0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 L2 k" n, v9 ^. A3 w4 b9 r1 DWhy bank will sell 借據給第三者???
2 d* O- o2 E! h- SI was so confused.....

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6 B1 E7 R% m! J/ F5 ~* ]& r講到尾都係賺錢
2 a- Z1 b5 O$ [' Y& vso銀行可以不斷放款. F! E0 M+ }0 `. k/ ~0 I" U$ N9 v* T
美國的房貸問題散佈到全世界9 c$ i2 A& v/ b) z8 m8 R7 z

' G3 M  C% R& qmortgage loan
" I4 d# [, b7 U2 c# B0 \2 M" g>conduit: ~+ a$ N4 G7 N0 S7 [, T
>RMBS(Residential Mortgage Backed Securities)
+ t7 t! G, r0 O. x) k5 c8 X9 ~>arranger% L0 [; X; e$ y* t: T9 H* f  V
>CDO(Collateralized Debt Obligation): I' p( m3 l& O6 U7 M4 O
最後去到投資者

Kev

i thought it is the reason of rate of return.2 W4 D: |7 p. `% ?- n2 a8 A
CDs could have different ratings, AAA -> F,
: P8 I7 e3 b- q# E: @; L  z3 S5 g+ {more risky ones would have higher premium (interest rate) as a compensation for an investment.1 ~1 h8 o# O  i* q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 Z- A& ?6 y* q+ Q! Y$ d8 Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 o3 ?: Z% I8 U9 c1 V$ M, c. h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ z8 t- d8 a) m& w; E$ n! P+ G0 esimilar to bonds, CDs trading in the secondary market have different value at different times,5 }0 a; s* y6 D1 R/ o7 a
normally the value is calculated by adding it's principle and interest. 6 c9 c  e7 c( S7 m
eg. the value of the mortgage+the interests to be recieved in the future. + z5 U0 |3 W9 X6 v
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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: [. {+ v* g+ x' D6 Z5 i6 T; Yim not quite sure if the multiplier effect does really matter in this case.- t% S# s* G! t
in stock market, it's the demand and supply pushing the price up/downwards.
6 w7 M  B- E( b' ~4 ZFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. D" A# S" w3 P# k" k# X: c
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 Y& _; [. _6 Q; b# T
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. & `  B% C5 K% `0 D7 D- K7 c
but 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
; ]* q$ E' ~! W/ m: u. S! Z7 NRefer to last example,- ?0 f- t% R" l4 d
that means bank A have no money because we borrow 10 dollars from bank A 4 l2 {3 s9 K4 O& w. q3 K+ C4 d0 f
Because bank A doesnt have enough cash on hand ! p- W% s, W* q2 ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E2 v% G# l0 {7 ]: b7 M8 w
so does it mean if E failed to pay D, 2 a( R& \: S9 ~9 i+ W1 W% A2 U
all the B,C,D,E have to go bankrupt?
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( L: [0 {; `+ dthe multiplier just tell how much money created in a whole economy, / k5 H) c- V( q2 n
in this case it doesnt really matter how much money is created,
; v- }9 {% _! t* C" g# S! I- B9 a0 R8 Uit's the problem of the debt itself.  c! D0 G$ D* [
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) P, x9 g0 T5 B6 I& i# O
小弟一直都唔明...
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& N+ z9 W  l7 y2 N& m/ C全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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& e, m2 S+ Q4 f9 d& H敬請各師兄解答" q3 O  G8 |# X! W* U

1 D7 W) t( e! `) n' IThanks

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那些根本係 紙上財富  
5 g4 [2 h1 U; [/ f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
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  X* _( p( K9 P. }# {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
$ \- K4 h. O/ A2 r* f  a& U當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. _$ R. k, u" V+ R* f* y! X" V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
) K* j1 z5 h4 S1 u% c3 C個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 i8 H* s2 U- i1 b
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 ~. n$ {' U4 f9 M* r: I4 N計番回報率就已經係50%,所以可以好好賺5 R0 H- i  @# x3 `+ |, L# F% u
前提係銀行之間要互相信任先可以咁樣借法
3 ]8 n* h4 _. u  x. `$ c. q3 ~+ v同埋個市場既前境要係好先得
# V+ S5 E* C7 |+ P8 \8 m但當經濟一差,公司估值趺了,物價不升反趺! y5 P5 n' D' F( v! @1 N
例如剛才說10蚊的, 趺到得番9蚊, 0 U/ Q9 v  }: n4 M7 H  M# n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ w, X$ h! ]! s$ Z5 m# q- N
所以你就會覺得D錢好似蒸發哂咁
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1 z- r' X$ H/ p你都可以當標野咁諗, 個樣野多人可以狂升值,
) O; b- ]0 [3 ~2 F( b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,
6 O# b' m, G4 }( J5 H' M) }) ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 g8 s" x- p0 X+ i7 w
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" n9 D3 c6 P4 E$ i% u
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
  D8 d( f$ X3 T+ C; a唔係d錢蒸發, 而係比美國佬洗晒未來錢, " b$ u2 M  \1 P5 [8 A  `+ Y- y% w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 z' c$ N( t2 o% N! k" o, r% V
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 g6 U2 P7 l5 u7 S5 y% a
咁你話d錢蒸發左去邊? ...

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, g% f  V, s5 D, Z* ~% ?正係咁樣
7 J7 H; [0 |- x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$ \' G/ P* a$ u$ h8 w" I2 g) x
分分鐘佢地唔使還錢8 `1 F, g2 H2 N" `  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,( r2 e- B, |. u0 p2 l* _# g6 J
連國家都係問人借, 不停發債券, 印鈔票
& l+ i6 X1 x2 n. e$ ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) U) ]/ l, l  Q$ q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
9 U; G) D  B$ r) F咁而家"爆哂煲"算唔算先至係變番"正常"???

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, h! l" E) J3 V$ S其實係...) R; L" o  m$ K4 r; g
因為以前未生產, 先消費
  {+ J$ z3 [6 B/ f7 I而家就要多生產, 少消費