0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) {( C- W, Y: O$ t$ a: t0 NWhy bank will sell 借據給第三者???
7 @' P! T. ?+ S" w/ {I was so confused.....

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7 Q5 i* [1 a3 ~) ^: D  {' y講到尾都係賺錢, W* ?7 o1 z# ?2 b/ H6 [
so銀行可以不斷放款
+ u. o! P9 K9 m3 B) S美國的房貸問題散佈到全世界( {* d! o. g2 A1 [* x7 _; r8 u
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mortgage loan , {/ z; [' t; @" e  e; [2 j/ X
>conduit
4 o' v7 E; c" e/ h0 r& l>RMBS(Residential Mortgage Backed Securities)$ i: s0 i4 @2 ^# O+ i
>arranger
- G. A! @5 k8 _, Y* L! Y1 y) i; [>CDO(Collateralized Debt Obligation)+ y4 A) K  D  h  D5 ^: L5 W$ ?
最後去到投資者

Kev

i thought it is the reason of rate of return.
- I+ t# x7 J$ r. J' I8 NCDs could have different ratings, AAA -> F,( J7 _7 ^0 m: H& {
more risky ones would have higher premium (interest rate) as a compensation for an investment.; c( S* k' q% M
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; a  S& l6 R* f+ k) g* d" [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! X$ x7 U5 B0 c  ~" ZAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 q7 e( p4 C- R9 n8 e& h4 }similar to bonds, CDs trading in the secondary market have different value at different times,
! S. _' H' E/ E' i- Y$ ]normally the value is calculated by adding it's principle and interest. + Z* B4 t5 g9 H6 l0 K
eg. the value of the mortgage+the interests to be recieved in the future. ( ?) e: r' M1 `
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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* @' I; i* m* `. N# C1 V( uim not quite sure if the multiplier effect does really matter in this case.
4 C$ N2 q4 N/ M( b+ Min stock market, it's the demand and supply pushing the price up/downwards.5 @, S  \* Y2 w' F  ~7 g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: h+ u: O; T$ l4 g( i% fA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" L8 I( z! D& {  b/ Y8 oThe 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.
- g7 l4 g. `$ R9 J# |but the value of their assets did really drop significantly.$ a( \; l1 S& n- [! L3 d# \4 @

; Y8 l6 ]# x* O- A7 v# h" o[ 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
/ _6 x9 S9 O( O9 X1 [. ZRefer to last example,/ Y3 q5 B4 r1 _0 D
that means bank A have no money because we borrow 10 dollars from bank A
9 I7 K3 ?0 m, h) |) H2 dBecause bank A doesnt have enough cash on hand & n0 V# n9 q' y, Y& \( J& v
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E( H; b9 O* T& Z5 L- Q* S7 C+ O& g4 \
so does it mean if E failed to pay D, 3 h) z" O9 E) L6 k
all the B,C,D,E have to go bankrupt?
6 I6 |9 U4 A- W' y0 c* ?5 ?) u  |7 R! ]

1 C! f( G; \- h6 O* a& othe multiplier just tell how much money created in a whole economy,
9 H* S& I6 E5 [. J0 Cin this case it doesnt really matter how much money is created, * K9 K( ~, p# C* J! [" u  P
it's the problem of the debt itself.
4 i, T) e& G8 V  r; \* athe 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. N1 A2 a: z- B: b: p
小弟一直都唔明...
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% b$ s8 V+ ^+ e全世界都蝕錢，咁邊個賺緊錢呢?7 |" |2 L' G4 Z6 k) O& }

' u% {# k, _9 X3 g8 }6 O無可能淨係有人蝕錢無人賺架嘛...
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; Z4 C6 @  p9 g+ P/ p$ C敬請各師兄解答7 [5 m* s7 [; B- U
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Thanks

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那些根本係 紙上財富  # z* _- z& w, A- U9 P8 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

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
: R/ ~  [) T$ b  i當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: d& F: E% C- t" H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
; o5 C$ {0 ~8 ^& Q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- [' f) ^9 a( n2 l% U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* J4 o) q' ]# x1 X7 F6 V
計番回報率就已經係50%,所以可以好好賺
# K4 U1 P- W! p1 D! S前提係銀行之間要互相信任先可以咁樣借法
7 c) f3 X0 s/ t- Z同埋個市場既前境要係好先得
. U  |* E" K, \0 c' x0 X0 K: g但當經濟一差,公司估值趺了,物價不升反趺
$ W9 i* t/ d) ]2 a例如剛才說10蚊的, 趺到得番9蚊,
3 [7 d' `# p( t8 T8 G& U% E/ M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( q$ B. q/ t' h. p( y, h9 ]
所以你就會覺得D錢好似蒸發哂咁
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7 t$ i0 z8 |! [# }& `9 f) e  _, h你都可以當標野咁諗, 個樣野多人可以狂升值,
6 i" e. A- b$ u" G4 h0 u1 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, ( i; l* ^3 \2 v, s: d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . k; ?; l8 a6 [7 \4 N& Y
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! q2 |1 l! Z# t8 Y+ t6 e- a
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
! C* g4 E! d7 j+ a* f$ D! T唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' r8 Z2 ?- }0 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 p7 U& {" e  {, S" W! p' t: w; Q9 J
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
% [# |# v, f7 R咁你話d錢蒸發左去邊? ...

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$ H- G* x, A9 U正係咁樣
- L! r8 {& c' J, h" t1 n9 o7 L* Y5 [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
' \$ }- R6 o$ j$ @1 I分分鐘佢地唔使還錢
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& ~) O( f  v7 F* u3 k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 `. F% h  t2 w( g) H
連國家都係問人借, 不停發債券, 印鈔票$ S, I. x7 J/ X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# X/ n" G8 I( L9 @, v" 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
' e7 m7 O! I0 |7 l咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
0 J: u3 y' l4 {9 z- q$ s因為以前未生產, 先消費- O) [; ^5 e& D) `1 F) w6 r
而家就要多生產, 少消費