0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 i: f  }5 e5 W9 J# CWhy bank will sell 借據給第三者???7 P3 ?. Z1 d) W- n( @  |
I was so confused.....

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; |) s. F5 t6 q' m9 N& r講到尾都係賺錢
1 Y+ e( o/ d# R& [" Cso銀行可以不斷放款0 a+ Q: ]. d6 \6 e
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
1 h1 z: Q- m$ G- z3 p>arranger  }  `  H  s0 Z9 q3 w
>CDO(Collateralized Debt Obligation)
% O  `6 |0 y( O; g4 P8 P最後去到投資者

Kev

i thought it is the reason of rate of return.
. c, x! e. K  K8 ]CDs could have different ratings, AAA -> F,
/ m2 A, d/ ~0 c& R/ V1 rmore risky ones would have higher premium (interest rate) as a compensation for an investment.8 c) h& I* _* ?+ Y" Q0 A
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ T' K% Y: x# ^  i2 V9 n, {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 A+ i* J* F6 E% c
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 F( T! l5 t1 D5 ysimilar to bonds, CDs trading in the secondary market have different value at different times,/ r  Z5 y5 q4 f0 N& `
normally the value is calculated by adding it's principle and interest. 8 J: @1 ?& W  y
eg. the value of the mortgage+the interests to be recieved in the future. ) R5 |0 o% s& s) ?
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.9 B8 M4 Y* Z# m0 V
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im not quite sure if the multiplier effect does really matter in this case.
2 M9 U/ p" V+ V8 O1 pin stock market, it's the demand and supply pushing the price up/downwards.
* u% R* J" q: B* _2 W- h7 x6 jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 h/ U- O. [% v- ?2 `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( v1 ~* P  ?" f! r
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. ( l1 G) e: D& N8 K/ f' m- O0 w
but the value of their assets did really drop significantly.
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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
! ~7 {/ H' J7 [4 QRefer to last example," y* q- d1 I" W: u! l
that means bank A have no money because we borrow 10 dollars from bank A
% v: Q' W0 `- X' Q% `Because bank A doesnt have enough cash on hand
' g8 X1 v" _. w" R0 P+ D* dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' r! V. ]$ b. `' I7 `! d) O8 pso does it mean if E failed to pay D,
/ v, x0 n7 t% K, m* R8 Dall the B,C,D,E have to go bankrupt?5 j& D0 F) `, C; z
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the multiplier just tell how much money created in a whole economy,   g0 R+ b& ^0 b7 r% a! F* U* k
in this case it doesnt really matter how much money is created, 5 c1 W! E7 @5 Q
it's the problem of the debt itself.
) f( E! C; D, R$ Sthe 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.gif6 }" o+ L5 a2 t2 B3 w% z& l
小弟一直都唔明...
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7 A" q( ?0 L* I9 i1 |( N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...0 ], H! I0 L0 [/ E/ k. f
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敬請各師兄解答" s/ Q5 ]9 D" S, M# V' U* k4 F
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Thanks

4 C: N# r+ v+ g1 a2 G  W' E) v那些根本係 紙上財富  & Y7 ~) X& p  ?7 k/ ~* T
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 graphic2 o0 V1 o' f4 C$ _

/ r3 w1 `/ P/ _5 {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3 b( b/ \* b- S) o3 \+ m  L; `! ]6 Q
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 u: b- K8 v& M, C- 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1 n7 ]* ]3 ?$ Q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! K0 J( W6 V! R! `1 C; A
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. O- B! L* z, [8 i計番回報率就已經係50%,所以可以好好賺
1 r( C7 y' ^  f# e" }8 v3 l前提係銀行之間要互相信任先可以咁樣借法1 g& y) A' G7 W; M
同埋個市場既前境要係好先得
' m4 B7 r- e7 v4 b但當經濟一差,公司估值趺了,物價不升反趺, f+ L! K" B" l/ ?) c+ O. [
例如剛才說10蚊的, 趺到得番9蚊,
6 T5 ?, G) T5 F' m# `7 D咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ j/ w: ]% p: K; B所以你就會覺得D錢好似蒸發哂咁4 `5 C( q5 b- E3 P* E% h9 [
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你都可以當標野咁諗, 個樣野多人可以狂升值,
5 L2 D3 k$ V7 b+ e4 P1 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~

kuru

唔係d錢蒸發, 而係比美國佬洗晒未來錢, , @. K( f6 R( K) H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( t6 l; b$ @+ a6 X- w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+ ^% ^& s: Q3 `( a5 p
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) T( Z1 m7 q3 K7 u
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. c1 e" z+ F8 W6 D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " R, Z2 Z2 y* B4 x8 g. r
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
" F2 d/ K7 c8 p0 M咁你話d錢蒸發左去邊? ...

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: `% U0 c2 _- H正係咁樣  z7 G; @4 r. t4 c' y6 n/ G/ v
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0 u% w" S0 C/ s7 R4 l4 v
分分鐘佢地唔使還錢9 N( h6 p) [- y+ }2 B

' P5 ]; l, D+ T  Z" p8 S$ w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,
0 `2 X  \4 _) u( n連國家都係問人借, 不停發債券, 印鈔票0 z4 D5 h' r0 T, u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 N0 h) Q+ H+ J: @0 B8 `4 j
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
8 E6 q" [- K* J1 H6 A# Q咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! P1 y6 m" i9 j; u因為以前未生產, 先消費% D5 Q' ]9 x1 d5 Z3 x6 X9 _5 \
而家就要多生產, 少消費