0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( A# L$ X2 A. ]) B3 J' x# t: iWhy bank will sell 借據給第三者???
' T- `3 C% W% _8 m$ K- c& y9 e+ NI was so confused.....

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4 w9 ]# P) f$ B  P' a講到尾都係賺錢& R  q! @5 O6 N* F# C
so銀行可以不斷放款
  ~+ r4 x  ?2 }3 x( C2 X3 U美國的房貸問題散佈到全世界
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/ q9 y- d; n( R( Gmortgage loan 4 Y9 ~' m( d5 d/ b
>conduit+ k; M7 J9 N, M: a& r
>RMBS(Residential Mortgage Backed Securities)
4 a" ?" ]1 d( \9 {+ v6 |>arranger6 G3 i4 d3 b1 O' L2 W! i' M
>CDO(Collateralized Debt Obligation); }1 o# {7 E" r( V& I# i$ N" D
最後去到投資者

Kev

i thought it is the reason of rate of return.
) @2 e" Z# s! Q$ s: {CDs could have different ratings, AAA -> F,
7 T/ T) |" ~6 [7 N: G1 Q0 L9 v7 smore risky ones would have higher premium (interest rate) as a compensation for an investment.
5 n* L4 T. J- h' cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. P7 L3 Q6 z$ o4 x  c, kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: e$ M) K! B. [8 sAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 V& c9 ?; x6 w2 y. {similar to bonds, CDs trading in the secondary market have different value at different times,
9 h2 m' J1 t+ |1 Cnormally the value is calculated by adding it's principle and interest.
; c. M9 a# o5 r' u0 O/ i, ieg. the value of the mortgage+the interests to be recieved in the future.
1 [* T9 j( L. F& f( rbanks 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.# Q9 ]/ P$ E# a9 K; P/ A' \! Q: n
in stock market, it's the demand and supply pushing the price up/downwards.9 @0 J" B0 U/ k0 Q7 e+ d3 S
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% b! ^+ Y, o' a1 c6 a" {
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& Q0 p! }, k1 TThe 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.
2 T1 H/ J0 c* i1 c+ v+ ~/ tbut the value of their assets did really drop significantly.3 O5 k. t% ~9 _, R+ I/ x, U( U5 s

- h! K+ q2 W/ V& J0 h[ 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 P* |/ ?' {' f' j7 E  n8 ^- A# h
Refer to last example,) S2 E/ L, x% q) A% q
that means bank A have no money because we borrow 10 dollars from bank A
8 D/ f0 J/ |$ _Because bank A doesnt have enough cash on hand 9 X3 t) ]1 D: D3 v
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ m# v% G8 c9 u  h# h5 jA->B->C->D->E
2 N3 W( ]" Y1 uso does it mean if E failed to pay D,
8 H! a: P( z9 Z2 _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,
; o$ S* a0 F5 }* r( iin this case it doesnt really matter how much money is created,
* Z; F7 y( D: ]it's the problem of the debt itself.
9 {8 o$ |; h# u0 X9 k- Vthe 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; |# X0 Z& X+ w5 _6 R+ e
小弟一直都唔明...! l% m! C; t/ ], Q. P
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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...4 f% o+ D6 z: f3 y$ h0 x# K

  D  {0 w4 U: m  L0 ?2 m敬請各師兄解答% q: J* C1 N. T7 b1 u. g
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Thanks

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那些根本係 紙上財富  
2 [* t2 z! P: S2 J$ c& A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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% Y+ {1 q; P; p2 Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! w) X) a7 E2 [" q# n當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 e6 R3 w) n* Z+ Z; L4 i# {% O- J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# R$ P" X& n) G. r; v* l+ g
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 v/ T- Z2 M  J/ R* d+ E" |0 y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ P$ T+ ?) }% C9 V+ l; ^# ?7 `計番回報率就已經係50%,所以可以好好賺
. r7 M0 a' P  c- i  Q前提係銀行之間要互相信任先可以咁樣借法
" g7 g. v& W3 ~9 v, F% L( _同埋個市場既前境要係好先得
" ~0 a( t8 e9 |( V, M3 C# m- \但當經濟一差,公司估值趺了,物價不升反趺
, m. ]1 B. Z# z; \$ \例如剛才說10蚊的, 趺到得番9蚊,
8 g6 p, C" B* i) t& Z% {( U8 c1 n咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 |' T  k) V( d5 e! N, `所以你就會覺得D錢好似蒸發哂咁
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4 ?' _/ S  d" }6 Q* c7 h你都可以當標野咁諗, 個樣野多人可以狂升值, ( T" v% i& e( D7 i2 I
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,
' p  h0 ?! R( d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 H: q* p9 |) ~% n9 B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
; ~. A$ r- S$ \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
0 L3 M. ~- l, T1 a唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- }* T6 L# g0 j+ t  @. n+ w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 e9 [0 Y/ _" X' |  P3 _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
& h6 q. O; w( \4 R0 J; f咁你話d錢蒸發左去邊? ...

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+ d* S1 u5 w2 g" ?正係咁樣
8 ]9 M" b3 t5 t) T  U" R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 Q& `5 P% S分分鐘佢地唔使還錢8 M: n& @6 ^. C5 X2 v

, Z5 C+ w2 l/ U8 P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,
$ _: s1 j( P/ H* O6 ^連國家都係問人借, 不停發債券, 印鈔票& B$ G/ H; e' @. X, H. a7 S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; N5 v9 V  R& G6 b
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* }6 c( g5 g  m+ {# L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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, k* b. O8 j% [1 ~2 F6 o其實係...( B" L4 h1 e; P: [: Y- p
因為以前未生產, 先消費
  H) T7 ~" R+ |3 t/ h- N而家就要多生產, 少消費