0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; H% Q1 c( c9 z( I$ S" GWhy bank will sell 借據給第三者???
- U2 U+ i; I7 J1 D1 s  ~- A" eI was so confused.....

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講到尾都係賺錢
8 a) Y+ B3 [2 ^so銀行可以不斷放款5 F7 s( N* M7 m( ]2 a: b- w
美國的房貸問題散佈到全世界
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- I( H1 \" J! l  y. ]' [, nmortgage loan
5 f) i/ C  E' i4 U>conduit+ T4 A8 S" j9 y, Z8 H
>RMBS(Residential Mortgage Backed Securities)6 E. y2 ]/ a3 P. s( J. }* U  M
>arranger
/ J, A# i1 B' l4 i" p5 ~1 W8 a+ v- |! ^2 f>CDO(Collateralized Debt Obligation)/ t) ~1 J( C+ q
最後去到投資者

Kev

i thought it is the reason of rate of return." P8 Q# g& n: C, L3 P
CDs could have different ratings, AAA -> F,: Q" Z  I- `1 H3 D( g5 Y  ?. h8 N
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& H: j! m7 E; D+ A. r2 u$ C5 Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 d9 u7 c, o& C9 E  m; J# C
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 i4 c  F1 L. r7 r
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' U5 a: }% P. i/ tsimilar to bonds, CDs trading in the secondary market have different value at different times,
7 [' I  j0 b" }* ?. `$ z. tnormally the value is calculated by adding it's principle and interest. 7 v3 r' j, b& u/ J
eg. the value of the mortgage+the interests to be recieved in the future.   i9 v+ g6 U& z8 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.6 Q* q! O0 }/ ]4 `1 T

' s% P0 |& K; sim not quite sure if the multiplier effect does really matter in this case.. @$ |- [# K7 i* l3 B( A; P" v
in stock market, it's the demand and supply pushing the price up/downwards.
! K! e# K9 v) x3 j$ yFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! T; F' f3 X, B/ @' _9 S0 ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., ^# q# `/ O% s) J( A8 [# 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. / n8 Z1 t" ~' o% Q; H3 _# i: k
but the value of their assets did really drop significantly.( v' b- d) \0 _, `3 q

. |8 Q6 A* ^% E1 q# J[ 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% T0 V4 \" \& ?' K! |
Refer to last example,
' @" d. n9 B1 y, O7 c! v* x8 F# h. _that means bank A have no money because we borrow 10 dollars from bank A
$ U. v5 ]2 t2 x7 U0 u, UBecause bank A doesnt have enough cash on hand
5 ]8 Z: u- E8 Z3 ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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( N* \  L8 {2 M! |  y/ sA->B->C->D->E; p# Y: K& g7 ]4 z
so does it mean if E failed to pay D, . \* O/ E5 _* S2 E2 m. T$ L
all the B,C,D,E have to go bankrupt?4 e0 ?2 ?2 V3 r) F" H, F
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. o  i% @" t! a; ?the multiplier just tell how much money created in a whole economy, 6 d: x- S% z! ^
in this case it doesnt really matter how much money is created,
+ \& q" L0 t$ |" r! L9 ~8 V  }) @it's the problem of the debt itself.9 w1 T! ?2 D0 B& `! 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( ^7 o' _" n( \$ k9 B3 L
小弟一直都唔明...
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: \) y  i9 @8 s$ l) Y3 x9 j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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9 c2 ]4 p5 \6 [2 [8 u敬請各師兄解答$ d* Y5 K6 F, M5 ]
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Thanks

) b' ~( z0 {- k+ @1 M那些根本係 紙上財富  ) m. i5 J0 p1 F' w) Y
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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! d; O3 r$ G& t3 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
0 k8 U' X. q& @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 E3 Y' O$ p: y% k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 X* Q+ X: g4 `, \1 Y* v( K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ `, S8 h$ ~; }& n$ {8 G( g* I& E. d  f
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ p1 \9 [3 w7 R1 C5 }
計番回報率就已經係50%,所以可以好好賺: Y7 A8 |  L% j$ s+ Y" ^  {( k8 x
前提係銀行之間要互相信任先可以咁樣借法3 B/ G/ F$ t) E2 b
同埋個市場既前境要係好先得
8 X; }( k, y8 t. t1 |但當經濟一差,公司估值趺了,物價不升反趺' y* I; q% d+ S* Y& l( o
例如剛才說10蚊的, 趺到得番9蚊,
6 h) x( t2 {' k! Q% M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 d2 C4 s/ _5 t/ x2 y8 O
所以你就會覺得D錢好似蒸發哂咁  E( E6 b- ~, ]- K8 T* d- v

: M6 r, a+ a+ U& Z( y3 A' f# @你都可以當標野咁諗, 個樣野多人可以狂升值, 3 [1 W8 u* ?5 v9 C3 G
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,
/ s( K" L3 R. K淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + X9 [" r) i4 `& V. T
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+ e# L1 L* H6 h3 d# S) x
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
$ [  [2 M# g8 v: k  [) n* j0 H唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 _3 q, U+ d5 ~& _( Z' A( C1 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; z1 I' L! @* J' x, J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( S: F6 g7 f3 g5 j
咁你話d錢蒸發左去邊? ...

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正係咁樣! E$ m  |% |' N5 p9 Q3 B
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* E- a; w  ]5 |! R6 z4 Y
分分鐘佢地唔使還錢) E: ]1 h7 f: ^% V; }

# q* O/ s/ c6 Z0 c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,
6 g( j3 I( R7 z, x- o* G0 [連國家都係問人借, 不停發債券, 印鈔票
9 s( t  A3 V/ X7 P0 N  o4 b+ d: U一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' w0 h" W8 b0 T1 k& M* ?5 C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
# D' R! e( ]2 p: l. ]咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! u& b" }4 X( S4 r, e# O
因為以前未生產, 先消費. E$ u4 z4 o# @, A1 |$ Y( n% z5 `
而家就要多生產, 少消費