0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 U4 }: c' }5 C; |) p
Why bank will sell 借據給第三者???4 w( U2 \8 M/ o; `7 Q
I was so confused.....

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講到尾都係賺錢
; _3 v# V: W# E- N, U9 ]1 xso銀行可以不斷放款! F6 T4 }" ]) i7 }, C  i
美國的房貸問題散佈到全世界
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mortgage loan
3 M$ R7 {; Y' I>conduit
$ j8 Z1 ?3 [$ l; N  q# R>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)- v' K- f$ {* Z- _, _
最後去到投資者

Kev

i thought it is the reason of rate of return.) y) R& V( U* r) O: P: g
CDs could have different ratings, AAA -> F,1 r4 Q) Z# u* G; v
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 Z  I6 ]7 F$ q! J8 T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! K( T1 v0 f& ^9 vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  u6 `6 T7 y  X- Y  F/ lAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& C3 l4 T+ d6 l+ Y: U/ d1 Zsimilar to bonds, CDs trading in the secondary market have different value at different times,
2 \! I) m8 \7 f1 ~* F* Z4 hnormally the value is calculated by adding it's principle and interest.
: b9 J3 d4 w6 R: y4 heg. the value of the mortgage+the interests to be recieved in the future.
8 M5 B) {6 L& W+ obanks 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.6 n& S: d5 @2 z) ?7 R$ k
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im not quite sure if the multiplier effect does really matter in this case.+ r3 S8 g0 R6 W! m/ ?/ w6 o- v; p/ j: e' o
in stock market, it's the demand and supply pushing the price up/downwards.. M2 g# M: I8 H7 f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 r4 C  Q4 E6 w, LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# h, |& i! P3 P  Y7 {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. , f7 a2 l& g- L  Q% I# ]" z1 k! Z* t
but the value of their assets did really drop significantly.
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2 i$ @& R" a6 e5 v4 @7 `$ \' ][ 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.gif6 |/ q) \" g! [: c; t% s  b
Refer to last example,  a4 Q- e% d% M
that means bank A have no money because we borrow 10 dollars from bank A
# _! q2 Q, v7 jBecause bank A doesnt have enough cash on hand
- ]/ H* H& d( j' X! @therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
9 i0 L5 x/ Z7 |- l" \so does it mean if E failed to pay D,   s" H1 e) W4 X6 J; {$ n& p
all the B,C,D,E have to go bankrupt?
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; {$ x! M+ _' K% S: _/ Xthe multiplier just tell how much money created in a whole economy, ; a4 M; Q" ]1 H9 |8 L
in this case it doesnt really matter how much money is created, 5 n3 b' Q5 H& a' A( H) `
it's the problem of the debt itself., L- n# [6 S, }* Z  s
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
/ A. I6 a0 i" Y) z4 w; b0 `小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?3 _5 F2 R! g! S& p5 ^# _: u+ h- }, R1 _

3 F- k: u: z9 ?' T. p% @: B# o% J8 }) x/ h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
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Thanks

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那些根本係 紙上財富  
6 t2 o6 b9 J+ j# |& x* Z' ]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 graphic2 F: K) f: O+ E
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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
+ Q5 B# R6 T3 t" Y, Y: g( A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 ~" J- t1 K1 k; q3 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
9 D. R7 T4 N* Q# j* d個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% S$ u1 R4 [( I  g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," d4 d* L5 j5 m; s& O; `
計番回報率就已經係50%,所以可以好好賺7 `4 v" V; `6 F% F: ~/ N
前提係銀行之間要互相信任先可以咁樣借法
  `; d% K  n" a同埋個市場既前境要係好先得1 U% o( _$ o* r1 D
但當經濟一差,公司估值趺了,物價不升反趺
% r# H: j( q# t* J# j( r例如剛才說10蚊的, 趺到得番9蚊,
; m) R' a6 S$ j: g咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) H! J; ~4 }2 i/ k& t" d/ ?
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
1 ~( m9 D8 J0 t# K- f6 e; ~+ m( c5 c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, : |' `) i+ C' S% E4 V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " f  }/ m; ]' u! d, F% S
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
9 S# C6 b, Q5 Y2 ~5 b( t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) h  S+ j1 S, X) p* k. W
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; x! P0 V* i/ [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( c- G9 M" P' @( N) J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
' ?& Z, ~5 t& F0 N8 j9 a" t4 K) v咁你話d錢蒸發左去邊? ...

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正係咁樣
3 k& ~; f! I5 C( Y2 a- Z: j& |$ T* [3 h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
# i3 F% e: m9 B0 ?3 |分分鐘佢地唔使還錢+ F5 ?6 B; W! {
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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,/ w8 c5 E" v2 P. n0 o& e
連國家都係問人借, 不停發債券, 印鈔票5 \  ?7 g" A( h
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 j1 ~) W2 ~5 W1 ?+ b% Z: ~" z* g' Q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$ E( n8 R6 G  A, W; ]( I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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" X% b9 q1 |3 J  l1 J" n其實係...
( p0 y# Q0 Y  J6 m; j' h因為以前未生產, 先消費, z* g3 d: {, U) Q0 \0 X2 S8 D
而家就要多生產, 少消費