0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 ~7 n- y& W* `0 L/ O% Z( LWhy bank will sell 借據給第三者???
' C+ O7 y" t' n, L8 M6 |I was so confused.....

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講到尾都係賺錢" G4 `* f4 A) I
so銀行可以不斷放款
% V: C# i0 A* E) Y, h美國的房貸問題散佈到全世界; {4 i' Z+ p8 U& j9 J' j7 a  b
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mortgage loan   i! [( T% Y, z; M& C& z0 e5 Z* r
>conduit( L! d, }, Q7 l+ n+ S5 F
>RMBS(Residential Mortgage Backed Securities)
: f$ d7 m. w0 l8 `>arranger
3 F6 B2 ~9 g2 s0 \; P' b>CDO(Collateralized Debt Obligation)
+ v& h3 [( L! v最後去到投資者

Kev

i thought it is the reason of rate of return.8 y7 W3 a  g6 X+ }* g8 @% S9 x( [
CDs could have different ratings, AAA -> F,' f) _) s1 U$ l" Z0 r6 r
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 q2 d6 q& t8 m7 [" u3 cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 J; l" C  v& B6 P% Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 Y9 N) p) t6 [3 j6 Z. N. L5 J
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: `7 N7 a1 |# P# Ysimilar to bonds, CDs trading in the secondary market have different value at different times,/ x" _5 M" M9 b4 K# S* t$ P
normally the value is calculated by adding it's principle and interest. " w% o1 j4 i) N# l
eg. the value of the mortgage+the interests to be recieved in the future. ) r3 O2 o  [8 R( x( G% [
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.
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im not quite sure if the multiplier effect does really matter in this case.
9 L3 q8 g4 b2 d# pin stock market, it's the demand and supply pushing the price up/downwards.' O% O7 O7 f4 [0 Z: D# p6 C9 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 L0 Y6 o- n; S4 t& [+ D3 ~% A7 A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% G" v9 v9 c" ]' G' A; [: u6 N
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.   ~- a; H, z( X
but the value of their assets did really drop significantly.6 ~' i, r& D- ^% {! A' H
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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" X& n6 c4 q2 \- l0 r4 A
Refer to last example,
8 ~# [! e# }$ _: n9 b2 O5 rthat means bank A have no money because we borrow 10 dollars from bank A
, ]' O& O$ N4 O& Z. R* ?* u( JBecause bank A doesnt have enough cash on hand ! C* C( V' M6 F/ s
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ l; y" D/ q* X5 s3 bA->B->C->D->E+ L, O0 d, S) p$ C$ Z
so does it mean if E failed to pay D, 9 a* \/ X, `$ ?/ N
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, . n& Q* Y  u3 m! _: ?5 x7 V4 w" L4 |
in this case it doesnt really matter how much money is created,
6 K. p, f% F) Q& D0 I- i8 D9 rit's the problem of the debt itself.$ k  ^. h- O! L; n" |- u8 \$ P: \
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.gif7 ]% E0 ]2 t# ^+ c: S8 Z% x
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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) x, z) U8 w' v1 W: a2 @無可能淨係有人蝕錢無人賺架嘛...0 I" S% N1 a! K2 h% J8 [

+ P6 u# @8 C0 E" K  _4 j敬請各師兄解答
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Thanks

3 P+ u$ H* U1 Q那些根本係 紙上財富  
7 x9 @6 {6 k& D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
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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3 e/ H( @' S/ p9 R  o1 U3 z6 I
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- r* n/ P6 Y' F* V) n' B
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" l" t( |% {8 w3 \1 M+ [0 y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! o( C" r( M. |5 o0 y1 F. m1 A扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  u3 ~& L1 @1 P4 g* d+ A計番回報率就已經係50%,所以可以好好賺
- b' m$ e) D1 Y+ |前提係銀行之間要互相信任先可以咁樣借法
! x, p/ z) e- r9 l4 L( [" a同埋個市場既前境要係好先得
9 {3 }8 b: H6 g* t9 z5 j( b8 z. Z# M7 T但當經濟一差,公司估值趺了,物價不升反趺7 {# B4 E  M8 }8 G% @
例如剛才說10蚊的, 趺到得番9蚊, 9 s+ M: A- f1 L* j/ g7 c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, M; h( }7 l& T3 s) c4 [# H所以你就會覺得D錢好似蒸發哂咁8 Q  a% P* \3 j1 s  |

+ I& m9 j+ Q+ Y' H, m你都可以當標野咁諗, 個樣野多人可以狂升值,
* [6 x( ~$ x4 ?' e0 O9 i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,
* K9 j# L3 d( @% |, H7 n! o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! G8 t' s" m  {
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
3 K/ }8 g8 C+ r2 M  {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
; K% f4 A- w5 }4 `唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. C' Z( T8 [- p) j2 s2 L8 ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( r5 U# O' q: `# i* N- h- z- 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
) n2 }  k1 @* L7 K4 T9 K咁你話d錢蒸發左去邊? ...

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正係咁樣
, k& _5 t% F9 e3 m8 V, D4 H; k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
2 }8 Z6 _% E; f1 O分分鐘佢地唔使還錢
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8 s8 c& ?* E+ Q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,
% E6 {' l5 h9 T  _連國家都係問人借, 不停發債券, 印鈔票2 t! v" I& t# ?! j4 M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ |9 _! f& h9 \7 y  X
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, a0 K. }' F! `- ~( A; r) L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 R4 T. i0 R% B) O; l其實係...
) k1 z# {& Y) h% A. {1 A因為以前未生產, 先消費6 c4 d* w1 r( }( b! B6 D" P
而家就要多生產, 少消費