0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% Y4 X' x8 x+ c4 f  SWhy bank will sell 借據給第三者???
+ T: b$ r! }( W+ W4 r( e* W4 V# SI was so confused.....

; F) f) Q' Z* {$ n5 g; ^7 O# I( C+ q$ B# v, P" w1 Q
講到尾都係賺錢
7 R" Z1 ?- f  p/ t1 uso銀行可以不斷放款
1 P9 C. M- g9 M" w( c0 u+ }美國的房貸問題散佈到全世界; q2 [+ B0 A! E+ T( U1 @: ]
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mortgage loan - D1 A( r; ~7 D, @# g# }6 ?, }
>conduit% m8 g+ q4 \9 ~4 d1 O2 b4 t
>RMBS(Residential Mortgage Backed Securities)5 q3 m, N2 D$ x) n( m3 H
>arranger. c. U0 ~! |. `
>CDO(Collateralized Debt Obligation)! M, A2 G, B- d1 p3 l+ X
最後去到投資者

Kev

i thought it is the reason of rate of return.0 ], }5 z: u1 ~' Q* e2 c4 k
CDs could have different ratings, AAA -> F,
7 O% Z9 g8 z) U" W, F7 Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
; X4 {8 H0 m* Z# F- Kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ e6 b6 M+ Q! ?1 N% Sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 L! s$ d( n( e' l' U' C8 p/ aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 a* [7 X& J* rsimilar to bonds, CDs trading in the secondary market have different value at different times,
  N4 Y' A' {+ |) E) Lnormally the value is calculated by adding it's principle and interest.
% N$ @( E5 B3 u9 S+ d6 K  b3 Eeg. the value of the mortgage+the interests to be recieved in the future.
0 k4 R" u: c+ s+ sbanks 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.
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' s3 E) n& E( ^1 Z* yim not quite sure if the multiplier effect does really matter in this case.
/ P* g3 s, _% _0 Hin stock market, it's the demand and supply pushing the price up/downwards.
7 K6 P, A5 B( c. VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 S" _1 `0 V- s
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ {2 m" l6 G8 @/ o) `* Q; [) Z
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.
7 g6 b0 {( E, Rbut the value of their assets did really drop significantly.
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/ Z5 W! w  \& U: e[ 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
3 s2 t- C; H; m3 |+ GRefer to last example,
0 ~( c  i% V0 h& Gthat means bank A have no money because we borrow 10 dollars from bank A 2 z0 h2 f2 ]* q2 O- r) b
Because bank A doesnt have enough cash on hand
+ B7 D: i- t! ?5 qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
3 r8 L9 i& X' cso does it mean if E failed to pay D, 5 z# b7 G. \* @5 {! w6 l  a/ F
all the B,C,D,E have to go bankrupt?
9 o6 J0 \/ f% X8 u4 ^" x2 C% Q  Y& `) v" P& I

3 R; s1 L; l; U5 qthe multiplier just tell how much money created in a whole economy, * z2 N$ Y% T; A, j& U8 T, @
in this case it doesnt really matter how much money is created,
8 w$ _# v5 v# D/ a2 `it's the problem of the debt itself.+ K; }# o3 S3 p0 p' `) ]+ a* v( _
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
. d& [/ N! x+ o: _1 q小弟一直都唔明...
; `2 I' Y$ z- _! h7 ?
* U# y5 @+ C1 F1 I全世界都蝕錢，咁邊個賺緊錢呢?8 W' g$ h( z; M0 w  ~8 z, u7 h+ R3 \! _

1 b: _, o- S- q/ \6 g無可能淨係有人蝕錢無人賺架嘛...0 o& G! V" x) V5 j" K% o5 e+ D; ?
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敬請各師兄解答4 F! R- M" e. n
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Thanks

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那些根本係 紙上財富  8 Y, _" d, @& I) f
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 graphic4 {$ m. @5 s9 }. `/ n

1 l% H$ J" A1 g4 _; w+ jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
' x; l- N# [% \0 W$ \' U, `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ M# M) }  f6 g8 C7 t
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; }/ r, I% i7 r; {( h! v* j3 Y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" ]  p5 l' W+ D4 ?5 _
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ z/ T& ]6 [' r6 e; D$ _* @計番回報率就已經係50%,所以可以好好賺
% I% t$ Y/ P' x) b前提係銀行之間要互相信任先可以咁樣借法( S+ B1 s! D, s+ d( c" H. b
同埋個市場既前境要係好先得
( T8 j6 ~8 p  D: Y& [但當經濟一差,公司估值趺了,物價不升反趺
' @! {" I/ P& \8 x例如剛才說10蚊的, 趺到得番9蚊, # A) X! H6 q- A4 Z! E
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 [+ ~3 ~- v1 N2 i- A2 c7 C
所以你就會覺得D錢好似蒸發哂咁
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1 B' c/ b* W) t你都可以當標野咁諗, 個樣野多人可以狂升值, $ e9 i& [% m( R6 S8 v) 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,   i0 z, A/ k: H4 \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: A2 J& w  R" o+ L2 p) I1 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
+ o2 O+ U: p1 D$ F5 l! G7 W1 O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
, r) }& {/ o2 s. d6 T# c唔係d錢蒸發, 而係比美國佬洗晒未來錢, & j: f0 d- W$ e) i) |
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 j" O3 I; R; f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( H3 s$ o5 }! q; q0 Q6 d) o! ~2 |4 i
咁你話d錢蒸發左去邊? ...

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0 C- c; m+ a* Y- f* G. m0 @正係咁樣
9 Q1 S" G% ~* U! U* {" k7 F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9 g5 G) ~9 z' O4 F4 Q+ \
分分鐘佢地唔使還錢
8 L- E. O. B, r' T/ Q+ a! T& ^" x9 r4 o! 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," q# w- ?, o. Z& X0 Y, I+ \
連國家都係問人借, 不停發債券, 印鈔票& Z( p; ~# H4 i* Z, \- Z9 D1 Y
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 c& J. {6 _4 \  Y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
) K( ]$ L: D: S! M/ O咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 I- H3 n+ I" D; j其實係...
4 B; Z) g. M6 X$ b( Y因為以前未生產, 先消費
  u8 K  ^8 ~! K& B' T8 s; N而家就要多生產, 少消費