0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 ?' u7 b: a! p2 L5 o% D
Why bank will sell 借據給第三者???
6 P9 ?* e- e3 Q& ?I was so confused.....

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3 j- x1 \1 ]% J( J& T' x# \講到尾都係賺錢  q3 {7 j: H  g  c8 a7 p& o" E
so銀行可以不斷放款
# m3 ~+ y/ X( M美國的房貸問題散佈到全世界
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mortgage loan $ D4 j8 E* m* n, g& X; B
>conduit
* P, v& J! K: ]& ]" P; r>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
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Kev

i thought it is the reason of rate of return.7 Y+ q5 R5 |4 w% ^. h) T3 b' e8 x
CDs could have different ratings, AAA -> F,
6 X" z: [! _% c7 m( Vmore risky ones would have higher premium (interest rate) as a compensation for an investment.
" L( c' v, M  q, L( K* }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( B. p. r' i2 C& r2 j4 b& @; N1 \9 b; ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- C) `- O3 F7 z2 ?: i7 tAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, K: z* t7 ~: `5 A% l2 esimilar to bonds, CDs trading in the secondary market have different value at different times,
/ [$ F8 h' ^8 `; e! hnormally the value is calculated by adding it's principle and interest. ' K3 w2 k8 C" m9 p
eg. the value of the mortgage+the interests to be recieved in the future.
# S6 m& s4 w2 U! obanks 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" A9 X5 ?" A9 U* t# V: {im not quite sure if the multiplier effect does really matter in this case.
2 t) W1 n, x( a" `- bin stock market, it's the demand and supply pushing the price up/downwards.
, P/ [3 w4 k- x+ n1 v! SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, d5 ]0 V0 `3 A# m7 h% OA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
  {/ l- B6 A7 U; F" _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.
$ H4 [! ]4 e$ _9 j: U, B& }+ ~/ mbut 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.gif5 C# }# L2 w6 F& P+ M. u
Refer to last example,
' F9 A6 s6 }/ k& e3 U+ Xthat means bank A have no money because we borrow 10 dollars from bank A
( E  N$ q1 w; t/ R5 X9 vBecause bank A doesnt have enough cash on hand 7 [& N1 v6 V# V# W7 o
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 U6 U1 c  i7 b. OA->B->C->D->E( C3 r) G4 }" {; l1 T4 x
so does it mean if E failed to pay D, ; ^- O2 q6 |$ _: l
all the B,C,D,E have to go bankrupt?# k0 C5 X8 v8 ~. _. L2 h

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the multiplier just tell how much money created in a whole economy,
; L% t) T) X1 z$ P- din this case it doesnt really matter how much money is created,
$ N6 n% h/ ~1 ^0 d# D. [it's the problem of the debt itself.
* N4 E2 V2 \$ ?, ~# Y: w! Z$ cthe 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
- ~* E; b; Y4 k9 ^: d' F) E小弟一直都唔明...2 g7 C6 h- L6 W+ ^1 i

3 @" ?' F) Z( O! p6 ?0 W. B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...7 e$ j$ I, x# {* ~  A& x

7 J. V1 {& j1 V6 \$ L4 x敬請各師兄解答  g7 J. i- D0 f' T3 A3 ]0 q1 _# z
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Thanks

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那些根本係 紙上財富  
2 G# v7 ]/ b8 X5 T: x" r# z" C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  s" w( v  N2 z+ v: i
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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; _* }; `' a& U, C/ ~
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, F% y  G) a3 F$ Z3 s7 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
. G7 f' R- _9 I$ d9 `' u! c- _個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 ]0 Y8 ^4 f" A) x& Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 v  j$ Q) c( W$ C9 a0 S# p2 i計番回報率就已經係50%,所以可以好好賺, B8 }; f0 r1 S. C2 r4 L( Y' F
前提係銀行之間要互相信任先可以咁樣借法
3 k; ~4 d9 x) _+ H9 {; j% U同埋個市場既前境要係好先得& s3 J+ D) E) Y
但當經濟一差,公司估值趺了,物價不升反趺* ?) y9 u- f& h# u1 N7 L$ g) c
例如剛才說10蚊的, 趺到得番9蚊, ' h; t! ^- S0 z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; _% o6 v( r  T: W& z1 S
所以你就會覺得D錢好似蒸發哂咁
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/ X( j3 o3 F5 V& ]# z+ U! P你都可以當標野咁諗, 個樣野多人可以狂升值,
1 W) u6 `- x. o- U% d! g( r. C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 r% u' Z& J+ \) X' I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 q; p5 c6 g5 X7 S+ L) C
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
! [' W1 R/ G' @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.gif0 H- ~. N  K5 I  z
唔係d錢蒸發, 而係比美國佬洗晒未來錢, : K- k" T0 V' \9 t3 q: P9 p: Y. G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 |5 A) k; T2 F& c" c" g; }
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
& ^) h/ ?$ E$ O1 J咁你話d錢蒸發左去邊? ...

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4 q) P# g9 i# a正係咁樣
! `! J  F% ?' V# V( i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
$ a; ]- i/ e* w6 {分分鐘佢地唔使還錢: o) l# [4 |2 x/ \5 I: ]8 j8 c
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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,% ~, n8 I3 X# u6 k
連國家都係問人借, 不停發債券, 印鈔票
0 N) w+ d( X6 B/ d! t4 E5 f% C一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& K4 E5 d* e2 c8 g4 L' v9 F' M) 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.gif
$ n& Q+ h- H, y- a咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 i, \: }, P7 |. z) u, b' Z7 s其實係...# B, r6 O. Z, h0 |
因為以前未生產, 先消費
0 `  n, ?4 p. K. z* D8 P7 ?& E而家就要多生產, 少消費