0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
+ M+ a  E7 t8 K( Z* _; W+ lWhy bank will sell 借據給第三者???) V+ @; ?& N. n. r; E; _. N% o( c
I was so confused.....

7 \4 l2 X+ z) \2 j9 U5 N

! E1 r4 l4 J6 z* a/ Z1 X講到尾都係賺錢
4 W% u+ B% R1 s# G, t  T: Fso銀行可以不斷放款
  \7 B7 {$ |' d% S. `% w美國的房貸問題散佈到全世界4 g" F$ E$ L& f: N! V

. s, R2 u! g. }* e) k) F% Emortgage loan . ?; W5 n6 O+ \$ ?
>conduit  ^, t* E. m! a# v. n7 s4 h: [
>RMBS(Residential Mortgage Backed Securities), C" v; o) \# z) l
>arranger- }! T8 n& e, B$ O" v  w, I
>CDO(Collateralized Debt Obligation)6 A& i" m" C: K8 e; Z
最後去到投資者

Kev

i thought it is the reason of rate of return.& h6 {5 U- k& \8 N
CDs could have different ratings, AAA -> F,
$ J. I* q2 i2 x: K* K6 Z" ~) \( kmore risky ones would have higher premium (interest rate) as a compensation for an investment.& T) g6 h/ {: W1 O5 a
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ X6 q" S  \: \6 C4 w2 P# j/ s9 }* yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. ~7 X$ Z+ Z  n0 |6 |7 C! Z! DAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. b" K; O" E$ D' L4 z
similar to bonds, CDs trading in the secondary market have different value at different times," g4 m# K* U8 e$ n$ P4 C
normally the value is calculated by adding it's principle and interest. # ^0 |2 |: ^5 R1 I7 q
eg. the value of the mortgage+the interests to be recieved in the future. 8 _) }- m$ R. i8 u5 O) O7 n
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.9 b) r1 F# L5 q8 Q. c2 E2 b" y1 w
1 _8 p6 N7 C( Q8 ]
im not quite sure if the multiplier effect does really matter in this case.8 K( S0 a+ D, M
in stock market, it's the demand and supply pushing the price up/downwards.
4 b* f* h$ Z) U% j6 CFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ Y% ]- B' I0 o1 lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' v8 I. \+ v. ]1 q5 e: O
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.
3 e# x7 b% d* Q, P! ]4 T9 mbut the value of their assets did really drop significantly.- H* o% A0 d/ j& [7 O8 i3 y* V. e4 c) ^" U7 q

6 ?' w* t4 o8 P1 L0 K[ 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
# m6 @0 t5 J* W& _0 ?Refer to last example,
+ I. D# R  ~6 ~% r( Othat means bank A have no money because we borrow 10 dollars from bank A 9 ?  a# |$ D- v+ H
Because bank A doesnt have enough cash on hand - ^! @3 j* u+ |
therefore bank A need to be bankrrupt ??? Am I right ?? ...

. k9 l: M, @# Y) X) q5 S
) Y: l* x4 A. |; z( v6 [
, w! v# Y) ?+ O* a" Z
A->B->C->D->E( `, e/ b1 r5 z  R2 l: o9 d
so does it mean if E failed to pay D,
. m& k' {0 I5 Q' ?* Y; _) ?1 _all the B,C,D,E have to go bankrupt?
- J: _: ?; q+ J( g; j! G
0 `& q" Y' B$ j/ ?$ U& J2 C4 O
, Y6 @: D6 p8 T) _/ i/ |/ `+ D4 f4 bthe multiplier just tell how much money created in a whole economy, 7 Q$ C% Z4 j& [2 l( i
in this case it doesnt really matter how much money is created,
, `$ m, g, h* N+ n4 W+ w* D4 P7 r% vit's the problem of the debt itself.
. `, N' x5 I: b: k" ?& a, j' j7 sthe 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.gif9 c7 U$ O/ _, S3 ]+ H
小弟一直都唔明...
. L5 ], Q1 t5 B, N3 m
/ @! ^: k, _6 p4 s7 ]全世界都蝕錢，咁邊個賺緊錢呢?4 s4 ?$ g5 d# X( `

6 X6 A- P7 a  b無可能淨係有人蝕錢無人賺架嘛.../ J* O; k  h3 V8 y% g
$ x3 W) E8 c7 q4 Z
敬請各師兄解答
$ U3 E( r1 u: t# {9 r. s: B& B( n! x
Thanks

: O4 m+ e! g% H* N/ Y3 k那些根本係 紙上財富  
$ z1 Y# x: }& h; ]( |5 c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
, M( U5 b* U1 l7 Y7 e0 e
: R' B( ^8 y0 w: R) r, vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產* m7 G/ P9 G0 i" J" c1 S( I5 g
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 ^  w; g3 _9 R$ A5 M$ R
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
  \* |) t3 |; t+ H2 j8 k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( x. y) G: Q- x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 n  x7 h/ G; k+ I$ C計番回報率就已經係50%,所以可以好好賺: g4 G' c# V0 h- \
前提係銀行之間要互相信任先可以咁樣借法; c- J' h% s! O/ Q+ _' h
同埋個市場既前境要係好先得
6 }2 M5 G: {" h+ D9 f但當經濟一差,公司估值趺了,物價不升反趺
/ i( l+ w* g6 g2 L7 K$ N( H例如剛才說10蚊的, 趺到得番9蚊,
3 q7 v0 D1 l" k* c$ S, p咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# @' W, F4 X! M; J; f: V8 X0 k; q& H6 f所以你就會覺得D錢好似蒸發哂咁
0 Z5 y, s$ E% [0 t
) ]/ L1 ?: \$ A+ D你都可以當標野咁諗, 個樣野多人可以狂升值,
( {: N% x9 B5 b# V1 Y8 d" |& W+ i6 H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, & k, R6 l; u4 s$ Y  ~0 }! e2 b) B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! N" r: g' O& D: P; i7 _6 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  E8 }- V# x) i
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
! M/ \: n( z) {. A. ^唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 t  k: h& ~; c5 e1 T% d" ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 q" K3 a* Z& P3 A1 t) Q/ }0 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
. L" k! |- M, _! W咁你話d錢蒸發左去邊? ...

) M+ H  C% o1 q0 r
- }5 A/ o  c$ v8 g4 F& M' c& G
正係咁樣
$ }, J2 y0 N' }* Y9 ]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
3 X' O1 [: f5 Y; h7 V分分鐘佢地唔使還錢
+ X% o# ]8 S  u+ }- n0 {2 b
" R2 I& B& {* G! U. r0 ^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,: r. C+ f6 X6 }7 a6 ^; y
連國家都係問人借, 不停發債券, 印鈔票; L7 L( K; m2 a2 Y/ k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 p. D8 F' \, S7 |) X8 v" |: O! Y
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
! ^0 A; k. y0 h5 ^" g3 O7 G0 |. T咁而家"爆哂煲"算唔算先至係變番"正常"???

! [9 `5 |6 v) K, ]5 f7 _- N2 Q9 j9 J  w, l9 o
其實係...
8 m6 A; o* ~  O1 d7 @) U# X+ l% N因為以前未生產, 先消費- q( c0 d% n0 H- u5 }1 K
而家就要多生產, 少消費