0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ k( p" x* D* O6 a- Y
Why bank will sell 借據給第三者???
+ b/ `/ s2 r4 S- F( t% c, x" y, fI was so confused.....

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講到尾都係賺錢
5 k+ c. `% m) x4 X  m3 h5 j" R7 ?so銀行可以不斷放款0 M/ l# }) c* m5 e
美國的房貸問題散佈到全世界
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! r- c1 h# ]: K' ~" y, }3 O3 F& n3 Pmortgage loan ' `: V2 c& W6 U. T
>conduit; E8 j* c0 ~; n$ s5 x) ?
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)8 x- A5 W& V0 ^* x+ q3 m
最後去到投資者

Kev

i thought it is the reason of rate of return.) [+ n; p* \' }3 j% @( [6 Y: p
CDs could have different ratings, AAA -> F,/ ~# [  @9 W% X( z
more risky ones would have higher premium (interest rate) as a compensation for an investment.6 G' J* z& Y2 o6 [2 K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" _% a' |6 l" D( Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) }6 l$ a: D# p/ H& ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. \$ a( @4 j- g- z) H6 `
similar to bonds, CDs trading in the secondary market have different value at different times,4 H) ~  I2 T4 B& e. K6 ]
normally the value is calculated by adding it's principle and interest.
1 E6 m' ^/ d/ j4 Eeg. the value of the mortgage+the interests to be recieved in the future.
. Q$ S/ e% X+ ^- Q+ b4 mbanks 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.& P' `4 F5 I5 S7 R0 t8 P9 H
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im not quite sure if the multiplier effect does really matter in this case.9 r0 Z, Q+ n+ r2 D& J, U9 T. Y
in stock market, it's the demand and supply pushing the price up/downwards.) O  d8 S4 n* F+ g2 Q8 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 N" C& |2 x' C# P1 q/ g; O/ pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! \% ?* B) y$ S
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. 4 R: S& y+ V5 Z5 R
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( N6 P. U/ a8 |) H! j. l. r  X
Refer to last example,! t1 d6 D1 r, P! a# a9 ]6 C9 b( j
that means bank A have no money because we borrow 10 dollars from bank A ) I& j/ F' F0 X7 [; q  c0 ?3 g
Because bank A doesnt have enough cash on hand 2 w( K5 B( l% m+ v! w1 F# v
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E' w0 A+ B: n9 S' P) h
so does it mean if E failed to pay D, 7 ^+ h8 ~3 O7 _" }1 t1 [
all the B,C,D,E have to go bankrupt?" L8 g/ E$ s) N4 J/ y6 k

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" [6 A( }# U+ r, p! M9 E4 e5 ?" [the multiplier just tell how much money created in a whole economy, 1 S% p$ c8 n, Y+ o# d+ k  r
in this case it doesnt really matter how much money is created, ; _# h! U) _0 @3 \
it's the problem of the debt itself.
& I1 H. V/ Z! y+ P/ T7 x' Cthe 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, M5 f0 N% o/ w9 ?- R. O
小弟一直都唔明...
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! ], u/ `9 x- q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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敬請各師兄解答# ?( z/ ]3 r: a8 Z5 ^3 A

2 m5 j0 m! @6 I$ I5 _: x+ `Thanks

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那些根本係 紙上財富  
# _6 X! a' m' t) M/ 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 graphic: o$ D6 n# B# G+ E+ o+ }
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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
% i% Y7 S0 H4 m. l當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- t/ q+ i0 ?6 t4 ~1 ?$ ?+ H$ z
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
/ a- c0 }% ?+ D$ \8 }$ R個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 L* b# ]2 U. k5 g扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ ]5 \6 Q  r, W0 q+ K8 W計番回報率就已經係50%,所以可以好好賺: ]) z- L# |2 n6 ?9 r
前提係銀行之間要互相信任先可以咁樣借法  r; _2 D6 Z7 [6 Z9 n; {$ |
同埋個市場既前境要係好先得
2 B  L% y2 ^/ b6 k& `但當經濟一差,公司估值趺了,物價不升反趺  D/ a. P& C1 r, K3 f+ L
例如剛才說10蚊的, 趺到得番9蚊, " r6 a( p: c- s* a+ N
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( [7 ~. S9 w* U8 J6 y" {" u
所以你就會覺得D錢好似蒸發哂咁. J& ?- u. l5 G9 ~! Q' a+ k

. D* A/ I+ V5 G0 L2 v* @你都可以當標野咁諗, 個樣野多人可以狂升值,
. S( N9 B5 w% r4 Y- S7 ]# y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, 4 n7 K5 D8 {4 U. T( p) V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 M+ d& R) ]9 q& y7 G4 _, ~
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8 R! V8 \; p" j1 s+ z
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' [% d& a) L3 Q, f! G7 ^
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 J+ O, H. u0 n; l( S+ S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 G9 o) \8 l9 \3 h  k  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
) d4 ?2 r4 e7 Q) ?# t咁你話d錢蒸發左去邊? ...

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正係咁樣
, f2 w4 U+ D) `2 W" o- R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
, R2 O4 c0 _% j0 y8 o2 k分分鐘佢地唔使還錢8 w5 z9 w$ ?  z
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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% `. i' Q7 p. w  ^連國家都係問人借, 不停發債券, 印鈔票
4 X, ^( B% q+ e, O  @( c! q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: [* n4 k' z/ Y8 F& X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
9 x' J; `! ~) v4 ^* w& T3 b咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& \* D! k! W, `* X, A因為以前未生產, 先消費
0 y; g) b8 h2 L4 Y, D9 W6 t而家就要多生產, 少消費