0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, m; I8 `: ^4 {  {$ V0 |& L( JWhy bank will sell 借據給第三者???
$ k8 u5 r& j, XI was so confused.....

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講到尾都係賺錢% T0 {+ E! V2 p: b
so銀行可以不斷放款
0 x9 w2 L4 ^( t4 g4 u美國的房貸問題散佈到全世界
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& s$ o" r1 X6 V) b0 d5 Emortgage loan 2 c( J1 ^5 w: r- f1 [3 }
>conduit
8 y" E3 J3 T1 X>RMBS(Residential Mortgage Backed Securities)
2 l- f; P9 g+ |3 \; |& C7 ]>arranger
; z+ G5 I. G+ X2 f) u7 F" a>CDO(Collateralized Debt Obligation)3 a$ h/ w. ^0 w4 m1 c% O# O
最後去到投資者

Kev

i thought it is the reason of rate of return.
) W" X6 [$ F) ?CDs could have different ratings, AAA -> F,
8 |/ P, o% ]& L! vmore risky ones would have higher premium (interest rate) as a compensation for an investment.9 c% O; O6 r# [6 i! n/ ~4 ?) [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 i7 y. \0 h9 t
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. V- g: n$ X: C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) y, k* x" J8 h/ ~3 tsimilar to bonds, CDs trading in the secondary market have different value at different times,
: F" I1 z" n! l5 H6 R9 G4 vnormally the value is calculated by adding it's principle and interest. - n" r5 z. l2 p! \! P+ @- @
eg. the value of the mortgage+the interests to be recieved in the future.
8 \0 h3 w4 I, J+ }  O4 cbanks 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.' Y! A9 G. A9 q! R: [0 ]* l
8 e% \# H8 ^- w2 u
im not quite sure if the multiplier effect does really matter in this case.
2 `9 j7 o2 J# q" B! t+ `8 ~9 ?6 Fin stock market, it's the demand and supply pushing the price up/downwards.
) `. d5 m! R1 x5 q! cFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( c' ]! ~2 d: ^/ G. b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& l5 |* Q0 ^# L1 {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.
. N5 N. V. m8 y2 M" Mbut the value of their assets did really drop significantly.8 e& C' p. K7 F% p; W

0 }) l' ^3 i6 q. H[ 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' P8 u! J' ]7 P: A" R) y! U
Refer to last example,
: \: N" ^+ z4 h) X$ N0 vthat means bank A have no money because we borrow 10 dollars from bank A
& j. g" Y4 M+ l! M4 u: aBecause bank A doesnt have enough cash on hand , n) C( A( T  k; N" Z" }
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# @; d7 D( I% J# m0 G7 f5 c5 hA->B->C->D->E
" F6 A7 w. y, B# O8 p2 bso does it mean if E failed to pay D, 9 `; _+ t: [' @2 C6 k6 m
all the B,C,D,E have to go bankrupt?
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( w( a7 a# |! \# U) d4 Pthe multiplier just tell how much money created in a whole economy, 8 |/ E7 r; K+ b# e* t
in this case it doesnt really matter how much money is created,
% E: J* {7 u) ^. x( [5 `1 Cit's the problem of the debt itself.
9 m) S5 O; M( e8 h) u! Ethe 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: I! u& ?  j% Q1 {
小弟一直都唔明...6 S- V& n" T' o; l0 \
1 f: K1 D' y+ K6 v
全世界都蝕錢，咁邊個賺緊錢呢?" N* N. Q9 m* U6 U) _, u

% d* U' v; ]& q. v: H無可能淨係有人蝕錢無人賺架嘛...0 X+ b& l% D' g/ \( V# ^8 i

8 t' [8 O  d4 z敬請各師兄解答
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, S$ z) K6 H0 O0 M" p! zThanks

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那些根本係 紙上財富  # ^7 A2 `5 u' M& A
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% P2 x  Y  G& l9 }1 J$ ]
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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! K' f; j. E9 i2 F0 A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; q' X7 P) ~4 g, t9 S
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# g$ t2 V- K' ~" |( J  t5 A% h
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, s; M  |! `2 V/ P- ], q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 a7 J. x. E1 Y2 \) b! ~! q計番回報率就已經係50%,所以可以好好賺
6 V; C$ D! \* o1 V9 V2 G前提係銀行之間要互相信任先可以咁樣借法! d! V( ~, |. v# V( r" f: N
同埋個市場既前境要係好先得
3 Y0 J! R5 ?( w8 j. l- \但當經濟一差,公司估值趺了,物價不升反趺, J  L$ w3 l" ?- J
例如剛才說10蚊的, 趺到得番9蚊,
( u) f$ ]& f9 J咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
- d7 H2 {2 }3 j8 [4 O所以你就會覺得D錢好似蒸發哂咁) Q5 p6 t9 L) K1 L  m

3 D- `1 _9 w' v0 o- F- G# O* U* ?$ J4 z你都可以當標野咁諗, 個樣野多人可以狂升值,
. a1 L- c1 o; I* P& @! ?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: [# `  c1 ^; h0 ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 j0 x$ F/ G7 i4 w) _8 ^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
. l& F2 I" ?& ?! [' h9 ]3 F8 ?1 C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
9 d' C  E9 c& l) J唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; |0 G. `1 X0 P3 c' y4 \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! B, K" U+ f, W7 \* W2 g7 v. d" ^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* ~! j! g" K" p' M( R3 {9 b: V* d
咁你話d錢蒸發左去邊? ...

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: @6 `9 j8 n4 e3 W/ s6 v8 u; e正係咁樣
. Z5 r! d3 G5 {  w5 |* v& q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- F) y/ ~' D9 q$ a% s
分分鐘佢地唔使還錢/ r  w* a( y0 Q. E7 S/ A

$ S+ e- l7 b/ G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. Q+ O; Q2 H! A" z連國家都係問人借, 不停發債券, 印鈔票
* l' n: x0 Z; o7 z3 K: y一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- D, _% O" a! h3 R( |
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
7 q4 u$ l7 F# S' f" k3 {5 ~咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
4 R0 [' ~! g& i$ C6 _- ~因為以前未生產, 先消費
9 c/ H! F( L( ?. A- e2 \9 h6 @6 F而家就要多生產, 少消費