0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" j1 m4 t. Y, P6 ?Why bank will sell 借據給第三者???
& t! r2 T5 ~3 N! b0 T) NI was so confused.....

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: B0 ^' X4 l- s" I講到尾都係賺錢
' x/ I! s0 `3 ^! H3 {, ?% Lso銀行可以不斷放款
5 ~# u' [  t9 J3 q) l5 W( u美國的房貸問題散佈到全世界+ q$ F5 [2 Q2 X# j1 h8 ?
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mortgage loan
4 @, \# e0 ~; y" J>conduit
' }; _5 w/ Z6 R; c8 A>RMBS(Residential Mortgage Backed Securities)
6 _3 M5 y# y9 A$ E- m" K8 e! p>arranger$ ^% V; @3 |8 Q! G7 A  u1 R  B& e
>CDO(Collateralized Debt Obligation)% {# \1 m# E0 J% @& M4 e
最後去到投資者

Kev

i thought it is the reason of rate of return.: x9 r. Q% d( @1 @( ?  D
CDs could have different ratings, AAA -> F,6 W6 e# Q6 y/ M0 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 T" X/ v6 {7 U% a5 ]main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 q1 g8 o$ |7 g4 H& I# G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. P) Z; @7 B0 J! y1 Z3 B
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 a7 A: T! ?' Q/ V1 Z  T6 A
similar to bonds, CDs trading in the secondary market have different value at different times,% {! V4 x( q5 ?; n4 w8 s
normally the value is calculated by adding it's principle and interest. , X  Q' x, W# i# ?
eg. the value of the mortgage+the interests to be recieved in the future. ( @( u) U! ?3 T
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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im not quite sure if the multiplier effect does really matter in this case.
" S! Z1 A( L1 m( r0 r( f* F7 [4 Pin stock market, it's the demand and supply pushing the price up/downwards.
  Q1 Q' u9 |1 s/ uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- B7 t  a. m9 r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! J3 ~* E5 P" }! S: U) \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.
! z8 A+ U* b: _" _4 C* pbut the value of their assets did really drop significantly.7 d( J# P8 x4 p* l0 i. ?

$ O* K# m7 Y1 I2 o, T[ 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% T( N& I; R& M- N' S# z
Refer to last example,
7 V' e& R. h6 J  {2 dthat means bank A have no money because we borrow 10 dollars from bank A 7 V- ]2 t6 k" Y' I  z1 I
Because bank A doesnt have enough cash on hand
& X. |3 D6 s5 K9 H' g, G, `) U3 |0 vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E' `( S8 Q8 a( i! f
so does it mean if E failed to pay D, " L/ [; w1 k; |( K" R  h6 l2 l+ N7 l
all the B,C,D,E have to go bankrupt?2 _) x+ ?, p9 x- }
) [7 t/ W) ]4 E8 N8 [

& t. a1 S  r4 n- Q+ othe multiplier just tell how much money created in a whole economy,   E/ h( g& z) y5 d% Z2 q' U1 ^
in this case it doesnt really matter how much money is created, ( B; J5 T* |8 m% K, N* ~3 J
it's the problem of the debt itself.
9 x) @5 M8 A5 {/ B1 s. @0 a, ^0 hthe 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
( _6 \/ |) m! z+ X5 u/ t  T小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?/ M6 x4 o6 U- w2 Q8 z1 i
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無可能淨係有人蝕錢無人賺架嘛.... `$ F- N- b4 g0 N

) ^5 H( p- ?! N% H/ O" x敬請各師兄解答
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Thanks

3 ?0 p5 Q/ M! A" z那些根本係 紙上財富  ) E/ F* e4 _, w+ V8 V! O7 b
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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" l5 V9 i. v& D" E! whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產( V+ U; I; A( Q; j' |4 @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  h" e) ^+ h8 j, f, Y3 s
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
$ |0 f2 F/ T1 o6 C  A9 z: L' G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* N6 z: s2 i; O5 `: D- l$ d" K扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' f5 _7 m# X" B1 h) W$ S計番回報率就已經係50%,所以可以好好賺
5 p* J$ P* Y# c  H' X前提係銀行之間要互相信任先可以咁樣借法. l; k* b9 g9 ~" i6 n
同埋個市場既前境要係好先得
, [) B6 [/ x1 z) f. o: b: w& J8 I但當經濟一差,公司估值趺了,物價不升反趺
" w, V8 h( B5 u2 I) t* n/ A, b例如剛才說10蚊的, 趺到得番9蚊, 6 i+ X9 d. p& n) S
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  {$ O3 I- f# Q( ?. F3 I/ }
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, - L2 T( B1 z  O6 R
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, + V' m$ t! F$ n. x% h. L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( o+ ^" n, T1 {8 t1 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- L+ j) n1 X- h4 f8 k
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, k0 C2 m! `8 T- |7 D, S) D
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 i0 j) }8 t- H! ^$ ^5 d* P# S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + i( d( _& h, v' 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
/ X6 L# [! f; J- n4 M咁你話d錢蒸發左去邊? ...

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7 q- w/ y, D6 q+ w9 _正係咁樣% R6 v  H# v' B3 z- r7 \
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
8 f+ g* l/ ^) j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,
' r, n: w, S  [* W. {$ k8 B連國家都係問人借, 不停發債券, 印鈔票
$ @. H' W  L4 c0 }8 A3 p! O# t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. I. w; S( M, v1 A
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( q  }, h- v$ H" v" F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 Q; O& m  K3 h5 g# K3 z6 }& O其實係...
! u4 Z! J4 W1 H因為以前未生產, 先消費
6 s+ a( E: |5 |5 j; x' X& z而家就要多生產, 少消費