0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ B: ?1 \0 {. K5 i: O4 d2 XWhy bank will sell 借據給第三者???
. O7 J4 |$ x+ UI was so confused.....

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) @( A; ~8 @' \1 S# m講到尾都係賺錢
2 ?5 ]3 h2 w) Y4 R* X! iso銀行可以不斷放款
& G# Z3 l$ z1 A+ V美國的房貸問題散佈到全世界
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+ a- p5 \" u: m3 T% X/ L1 Imortgage loan - T# r) q! M% r; u
>conduit
+ U) s8 H4 Z/ }$ E6 Z& d! J8 ?1 L>RMBS(Residential Mortgage Backed Securities)+ b9 @' O- m# K- z- v/ @
>arranger
3 h6 A" U1 u) y>CDO(Collateralized Debt Obligation)0 d* `- Y$ b& K, L: B- m
最後去到投資者

Kev

i thought it is the reason of rate of return.5 w3 R$ j" B1 }  Q/ q' F
CDs could have different ratings, AAA -> F,+ s: _; ?' {  y  `& p! o/ |
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 X( E4 }! k: y+ w; K; y3 Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- w4 j; M9 y$ h! Q6 B  x! X
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ s; O" [8 G5 q+ u9 _  `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ z4 ]3 t  K% x, T+ \
similar to bonds, CDs trading in the secondary market have different value at different times,9 n/ f" M0 z; r6 m+ }3 ?
normally the value is calculated by adding it's principle and interest. 0 v, k; S$ M4 Q* O/ W
eg. the value of the mortgage+the interests to be recieved in the future. 8 A$ V2 Q0 e8 L; I: ^) X8 M4 I
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./ h4 t- w5 a! f8 w
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im not quite sure if the multiplier effect does really matter in this case.
, r* {& M' V! }7 hin stock market, it's the demand and supply pushing the price up/downwards.
. Q6 z: i( |* ?6 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' v- {3 F& A+ e& _8 yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ S9 R" Z9 W5 a# [
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. 0 ^/ X% s" P- A4 v8 N) b
but the value of their assets did really drop significantly.5 A+ ?. S4 N1 e# b
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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. `, S! A8 a; q& N
Refer to last example,
+ W8 X; i) ?$ J! y" T* t1 y  Mthat means bank A have no money because we borrow 10 dollars from bank A
% ^) M9 t+ A* uBecause bank A doesnt have enough cash on hand % p$ `' @6 d2 B! X2 S
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# E7 M$ \" j0 {; a3 A% U! A+ S; E: h. A8 {3 X, `4 ^2 D5 X( m1 R
A->B->C->D->E
! h; y& Q2 p, j. Y" }so does it mean if E failed to pay D, + |1 I. C9 w, b7 q. V, p' Z
all the B,C,D,E have to go bankrupt?+ Z9 k6 N& C, ?

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! T1 C$ L9 k  L  Y- Wthe multiplier just tell how much money created in a whole economy, * y# D- c9 @) d; }! d
in this case it doesnt really matter how much money is created,
: a  T* |! {; C) fit's the problem of the debt itself.# g" y7 {' E8 C2 k7 ^, H
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% K: R% w+ m小弟一直都唔明...) w& p% R* ]7 g. i( K

, u/ }3 b$ |( W6 D# s% r2 t全世界都蝕錢，咁邊個賺緊錢呢?
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1 ^3 e7 m% X: a無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答' b/ O( n4 w) L0 \5 m
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Thanks

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那些根本係 紙上財富  - R$ c$ E+ a* H) _$ V
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. Z8 L6 W, a" H

( v- ?5 X, P$ Jhttp://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 O( A; x' L9 w1 K% g2 c. m; N: C當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ z3 x8 X1 [  @: Z, N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: n' V& ~, p4 g2 b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' v. j# v, x; j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 Q, T* y' ^: N9 D* U' I+ E
計番回報率就已經係50%,所以可以好好賺3 n- j( F* ]* ~# J
前提係銀行之間要互相信任先可以咁樣借法
% V8 Q9 L7 |# o- O同埋個市場既前境要係好先得
5 I9 H* v- r4 G  {% l' q/ B( o但當經濟一差,公司估值趺了,物價不升反趺
0 e; T; }1 Q; q  p8 e例如剛才說10蚊的, 趺到得番9蚊,
1 ~' O, o, a' J$ O( k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 J9 ^' a2 H3 q# Q
所以你就會覺得D錢好似蒸發哂咁" c+ t& J1 S. y, R% L  r& M- _4 D3 W

4 q1 [6 t$ n# t4 f) l你都可以當標野咁諗, 個樣野多人可以狂升值,
# D. z. v- Y8 ]8 g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,
& L; T$ j0 p6 C- {0 `淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- s  g( H) F5 N+ Q9 {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 T, f7 U; x; P
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
6 M4 I$ y  }: g2 R- n; v2 }7 D唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 m; z  ]7 I: l# U# o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: I! }1 X3 p, ~. [7 c7 B: X) t# Y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
. t1 l  [) S. T& v: t2 |! H2 K& Q咁你話d錢蒸發左去邊? ...

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" O1 V* q3 |+ u正係咁樣, x  Y  d9 W; g) c; a+ p
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% f7 u* a/ U' Y5 P5 n! [
分分鐘佢地唔使還錢6 G9 H! P0 G" C

2 _0 m) x( _7 `2 w. e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,/ U4 u4 Z% R3 D% Q
連國家都係問人借, 不停發債券, 印鈔票- i$ U  j( r" f; s; n* D
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 Y# Y* N* y9 D1 J: q+ m* `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
' `" b7 y5 y( x- a咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ ~7 Z1 [3 }" @8 k2 D- V, K* n" c其實係...
+ r. T7 D. w2 |因為以前未生產, 先消費: G( j& R/ q8 F
而家就要多生產, 少消費