0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- {- X# |- V( v6 Z# FWhy bank will sell 借據給第三者???
& U5 ~/ z6 G- N, ZI was so confused.....

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講到尾都係賺錢& ?% }( R# J' c8 H0 ?( I* W
so銀行可以不斷放款0 }$ ?- n8 L, n5 F& f9 [! J
美國的房貸問題散佈到全世界7 \* I* w+ l/ ?7 {2 d
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mortgage loan 0 ]& g3 l6 t/ d
>conduit# k( x' y+ v+ K
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation); M2 C. j0 S- o, r3 r9 G
最後去到投資者

Kev

i thought it is the reason of rate of return.8 ?0 g' p* @. d* \3 }9 D( A. z
CDs could have different ratings, AAA -> F,1 N% k  [0 C( p1 g
more risky ones would have higher premium (interest rate) as a compensation for an investment.
$ P( |6 L% w$ n- l$ v: K6 R: }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  _3 B% x0 i% A1 o. t+ cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., |- ]6 m7 r$ p' n
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 @, v+ y2 q, z/ jsimilar to bonds, CDs trading in the secondary market have different value at different times,
, h4 D3 g/ Q" ?  q" E# M- gnormally the value is calculated by adding it's principle and interest.
$ f, `* y8 H, }$ Z6 aeg. the value of the mortgage+the interests to be recieved in the future.   l* d+ |" Q& X% J
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.! r8 X* G3 I- h- O
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im not quite sure if the multiplier effect does really matter in this case.
0 y3 w& k+ w+ ~- ~/ @% P/ fin stock market, it's the demand and supply pushing the price up/downwards.
" ~8 `6 b  u( ~0 E  JFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 w" O8 x8 L9 S( u5 G. ~3 J3 GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' l8 ~& O6 g) VThe 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. 2 X, k! F/ n2 H  F) L
but the value of their assets did really drop significantly.
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[ 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
/ W5 o0 ^- t8 iRefer to last example,- P" o+ J5 K$ l: D) ?( X
that means bank A have no money because we borrow 10 dollars from bank A
6 M' r9 q/ E. @5 y  H; {* R4 dBecause bank A doesnt have enough cash on hand
+ n3 r; j6 e6 s! @therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 H3 V0 Z( Y2 Q+ f- z2 }/ X" v# w
so does it mean if E failed to pay D, , Y+ v! ?: {5 M" r7 V5 [+ x; R5 Y
all the B,C,D,E have to go bankrupt?! ?5 e8 T  E  L1 `! ?4 S

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the multiplier just tell how much money created in a whole economy,
2 h: P) S( X1 s$ R$ F1 P) uin this case it doesnt really matter how much money is created,
% R: S  [# B$ |0 _# U$ @it's the problem of the debt itself.! L8 x' L) \! M5 [
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
5 f. U8 e& P0 i0 m$ o小弟一直都唔明...( ~- J! y& u7 a) |

5 ^4 ]6 f* j$ k全世界都蝕錢，咁邊個賺緊錢呢?+ ^) q/ M4 n" G! T# G
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無可能淨係有人蝕錢無人賺架嘛..., f1 _8 S, V" s2 [; J
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敬請各師兄解答
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' n7 o5 Q+ _5 a0 I4 |Thanks

; @# t3 Q; C" C: j- `- g+ m9 F那些根本係 紙上財富  2 r0 G# d. M0 h( I# k
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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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
/ j. m+ \& Z& w" u! m# d當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ H+ ^" E  c/ D1 t! z* b& s( 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# @% p, g, W4 O  X, Z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ a# \8 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,5 K3 V' i6 a' h( N; y
計番回報率就已經係50%,所以可以好好賺
  z5 `: Z% F' s4 J5 H  V- I# K2 B前提係銀行之間要互相信任先可以咁樣借法& ?+ Q0 [# u# h+ |
同埋個市場既前境要係好先得- ], {6 ^9 _5 S3 r
但當經濟一差,公司估值趺了,物價不升反趺
# @! Z/ O  f0 K8 J例如剛才說10蚊的, 趺到得番9蚊, 1 N. g1 e- k1 _9 N: ^4 c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ J& {# Z# ~) S- E# Q7 A
所以你就會覺得D錢好似蒸發哂咁9 N! @/ G* w3 C9 f+ Q& W1 _; M
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你都可以當標野咁諗, 個樣野多人可以狂升值,
6 k7 _' M* h( L! N  v' a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, 0 I% A/ @7 [9 d; g$ T1 i3 j. y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  _- g: W, r" a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* K2 b0 h4 e& i& C+ G# i6 H# K& s& H
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' w$ j) L6 v! U; U) F
唔係d錢蒸發, 而係比美國佬洗晒未來錢, / m" g  r. W8 I% B8 l! c: C
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , r8 z: e0 b# ]
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" A: p- b2 N3 E* [4 A8 a4 p$ P
咁你話d錢蒸發左去邊? ...

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正係咁樣+ e' @3 |. a* C
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" B3 M- o. x, d2 S
分分鐘佢地唔使還錢
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1 L, _% @+ x5 J( I) o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,
0 _5 W" j+ |( E" w! z連國家都係問人借, 不停發債券, 印鈔票/ O9 D- Z6 B0 F- |, Z9 d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& {6 m& I& e8 v. P/ ?4 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+ \$ r2 u" r: ]/ |0 p' p
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 l2 A$ \$ P! Z5 F2 Y" i/ n
因為以前未生產, 先消費0 ]0 [: F' h  B1 O* q
而家就要多生產, 少消費