0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* _! ^- D9 b8 i0 B; uWhy bank will sell 借據給第三者???
; x( r/ ]# Q7 ^: v$ ]I was so confused.....

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講到尾都係賺錢
# o, \9 M2 j1 g% {; o2 L0 {so銀行可以不斷放款- Y: x8 a" Z! S& a4 w% n
美國的房貸問題散佈到全世界
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6 }- f" b3 ^, o- x+ Umortgage loan
0 i- c2 i2 q- T) s& e>conduit
5 l8 w" P8 @! X4 k$ S7 r>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
1 ^( v2 O+ b3 ^' v最後去到投資者

Kev

i thought it is the reason of rate of return.& |5 M9 h- b! @; B
CDs could have different ratings, AAA -> F,
/ v6 `! K( }9 j) G3 Z) Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
. `2 }- J: K" j% e, @, ?$ {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! A$ `  Y" B5 i' Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: @! O3 r7 h9 a& MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* u1 R, e* h4 Z: x, xsimilar to bonds, CDs trading in the secondary market have different value at different times,
$ a* a) k5 V5 T, u8 s& j: Onormally the value is calculated by adding it's principle and interest. : h. l" d4 b( @4 U7 \3 N% n1 `
eg. the value of the mortgage+the interests to be recieved in the future. 2 p" d2 w* b; v# W" ^" m
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.+ S: U: R4 }) i9 q; u
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im not quite sure if the multiplier effect does really matter in this case.# D: |3 s0 }5 x6 T! E1 U
in stock market, it's the demand and supply pushing the price up/downwards.
1 `; h" Z% X, c+ L4 lFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- ]! a7 m. F! ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* \* X( P0 u/ b* F
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.
, b0 B( K# l& ~5 @7 G; xbut 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# N) [8 ?1 w3 K% e5 c6 d7 p8 z
Refer to last example,' u4 r, \5 [  ?$ S1 X2 C
that means bank A have no money because we borrow 10 dollars from bank A / E$ O' i& o8 |5 E
Because bank A doesnt have enough cash on hand
9 S! c& ~) ~4 e+ ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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. j& R4 F2 Q9 q2 d3 O7 I- aA->B->C->D->E5 y) q0 n1 ~! ?/ R+ \
so does it mean if E failed to pay D,
! R2 `& _2 d% s& ]all the B,C,D,E have to go bankrupt?! Z$ \: P1 z0 S% d5 L, b; h7 h
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  T* d& P3 h8 ?7 G! B  Vthe multiplier just tell how much money created in a whole economy,
/ g: ~9 ~+ r" f7 B- \% T$ Gin this case it doesnt really matter how much money is created, 7 R2 d9 |' y# @. W6 W
it's the problem of the debt itself.
7 o  H, D# ^0 I5 R- X! I) q% U9 Wthe 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* G4 K* m/ \8 d2 y* k. _; \, i
小弟一直都唔明...* y  n9 F  u- [
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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...
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敬請各師兄解答# r+ x% z6 j. C6 x+ u: {( Q
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Thanks

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那些根本係 紙上財富  
( B/ v' b7 ?) p( @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! o/ K7 V4 ~: R/ u& E& x  n  P
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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2 h6 i2 u: Y$ W9 s2 S1 U9 e. O
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; H+ Y) ?5 }- p* `) N: q  Y; @& 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
- \- ]) M+ L$ z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 `7 b7 ?! \8 U) D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 H; b; F5 P3 h. B* a8 f' m
計番回報率就已經係50%,所以可以好好賺
# t4 x. N' j' |, S0 n4 ?! I& o6 _$ U前提係銀行之間要互相信任先可以咁樣借法
; T6 q4 _0 I5 S* V  p2 ~同埋個市場既前境要係好先得: B0 Z5 k: b% P+ a6 P
但當經濟一差,公司估值趺了,物價不升反趺0 [9 G! P( _' E) \! Z8 `
例如剛才說10蚊的, 趺到得番9蚊, 3 f2 S% v; e& V0 D- z: U
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( g1 `. _) R* [7 G
所以你就會覺得D錢好似蒸發哂咁' x2 n  Z; y4 {. f2 g7 \$ p

8 s; L6 n1 b+ d; ]$ E1 I6 C你都可以當標野咁諗, 個樣野多人可以狂升值,
# C: A- `& j' e+ f) ~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, " A/ z- A8 E2 M( K3 D8 z9 y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, @8 P3 `& K! X' s: y1 Q& h" I$ g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. l3 H6 {+ K4 c; I3 {
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.gif7 l4 B, ~- }3 M; M% w7 u
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, i5 T$ i+ ~# B8 ^- V) m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, K+ ^/ f0 u  E# q7 [' p, H2 [* 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/ `$ k1 M* Z, t6 J3 ~% W- t
咁你話d錢蒸發左去邊? ...

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% L) @- X1 |# n9 j4 {正係咁樣
% [! f5 ~) K; \. y2 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2 ~* ^) m# ~3 x3 K. Q" E
分分鐘佢地唔使還錢3 y& ]- D& k9 q+ Z
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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,# n( b$ v" A- o/ `
連國家都係問人借, 不停發債券, 印鈔票" e: Q5 p& i5 y: \( P( M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 v) ?+ Y9 m( X; R( @% |
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 g7 z& r% Y3 C咁而家"爆哂煲"算唔算先至係變番"正常"???

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; K; E1 B0 L% Y2 n7 m其實係...
/ X, ~4 _+ {( L1 b4 m6 y因為以前未生產, 先消費$ [7 ^8 s; }/ |/ [" ]
而家就要多生產, 少消費