0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. N5 Z0 Z$ n' `% T1 `- TWhy bank will sell 借據給第三者???4 M- H( [3 a. o
I was so confused.....

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- F+ i  B2 q1 j) e# c3 G$ A講到尾都係賺錢, Y. f" T6 B4 E! q: f- K! ~
so銀行可以不斷放款- ]1 Q" w7 v( T9 R6 o/ e
美國的房貸問題散佈到全世界. W7 L# m. G) O9 v! i# @( `* K
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mortgage loan ! _( W( \2 ]* E7 g( H
>conduit1 L& m) Y$ Q' w3 w2 j  n( L
>RMBS(Residential Mortgage Backed Securities)
6 h2 U" E* B2 G8 N( ?( U>arranger8 J! Y' `* u1 V  A" L
>CDO(Collateralized Debt Obligation)
0 o: A' q8 Q7 F9 X- }) D最後去到投資者

Kev

i thought it is the reason of rate of return.
( g( q3 y  k9 |/ D# L4 }( zCDs could have different ratings, AAA -> F,7 s! w! B  k! D
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 J! r& w8 O5 u  S. @- C( V& X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ F2 C- j; C/ l" v& }& I
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# m% h4 ?" S6 z+ y4 X6 G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 K  }$ ]9 P$ k# h( J2 n4 z* Nsimilar to bonds, CDs trading in the secondary market have different value at different times,/ E: u9 e3 ?; \( M5 u! m# I
normally the value is calculated by adding it's principle and interest.   ^4 V& M9 e( b5 ^, m' W" j7 F5 ~
eg. the value of the mortgage+the interests to be recieved in the future.
! t4 v( {5 v2 s: Ibanks 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.$ @( F5 T, D8 {+ S( J  d# a

$ d  a; A1 c( I% O3 D) w* C/ sim not quite sure if the multiplier effect does really matter in this case." B" K: k# x4 {% k4 q
in stock market, it's the demand and supply pushing the price up/downwards.5 w' O8 l8 g+ f9 _
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' ~! a0 Q1 j6 zA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 U! |( H1 t! U4 q2 zThe 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. 9 V+ ?$ L" a: ]
but the value of their assets did really drop significantly.- U* t- o+ \% i
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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.gif3 k$ P+ I* B5 H! j$ k' G1 f
Refer to last example,6 t: T8 A0 p! W5 v) F
that means bank A have no money because we borrow 10 dollars from bank A
1 d9 r2 O" n" Z9 n: mBecause bank A doesnt have enough cash on hand
  D6 }2 b; ^5 otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E1 l0 \4 }* u6 L% s, `
so does it mean if E failed to pay D,
3 v. W; h5 t  T! M% Q2 tall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, $ |! I! Q) d+ G
in this case it doesnt really matter how much money is created, " v) A4 i% |/ r* Z
it's the problem of the debt itself.& t+ {' J- r' z/ Z0 J' [. [5 q
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
. U4 G/ ]6 p/ Z: e$ r7 c小弟一直都唔明.... A8 L) J3 `- k  Z0 a1 S

9 o1 m1 ^- B- s+ t2 o3 u9 E( E全世界都蝕錢，咁邊個賺緊錢呢?3 A6 k1 o+ N* Q$ d
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無可能淨係有人蝕錢無人賺架嘛...( r- }, T! h7 q) f9 ~2 P+ G, P
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敬請各師兄解答
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/ r' N4 S1 `' ?+ BThanks

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那些根本係 紙上財富  & }! V( P$ _# D3 R
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; W' W: @# D$ q  N9 f; ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' l% }( n$ m$ \) a# ]& d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
0 _4 U" g! U( O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; A# T, c* L/ Q1 p( z! N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% z2 r2 {: A. M) t, U計番回報率就已經係50%,所以可以好好賺
, o1 R. k  R5 \/ r* O  O前提係銀行之間要互相信任先可以咁樣借法
* _6 {$ [2 i1 A* k* w; V同埋個市場既前境要係好先得8 w1 Q, j* ]& z' e# a3 i. e$ s
但當經濟一差,公司估值趺了,物價不升反趺, h0 K: N5 C6 e# J. [' j) o6 g
例如剛才說10蚊的, 趺到得番9蚊, ! o3 b5 E" T( r& `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% e* g' i* c3 @7 k5 o  e6 b7 U所以你就會覺得D錢好似蒸發哂咁! D8 B; y! g% B0 |4 b" G

; E9 j2 B# w9 ?3 U4 O你都可以當標野咁諗, 個樣野多人可以狂升值,
( g% r/ ]/ g% U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,
$ g, r7 P  j; ~) i6 I+ F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 n7 {$ K4 M9 [! ?9 V1 S* z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, i- j/ T; E+ X2 d  J& 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
2 ]" V- [; k  L2 H$ y- n- k% S唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" W: {1 R! }/ Z+ j2 Y& h* {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 c9 @6 `# C# O5 M
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" a1 X) R# Y9 o0 n7 {
咁你話d錢蒸發左去邊? ...

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正係咁樣, c  ~: _! E, k4 Y
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
; }8 q/ \: L5 g" g2 D' b分分鐘佢地唔使還錢: J9 r, L: k# b) F# w  I; Y

( j: j/ [4 G! a* H, L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,
7 A' K$ d" p2 b; |. U6 V5 W/ ~連國家都係問人借, 不停發債券, 印鈔票
7 z& f: N: a# w, D8 F7 o& R; w9 B* D一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 e5 Z; T) O3 i& H2 h) N+ a
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
3 ~; C2 a" f1 m) X* c+ S: T咁而家"爆哂煲"算唔算先至係變番"正常"???

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% z! Q2 g; s" O! T0 {2 X  z+ f4 A其實係..." g: Y0 ?* f9 s/ u1 L! Q- \8 Q
因為以前未生產, 先消費
# e+ Z* h; m$ c( }  c而家就要多生產, 少消費