0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& i: e3 I$ B& {# `; ~Why bank will sell 借據給第三者???: Q* d1 B0 d7 N8 @; `
I was so confused.....

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1 W2 N1 ]+ H- v3 n8 P/ m% v! ]講到尾都係賺錢
9 |) T# P- ]% K6 k  `. D4 a; @so銀行可以不斷放款% O$ F2 b( L' J7 ~8 a9 N! k
美國的房貸問題散佈到全世界
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4 O: a% i; g/ H! pmortgage loan 3 ]1 I/ ?5 H7 A/ @; f$ A: v0 O
>conduit
/ |2 z) b5 f& y" J>RMBS(Residential Mortgage Backed Securities)
, [" a# Z( {8 q5 k8 ~- x; t>arranger
3 c; A3 h2 m" f+ v9 H7 H>CDO(Collateralized Debt Obligation)
- f# W- R8 ?" n. m% h最後去到投資者

Kev

i thought it is the reason of rate of return.5 Z2 S+ O" w' L5 f( ~" E
CDs could have different ratings, AAA -> F,
' K: @: N" Q% w/ Q- |$ lmore risky ones would have higher premium (interest rate) as a compensation for an investment.
  W$ K  d6 N8 D8 r" qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! {5 x  r$ a# gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 x3 N! ^; O6 l( J, _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 c; z5 [# R0 l" J
similar to bonds, CDs trading in the secondary market have different value at different times,9 q+ X3 U# D* v' S
normally the value is calculated by adding it's principle and interest.
' ^* q( m. V/ X) I% W6 p% \+ H2 Oeg. the value of the mortgage+the interests to be recieved in the future.
  H$ E6 o- ?2 x2 E, A: w0 j* ^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.6 B* ]/ h9 _; Z# f# M9 D

0 n' w7 r7 P, a$ Jim not quite sure if the multiplier effect does really matter in this case.
# T+ N! k5 |; R( L! d9 _" O1 Ein stock market, it's the demand and supply pushing the price up/downwards." j3 U* a/ \8 k' `& z. n7 r1 K
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 e, C0 i7 Y8 `: g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. f" B. ?2 c3 `, A/ ^
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. " ~7 J9 v2 w; ?! l: h
but the value of their assets did really drop significantly.9 F  w  G; k7 t4 t$ D- A+ d7 ]

3 [5 z  W5 }2 R7 }3 J8 |: r0 s" W[ 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.gif6 l, e" S& l0 W( Q- C
Refer to last example,1 r2 b! U) L* i9 A* i) `
that means bank A have no money because we borrow 10 dollars from bank A : V9 D" T/ q( ]7 a0 i/ \6 F& z( Q; u
Because bank A doesnt have enough cash on hand
% B/ e" c9 R" ]+ ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 v4 E2 Y9 x6 n. }, R% O0 MA->B->C->D->E9 j/ y6 W* ~% `" R) \- X
so does it mean if E failed to pay D, : `. \5 v. L3 O
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,
+ W5 V2 Q' }  y. F1 @1 Vin this case it doesnt really matter how much money is created,
& P8 _4 b. Y. p+ @$ x5 n, Zit's the problem of the debt itself.
% y% R6 U- S$ a: O  m; o2 o8 nthe 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 H) D$ v5 K$ X( y% d
小弟一直都唔明...
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8 m( X  h' z$ F1 r1 Q' m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...' _/ }- i% {6 i* v+ E# B: c  i

7 }% |0 Q" X* n  s敬請各師兄解答
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Thanks

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那些根本係 紙上財富  5 K" P0 X6 n$ i; H8 U5 F# l) 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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8 U& r1 d2 X) }& r+ I: Whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產4 W3 G$ A  W. i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 r/ Q4 }: D& W8 w' X# Z
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" U7 m" B8 J4 l) m6 P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 _% ~/ z5 m2 w" T" ~- K8 y/ S扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ t! @$ p$ p4 F  v. O8 c計番回報率就已經係50%,所以可以好好賺/ b2 S0 i  ^. a. [9 P" d$ e
前提係銀行之間要互相信任先可以咁樣借法* g" c: X4 o% z9 o3 T
同埋個市場既前境要係好先得
1 T9 A& u& a2 I6 _6 N但當經濟一差,公司估值趺了,物價不升反趺
2 K( R( _- a7 _+ ]0 |例如剛才說10蚊的, 趺到得番9蚊,
5 I1 {3 y! l* B6 `3 p咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 X" @$ i$ w8 O. D1 X' r1 h所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
* X9 P6 l/ s% `, u) k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, ) o7 R) w" n; K; ^8 ?& p" J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; q7 j6 j% c1 \2 L+ }" C. 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" \' g& S6 R: [; |1 w4 C' q( L$ _
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( B. g, @) i, Q) I( x
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ a6 n9 k5 A$ ?- G) O! B1 R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . E3 ?# B) I3 q3 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9 B! H1 M  c+ h/ ~
咁你話d錢蒸發左去邊? ...

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正係咁樣* [# ?3 H' w7 w3 t
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# h! R1 d* m  g: s
分分鐘佢地唔使還錢
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! w, h0 |( _% [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,) Q# O; E! H$ G% j
連國家都係問人借, 不停發債券, 印鈔票
$ e. d: Q: q7 r一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: C, b7 G% a7 B" z1 h+ l9 @8 G
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
) B* X2 ~% J2 X( e) L- D咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ e  C( @: T9 c* S4 L, U1 N* o
因為以前未生產, 先消費5 L; m& w1 D0 _1 s9 C
而家就要多生產, 少消費