0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 B0 j* h; \1 L0 }$ jWhy bank will sell 借據給第三者???. R0 N0 f) e& C+ D3 O. O  K8 m
I was so confused.....

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' x, F& s/ u- G講到尾都係賺錢6 @& q; e) N; Q! J8 F9 ^2 V% R
so銀行可以不斷放款( }& |: W7 H+ J) d9 f; ]
美國的房貸問題散佈到全世界
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" Z9 V* X1 a9 \) y* U- t: c0 lmortgage loan 8 Z+ R3 D% }0 @* F; V. d
>conduit6 X- K; i/ Z1 M3 y: A: A$ e% J
>RMBS(Residential Mortgage Backed Securities)
# q4 M7 L7 k7 C9 a$ Z: A. B6 T3 `) P$ E>arranger8 X4 i' e4 m1 \' D; _% E
>CDO(Collateralized Debt Obligation)
4 Q* m% T3 [; Y0 e+ X- A6 y4 @/ e1 n最後去到投資者

Kev

i thought it is the reason of rate of return.
) {* \) Z$ O) M6 d+ N8 P* c! qCDs could have different ratings, AAA -> F,
* ^, E, e4 g) [. Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 g: D5 z2 A5 r/ q) X7 z9 mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 t8 n0 S8 e  n4 fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& V* l4 u, ^6 z7 M- ]3 |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& U# @/ }! z: H; B
similar to bonds, CDs trading in the secondary market have different value at different times,
0 H& r7 ?9 O1 u7 znormally the value is calculated by adding it's principle and interest. 1 A! Q3 e* ~6 z3 f5 C" y
eg. the value of the mortgage+the interests to be recieved in the future. # @$ r- {/ o; |! _7 J2 O
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.$ |4 F6 L1 ], U
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im not quite sure if the multiplier effect does really matter in this case.3 o; S* N( B$ Y+ o3 L$ X
in stock market, it's the demand and supply pushing the price up/downwards.+ y& T8 l% _6 f3 g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 J6 P; t4 r- M! }7 b' h! CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- R& |& T1 A% c7 Z. Z& z/ W
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.
8 y3 w+ y' o: F1 I1 j2 Nbut the value of their assets did really drop significantly.: _( \% D! B+ m* q2 v
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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
; R( V7 Z; x, A2 ?: X% IRefer to last example,
9 Y, }4 e/ ]/ Z1 e# f2 G6 }that means bank A have no money because we borrow 10 dollars from bank A ( a* ~/ j' M9 m7 j7 v
Because bank A doesnt have enough cash on hand
; N  u  a  P9 Y: e) a  {$ ~1 `  }therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 J4 ^1 t$ x% {' ]* D. lA->B->C->D->E
6 A3 e6 O+ h# |0 L- L7 aso does it mean if E failed to pay D, & ^3 {6 \; J* I8 i2 W. s& l2 l/ V
all the B,C,D,E have to go bankrupt?" p8 B( `: q% \% B0 p

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the multiplier just tell how much money created in a whole economy,
! T2 O. B! p; i7 }. I" gin this case it doesnt really matter how much money is created,
1 }. c  @* l# j/ |# b  ?it's the problem of the debt itself.! O* i. _4 g1 H5 q% L' t9 {5 y
the 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
# e( R/ W& N2 y, l小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?7 x+ s# V; {# B: t7 s: g3 H
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無可能淨係有人蝕錢無人賺架嘛...
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  G( j& V& R* ^0 ?& \% G敬請各師兄解答. y+ H& A! ^, t8 g1 E. m

  I4 ?2 r  ?# V4 y* @& WThanks

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那些根本係 紙上財富  # ^- s6 ^; P1 n; o1 T, 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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) c: a& D# e6 _" v- 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
% Y- C0 L: u/ z  e# R/ V+ O$ ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 U# w% s( e! y8 S$ O4 B+ `
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 i7 @* \7 R! j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! F1 k, g7 b0 T1 q& U6 p1 |5 Q  F+ E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, t( P2 _, |+ U2 ]) T計番回報率就已經係50%,所以可以好好賺; @( r6 I3 o- }2 [) r( n2 R7 s
前提係銀行之間要互相信任先可以咁樣借法
$ z+ i+ {# q) {6 U同埋個市場既前境要係好先得
' x* v9 v" i' o5 U3 n但當經濟一差,公司估值趺了,物價不升反趺
' x' m' u2 C# z9 ?' l+ r1 h+ V例如剛才說10蚊的, 趺到得番9蚊, 6 W! l& u# u% [1 d9 E& m7 q/ b
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 N; y6 @+ {; }7 ~- }$ r/ E所以你就會覺得D錢好似蒸發哂咁7 u" ]# r9 M+ Z# L) v) d

8 W1 }: S; ?# p2 ^你都可以當標野咁諗, 個樣野多人可以狂升值,
% B" w7 F" M: |1 b% _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,
1 G6 c# P0 l0 M; c0 X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & C' ?9 {* L% S* h& x) N/ W4 ^
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1 L6 V$ @! E; U% \9 t% Y, 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.gif
0 }' f# B. L1 r/ S& t9 p1 N+ w7 x唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. h% W2 f+ B6 M& N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 D0 P- S" [, V/ z/ g4 f+ 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* B3 v3 T! \( P& @  u
咁你話d錢蒸發左去邊? ...

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正係咁樣" G: T" c( @7 W( k( D
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* \7 v) u. G4 h" w+ |9 s# l& {& U( j. c
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,+ p- b, L/ R/ p. x# n
連國家都係問人借, 不停發債券, 印鈔票
& `) s, \9 t; P- c( W; X4 Q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: F0 P/ j- Y3 x( K+ A, d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
2 O6 x' o* y* p4 q9 @/ o咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  p9 ~6 }* p* G9 m. t$ j
因為以前未生產, 先消費
( ^. Y: I! h8 L0 G4 B; {& \7 G而家就要多生產, 少消費