0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( K; T7 D. i, K% p. P7 }
Why bank will sell 借據給第三者???
3 W  i" w. c5 SI was so confused.....

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講到尾都係賺錢3 B9 D: r4 X! j+ ~, B5 S7 }
so銀行可以不斷放款
/ c- ?: O, Y0 Q, L) T8 \美國的房貸問題散佈到全世界5 ]9 g# q: U9 z: g8 t

  i( x+ S/ G8 B+ j5 w# z' wmortgage loan
& v) C5 O6 ~1 v: l( n( _/ N3 R>conduit6 w! k% {6 F; q$ o4 t7 A
>RMBS(Residential Mortgage Backed Securities), `7 d& u% a. J, \
>arranger
! W3 c! `! S( M: q3 w. n>CDO(Collateralized Debt Obligation)
$ H8 W/ Z, X; T9 |1 y最後去到投資者

Kev

i thought it is the reason of rate of return.7 I2 l0 f, u9 T( f2 }
CDs could have different ratings, AAA -> F,
, i# c$ b0 U' p8 Amore risky ones would have higher premium (interest rate) as a compensation for an investment.- q/ Q% ~* _, Q, o! v/ N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ b2 m* z3 {, h) ?7 X6 }3 B& r8 F" kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 F6 G6 Z3 z# j7 G9 `  ^1 K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- l: b1 l6 v" L9 L2 G- X
similar to bonds, CDs trading in the secondary market have different value at different times,
8 |6 }- o2 `$ F9 @; ]. vnormally the value is calculated by adding it's principle and interest.
3 j6 u3 y' z; \8 u$ n& d# eeg. the value of the mortgage+the interests to be recieved in the future. & u7 \. F. J# O5 K$ P: {
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.0 P# e$ A4 |6 Z$ N

$ G6 _% M0 x' G7 L* J3 {im not quite sure if the multiplier effect does really matter in this case.* d$ J! f0 D- W1 q+ R: f. r
in stock market, it's the demand and supply pushing the price up/downwards.
! Q+ C# v6 `( t& w' fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 J8 h! A# j/ y  g7 |! \$ k5 VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ c5 ^. l9 ^& ~, o. A" Y6 b
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.
) A: ?. A  m7 M- Q& gbut the value of their assets did really drop significantly.
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; s$ U# f8 k; Q. r$ U( ~/ H$ s[ 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
, k! }: k) E$ i8 E1 G4 nRefer to last example,
% g1 _0 n) T8 B+ [- Athat means bank A have no money because we borrow 10 dollars from bank A # b: ]$ F0 a0 D. q; |+ @) P
Because bank A doesnt have enough cash on hand
! v* {' D: s/ I  @5 G8 @% \therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 v- S- G! f$ R) v1 J6 rA->B->C->D->E  i$ U  f4 c2 W, \. L9 h! E2 q& ~* n
so does it mean if E failed to pay D,
6 A. s' B0 \, N9 z+ call the B,C,D,E have to go bankrupt?2 p/ b  j5 d9 S9 p

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the multiplier just tell how much money created in a whole economy, 6 T" O4 N$ D! m- n$ Z: u
in this case it doesnt really matter how much money is created,
+ z5 b& ^- \0 Eit's the problem of the debt itself.' J5 @( x2 W) s" y+ O
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.gif
+ W; D- D# a2 b" w$ b* O小弟一直都唔明...! s) @( w* _4 x
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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...# G# W4 }9 P1 u) i

: Z5 B2 C) o9 f# w, [敬請各師兄解答: A' A% S+ {6 y1 [) \

8 E6 [+ t5 \6 C) xThanks

1 M/ o1 I8 e3 B$ @$ A1 b
那些根本係 紙上財富  
* D' |5 k$ V; q) 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$ }8 s) B! L' ?9 r/ ~* j

- S4 P6 J" W$ @- b& M" i7 chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產/ N$ h  p  t  S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( A0 g3 ?" {6 A" {
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* J- p+ P/ K; ^4 P5 z" t6 P, \& y# h
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. D" s- _) i  Y: d& s  w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 c, \2 b+ G: V+ ^  T1 ?9 X
計番回報率就已經係50%,所以可以好好賺& b7 Y1 W% F% _$ j5 y5 ]  v" E& n
前提係銀行之間要互相信任先可以咁樣借法7 p& Q2 \2 i8 y+ F0 I' n$ m
同埋個市場既前境要係好先得
6 s- n+ X. D# Z% P: l但當經濟一差,公司估值趺了,物價不升反趺. q. W: j' `6 R# S. p7 q* \# d
例如剛才說10蚊的, 趺到得番9蚊, 2 j5 v8 a2 g  m) _& k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; I/ b  z& u* I, L& G
所以你就會覺得D錢好似蒸發哂咁5 d8 v; s9 [  i7 f/ f$ C2 a

0 ]- L/ L  a. C% X你都可以當標野咁諗, 個樣野多人可以狂升值, , t0 @" J; }' O& A$ K! O* _% r2 \
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, ! m8 I) L. E* H8 t9 [# d1 i$ f$ Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# |# k9 [( V3 b! s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0 [2 ]. |% r4 T6 E( S8 L9 i) C) _9 H, o
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
" R% [( {6 W7 H7 g4 Z  P4 l  K7 d唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 y- s; J& b5 y; [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# p7 s$ \- d) }, g0 H5 e. 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# k8 D  |1 V* p! H
咁你話d錢蒸發左去邊? ...

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正係咁樣
4 ]/ K# f0 ~$ ], C; `, [# z+ R1 e  h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  `$ c! T" U3 g
分分鐘佢地唔使還錢1 f# ~0 _+ J! |# L; J1 O  g" u# ?8 x: O

+ s, g2 E+ [6 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,
% ?) x  i0 j3 e/ m) h2 E連國家都係問人借, 不停發債券, 印鈔票1 n* M8 I2 I/ B4 ?, K* N
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' W5 @2 `! r% U$ o2 n
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
$ G( A4 x5 B: R3 X' }0 }咁而家"爆哂煲"算唔算先至係變番"正常"???

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& t/ d% s. d1 _7 f1 B2 U& F7 ^其實係...
: A3 z8 z" V9 p$ X) m2 V2 Q因為以前未生產, 先消費
" H# n( F$ |: o- A' W& h8 k而家就要多生產, 少消費