0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 T% l! x" z. u# N" ~. H% AWhy bank will sell 借據給第三者???
) d! k( X4 K$ uI was so confused.....

) l0 d5 s/ ]8 L: T
- \/ i* }* ^/ x+ g講到尾都係賺錢
. R4 B3 q! ?& n% Q, {6 eso銀行可以不斷放款( b+ Z; R3 {! x" i
美國的房貸問題散佈到全世界
. ?. ^& L( [* g: `6 ^! P# E( h8 R/ z' _' E/ X  }+ k6 }
mortgage loan $ E6 ]8 |/ C, O# D/ b
>conduit
8 {# A5 S6 F# Y7 v6 S2 L3 i>RMBS(Residential Mortgage Backed Securities)
( Q4 D% ?( b2 R* x/ Q8 }2 ~$ t>arranger
5 K3 m% a' o% n8 Q>CDO(Collateralized Debt Obligation)
% j3 y; T$ V' C最後去到投資者

Kev

i thought it is the reason of rate of return.& `9 h6 M3 a; {
CDs could have different ratings, AAA -> F,
6 U% V  V7 |, d+ tmore risky ones would have higher premium (interest rate) as a compensation for an investment.! `/ C8 _- j: r9 G( f. k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: o0 Q) d* ?, ^  Q* \9 Y$ f  Min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) d& R( ~8 n3 f- g, I+ rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& G- i/ X: u4 z$ ysimilar to bonds, CDs trading in the secondary market have different value at different times,7 [* k  j( s% P: _% s5 a0 V
normally the value is calculated by adding it's principle and interest. ' p9 E5 Y0 a% z
eg. the value of the mortgage+the interests to be recieved in the future.
7 e% N% }. B) H4 h( e$ wbanks 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.
' G9 L" @" }$ o- K; u
5 a9 }  G9 v  Q' z; z  e7 pim not quite sure if the multiplier effect does really matter in this case.8 }6 d, Q/ Z/ p  u. T
in stock market, it's the demand and supply pushing the price up/downwards.
# K9 O$ E1 q3 A. w( {! J! ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 b6 D' H) ]& x1 D5 JA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: a9 E1 @- A2 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. / M, M& t' h) O# S9 m
but the value of their assets did really drop significantly./ F  h7 e* [* ]: q  O& b$ I6 Z

( u  l: \; c: R7 v  X[ 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
6 q) v7 n3 D9 ~$ p! NRefer to last example,
& ]7 v& @$ g. G- U+ k# a; [8 Q. Mthat means bank A have no money because we borrow 10 dollars from bank A
+ }  I( e; i# a+ K$ e+ O5 ?Because bank A doesnt have enough cash on hand 2 A: {, d, z1 @0 r1 ?+ w4 D; x
therefore bank A need to be bankrrupt ??? Am I right ?? ...

; ^* {9 G- Q, s0 o! ?9 p

' Q# {1 r9 ~2 Q1 S& D9 A; S8 b3 N9 B' P* w5 Q
A->B->C->D->E
6 A# r* P* W7 K5 [  iso does it mean if E failed to pay D, . C3 i! |6 ^% z, U
all the B,C,D,E have to go bankrupt?
, J3 k1 a+ I! x2 R3 A; I7 X+ @. f" W4 x( b+ l
' G9 W6 }! U  N, a$ f5 R9 Y, M3 r
the multiplier just tell how much money created in a whole economy, , }( r+ k; D9 O4 W1 S3 }
in this case it doesnt really matter how much money is created, . _$ R2 w# Y9 z8 E' M$ e
it's the problem of the debt itself.( G/ K: M4 H+ @0 ~/ j
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! e$ a1 n; S$ G* }4 I& g
小弟一直都唔明...
: L3 j$ z* e& b) [6 B* _) c
$ g6 A9 Y: Y! U4 y8 Y6 Z全世界都蝕錢，咁邊個賺緊錢呢?
3 X) F6 U* s9 R1 V* g
  @6 e: d( T9 {無可能淨係有人蝕錢無人賺架嘛...
1 \4 o9 X9 w7 l& Z
# a0 ?; d1 O7 j+ K0 c& Y敬請各師兄解答
6 N7 L/ k& G7 o* L! X( u) R
% J% X$ }; b: A/ K% KThanks

7 B- ^5 X! Q% _1 f$ w8 g# [$ l) Q那些根本係 紙上財富  3 M4 S9 I6 Y4 i0 q; y
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
( V" S! s% q; ?7 R; l. w- Y, h7 X# W1 ^$ j  J7 l
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
" \, F6 C& ]; _" D: R4 X( d" `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' U$ B5 B) y$ G& q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
+ v$ g0 T; Z5 {個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ v! q/ r0 E' z/ y- h' b0 w& E扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; }- E# C/ `( n, q. h' s% ^+ Y# X5 `: f計番回報率就已經係50%,所以可以好好賺
7 }' a  ?: D' }- c' @, ^前提係銀行之間要互相信任先可以咁樣借法
9 ^7 Q8 B/ v8 M8 Y% i8 j同埋個市場既前境要係好先得
+ s! f2 g( {: `: C! ?  q9 f但當經濟一差,公司估值趺了,物價不升反趺& f2 A6 N/ S" ^/ |+ n& D
例如剛才說10蚊的, 趺到得番9蚊,
9 s+ c& u! N& x咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 f- Y: A7 x& L2 T7 @
所以你就會覺得D錢好似蒸發哂咁# \2 ^' }8 g/ b  P3 z: e
( X0 N$ g+ y* Y* G/ T7 V
你都可以當標野咁諗, 個樣野多人可以狂升值, . H, k+ O. }* J! s$ {1 V0 j+ e" k
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,
: }/ a: V' R! _5 c  ^5 B/ n  t淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 t; o5 I  b7 \; _; w/ N3 a8 y# x1 q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& ?+ R/ Y1 r4 M& K4 F. _4 Z' c
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
0 d4 J  ~& `8 a- w6 d  n- z唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) ~* }7 m( R( D8 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : P  `- C" G* v$ A% H( K2 U
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& E) A- y# [3 i
咁你話d錢蒸發左去邊? ...

- ]( |8 b9 g2 R6 B% p6 Q: X) W! f9 \; F  s0 f2 c) s
正係咁樣9 k7 u7 b% o7 H5 V  S9 H& e
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" \6 }( P9 _& n7 M/ t- Z: k
分分鐘佢地唔使還錢
3 I) G" \4 f' `1 t# K5 x* F: K
6 Y/ r7 C. R; o* f/ s4 x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,1 _- w* H9 g% c4 }4 W* Z
連國家都係問人借, 不停發債券, 印鈔票; |, a8 e/ a, l7 u, X' m1 H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, W0 U! l$ p' M3 G4 |5 b1 d. ^7 n
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
! d2 S; B) I8 i. m: \咁而家"爆哂煲"算唔算先至係變番"正常"???

2 G2 }; E( ~. V) w; ~. M( e3 t
  z* @8 H8 I6 y4 }
其實係...
- E; `2 m3 d( G  g  c因為以前未生產, 先消費
- c: D  ], U+ W$ B而家就要多生產, 少消費