0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; Q- t' E5 }% E5 z. hWhy bank will sell 借據給第三者???! `: K4 l8 D+ ~+ ^' o6 h
I was so confused.....

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講到尾都係賺錢
5 }/ `; h& G' {, J$ W7 ~- \7 Yso銀行可以不斷放款
  l' B4 t5 {8 K3 r( Z! T美國的房貸問題散佈到全世界
$ N! L% c% @: F) @3 h) U9 E! ?
- ]' @" h3 q, h! ~+ r1 k. V" ymortgage loan
: A, j3 u6 Q2 Y" J8 s$ ?( u- Z>conduit
5 u7 |: t- C  |) ?>RMBS(Residential Mortgage Backed Securities)
& X. D# C2 d) j>arranger
: x' C$ a4 V3 Q( i>CDO(Collateralized Debt Obligation)
5 O& H+ ~- m: S5 L+ o最後去到投資者

Kev

i thought it is the reason of rate of return.
& n8 _1 S/ F8 T8 {CDs could have different ratings, AAA -> F,1 r- t7 a. |. L( A
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. T% l, Y: a# F7 _6 lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- ^, j1 U$ _% p- D; ^# ^1 a) gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) g; t) u$ A" J) H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
/ l( T& N. s6 u) C1 `8 ~. fsimilar to bonds, CDs trading in the secondary market have different value at different times,
- v! o* o  O; T8 C" Qnormally the value is calculated by adding it's principle and interest. - c/ C, W! h: u( a4 C  v( |. N
eg. the value of the mortgage+the interests to be recieved in the future.
  _9 [) J- e- z; v" Nbanks 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.
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im not quite sure if the multiplier effect does really matter in this case.
4 |7 k4 ?$ p- A- ^in stock market, it's the demand and supply pushing the price up/downwards.
* }/ L( ^+ L5 H; i3 nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% d! H: H: }- U& M9 m0 d" yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* ?( w6 B+ Z& ^, V) `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. # }* g4 K3 U: C0 Q) A) t
but the value of their assets did really drop significantly." l* B" [* U  o# F& ?8 l

8 a0 i' K( W- q- z/ }$ O[ 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.gif2 O8 K. A' F1 L
Refer to last example,5 E9 E+ W5 B/ Q( [
that means bank A have no money because we borrow 10 dollars from bank A
5 x# ]4 H" d- i0 H8 @* R9 \' RBecause bank A doesnt have enough cash on hand % A, V5 z+ b  Z* i
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, F4 F- @7 N% g2 ^  u
so does it mean if E failed to pay D, " d" k7 E1 a& @  ~5 o. f
all the B,C,D,E have to go bankrupt?
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5 \/ @  s+ z7 X& T% ^- J
6 d& t3 q% L5 Vthe multiplier just tell how much money created in a whole economy,
- ?0 P( h! F2 f& P/ @8 W( min this case it doesnt really matter how much money is created,
9 m  g( [0 I1 Q) \& ^5 Rit's the problem of the debt itself.+ I$ m# j, e* ~& b! D! F
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: S* i5 `) v3 f% ^6 C) [- Z7 T8 a
小弟一直都唔明...2 Q9 I( a1 p! y0 ^, n4 J1 ~& `4 c  B* O

$ U: F3 m" w. w全世界都蝕錢，咁邊個賺緊錢呢?
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2 v2 _7 ^8 W0 c3 Z0 d無可能淨係有人蝕錢無人賺架嘛...) B: j- Y7 W1 G& B) N6 g! K# L+ M
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敬請各師兄解答
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( G4 `( u) t* R/ H/ n/ aThanks

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那些根本係 紙上財富  
, h0 x( o) W* Y4 R3 Z, O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! R; Y9 ]6 E! k5 u, U
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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8 T4 J5 [  X* X) r% K
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" I# \( y$ _% }
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
7 [8 o$ i8 z6 B* F+ {個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. Y8 H; |5 z5 `; n& w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- j: }+ I' b3 t/ |7 d% O
計番回報率就已經係50%,所以可以好好賺1 m# g( g* a6 c! [( M
前提係銀行之間要互相信任先可以咁樣借法) K' X; _. p: Y  m2 U  Y
同埋個市場既前境要係好先得5 i5 Z8 p) D# C/ [/ n8 G
但當經濟一差,公司估值趺了,物價不升反趺+ `" e" c* M8 a! Q) n
例如剛才說10蚊的, 趺到得番9蚊, ! [, W, d* w' @9 v
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 |* {/ |- q$ c所以你就會覺得D錢好似蒸發哂咁
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$ [' X" i- D4 O, `( M; [% G你都可以當標野咁諗, 個樣野多人可以狂升值, . o/ A1 {- o" m3 a7 Z8 {
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, " n2 X, E- c  x3 q, y5 ?
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : F3 J. B& y0 j3 d, w
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2 ~8 [# b; r$ d% a7 x4 @7 v* 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$ Q5 ?  Z4 e/ ^1 y$ Y+ k9 K
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- ~; }5 Z) ]2 a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- ^  p$ y8 D7 ?' N/ A- J+ 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
6 J$ |) a) @1 p) c5 R. ^: t咁你話d錢蒸發左去邊? ...

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正係咁樣
; |5 r! I% ~6 O7 K/ M- a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
# M  K: @- z1 a. L0 C分分鐘佢地唔使還錢3 `! w6 E; t6 q! q& ]$ O: m
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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,
8 Z, L# [3 K0 _- _; M1 y9 B* H連國家都係問人借, 不停發債券, 印鈔票  A1 T% D5 s+ N  N
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' b, C0 g, ]4 _2 V+ P* J
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
2 a! z9 {: r" ~! T# L  y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
$ T6 s8 A/ x  r- w$ m+ U0 v因為以前未生產, 先消費7 H: X: _! ?: p' E7 Q
而家就要多生產, 少消費