0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 R* u7 @+ a6 o! ]! K7 p! j9 K7 O
Why bank will sell 借據給第三者???2 n& \* S2 l5 y4 m2 J
I was so confused.....

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$ G8 v. I7 a3 G  U講到尾都係賺錢
( L! w2 i/ x, gso銀行可以不斷放款/ _" h$ ?0 P6 y9 O
美國的房貸問題散佈到全世界
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9 K( D, p3 ^  C% S! j( Y! Dmortgage loan
4 n; C# X7 M" E4 f# K9 C>conduit
- Z) h( `* C9 F& q0 g; f2 W+ _( G>RMBS(Residential Mortgage Backed Securities)+ S+ ?1 Q; X' a, |% l  g
>arranger7 E/ l1 p/ N4 ~
>CDO(Collateralized Debt Obligation)5 j, S0 @! @8 \" e+ N: R+ P4 ~
最後去到投資者

Kev

i thought it is the reason of rate of return.( [- I- x' v" v  I
CDs could have different ratings, AAA -> F,
( w% L/ `! \7 Emore risky ones would have higher premium (interest rate) as a compensation for an investment.
0 }: |" P" T* V" p  V. U3 Lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ c) L- `2 b5 L# kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( s  u7 D2 P' k* h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& x$ @* s( ]& I/ a# n  Z+ msimilar to bonds, CDs trading in the secondary market have different value at different times,
/ _5 n& q3 Y! O, R+ T2 Dnormally the value is calculated by adding it's principle and interest. 0 Y; k' e) B( d
eg. the value of the mortgage+the interests to be recieved in the future. 1 d9 Q. b8 Q/ g% H. J% T4 {0 n# r
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.2 F# [. e8 y/ F) d' q

& S! @6 ^2 u7 A6 j0 Mim not quite sure if the multiplier effect does really matter in this case.4 o$ O4 m( c3 t
in stock market, it's the demand and supply pushing the price up/downwards.% o0 @, _1 E! b4 X( G; ]  d1 `* t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 ?+ n$ o8 `( j4 lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- B" Y% m$ I9 k' 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.
0 X) P' ?) ?/ q7 ?but the value of their assets did really drop significantly.
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' y: U2 w. H" w4 s, ~[ 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.gif8 ?" U$ C2 Y" P2 ^
Refer to last example,7 |2 n9 N1 V3 A* Q4 v7 ^
that means bank A have no money because we borrow 10 dollars from bank A
# w  J  K; t/ W, U( OBecause bank A doesnt have enough cash on hand
3 F* k- x3 x* C% E% ]4 P7 b! ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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" ]7 i# @7 |5 Q4 S, N7 YA->B->C->D->E
/ x' D) g9 E# z9 _! U. zso does it mean if E failed to pay D, # O" _1 B3 G, X
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, 3 K; I. ]1 g1 {
in this case it doesnt really matter how much money is created,
. B! C4 c" ^' ~! Z0 W: fit's the problem of the debt itself.3 Y4 W; r1 N5 c0 P0 _- Y. u
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
  U0 v, ]# ^( d4 \2 \$ R% `. e0 p1 o小弟一直都唔明...0 Q6 X1 K6 L  L- x2 m

5 u. m9 c7 o$ a" N* B8 h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...8 L- u7 k& L( A0 J7 B. v4 ?0 f# g

+ p8 o& R; K: C; W. S( `敬請各師兄解答$ J6 O: a( J) ?# y1 E
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Thanks

, B$ e. h5 {; g那些根本係 紙上財富  
; p- K; ?) h! F; V: H* E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) u6 F5 ?. }1 d, S
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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1 A/ W# w" U/ X6 @9 w9 V
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ X7 _4 Q. w7 X* R& f5 M# D/ z" W: }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
  N% N7 u' u2 P' z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 j: @  a7 a4 e' K0 \4 d$ o" t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" A" d1 q% f. t3 I, J6 k計番回報率就已經係50%,所以可以好好賺
* q$ s+ i6 H  m" B前提係銀行之間要互相信任先可以咁樣借法; V' L. o& n) M, l; _
同埋個市場既前境要係好先得, a% s8 R1 V$ S
但當經濟一差,公司估值趺了,物價不升反趺3 j+ t5 \1 t9 l
例如剛才說10蚊的, 趺到得番9蚊,
4 D1 g4 H( L& X3 f6 o& V4 H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ q/ u. ]4 [5 c$ P所以你就會覺得D錢好似蒸發哂咁+ c. c* P/ ]4 O& m' O

  Y. F: J& |* K. K  ~# y. _你都可以當標野咁諗, 個樣野多人可以狂升值, : U3 A1 a0 B+ E& M
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 s- j3 M' Y; c* i* N! {( g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * ~! O7 h6 a7 x2 s. |# q5 p% E
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) P/ L. T( p' g
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& d3 W( V9 i1 L
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- I" e+ c. ?3 y1 }( h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 J. g6 C; \' p& i" v% C
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 e( w* l4 \/ \
咁你話d錢蒸發左去邊? ...

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正係咁樣" K# s- v/ p% W4 G2 Q$ j; J) d( A7 O. A
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
' u* E* x& j2 E9 o  h+ A分分鐘佢地唔使還錢" X( u) \+ \( l: G" u
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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,
; c% J( u' a$ ]; H連國家都係問人借, 不停發債券, 印鈔票" I$ c& ^* s2 Z! `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ t5 C5 q3 K# j
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$ F7 O7 H# u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 B) t* V! D: J- l$ K! t其實係...; u: U- Y" z& q* ~5 C- E$ n
因為以前未生產, 先消費# E- N% C" [6 m  P- O
而家就要多生產, 少消費