0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 e# w6 t4 K/ P& w' `- {5 FWhy bank will sell 借據給第三者???
/ b2 D  T& b0 i( ]I was so confused.....

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3 q, {: I" A5 a: y; O& i講到尾都係賺錢( H: A: A6 H9 ^7 H
so銀行可以不斷放款
8 u9 J  A& K! y美國的房貸問題散佈到全世界- H! }# l% Q( d8 l1 n
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mortgage loan
" a1 [/ t4 A. X  z>conduit
4 V% W3 T4 I! Z/ f# d0 D' Y6 S>RMBS(Residential Mortgage Backed Securities)
& ^3 O* K- v$ e& G+ B: S$ x% z- X>arranger8 V( v% g, d9 o; t$ V1 H
>CDO(Collateralized Debt Obligation)
3 d; e" J3 R/ i: n% l& S最後去到投資者

Kev

i thought it is the reason of rate of return.9 w# F3 @( c; J
CDs could have different ratings, AAA -> F,8 z, R0 p; E$ _% }; x1 V) I
more risky ones would have higher premium (interest rate) as a compensation for an investment.& I8 E- N; ]7 {) c9 k; W1 A  T6 S
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. H$ G# W  n: [7 r+ k$ S& e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  f' m2 Q( \8 \4 [( TAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% Y6 |% ~) X" y5 N) T
similar to bonds, CDs trading in the secondary market have different value at different times,1 v( g3 M+ W3 b
normally the value is calculated by adding it's principle and interest.
# F! m4 ^7 Y# C+ K; Aeg. the value of the mortgage+the interests to be recieved in the future. 4 A0 w9 q# B# k. K
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.8 T, i' G4 o) k7 h0 r/ Y! g5 b
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im not quite sure if the multiplier effect does really matter in this case.
5 x- c3 D$ C# F- k: c6 ein stock market, it's the demand and supply pushing the price up/downwards.0 h; C) K1 K7 u9 S% g2 W
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' r! k- ?* {1 A0 ^$ _A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 d# [/ L! Y" M% X  _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 Q5 M; P1 I7 ]. ]: R% K) a' i/ h
but the value of their assets did really drop significantly.
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! h2 d. s: Y& s& K. p& s0 \; ]3 C[ 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.gif4 E' b, o% {  J# ], u8 I" @
Refer to last example,
/ s( c5 f, f3 F% W9 O+ Ethat means bank A have no money because we borrow 10 dollars from bank A 4 Y0 }  q5 t3 Z& ^0 ~  D
Because bank A doesnt have enough cash on hand ( O7 H, }. d( A0 b  u
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 g; e' G* u; y9 k' u; h9 w
so does it mean if E failed to pay D, ( `/ s/ W% c# o- a
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,
/ c' r! r+ _7 Y; iin this case it doesnt really matter how much money is created, " b7 _' W' Y( e! E8 W: X* }
it's the problem of the debt itself.
% n. g, B* d$ S% ^6 g9 w% ?9 u8 gthe 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 Y8 H1 W/ D4 p2 E/ S0 a; F" f; v小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?* o! e  o* o. @4 m0 ~, E( j" }5 Y

* v% m) |/ s; q- n0 N3 Y) X8 g無可能淨係有人蝕錢無人賺架嘛..." V8 o# Z' T) ~: l3 ^0 U2 R
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敬請各師兄解答
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Thanks

4 o' }! F( p) ?  v那些根本係 紙上財富  
. E) T+ ^- V1 Q( K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& N9 N6 Z: A: @" Z5 M
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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
; L% w. i5 p" ?1 b# x當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 G9 w. V! v9 d4 z+ G6 H
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) {9 c0 e; @; i+ Z+ I' k& c, g4 u
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 A" c9 r; R, i
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 Z/ {' I* V. A$ K0 Z
計番回報率就已經係50%,所以可以好好賺/ `% t# J2 V+ R$ ]0 W, m0 I
前提係銀行之間要互相信任先可以咁樣借法% D- `+ d0 c% @% ^. u9 ?0 k
同埋個市場既前境要係好先得2 B4 Q, _8 U! A( U
但當經濟一差,公司估值趺了,物價不升反趺
9 I+ C6 S- Y9 Z. ?& s例如剛才說10蚊的, 趺到得番9蚊,
) ~; m4 V: h. ~9 p& Y6 b% I3 N+ W! M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 Q. r" O6 }- Y* m) L$ y! Y4 ?所以你就會覺得D錢好似蒸發哂咁
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% P' |/ g0 Y) k4 ?! X8 [( N: A你都可以當標野咁諗, 個樣野多人可以狂升值, + H, k5 ^& i  _6 o1 Z
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, 5 |: |+ K* L+ T; b8 C6 A8 L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! h( Y" W/ c* D6 j  p' h
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( g6 s& ]( {( 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.gif) [0 d% I& c9 m# o& O1 x
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! \& [; O6 e0 e) X' P% e+ d* {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) h  H% Y/ ~1 c' E& 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$ k6 w5 s; W1 ?0 T9 a! o, u
咁你話d錢蒸發左去邊? ...

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正係咁樣6 e  x! _  L" A2 ^! F. u, |- R! r
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0 A9 I1 ~0 `9 q
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,
3 N  @- p5 ~. b! |, C# x連國家都係問人借, 不停發債券, 印鈔票
  W* m3 Y* A' k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) l( S! B) O+ j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.gif4 R7 }+ L9 j: s3 {6 X
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ Y0 v0 e# t$ m
因為以前未生產, 先消費0 X( n* z% d; M+ ^( \4 g
而家就要多生產, 少消費