0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 S6 a4 d, s7 ~" i; f2 I- PWhy bank will sell 借據給第三者???! C7 ]: j" Q: p3 S4 q4 I
I was so confused.....

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! L) t4 u6 U3 y$ C$ G6 x+ T" }講到尾都係賺錢1 U' |4 ~; n# r/ X
so銀行可以不斷放款: v" E! H3 T; W2 O2 a# \
美國的房貸問題散佈到全世界
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mortgage loan 8 @  l! e- Z" E- z
>conduit
( f+ l+ y7 u7 y: L& B>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
+ z) b7 {0 u- Z1 X+ J; X最後去到投資者

Kev

i thought it is the reason of rate of return.
$ v* y" S6 I1 N: L6 w+ m1 D+ E% ]$ rCDs could have different ratings, AAA -> F,
! y+ X" G7 T1 _8 X$ h+ ymore risky ones would have higher premium (interest rate) as a compensation for an investment." y1 X1 P, |: h
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# f7 k, ~8 z; p4 ]1 y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" S7 E) s# K2 E  L' D4 qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 V- I& n% h8 i  {$ T7 ?5 \
similar to bonds, CDs trading in the secondary market have different value at different times,5 _+ h. f; t+ Z9 g1 O: m
normally the value is calculated by adding it's principle and interest.
. s9 q, o, K$ x% Reg. the value of the mortgage+the interests to be recieved in the future.
6 ?. y7 X6 V! M' Rbanks 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 R) V6 U5 p5 g& Z* E( {

$ o8 e- q% I( I, wim not quite sure if the multiplier effect does really matter in this case.
/ b* D* V! v7 g$ L: P0 _/ g8 g8 M0 ain stock market, it's the demand and supply pushing the price up/downwards.
( E# b- k" G2 ]4 c) U; ~( K& u3 OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* z6 f2 i6 e8 k7 P  OA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' s9 d/ }% e& s& W1 B4 DThe 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.
4 H+ @/ `* ~+ u( F9 V6 jbut the value of their assets did really drop significantly.
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& I" E! s5 b8 q- E. @! h9 {[ 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
1 P7 u+ d4 z" m; O+ X3 q& S3 }. ]Refer to last example,' v. ]3 h( A, a
that means bank A have no money because we borrow 10 dollars from bank A
" y! p& T! o4 q& S& ^) R: O  YBecause bank A doesnt have enough cash on hand
" w' R' U+ Y( rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ i# J- B9 B0 B  N' {8 }" Z7 M/ bA->B->C->D->E
5 g! [& I" x9 s* k! Yso does it mean if E failed to pay D,
7 N$ @4 |5 O" s2 |2 Y, b5 qall the B,C,D,E have to go bankrupt?. h" `+ {2 ^5 L& F6 Y% ~

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5 j5 w/ |) C' _6 E4 Ethe multiplier just tell how much money created in a whole economy,
7 v3 S/ G) h% h+ Z7 `; w2 ~$ G6 u/ N' Lin this case it doesnt really matter how much money is created,
7 v& }: `$ e. Y/ J! p# tit's the problem of the debt itself.
/ P. m- e4 g0 K9 ?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
% N0 G/ i# [8 s! W小弟一直都唔明.../ L; L- {+ N* J: `; E! V
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全世界都蝕錢，咁邊個賺緊錢呢?- r5 ?: }1 Z2 C8 F$ n( i

  p: ^$ |, \, |& N& I& l3 n無可能淨係有人蝕錢無人賺架嘛...2 Q6 T& ~" Z9 [+ F
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敬請各師兄解答
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Thanks

4 E5 e' b- |, `. N# e1 R: I9 Z% S那些根本係 紙上財富  - i: `2 G$ i. L: |- x
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+ {- z$ D: B- x8 Z/ t$ r% y% K

" Q8 {  b7 w4 ~5 U8 shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. [/ [; l+ t; w* `& O當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 ]+ y0 G5 o+ b( G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/ X1 w& Z& t( m0 X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦8 E- |' I5 u( U% ?
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ @  ]* m( d5 f- I計番回報率就已經係50%,所以可以好好賺
" l$ I) w% E8 }9 Y" g! l2 }. Q/ T/ X前提係銀行之間要互相信任先可以咁樣借法
% k) ^0 i) v! y- B8 b. _& ~7 v8 h同埋個市場既前境要係好先得. Z" O  U" I9 n( j
但當經濟一差,公司估值趺了,物價不升反趺
( X) r- i2 C+ }) h9 V! X. i例如剛才說10蚊的, 趺到得番9蚊,
; X; X0 E1 }& H" \4 }1 Y5 \) V咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ e/ h! }0 @" Y, o: l
所以你就會覺得D錢好似蒸發哂咁
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1 \1 `& J" C  @2 M* ]: f. s你都可以當標野咁諗, 個樣野多人可以狂升值, - X, n4 R# L9 I$ S  ?. X, H
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,
- ^$ r, A9 h" s# B3 r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # a4 d0 D4 W0 F3 h# Y
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
0 I+ d9 c" o7 f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* o5 e9 N% J) [; |! r
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& r; M$ B3 K. C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: I  I2 R5 A* ]: 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
' w8 ^& `; }) K! t0 |) S5 k/ _# d咁你話d錢蒸發左去邊? ...

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正係咁樣
2 A) ~/ Q& U7 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
& r) a) k, f: s9 K% U分分鐘佢地唔使還錢
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/ L1 T. |0 S5 f$ U# h7 j! ^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,: D* [$ z. ]+ t3 G
連國家都係問人借, 不停發債券, 印鈔票, X/ ]& y6 ~. p! b/ ~5 S8 v; C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: ]5 r3 E+ h7 a% N3 q" ?3 Z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; h# w1 r2 o  H3 Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
/ R+ B7 d, d7 S1 v3 ?8 ~因為以前未生產, 先消費
& z4 F* |0 i+ t, v& I而家就要多生產, 少消費