0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; u' Y- M1 R$ `8 _) bWhy bank will sell 借據給第三者???
! I* U# L2 ^  r' [7 ~+ D, g- o  L) gI was so confused.....

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) r* d+ C) b# c/ h' D5 q* s, Z講到尾都係賺錢
2 p# c( H3 J& F4 |7 D8 Zso銀行可以不斷放款
8 m2 \7 h( o% f  @9 X美國的房貸問題散佈到全世界+ Q& D, D! u& d" X) y* p
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mortgage loan 2 I' d3 ~" N+ A) a  X' K
>conduit
0 ]& q7 m- I  [# J) ]>RMBS(Residential Mortgage Backed Securities), s/ Z( l/ z" Z' U  E* p
>arranger
+ Z6 f+ I6 h% b0 d! s/ v! _+ }>CDO(Collateralized Debt Obligation)
, a- j* h9 P# F最後去到投資者

Kev

i thought it is the reason of rate of return.7 E; r; t7 v  k- M
CDs could have different ratings, AAA -> F,
* Q* ^2 g; E5 C" S" }; M0 x- B1 @more risky ones would have higher premium (interest rate) as a compensation for an investment.7 O0 h6 m2 U9 j+ \) G8 I- [( A
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ U- u, Z5 q' H) e. U! R
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; m/ l; f% Q+ K# ]  F/ R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) _2 Y* ~! B5 b0 V/ V# H+ I) n; S& H7 `0 O
similar to bonds, CDs trading in the secondary market have different value at different times,* z3 |. k. w2 Z/ s9 g; D/ g
normally the value is calculated by adding it's principle and interest.
# `$ W- v5 C0 r# K7 Y9 Meg. the value of the mortgage+the interests to be recieved in the future.
, H6 E$ u+ y# x' E; a+ ^2 b4 c6 `7 vbanks 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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im not quite sure if the multiplier effect does really matter in this case.
/ P$ y0 S! ^% {  S4 _1 t+ @in stock market, it's the demand and supply pushing the price up/downwards.
' ?  K8 A. q( d2 KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. S/ C! I& v) {& ]3 B8 A( G6 bA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 z* b4 n4 G6 T
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. 0 r" b8 Y0 s7 x5 Q4 ?0 d
but the value of their assets did really drop significantly.
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) T: u; W4 S, Q1 g[ 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
( Q2 z' x7 E0 L( iRefer to last example,
+ P) o% l6 w6 rthat means bank A have no money because we borrow 10 dollars from bank A 2 Q3 k& F$ c/ s
Because bank A doesnt have enough cash on hand ( [4 H" i: |+ c# X- M
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ e2 c) \7 U( ?( U8 Q. Q0 X' y4 Q+ j% TA->B->C->D->E
! u5 _. L( q  q. S! I6 _# Lso does it mean if E failed to pay D, + @. z# }# G, y" ]8 p2 Q
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
5 Z. A5 i+ l5 _0 C/ P! O7 ?in this case it doesnt really matter how much money is created, 7 m- O4 E5 ?; M: U8 L6 X4 g
it's the problem of the debt itself.
3 ?# j$ Q) V2 D! g; m7 g8 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
- E0 K( O- D. J7 s' A- k小弟一直都唔明...6 H. O8 k# \. A8 R5 K/ \
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全世界都蝕錢，咁邊個賺緊錢呢?  q3 j9 q" }/ L/ p7 a/ j
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無可能淨係有人蝕錢無人賺架嘛...# u: v3 _$ b1 B8 h1 T
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敬請各師兄解答, O6 P) m$ r, a% I. s" H
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Thanks

3 d2 e9 E# |" o9 L% [$ Y; ]那些根本係 紙上財富  : |" X/ z4 ]  ?/ J
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: p4 D( p' z" u5 E4 @0 i

) M0 L2 p9 u) U; O/ hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
0 d( _6 C8 o4 {+ M3 ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 K; J. p6 ?! f  @9 Q7 B9 H- o0 I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 P8 R  _1 \8 N) \. P1 X個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 R. S2 h2 V8 J* k/ O& Q% @6 \扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 |: }8 y; h5 F3 m
計番回報率就已經係50%,所以可以好好賺
6 r0 C5 T6 n9 A$ D前提係銀行之間要互相信任先可以咁樣借法
( z$ |9 h2 }/ j% C同埋個市場既前境要係好先得: M% w' [/ R1 q- N4 \2 P
但當經濟一差,公司估值趺了,物價不升反趺- f. k, H$ c* T# A4 c: f# n8 {
例如剛才說10蚊的, 趺到得番9蚊,
7 `+ e7 w$ \6 P( e+ C9 S9 G咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( Z: `* H- h' |- I8 m所以你就會覺得D錢好似蒸發哂咁4 W7 |5 J( A. D, f6 J
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你都可以當標野咁諗, 個樣野多人可以狂升值,
2 m0 D3 v+ f7 z$ E3 @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,
7 P. D% s) Y4 A" W+ \# i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; D" W  N& X/ f$ g' V" t
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( a6 H4 m: F2 j: e& K8 i# J1 d( T
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
6 c: |1 }! Q" ^( h& F! G; r唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 s  N2 v5 Q* }4 H& h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# N1 ^8 I, l% H- U2 v# n: C7 i0 t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! h# ]. b9 \; n1 l
咁你話d錢蒸發左去邊? ...

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: t5 j) y/ X0 p正係咁樣; V$ b+ ~* y  a- s( s: {
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
9 W% ?! l, }  ]0 r( o4 }6 X分分鐘佢地唔使還錢/ s5 {  n/ c& V2 W/ G
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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,7 }% I; L: v# p: u9 e3 c
連國家都係問人借, 不停發債券, 印鈔票" p& ]$ q+ c2 A( P/ h1 f! g4 @# D
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! Q9 f: Z# i. M4 l
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$ ~$ q/ N* E  X! h
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..." ~! [: }: K& I% e
因為以前未生產, 先消費, A* S1 J$ H) z: N' B  g
而家就要多生產, 少消費