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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' L3 ~5 z$ Q9 @& {! o
Why bank will sell 借據給第三者???
2 ^9 R2 X& I% |7 rI was so confused.....
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) p7 O% }( G* i/ f  E講到尾都係賺錢( ?2 p9 x4 v4 R
so銀行可以不斷放款) t& r& P& q3 P8 Y! ^
美國的房貸問題散佈到全世界/ ?! o% ?6 X2 S: N5 c1 H# Q

3 f3 z  f8 J  o) k: K5 G; }mortgage loan & C* `% b) P& F  Z# H8 {" x
>conduit: D2 B+ G. ~' e
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)1 p3 e  `0 \- q& k2 {  {
最後去到投資者
i thought it is the reason of rate of return.8 ~$ r$ t+ C3 }7 X, G' Z! m
CDs could have different ratings, AAA -> F,
/ [" }8 C  d$ \8 w  j7 ]+ y# c, Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.% t. O+ G1 N8 A1 K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% {7 v+ x1 {9 q9 tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# G7 V: }7 j  ~: u, YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& g) K- j+ N" a0 B% R7 Bsimilar to bonds, CDs trading in the secondary market have different value at different times,
1 N& D( ^. w0 f6 V/ W+ b0 Xnormally the value is calculated by adding it's principle and interest. ' f9 x; j( D3 b" v
eg. the value of the mortgage+the interests to be recieved in the future.
) _, B) v1 u" D+ `. i2 Gbanks 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.0 R0 o" n! f0 c2 _2 H
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im not quite sure if the multiplier effect does really matter in this case.9 ]* E$ `7 ~0 @7 g% Q
in stock market, it's the demand and supply pushing the price up/downwards.
' u( y( Y! R7 ?3 e) m6 xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: A- F- f$ T' d$ B( B; e
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. d/ Y; u8 Z/ t; m! H- O( \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.
! }6 s1 M3 A7 h+ B. tbut the value of their assets did really drop significantly./ P- v: o. L' q$ k9 `$ {

+ ^3 b  b0 B, q, J! K; }[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 b! [! w" c& b/ k; iRefer to last example,) C' h  h* r0 K! Y3 j
that means bank A have no money because we borrow 10 dollars from bank A ) q/ _2 t) u2 p, a
Because bank A doesnt have enough cash on hand
9 g/ N5 v; N' Z2 _% Z1 Ntherefore bank A need to be bankrrupt ??? Am I right ?? ...
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; g1 V- g  \$ [# jA->B->C->D->E9 r, r0 M. g! Z1 i
so does it mean if E failed to pay D,
4 P. l3 q: ]0 H. k8 N+ Z. |all the B,C,D,E have to go bankrupt?
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/ B$ l0 }2 d6 Z7 P# jthe multiplier just tell how much money created in a whole economy,
0 }3 P; i, ^6 {/ K4 Qin this case it doesnt really matter how much money is created, - [8 [; d9 I# ?" z9 j8 l
it's the problem of the debt itself.1 a; D3 b# g3 G* v4 k  c1 V/ g
the debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 U! a) C& U$ z" ]$ p小弟一直都唔明...+ g5 l: N6 k: e0 T9 w" E: F

! x  X0 j4 o  w  G! G* r全世界都蝕錢,咁邊個賺緊錢呢?4 P# w& e, }, \' ^" J3 a, ~

0 I: T0 r) S7 e$ }! M; N; Q無可能淨係有人蝕錢無人賺架嘛...
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1 D9 I. g* |/ |& k" N+ E: {敬請各師兄解答
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Thanks
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那些根本係 紙上財富  ; o5 A: N8 u& I
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
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
其實個D錢係你可以當係虛擬資產
4 o* Q: ]$ ]9 V( N/ u0 Y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# {- C' ^8 |  s% j9 M/ E0 k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
4 M1 u1 I+ z# [' ~) e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 Y. ^" l9 n$ x7 ^; a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  |- a( X  a8 \) G, i計番回報率就已經係50%,所以可以好好賺
! p9 A7 j. r: U5 Y2 W前提係銀行之間要互相信任先可以咁樣借法
0 }! A' S' j! a7 \6 m同埋個市場既前境要係好先得
2 F: P( Y8 c& G, e1 r但當經濟一差,公司估值趺了,物價不升反趺
1 i) P; ~( p$ Y# Z0 a% i- P! h例如剛才說10蚊的, 趺到得番9蚊,
8 c5 r6 I" c: X' e1 \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& v6 @& T) |9 b. O: e2 @2 s$ n$ F
所以你就會覺得D錢好似蒸發哂咁. M& P2 r& D3 P+ A5 {' Y

5 l3 I6 \8 c; n) a' ?/ D" L& n你都可以當標野咁諗, 個樣野多人可以狂升值,
& l; k) b, i% ]& n8 u, j& B' 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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( t' W3 v; @, P- d: I/ n) L2 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( W8 q9 u. P( Q
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* e( z; e/ H5 `- s
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' E8 m  Q  m" ?. ]唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 s$ y9 f, z* @/ B/ U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. N2 K+ G$ @4 ^: {2 `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) x* T: ^2 _' `. I5 c
咁你話d錢蒸發左去邊? ...
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; o+ O  y/ E: Q, C) a6 f正係咁樣+ E: F0 h( t  z: ?
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$ t+ T  |) H* j2 m- n0 `8 J
分分鐘佢地唔使還錢2 x" `! @" m( }2 o( z4 D9 Y' v

; n( Q7 k% A/ V; s4 z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,
7 z5 j4 G4 V, S- B8 u& j3 Q# A連國家都係問人借, 不停發債券, 印鈔票
$ X4 j0 w1 p2 o% R4 N2 ~一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 h) _/ R# n$ U0 O. B' {: G
編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif4 p1 j% A, t+ P  v9 e/ l$ {
咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
7 Z: b* x# Y9 D3 J+ j9 X* _, ?因為以前未生產, 先消費; }  X/ U0 C3 ~: {8 H1 E( @
而家就要多生產, 少消費
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