of the mortgage+the interests to be recieved in the future. . d# \% D1 `$ c/ v, D: I* Q5 x+ 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.) S1 N2 R# u1 @1 D; _6 [
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im not quite sure if the multiplier effect does really matter in this case.
$ W. ^# X2 C; w0 s9 gin stock market, it's the demand and supply pushing the price up/downwards.: d: \! `2 u) H0 z; ?6 d& T, w; S
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' R  I& B" d; Y5 d+ jA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ D# t& N5 {" j$ V, r/ q! PThe 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; r0 Q4 a( X  e
but the value of their assets did really drop significantly.
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# z* `+ }1 h& m[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 a: B  }6 {* ?' t: o0 E9 TRefer to last example,
. i% M( @% E7 M) O: H! n* gthat means bank A have no money because we borrow 10 dollars from bank A 9 r4 Z6 U8 G# c) r5 J0 H* |
Because bank A doesnt have enough cash on hand
& x1 K* `# w! y# @- c, Z  {therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E. d1 [* ~# }8 K7 k+ N! a0 P" ~
so does it mean if E failed to pay D, 6 f1 ?$ A- _) F. b* j4 w
all the B,C,D,E have to go bankrupt?+ g' L$ J+ |8 O# ~  `
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# l, R) G- N, b; Ethe multiplier just tell how much money created in a whole economy,
. M" l3 |6 {& k: Xin this case it doesnt really matter how much money is created, 8 W5 q) Q' B: h. F' P
it's the problem of the debt itself.
. Z8 w# r0 M6 Lthe debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 ^8 F  J% M* Y( T
小弟一直都唔明...1 k/ I7 F  _3 k/ v7 V* f* }7 h
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全世界都蝕錢,咁邊個賺緊錢呢?6 r* f  k% n1 t+ r. R
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無可能淨係有人蝕錢無人賺架嘛...
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% c3 k) J5 N4 S5 z2 b8 Y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  
6 v/ O/ |. e8 P- _3 E) 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
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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* w! K4 [% i, a" Mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產7 x( c2 u' `/ [8 i. O; u! ^  ^8 ?( i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 d- Z( X. ~, l7 o3 @5 d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
. Y- {2 u/ {6 ?( P) \+ ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 l% z" B2 o0 B+ r) }1 c
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 X6 k$ P8 r- ^7 U7 \! c
計番回報率就已經係50%,所以可以好好賺% s( a7 W, L6 N) z' K
前提係銀行之間要互相信任先可以咁樣借法# O: Z8 y* Z/ ~
同埋個市場既前境要係好先得2 S5 t% [; [, h6 C. z
但當經濟一差,公司估值趺了,物價不升反趺/ {. _$ d( ^4 J$ F) T- `6 p
例如剛才說10蚊的, 趺到得番9蚊,
  \, o/ F0 Z3 V# E9 t1 B' J咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 c" H9 w5 |- f2 l6 F/ ~  P! B
所以你就會覺得D錢好似蒸發哂咁
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+ o* U7 k" A9 T1 O  O" i7 O你都可以當標野咁諗, 個樣野多人可以狂升值,
" A# \& `, D( b4 H+ S) j1 {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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ B1 E1 l1 L; t) P# o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( ?! V4 t- o0 P; S
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 K! D2 e  I7 d! S6 p5 X咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 I" }9 i; I* s唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, M# \, V( x, Q$ |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" y" A1 C, {4 n7 `5 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
  C+ F+ F. z. T咁你話d錢蒸發左去邊? ...
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; i* S' Y+ ^, w" V正係咁樣
( M: I0 [- i0 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' N% ~& B4 N; h
分分鐘佢地唔使還錢
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2 @# e( V9 Z0 y. K. n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 |! P% v0 u( V8 n+ H
連國家都係問人借, 不停發債券, 印鈔票5 z6 T" g) l9 c/ b
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# T% J! C6 `# t0 H編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif  m" K1 y1 z" M! t
咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...# m+ i' V% t$ _: S3 `2 B
因為以前未生產, 先消費
8 G. {4 w' ]4 @" @3 c3 F1 Q而家就要多生產, 少消費
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