0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 b) d- G" l' v' a. G2 n$ v+ s# p
Why bank will sell 借據給第三者???; P' z7 A$ b0 O6 c- N8 D; @, D
I was so confused.....

/ ?# i1 k4 d$ c0 G* w, \$ c4 U, V2 j. e# E0 ~. R6 @3 o3 U
講到尾都係賺錢8 g6 Q# R( ?/ E7 t
so銀行可以不斷放款+ O8 T0 \6 \  J3 u
美國的房貸問題散佈到全世界
) Y) K  N( S2 _+ [, D
/ D* i' t1 X, I$ k" R7 K# R7 \* xmortgage loan 0 z, Y, ~4 s! P; u  [; _5 N9 k
>conduit: Y" C1 F- L/ a
>RMBS(Residential Mortgage Backed Securities)
' z, d' z1 v1 ]* e>arranger3 h, r+ D. f/ I" E# S6 @
>CDO(Collateralized Debt Obligation)5 \* d1 C0 i' m2 s
最後去到投資者

Kev

i thought it is the reason of rate of return.! U! x* @* J9 u6 o
CDs could have different ratings, AAA -> F,
* x2 Y- {& f  c4 Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.* g% L8 X, K) H5 v
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# P9 ^& C+ x. ?) @in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  u! r- ~. ~. {5 CAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 i# G, o6 `  c4 E/ T) E. G
similar to bonds, CDs trading in the secondary market have different value at different times,7 X& B+ e1 W( w5 q2 T- c2 S
normally the value is calculated by adding it's principle and interest.
, n1 q: @/ P" K; ieg. the value of the mortgage+the interests to be recieved in the future. * X$ e! ^0 v3 q2 c9 e/ U% s
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." u, v) P2 x9 d7 Y% n
( w4 c7 m" v& T" A. p) d
im not quite sure if the multiplier effect does really matter in this case.2 N, o) M, K4 v; a* B3 f
in stock market, it's the demand and supply pushing the price up/downwards.  G. p1 t& L7 m/ z$ O, \" y/ W
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 E4 d9 r$ o* ^6 _. }6 {1 f
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 I' S0 A; w/ n9 w+ n, f8 fThe 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.
/ M8 D/ b0 d+ _. kbut the value of their assets did really drop significantly.! m1 v7 d3 Q' W3 v
3 {4 w9 w/ O. _& x; p+ E7 I" z/ i* L
[ 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, p0 c- f1 T3 a
Refer to last example,( U: b" B6 D" j& v. S0 W& A8 Y
that means bank A have no money because we borrow 10 dollars from bank A & j) R0 a4 P5 }- {  Q, L
Because bank A doesnt have enough cash on hand * Z* g; a/ }# K- {: ~
therefore bank A need to be bankrrupt ??? Am I right ?? ...

$ V& u( k+ d1 m4 }" l% j6 F% }9 D; A

4 A. C7 k% c2 w9 ~0 pA->B->C->D->E" r1 L/ k" t* D7 [8 V2 F
so does it mean if E failed to pay D,
4 Y& b8 q4 j* l) F! Y6 Y% M- Zall the B,C,D,E have to go bankrupt?" u6 D1 a5 K4 B
. r- O% ?% I! \
+ @1 e2 r" N* D
the multiplier just tell how much money created in a whole economy, ) u2 K/ e0 X5 X4 ~; T" i: x6 s
in this case it doesnt really matter how much money is created, ' m9 O& z  H( Q1 b
it's the problem of the debt itself.
# c4 C9 R8 N. q- othe 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.gif3 I) T$ E  i* p6 ^
小弟一直都唔明...
/ ?7 L" n' }) R% g
) B& c4 p& ]9 i8 t全世界都蝕錢，咁邊個賺緊錢呢?
8 W5 W( u( S+ t2 Q1 l
4 @' ?1 v% e( W5 B$ b無可能淨係有人蝕錢無人賺架嘛...! ~4 ?( b( n# b* g, w3 v/ F/ O

/ [+ {* g# h: O* e敬請各師兄解答
) I5 h4 s; L4 S, N3 r
+ B0 a$ A) T4 z' _) H7 D" v; tThanks

0 ~. ?6 p  P9 G那些根本係 紙上財富  
  W  n. h  C0 j7 h- ~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
8 q* A% ]2 L7 u, q4 I
! L0 W+ i8 ^  i4 |- Q0 Vhttp://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  {) a4 d" O5 m, D9 e* [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 d' ?$ w; P, K1 |: \: _8 }
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, _- d6 [: P: S# f2 R
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. S+ e- Y+ k: i扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) `9 T# j6 B0 ~: S1 q9 |' T& k& ^計番回報率就已經係50%,所以可以好好賺1 `. ]8 j2 ?4 u, g6 N" C/ O9 ]
前提係銀行之間要互相信任先可以咁樣借法
5 P  O% r+ y  b% m8 X同埋個市場既前境要係好先得
! r9 s) Y1 u+ I* K0 Z3 m但當經濟一差,公司估值趺了,物價不升反趺
- X( y9 i4 \# a$ J* x9 k" A. p! }9 M例如剛才說10蚊的, 趺到得番9蚊,
4 j; \* k, ?4 R, A! [咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: u% M* X/ e! J& j8 M# X: G5 T所以你就會覺得D錢好似蒸發哂咁
4 P( i& ~) H2 I4 R) @; C7 a3 B
8 Z* a1 }& A7 n$ c4 m* A你都可以當標野咁諗, 個樣野多人可以狂升值, 4 o) b: j8 f- ]! p9 T. J
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,
; h2 x7 N: F, _/ F' O$ H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" K" x- |2 {% U8 q8 Z0 [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) G0 C7 i( M. f3 c% E0 {$ q1 P
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
. ~$ V0 h0 P4 O  x' }# X唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% t0 V( z0 F6 u. i- A/ F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 f8 H4 F' x* U3 ], M0 u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$ u& h; P5 _; r0 O# p8 Y
咁你話d錢蒸發左去邊? ...

( U7 M1 o5 p  |# A: w0 ]7 ^+ ?0 k5 O2 U! W  }
正係咁樣
# E/ E6 [9 P: ~/ L' @4 D% M/ s, w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: f/ ~. Z5 ]# R8 u4 L' N/ b, W* W( q
分分鐘佢地唔使還錢3 ]' B7 e( `2 |. m' ]0 `& D% \8 F$ @
, y' n& X( y) c) V
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,7 b6 u/ Y2 a2 v' {" B3 s
連國家都係問人借, 不停發債券, 印鈔票6 I) t/ _% _* {: q1 k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 }3 y6 f$ x6 G: S
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/ L4 `$ j& P6 U' b) Q# d
咁而家"爆哂煲"算唔算先至係變番"正常"???

% \5 I- X+ r: v$ t8 o) l* ^+ G/ P/ {+ G

5 J  O: j/ ~% {; s, m7 |其實係...& B& \) n$ x1 D
因為以前未生產, 先消費
- F2 f+ @1 {8 A, a7 ?0 U; l3 y而家就要多生產, 少消費