0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" k: r: O' }0 g6 w4 {+ ^Why bank will sell 借據給第三者???
! t; a- H2 t" I  O1 \I was so confused.....

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, D$ @& A+ [4 B/ L2 f' }2 F講到尾都係賺錢
' H) V. c7 c' O- D4 Oso銀行可以不斷放款
5 H) Q; `  j+ |5 h美國的房貸問題散佈到全世界
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mortgage loan
8 F! M1 ?# n) g) Z3 ?! ?>conduit/ S. M1 z6 [! K
>RMBS(Residential Mortgage Backed Securities)' m* B) ^5 o0 T: r8 k$ t
>arranger
% \& S3 k% ]: y: g' K: u& V>CDO(Collateralized Debt Obligation)
" I+ P- Y& R/ ^, y最後去到投資者

Kev

i thought it is the reason of rate of return., ^0 I9 V" F2 ]. m7 X: K
CDs could have different ratings, AAA -> F,
7 O' f0 I# K; Q  kmore risky ones would have higher premium (interest rate) as a compensation for an investment.. p  [* k& D/ v7 w8 j5 l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: p7 V2 p: d! R3 r+ X: v( Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( @" Q& C6 A4 J9 ^5 P4 PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* L3 B* U* s4 Bsimilar to bonds, CDs trading in the secondary market have different value at different times," s2 J5 l! D/ L9 V; P* e$ E% q! M
normally the value is calculated by adding it's principle and interest.
& f! A8 B7 `" ]% n) |) ?eg. the value of the mortgage+the interests to be recieved in the future. : F  s: P2 T  e7 O% [- q2 X- 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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1 `, Y% ?9 ]& x# C) @im not quite sure if the multiplier effect does really matter in this case.8 d; W) D- H% }" }' w: M
in stock market, it's the demand and supply pushing the price up/downwards.5 L' V2 _6 q$ @2 V% W' [( H* b* O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 h/ l  r' f* p
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! }5 r" g1 V- M9 S! x6 C5 F" SThe 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. - V, \0 [* h8 L3 @! g0 ~4 G
but the value of their assets did really drop significantly.( g! g* ~* D2 h: O/ z+ K9 {
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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.gif0 z" `3 [3 O7 ?! q
Refer to last example,  G! V; Y# k& U
that means bank A have no money because we borrow 10 dollars from bank A
/ B& c7 Q# r# X8 BBecause bank A doesnt have enough cash on hand % x1 m3 A% e" ~. \/ R
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: l# N8 W5 A5 t; \1 h0 V$ qA->B->C->D->E
! ^' y5 D6 p- d9 K2 O5 iso does it mean if E failed to pay D, * G% b9 j. w8 U; D
all the B,C,D,E have to go bankrupt?; C( R- J1 [% I+ c# D# e
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. F9 y8 x% ~5 D! I! gthe multiplier just tell how much money created in a whole economy, , t+ T8 M& L9 G4 \( _! f
in this case it doesnt really matter how much money is created, 7 N% X' o+ p% ~/ C0 U. }0 g) M
it's the problem of the debt itself.1 k+ t3 Z1 v. r4 z  ]' }
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.gif9 e6 N' v# m& d3 }. c
小弟一直都唔明...
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6 N" X. `+ u; q3 b: C全世界都蝕錢，咁邊個賺緊錢呢?( X0 J) j4 }. E4 n# I7 b1 w
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無可能淨係有人蝕錢無人賺架嘛...+ y1 h- L* f6 [* F
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敬請各師兄解答% l8 n9 p$ i' n$ q
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Thanks

& v+ i: d3 A3 A+ }9 N% O( \那些根本係 紙上財富  
5 v+ ]* ]( L& A9 n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 graphic5 c, A" b8 c( ^0 f
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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
% }7 K4 M% V6 K! x/ v8 X4 B當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: ?; M) o8 `1 E0 x; }% b$ n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6 ?2 E3 }/ N) P+ |- `, A
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) ~' [5 ^( d% M! p) K
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' n/ E9 ?) `( {8 o$ L
計番回報率就已經係50%,所以可以好好賺
2 }# O/ h2 C' L9 D" V- ]前提係銀行之間要互相信任先可以咁樣借法
5 H' N# s: z4 x: b6 i同埋個市場既前境要係好先得
$ s( I: n0 S0 Z2 \但當經濟一差,公司估值趺了,物價不升反趺
! i9 }8 J- {, L5 j! G0 g  h例如剛才說10蚊的, 趺到得番9蚊,
. a; I  p. ]2 Z0 j咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, a" Y$ H5 d" a( _& u# O0 f
所以你就會覺得D錢好似蒸發哂咁
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# W+ ]) H+ ], [' e  f你都可以當標野咁諗, 個樣野多人可以狂升值, & A# x4 p; p4 ^. 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, 4 Y/ s3 @# N- {' v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! o: k" X: n* B# o8 f
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
: o/ b) F) W  Q" G" n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
5 N3 S! ?8 j- l0 G' a4 O& b& [5 O唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& V! i* K4 L" F/ l6 ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& _, [+ ^% l; r4 E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/ t5 _" M. M+ D4 o
咁你話d錢蒸發左去邊? ...

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正係咁樣: D% Q) ^5 b, n& b
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
7 A/ d5 X) a# E4 g, n分分鐘佢地唔使還錢/ n: |/ g! `- `, z( {! z! A
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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," h# `  q3 X6 ]& Q5 S3 ?. S$ V
連國家都係問人借, 不停發債券, 印鈔票
6 ?& I9 e3 p8 \. K; S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! `9 F  E- s2 |$ R* D' O, H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" [- Q) i) O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
9 N7 N! x+ g( M因為以前未生產, 先消費
- Z! N+ r3 _7 C, @, F而家就要多生產, 少消費