0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: |- C4 p5 P( H4 m1 [Why bank will sell 借據給第三者???
- W3 i# Y6 B$ w) H$ A/ e2 {5 r0 |I was so confused.....

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0 [' x+ m% J/ k講到尾都係賺錢
# W) \- A( D/ R' z) hso銀行可以不斷放款
! ^8 `* i+ X# K; o* c  ?- i$ @6 [4 f美國的房貸問題散佈到全世界2 {; Y4 w. H+ g! q6 g& s" p6 z
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mortgage loan - F. n; k/ U  G: H
>conduit
$ f3 m2 R  _6 _- S& q# E! a0 E>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
2 [9 h( |' o* i. Q/ {( }& s' I) `最後去到投資者

Kev

i thought it is the reason of rate of return.
8 b& W; q9 `' `/ zCDs could have different ratings, AAA -> F,! r6 m2 F/ a# i9 c
more risky ones would have higher premium (interest rate) as a compensation for an investment.  o6 s0 w" J6 q0 r
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  |# W; O* ?* Z- Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# C( I- i5 I' Y: V$ q* _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( q6 |  B! ~3 N; H! S6 {similar to bonds, CDs trading in the secondary market have different value at different times,  _1 g  t9 \5 P7 I" B
normally the value is calculated by adding it's principle and interest. 7 e' _. G% v/ H8 i2 ~# M( p) c  N
eg. the value of the mortgage+the interests to be recieved in the future. ) X$ b0 r0 ?7 x* e" Z
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./ ~" c- T1 I+ ^. e. {5 o, i
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im not quite sure if the multiplier effect does really matter in this case.
* V* f; H  x0 Min stock market, it's the demand and supply pushing the price up/downwards.0 A) L7 i( a1 C# l+ Y  e( k. t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, v. {0 b$ _. y9 Z% l4 v& F1 `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& b" E& N' H0 P# l. e4 \4 W. F* QThe 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. ! ]5 w/ Q$ y& o( `/ ?6 |5 [% @
but the value of their assets did really drop significantly.' D! ]9 h; |' B$ j
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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+ t8 ]7 l, y3 M' A- n
Refer to last example,
) b" S3 H0 Z6 S6 Vthat means bank A have no money because we borrow 10 dollars from bank A 3 a6 e7 N& {! r$ t
Because bank A doesnt have enough cash on hand $ k' O6 t" M2 ~  |/ C) D* C
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; w" b4 m6 W- g! K
so does it mean if E failed to pay D, 8 I4 h; D/ x; e5 {7 X; F2 _  t
all the B,C,D,E have to go bankrupt?
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" u3 S& @) k6 X, I+ Q/ gthe multiplier just tell how much money created in a whole economy, : G7 E" I. F- C0 J' n& ?2 R
in this case it doesnt really matter how much money is created, . Y& d0 p. [& T2 C' ]) w
it's the problem of the debt itself.
2 \$ f' _& D6 l/ \5 Pthe 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
2 a! Q* a& ^+ b/ ?- y8 Z小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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/ C' Q; p* n8 @' t! P2 ~/ |無可能淨係有人蝕錢無人賺架嘛...# M* J! G3 N) L% P8 N% ]' d* [

$ ^; F# L  e, x/ \1 x& a* x# b' A敬請各師兄解答
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Thanks

: M* H, A! J4 z  ]$ g& x) d那些根本係 紙上財富  
8 H7 q  }; ?. 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
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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8 x; t( [  c. ?# a7 A8 m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ Y* S$ q; i7 C1 K4 m
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9 k0 c2 e" r5 ^6 p3 A* H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 p( b* s( O% _5 u" N7 U' B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* Y; D$ N/ _2 p7 G9 H0 T5 o1 m
計番回報率就已經係50%,所以可以好好賺6 Z- P% N; H( ^. X# e* M
前提係銀行之間要互相信任先可以咁樣借法
; N9 w& A( \: {3 i* }9 C同埋個市場既前境要係好先得
: K8 O) F  D' Y! S但當經濟一差,公司估值趺了,物價不升反趺/ N# h8 R% u6 {/ ~) r
例如剛才說10蚊的, 趺到得番9蚊,
9 y( o( o# S; F0 q! T! K% t4 ?0 \+ H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% n4 U4 u! n1 r$ }; D1 t8 q
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, + P# w/ c/ D7 H% f
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,
' Z- ^% C/ [$ e8 Y+ B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 [- B6 T$ x: ^/ M2 M6 I
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; L7 ~+ f4 j* {
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+ F3 e& f; K+ }6 f
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " b/ F7 N% c& f- t* j: x; `! `1 [, S( t9 j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , j4 N6 A, w( C" n8 _% e. E% w' h& p
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 `; e( p1 e0 Z8 X: A4 h
咁你話d錢蒸發左去邊? ...

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" X2 e$ H" y0 H7 V正係咁樣! v4 U- o% P- }4 O- |) U. w
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
6 r0 |% c9 c9 e$ E+ d分分鐘佢地唔使還錢/ q6 l; H" l- H4 e, u5 m8 D
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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,
8 R3 K% F! u+ m( Y4 b' g連國家都係問人借, 不停發債券, 印鈔票
1 y  o  j& ?' {8 K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# q) J2 ?5 P9 u" B7 N; S2 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- ~3 y8 G: ?% Y4 d  S; T
咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ T, {- {! g  V8 P- }" r其實係...
  `3 ?0 M# ]5 j6 i. O因為以前未生產, 先消費- f& E1 ~6 r' q0 x
而家就要多生產, 少消費