0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 u1 d7 N6 Y9 s8 PWhy bank will sell 借據給第三者???
% r3 X( x& _- p% J# ~- C  VI was so confused.....

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* Z! C. j, z1 m3 |3 A+ {講到尾都係賺錢
# ]+ w0 [$ x& k7 @0 S- eso銀行可以不斷放款  d5 n6 g; y7 r5 v7 P! w5 |
美國的房貸問題散佈到全世界
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) F4 X4 {% K4 A7 qmortgage loan
' @7 a1 @; Q3 c# l>conduit$ `7 R* Q2 N) ~$ I( x
>RMBS(Residential Mortgage Backed Securities)" ~7 L3 f; K& }1 s, b3 l, C' h' I
>arranger4 h. ^  \. B' ~  Q( ]
>CDO(Collateralized Debt Obligation)
& N- p3 h% W% s9 U$ B最後去到投資者

Kev

i thought it is the reason of rate of return.. I0 l$ w1 I' W& P4 ]8 N
CDs could have different ratings, AAA -> F,# f  W( a5 V5 N1 Z2 U4 E, p
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 B6 `5 q, G' Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 o. z7 U1 t- w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, F4 D! S6 B1 P7 K% HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 T" l$ ~. G* Jsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 x; r/ [5 M# J4 ]) wnormally the value is calculated by adding it's principle and interest.
  Y# X) O) f/ M( Xeg. the value of the mortgage+the interests to be recieved in the future. & o8 c( D: E9 n& U& o6 `0 T
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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9 O0 }+ K0 N& Nim not quite sure if the multiplier effect does really matter in this case.5 w8 H$ `7 E9 s# D' T7 `$ S  v/ Y
in stock market, it's the demand and supply pushing the price up/downwards.
% s- V, R) s& hFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' Y! h- `. I4 n0 b* Q- F) m# X" g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! f7 u# s: U- r4 r. B8 M) X
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. Z: i# V4 T2 ~" M* u
but the value of their assets did really drop significantly.3 H, T0 n1 J. x' ^1 G+ ]
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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% X4 j% m6 c9 ~0 X
Refer to last example,: k7 y* q( M4 c6 a- H% U
that means bank A have no money because we borrow 10 dollars from bank A ! n( _) y& w% G+ @: t- O
Because bank A doesnt have enough cash on hand ; D7 X9 H! x1 g/ C6 n
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" C& A1 y/ g3 c* hA->B->C->D->E. y2 m! E" E' M& A  e- l: i
so does it mean if E failed to pay D, 1 x: d1 h2 E3 I, N' {
all the B,C,D,E have to go bankrupt?5 e, K' @4 p6 O" A3 {6 ]

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7 h& c* y1 d& Qthe multiplier just tell how much money created in a whole economy, % H/ C5 j$ `( A# d1 t. v$ r5 f
in this case it doesnt really matter how much money is created,
# {- ^( b7 m8 _& n& e! V$ \) ait's the problem of the debt itself.
5 ~' z. a) D, X9 Z1 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
& n* ~# b7 Q3 F2 \8 M; m小弟一直都唔明...1 O0 H1 c" f/ m. F" ^
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全世界都蝕錢，咁邊個賺緊錢呢?8 P/ C' B" X9 @
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無可能淨係有人蝕錢無人賺架嘛...% {+ {' Q( M8 }) J% I% \

' c/ i* {4 x! L* ~! v) P% E敬請各師兄解答1 N! h) T" S* t# s

. m2 F2 l" s  M) QThanks

5 q4 T4 m) _4 u2 m. W- I+ B
那些根本係 紙上財富  
" M2 v% z5 [) K% E" |& l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% L& {: P; S' X+ Qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
+ S: b0 [, _# a  c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) K' h8 Y# Z; e5 S/ Y" k
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9 Q' d4 f) L$ m8 }8 i
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ Z6 a* }+ y  J9 _/ T& ]4 G7 p
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 G& E2 T8 G* n* e6 a2 q4 c計番回報率就已經係50%,所以可以好好賺
6 q9 M3 S2 @4 a2 S# Q. c4 R( H前提係銀行之間要互相信任先可以咁樣借法" C: u6 I. T0 ?4 W. j
同埋個市場既前境要係好先得
- t3 D& ^* s5 C+ }但當經濟一差,公司估值趺了,物價不升反趺$ G: t, m7 y3 K( s9 A* x
例如剛才說10蚊的, 趺到得番9蚊, & h* ]! B# I  h6 U* u% ]( ~
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' i2 G: o. }; V
所以你就會覺得D錢好似蒸發哂咁, @3 e% l, Z' C8 r6 o4 w5 j

9 b( n  L# u$ W2 |你都可以當標野咁諗, 個樣野多人可以狂升值,
' K  J5 R) ^( @% L/ q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, 9 i$ Y/ c. v5 ^, ~+ z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , ^9 i1 H8 _/ f6 d
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
2 a! K: {5 y; E2 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.gif9 D/ J- w9 q4 s
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # x: ?' F3 P! M) _6 H4 `3 ^/ Y, T, Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 f+ R% T  t( v7 j0 I! S7 b, 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& L& D! J* l; Y; @* w* L  Y
咁你話d錢蒸發左去邊? ...

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正係咁樣
/ b5 g6 P: P7 b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3 A( y9 h7 d) {9 z' f# m7 T2 i
分分鐘佢地唔使還錢
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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,
; h* j2 g1 Y4 _2 |' l4 l連國家都係問人借, 不停發債券, 印鈔票
7 l% a, K) d8 T- k2 L* @6 d1 _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( e! d6 s2 r. Z8 T. M( v! }
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+ w( |& {( p1 ]; F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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! ]0 d8 l, A- I- q0 e  E其實係...
: o9 I. k. U  X1 t7 B( w8 _因為以前未生產, 先消費1 E/ G1 ~5 [) h
而家就要多生產, 少消費