0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ G5 v* j# X( l. ]0 }) v: t
Why bank will sell 借據給第三者???4 G9 N  ]- i+ ^( C) k
I was so confused.....

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: ^1 ^7 z2 N5 i9 v0 A" c講到尾都係賺錢
& S- }- c1 o3 ]9 f4 K4 c- iso銀行可以不斷放款
" h6 M3 s6 I. O9 W: l: C美國的房貸問題散佈到全世界( M. L6 s  e  c8 A7 G( R1 j& Q, R1 p
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mortgage loan 5 W/ }* ^5 f2 \$ q  U0 r2 L
>conduit
. p  g0 N  d+ N. m: n>RMBS(Residential Mortgage Backed Securities)
1 O: o: N+ Q7 t2 G8 n7 `" u2 k" C# C>arranger
# D9 e. R) i3 B1 k3 P6 T7 q>CDO(Collateralized Debt Obligation): s% e3 L; g! E4 H
最後去到投資者

Kev

i thought it is the reason of rate of return.( D5 ]2 B( t9 Y$ n" g9 d* [& L, j& D% i
CDs could have different ratings, AAA -> F,& m% L8 m8 P$ |7 a2 \( x! T
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 Z5 h: ^% b! {  d. xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! X2 q, L0 I3 ?) s$ \$ x, Z6 ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) w  @! x4 Q, F- h7 F
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 o% v$ J$ _( m0 F
similar to bonds, CDs trading in the secondary market have different value at different times,/ z5 }% n: E0 o( z* E6 d6 \
normally the value is calculated by adding it's principle and interest.
+ ]" s5 i! S, g  f4 a+ f' a, `eg. the value of the mortgage+the interests to be recieved in the future. / L3 J& v; H: n8 K4 M
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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: y$ }6 c9 C' T) Z0 Aim not quite sure if the multiplier effect does really matter in this case.* l) ~* ~3 I  J; O5 W( k' @
in stock market, it's the demand and supply pushing the price up/downwards.* M5 z4 V) X# Q  i, K$ ~2 M6 v
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 j7 x' `6 h2 l. w8 r) ^A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 e( T1 @" [, ~, J1 d6 `3 e! UThe 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. " x8 m, H8 A- A/ H4 N- a6 S
but the value of their assets did really drop significantly.
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! |# i3 t: i- _& l( C2 p[ 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) X8 q. B6 l4 Q9 |
Refer to last example,9 r5 Z6 D! c5 F2 s  d9 j( v) w
that means bank A have no money because we borrow 10 dollars from bank A
: ?! R5 j6 W- I0 pBecause bank A doesnt have enough cash on hand
6 t* \$ q5 n1 i0 k6 T/ Qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E7 H. K7 z. D8 }$ V2 M5 }8 \# D& E
so does it mean if E failed to pay D,
( R8 f' k2 d+ e% O& kall the B,C,D,E have to go bankrupt?0 z& e8 ^0 a; ~
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the multiplier just tell how much money created in a whole economy, ! D0 j$ @$ Z( M. o6 Q
in this case it doesnt really matter how much money is created,
! @( f. ?, A+ h- ?' H% {it's the problem of the debt itself.
0 `* E( [, d# s- f, d# kthe 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.gif8 F2 r, ~) q% C) t/ O" E1 {: M
小弟一直都唔明...6 a) I# U1 Q/ X$ j2 V! W3 o

9 s; B" u0 Q; m6 o全世界都蝕錢，咁邊個賺緊錢呢?$ A4 G; V+ ?* C( \

# R# S5 S( B" V; x) X無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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. p. x. J# V/ c2 B! D0 @Thanks

/ \/ e4 x. Q; z0 Z9 L那些根本係 紙上財富  
0 d0 X& u  @' R# `# y. P6 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. z0 _& h$ R9 R: m+ ~

* d4 |' [+ ?+ Y4 w  x; ^7 Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產. ?; T  U5 F/ n
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, D& }4 u0 M8 H4 a! T
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
% C, H0 f) F+ V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 t; m1 E9 T- b- k0 ^" D' r$ B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) B4 J6 g8 @, @, k
計番回報率就已經係50%,所以可以好好賺2 a# F. I) u& [/ B# e% q, v: A8 ~$ @
前提係銀行之間要互相信任先可以咁樣借法
9 ?6 o( [( g' B5 |& y8 ?) l同埋個市場既前境要係好先得
( @6 v$ c% `% N9 Z1 m但當經濟一差,公司估值趺了,物價不升反趺4 E$ M& \3 a! M5 L1 G3 U
例如剛才說10蚊的, 趺到得番9蚊,
# V9 W' b. W4 y- K7 c咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; G4 ~2 G& m+ \
所以你就會覺得D錢好似蒸發哂咁7 s. C: @' S( _: Y
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你都可以當標野咁諗, 個樣野多人可以狂升值, ; d, t$ o' `( u) ?! B- h
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, , ~& v8 ^5 f% K, F$ g& h" e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 j  [4 d% N7 U7 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6 q- r+ T, ]) X2 {4 |
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
8 @, w& M5 R/ }' G/ S% M, k5 Z6 f# Y8 g: e唔係d錢蒸發, 而係比美國佬洗晒未來錢, + s4 B; e6 r4 I3 s% O1 P  H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! s8 E4 K( C3 Q- u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
* M+ B1 ^, d2 ?) Y6 s2 ?1 y6 p咁你話d錢蒸發左去邊? ...

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正係咁樣
$ ~: H1 {1 E% w% ?- |  m0 }, [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 l4 r$ F0 W& a6 g2 U
分分鐘佢地唔使還錢
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0 D" `/ s* m! a9 J1 ?5 S' b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,% r8 e1 {! G$ r9 ?! @/ }* O
連國家都係問人借, 不停發債券, 印鈔票
6 _+ |- Y/ y- H一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 N; X, H0 R- B) H7 g! U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
* \# @& E# Y& J( [咁而家"爆哂煲"算唔算先至係變番"正常"???

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% a. H( d/ |: b# S' R其實係...
' H$ n; A' ]/ a3 L& E0 U& G6 |因為以前未生產, 先消費
7 j4 g" k/ X! ]而家就要多生產, 少消費