0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( l$ l9 e& Z9 E2 N; n  n, [3 VWhy bank will sell 借據給第三者???
% x4 C( M4 J" g7 N! CI was so confused.....

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講到尾都係賺錢
" e7 J" ~4 h: g; Q7 ?3 xso銀行可以不斷放款. Y! b5 ~1 \% {& P2 i1 ~
美國的房貸問題散佈到全世界' X3 I) G. \6 W/ {: Y
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mortgage loan
) m* u" K( Z  G8 @+ Y>conduit
# b1 V& ?( E$ n* w* k  ?& I>RMBS(Residential Mortgage Backed Securities)! O  a  C2 }& U- M7 F0 e
>arranger% B/ g8 F' j( N7 b' P9 X& q
>CDO(Collateralized Debt Obligation)7 @# T& w' W7 [% J7 d7 ^6 U' U. y
最後去到投資者

Kev

i thought it is the reason of rate of return.2 \1 S; T  [3 ~8 i
CDs could have different ratings, AAA -> F,
7 R# u  F+ T4 s* \- A+ r- E$ h6 dmore risky ones would have higher premium (interest rate) as a compensation for an investment.+ s) Y; b6 N3 U0 p9 D7 k0 D4 e6 N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 X: S) ]" `( E8 `
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ R" k/ ]: G+ E% K* q' M* G3 Z& xAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: h) {- I8 c0 }/ c. b9 @; S- Asimilar to bonds, CDs trading in the secondary market have different value at different times,
! Y6 N# z3 s9 S8 K7 k- Mnormally the value is calculated by adding it's principle and interest. 3 K/ c* i: |+ o7 t: \5 B) `$ Q/ k
eg. the value of the mortgage+the interests to be recieved in the future.
7 ^7 i# p  ^' I- z& 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.
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# V/ _/ A4 h. M- k5 F/ \# Mim not quite sure if the multiplier effect does really matter in this case.
- i" z2 C9 p9 i+ C" }in stock market, it's the demand and supply pushing the price up/downwards.0 E/ L/ v& F) V6 }  {" ?
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 _6 r+ u( _) f% F; v
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# ]% q) H  z" w# a1 ?( QThe 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. ; |; O2 L& t  X
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
! r6 a6 _. X4 p0 {0 c+ z. QRefer to last example,
( \, z# B4 a# m) u4 R( b5 l& `: y8 Bthat means bank A have no money because we borrow 10 dollars from bank A
/ @+ m6 T4 a( q& t! _* D. n/ zBecause bank A doesnt have enough cash on hand
; o/ V8 _4 ?, y" ]- W4 i$ n3 ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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- x4 n. J3 k6 @A->B->C->D->E% b9 m9 \0 X! `- @7 L5 p
so does it mean if E failed to pay D, ; Z2 @6 J# H$ ^" t1 Z! V) b) g
all the B,C,D,E have to go bankrupt?9 x! R3 N- h6 [

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the multiplier just tell how much money created in a whole economy,
$ M& ?; v0 X7 N5 h+ ^, S1 Lin this case it doesnt really matter how much money is created, % a1 H1 ^% r/ Z3 {/ t1 ^6 l
it's the problem of the debt itself.' r6 ^& y% T+ f4 x, @
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
; B( n' j. {  N* ~) G: a小弟一直都唔明...
! a" o6 ?# L0 X2 u( d9 H2 Q; Z6 T/ D
* V" L( I9 l9 t! `! s. F全世界都蝕錢，咁邊個賺緊錢呢?4 h* X0 r! Z- I1 Q% V

: q9 T  F; S9 D  }. T無可能淨係有人蝕錢無人賺架嘛...) t0 h8 i) u. d; e, y

' w# D6 m- C, V5 @$ e& @* Z敬請各師兄解答3 [, t) l% [  R& C

  `# M: U* i& [: dThanks

/ g% Q  L3 L- I! h9 P! q' [# w% |那些根本係 紙上財富  
" |, F( |' \4 w3 d0 @9 Z) N* l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- N( P9 g( ^. W2 e& r' P
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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
0 C: S7 Q) R9 E7 S8 g" z2 `! K當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' h9 E" U5 Y) H2 Y  s& M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
- S5 l% H. r+ H' k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; f# \& ?3 h; P. B% R+ A扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 g' n9 W+ Y( b8 y! H
計番回報率就已經係50%,所以可以好好賺% c% o2 c2 t6 n) _  n/ y
前提係銀行之間要互相信任先可以咁樣借法
+ {1 J. Y; v& \2 V. _5 G, k5 Y% ?同埋個市場既前境要係好先得- _7 u3 I! o6 M& l( W4 v) j0 }
但當經濟一差,公司估值趺了,物價不升反趺9 K' g# A0 W# J; g% Q
例如剛才說10蚊的, 趺到得番9蚊, 5 j3 W( m$ B# P% S; p" z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ X: Z( N1 A& P0 d; Z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, # R% q0 h9 i4 A/ {
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, ' F* W; i7 Y$ q; r* J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 e. r9 a" ]9 c9 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
! ~5 o; D, \" j. S) G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+ A; w. a+ X" d2 F
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. |7 H) F! E  M, |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 p! Q. a* i- K2 p* `/ o
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
  P# Y' ^0 s" _: B) [咁你話d錢蒸發左去邊? ...

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7 l1 b9 n. V2 L8 V; A+ t; e4 }! F) q正係咁樣* g! P* X6 ]5 D% K  f2 m6 N
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
$ \: S3 r0 S  ?. [# j$ F9 O* P分分鐘佢地唔使還錢( Y2 d+ Z' ~$ `# b, c( N: [( V

$ E+ A+ h7 z& P2 Q$ C3 }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,
# s* {9 e6 I% W( ]% h- u% r連國家都係問人借, 不停發債券, 印鈔票
( F5 H1 ?1 c* Y1 D9 b# D一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) {1 u0 c, d5 Y' k7 D0 B6 J+ |) 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.gif8 ?3 X9 A" z# E2 x0 h
咁而家"爆哂煲"算唔算先至係變番"正常"???

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* G  Q& T8 m0 k5 i9 T) Y  m. c1 L; Z其實係...5 H4 T% w3 W5 M3 E; y/ D" O! u  s
因為以前未生產, 先消費
# R& ^" G5 H* B2 [% b而家就要多生產, 少消費