0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% w$ s' d' n. v) PWhy bank will sell 借據給第三者???
7 O0 \% l; ^* u5 e/ ^I was so confused.....

+ s7 B# S5 `& h* Q! C5 `& ]% w9 A2 l  M: Y; \9 t$ i& x5 U2 }( V
講到尾都係賺錢; D4 G! d9 i- {0 n, x
so銀行可以不斷放款
1 R' q! X4 T; z, `$ ]3 l8 ^美國的房貸問題散佈到全世界2 X" `7 j4 x2 [
. ^$ y6 k2 ?( g2 W$ c9 K4 F
mortgage loan
" ^% v; P) b3 ^+ E, `; ~/ M>conduit2 Q& |9 e' u! Y& d3 c
>RMBS(Residential Mortgage Backed Securities)- t# V5 N& }, K
>arranger& J" O$ o' J" X. b) `3 B! r
>CDO(Collateralized Debt Obligation)
3 ~4 a0 W$ T, D' N/ L最後去到投資者

Kev

i thought it is the reason of rate of return.
2 T7 T" e8 D8 X. n0 q2 cCDs could have different ratings, AAA -> F,  f: \) ^" X+ h. f1 A
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 E/ t7 y! x8 O- c* f( fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; ^0 ^8 K: P' ?$ t& pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 X* k% ?6 l0 \% z& o+ W/ m- i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( F2 S- ^, u1 N; q* ^( T
similar to bonds, CDs trading in the secondary market have different value at different times,
5 ]/ w) K9 O3 ?/ {( h6 [normally the value is calculated by adding it's principle and interest. & H# b' k# i- v6 V. @
eg. the value of the mortgage+the interests to be recieved in the future. . B$ [3 w" T, a+ M- `, I
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.1 o1 B( R7 d. d, Y0 o) T" T% c& Y
" n: l9 j" Q0 J
im not quite sure if the multiplier effect does really matter in this case.
6 X5 Z: ]0 g7 l7 oin stock market, it's the demand and supply pushing the price up/downwards.
8 J6 `# d3 H+ y* G% e7 ?For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ G$ g+ C8 `  G+ @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ B( I4 ^" f9 a4 G! s$ L
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. / J! k, p0 A* {9 {" X
but the value of their assets did really drop significantly.
  M0 C/ c: g+ L  ~7 E3 H
5 q/ B9 e; W6 x2 x. t* m' h' Q[ 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
+ G8 Z; W9 V: M% ~Refer to last example,
. s, t: B8 P# ~" t6 o4 }that means bank A have no money because we borrow 10 dollars from bank A
+ E3 j' ^, ?# j* IBecause bank A doesnt have enough cash on hand 9 N, {2 F+ _: M* ~  z( s1 R  W9 e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

: x* f; Y/ J+ ^" T; q3 S; {5 \+ _  m- H3 t, ]& ]+ n9 z
4 u8 i3 z/ M3 M; N$ k7 e
A->B->C->D->E2 m8 d7 `9 I' Q
so does it mean if E failed to pay D,
" ^* D; ^. X+ t" N+ uall the B,C,D,E have to go bankrupt?$ l/ E8 c/ |* ?" C

' h& D* E$ E% E5 Z
4 B- U7 O9 u7 [. Cthe multiplier just tell how much money created in a whole economy,
) h- Y. e% e0 Yin this case it doesnt really matter how much money is created,
: @  ]8 ?* y) ?* Sit's the problem of the debt itself.; ^/ R; @, ~( h
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.gif2 |8 n5 \1 F  ]- o* V
小弟一直都唔明...
# _2 B/ H( M+ k& Y2 A1 o2 Z/ E/ I) u2 _7 K; G+ \
全世界都蝕錢，咁邊個賺緊錢呢?
8 q. N0 Y2 \8 X; z9 u( W3 `" V) N" Z) T) c& l& l$ U" E+ T
無可能淨係有人蝕錢無人賺架嘛...) a/ {- P- q1 U: j% V# b% T8 h
: \# G; E" T$ G+ H  @5 z
敬請各師兄解答
9 j/ y7 P: f( H  n1 ?7 u5 b% |: ~& b& s
Thanks

2 ?! j, Q! U& o1 G9 |
那些根本係 紙上財富  " v$ |& t# ^0 f/ T
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
9 h! N- N9 R& ^6 u, X# Q0 A* S* v3 N* G, e9 z0 Q$ \, P. [* x6 Y
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
: `8 ?6 R( G- X! z2 `1 r4 }. X當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. L6 r+ M. t0 H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& L3 b# ]1 s1 S) q, h% a
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 Z6 x1 N( F% I# o
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: {9 p$ F0 F: V" Y9 U計番回報率就已經係50%,所以可以好好賺" j7 s# v% Y7 w8 b( e3 r
前提係銀行之間要互相信任先可以咁樣借法
* G. w+ O! N6 x/ Z: N同埋個市場既前境要係好先得2 l5 Y4 h9 D& o) t+ `: d
但當經濟一差,公司估值趺了,物價不升反趺1 c. Q3 d: F, |8 B: z6 y' }
例如剛才說10蚊的, 趺到得番9蚊, 2 g% Q- ^8 c3 z/ ?- n+ G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 Q1 x: p  s+ c
所以你就會覺得D錢好似蒸發哂咁0 ?, G  a# Q% x4 A$ d- l) T& U
) ~/ y- E# Q6 T/ B. k
你都可以當標野咁諗, 個樣野多人可以狂升值, : M/ U; S" f* D5 j: B) ]0 F
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,
1 ~% {* Z" z  }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- p; ~8 G+ F$ 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$ F% b& k9 ]( T# f5 S
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- Q- k9 D6 z  v; ]
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 T- L' |  z7 V5 t! P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 p" }" K- O  U5 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
! v5 m& T, ?6 h; W7 ~咁你話d錢蒸發左去邊? ...

1 u0 g. W. W* B, c8 U* E3 ?" z; |% d% Y; ~; T
正係咁樣, B$ k) b& b0 I3 U0 X# d4 o1 e; K& l
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) W# E2 a  E- w% j8 Z
分分鐘佢地唔使還錢
7 G1 }6 v2 ^# c. j6 O6 l3 w! T2 r
4 t, U/ P, N1 P! f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,
( |4 B6 Q' O% U( j- X0 Q3 W連國家都係問人借, 不停發債券, 印鈔票$ |$ [/ F, ]4 S- U; V7 ^1 H: o
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 x" f8 `4 `  j. k: }5 D" F
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.gif8 w! g: H% D2 j7 k
咁而家"爆哂煲"算唔算先至係變番"正常"???

9 X# K% R, w$ ]2 _0 l
% L, A; J  k7 G0 d) Y% i
其實係...9 G' u' o' e" s6 C; g" q
因為以前未生產, 先消費
& S7 I" ?  @$ V' _/ \: Z, }而家就要多生產, 少消費