0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 b  W  l# J8 UWhy bank will sell 借據給第三者???
& Q! z1 E5 j' w! C- Z: DI was so confused.....

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講到尾都係賺錢) j, D8 J+ C/ U: N3 j  T5 L" v
so銀行可以不斷放款! L" Z2 g- x8 k
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)3 g8 P/ P1 \3 Z2 Y/ U5 M7 ]9 j0 o
最後去到投資者

Kev

i thought it is the reason of rate of return.  i' g; q+ Z8 T+ t: k" E: G$ U/ w
CDs could have different ratings, AAA -> F,
9 T9 b( z0 \' T3 }# z0 d/ ^more risky ones would have higher premium (interest rate) as a compensation for an investment.
, V" y9 u- ?4 x8 U& ~; F+ mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) x0 W" j) Q) ?* l, v' t; G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 r6 V: e4 {% O3 Q; C8 ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  h; N+ U$ @9 j
similar to bonds, CDs trading in the secondary market have different value at different times,
. R- y# M9 u$ G3 Z9 Pnormally the value is calculated by adding it's principle and interest. 8 O& T  }5 O" e0 ~+ o8 @
eg. the value of the mortgage+the interests to be recieved in the future. % A) N" v  a# \6 |3 A0 g
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.; p8 d2 R1 E8 e' M1 `) q# e

" K* w1 O' c1 u4 fim not quite sure if the multiplier effect does really matter in this case.
% Z# x0 Y& V6 i& ~( \7 fin stock market, it's the demand and supply pushing the price up/downwards.- T/ @7 X# i8 l  {
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! s4 @- }: |1 A  c5 HA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' j0 j8 g0 C& w: D; J# hThe 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. - }( p8 e) K4 h& O
but the value of their assets did really drop significantly.1 \" `' ~. O$ h- p: B/ Z

5 b' E3 @/ B9 i+ B$ n/ ^: l% V[ 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! ~+ u- n7 P
Refer to last example,
) o" u7 V% j1 n+ d( `, _' hthat means bank A have no money because we borrow 10 dollars from bank A 3 X% w& P" t/ Y3 U) [4 b/ H
Because bank A doesnt have enough cash on hand
: m1 C  Y& U, b& u* D4 itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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; o5 k+ B! u! a8 m8 o$ N; n5 PA->B->C->D->E" u- a; L1 J9 n1 e% U  s3 I; _7 l
so does it mean if E failed to pay D,
% ^; }7 x5 K/ ^( C6 X1 K. Rall the B,C,D,E have to go bankrupt?% w# f6 z" a% u; {5 r$ m

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the multiplier just tell how much money created in a whole economy,
4 {( R7 q% {; ]1 T! j0 D) Cin this case it doesnt really matter how much money is created,
) j  m2 K+ k/ A/ b2 Q. C0 l+ cit's the problem of the debt itself.' ~4 c8 w* r( K# }3 y# i) J
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
7 c; I$ {# c6 T( `% q/ S; l) M! O小弟一直都唔明...
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" J- B* h, K1 ^5 E+ K全世界都蝕錢，咁邊個賺緊錢呢?0 A' J- B6 k4 T& M4 w( T& C
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無可能淨係有人蝕錢無人賺架嘛...$ f* }" x) f% Q# ~: ?( o6 \
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敬請各師兄解答
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Thanks

5 I" a, \9 c7 o/ c4 V+ w那些根本係 紙上財富  
% O% q' n; a4 z; d" p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# D" o/ J( Z! M) P" H8 y" q
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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
5 @# t$ g+ G; H+ Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! t9 E2 s0 |( i/ u$ S5 p  K
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
3 ]1 y3 F( P+ U/ X5 v  X個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" B# L: k0 Q3 Q8 o( Y# }" Z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 Q- l  O6 R. d( y
計番回報率就已經係50%,所以可以好好賺4 T& d, J' S# |' v0 N  M
前提係銀行之間要互相信任先可以咁樣借法
) j0 x: \9 ^  |: w) L同埋個市場既前境要係好先得' y9 I& r0 Z' {- F  D
但當經濟一差,公司估值趺了,物價不升反趺1 g2 m7 V. {% w/ R/ Z# c
例如剛才說10蚊的, 趺到得番9蚊, 1 W1 M* f0 `; }4 A2 b! h% a8 B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 l, |+ O$ e' g! v* A& S" ]
所以你就會覺得D錢好似蒸發哂咁/ n; b( \0 Z/ G7 Z1 }

7 r5 u- F, G4 ^5 M# Z4 [, Z你都可以當標野咁諗, 個樣野多人可以狂升值, / ]" D% ]' |% o- k6 C1 T
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* ^! @% R, M8 {9 ]3 ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % v' C0 B/ y2 D$ b. M# \" E  z5 T$ ?
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
% ?. O  O8 R; F* F- x1 O& t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.gif1 C& r- ?8 z' `7 F8 m& C
唔係d錢蒸發, 而係比美國佬洗晒未來錢,   f% [+ G# a& S) P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 B" p1 |& s3 O" a$ 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& @1 g% z) ?+ s  i* M( W
咁你話d錢蒸發左去邊? ...

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, ]$ d' M# x) D; P" }正係咁樣4 F9 R9 G! B0 P2 O+ H' N6 y$ h
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; O# ?' E& r! m& L. ?/ c
分分鐘佢地唔使還錢
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/ g( V- y/ t6 r, P( u  |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,
- v+ ^  g! I0 B( N2 |連國家都係問人借, 不停發債券, 印鈔票0 k) D% Y4 j& ]* O! n  l- ~/ Q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* C& r3 j, M& o1 N) _# O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. Z! B  W2 V  ~) i& O  e$ J( P9 W& q, L9 g
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
4 a# @3 L. Q& @! h2 L: L- l因為以前未生產, 先消費
' d/ f1 b4 h  y7 k; J3 O$ |0 B而家就要多生產, 少消費