0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, `2 y' K) {0 @" z  m/ n% bWhy bank will sell 借據給第三者???
& H# m: [4 j4 b# X; L" DI was so confused.....

1 A% {# K- U8 H2 T' O; A; [4 E# \1 T/ p; }
講到尾都係賺錢+ k% ~# D/ P# H' |3 h8 Q' s9 c- ~# c
so銀行可以不斷放款
1 H" R" g8 Z- q: O4 p/ G美國的房貸問題散佈到全世界
0 {* d( @. I; C! n) `
6 }: c* S3 o3 V2 r5 J- Hmortgage loan
* s; X$ r% K; v/ M- z3 n2 ^) _* ^>conduit" t) o  G% P. a
>RMBS(Residential Mortgage Backed Securities)
9 H6 q2 _* R- j0 k! i>arranger3 k' e& y: W" I
>CDO(Collateralized Debt Obligation)
! r, B: Y4 [% Z- Q" j2 B' u最後去到投資者

Kev

i thought it is the reason of rate of return.$ F6 t1 ]' e: K
CDs could have different ratings, AAA -> F,: C$ Z/ V4 ?0 R9 z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 C: M- N2 V! c% W0 @& Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 w, m  e# @% j( c" I2 c! r/ G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.! d% L: d: c) ^& L& \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) N1 q  f" {, @$ v* R) |similar to bonds, CDs trading in the secondary market have different value at different times,' d4 z1 q7 ^7 N9 y+ T5 j6 |
normally the value is calculated by adding it's principle and interest. 4 E( t" K# f& p5 y. ?( j
eg. the value of the mortgage+the interests to be recieved in the future. 2 [* k+ ]0 B) c4 L% B+ y* M
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.
, H9 F$ q* p4 p- D
$ v  K0 g" q; G4 {( |# Aim not quite sure if the multiplier effect does really matter in this case.
# ]. A" l  a/ Z4 {in stock market, it's the demand and supply pushing the price up/downwards.' w4 T: X& y2 u
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 I8 k$ b$ j4 N# v' c, q; nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" {5 L$ p/ i7 i3 U0 ~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. 2 R2 S! C  b% {: d/ y' n1 r+ m! E
but the value of their assets did really drop significantly.
1 K% u2 ]. }0 ^6 J2 x- E
$ Y4 F/ j0 ~2 E4 l3 p( ~[ 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.gif0 V  ~0 \4 w7 \0 g
Refer to last example,
. w  x4 a: C! Zthat means bank A have no money because we borrow 10 dollars from bank A
8 l7 g0 T% ^: F& l6 DBecause bank A doesnt have enough cash on hand # i* L! h( O, m/ `0 q2 }
therefore bank A need to be bankrrupt ??? Am I right ?? ...

- B" Q( ]9 O6 M
" Y5 T& }  d; Q7 n" T7 G5 j6 ?+ R/ {, u4 \; D
A->B->C->D->E
( A+ G! S; w% G1 S- |4 F" D4 q3 V1 |so does it mean if E failed to pay D, $ T3 A2 C* W# Q3 ]; Y% J- ]2 h* a; x
all the B,C,D,E have to go bankrupt?/ |8 s& i8 l8 M! S( A! H; `) a

5 W4 P8 D( ~9 M6 ?9 N9 x; w7 I6 Z3 o) K. i6 ~: k2 G
the multiplier just tell how much money created in a whole economy, $ y" ^3 b# q( _- H5 e  \6 E
in this case it doesnt really matter how much money is created, $ z8 H% S" y2 V' _# `- l7 O5 i
it's the problem of the debt itself.* ~) D$ g$ f5 m. t
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
" X, [) f  z# p5 T% e( L+ T小弟一直都唔明...7 u% q" Y5 y2 W, @+ U# g! ^- v
0 K2 @( J  F( p; d- a, p4 l
全世界都蝕錢，咁邊個賺緊錢呢?
( r0 U  _% F& v0 a# A$ \& w+ z- ^" X" O+ L4 u6 l/ O9 v. N1 r
無可能淨係有人蝕錢無人賺架嘛...
" H6 }' U; P' D) g& A( J
# E' q. g" u' T. R3 u. Z# H# p" ^敬請各師兄解答8 J0 x7 D6 B' ], I( _; \7 @
7 ?' f/ ^' Z2 N5 D
Thanks

$ ~2 D9 `; k+ v! b* ^: k$ @0 l那些根本係 紙上財富  
/ ]- n) b) Y/ M% `. I5 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
+ ?8 m0 A- ?# c' w$ n0 J
* \# g/ J3 p/ e7 s- W/ dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
  _) B+ q& V: J當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& ~% q9 R9 P" }# g% Z3 A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) r; l3 v, x4 Z& n: I; K' ]7 K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 f/ e. d* `! n! e3 E4 u
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 d) g6 c* D6 m7 \3 V: S8 l! d. u, u計番回報率就已經係50%,所以可以好好賺
4 Z3 L+ H; j. l9 @前提係銀行之間要互相信任先可以咁樣借法
, M, L9 U  D; y& |# z& o* T同埋個市場既前境要係好先得
* E( ]4 N! k- q但當經濟一差,公司估值趺了,物價不升反趺2 y  [' l+ j  A
例如剛才說10蚊的, 趺到得番9蚊, # @# F5 k, x* J; O/ S
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. I; b0 K& |# e/ H0 f
所以你就會覺得D錢好似蒸發哂咁
; g$ E0 _% T) l( `5 A- P* m- B
* {1 U( ~4 X- M6 b: G6 Q0 R你都可以當標野咁諗, 個樣野多人可以狂升值, " _* S  i. Z9 T4 C9 |# V+ J. Z0 i# 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,
2 m% }3 |7 E4 I2 y0 L# j4 L0 B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 x; m# e) ]. R) `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
0 i: P2 L( @+ R" d8 j( 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.gif8 M. r0 p$ ]/ x) r3 i6 D, v4 p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + ^& c' r5 ?. n# {" G$ a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 x7 e* W, H0 Y9 G6 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1 I6 z% g8 m8 ?% _7 g
咁你話d錢蒸發左去邊? ...

- {* K% v- F" j' g* B9 @$ `" {" g5 j3 J4 k/ T$ c
正係咁樣+ x# k! x7 e  T7 q
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
1 m7 u& S' B& |$ d4 t: q% o分分鐘佢地唔使還錢
# P6 ?, u: g* C' [6 H" [% a4 N) x, p5 n. g( j6 n7 m, J$ ]
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,3 |( B, y+ p$ v. M# X
連國家都係問人借, 不停發債券, 印鈔票
$ u. o; [9 P4 T. u$ M. A一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( X( H- q/ [6 ^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
- N4 Y+ Z$ g( @- ]$ ]咁而家"爆哂煲"算唔算先至係變番"正常"???

( _, q3 G0 }/ D8 _; a0 V- \" {* r1 [! q) G" w
其實係...# H- V+ L& N: [" _8 u
因為以前未生產, 先消費  n6 {7 ~# A( u
而家就要多生產, 少消費