0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- O1 A2 P# L$ ]- [* kWhy bank will sell 借據給第三者???
9 w" r3 G" F' }6 N, F) HI was so confused.....

, K6 q! b! b+ P3 [& d$ f( n" u
+ W9 A. T% b8 P$ w' z講到尾都係賺錢
; t" l6 r% d0 j# Rso銀行可以不斷放款
) E0 f+ C7 N4 t- K7 y0 b美國的房貸問題散佈到全世界/ `" K. o7 i( l! r  Y" h

) g  s* R6 x# f0 r, M  k" q: `* Pmortgage loan
$ ^6 f, [+ R0 b0 |3 N+ c# j>conduit
- M) I* F+ d9 m# O>RMBS(Residential Mortgage Backed Securities)
. P# O. A7 v! c' G>arranger
. A+ X- O  F5 e: V/ t  @>CDO(Collateralized Debt Obligation)
; R; S5 L& R' q6 T5 y( `* g7 |最後去到投資者

Kev

i thought it is the reason of rate of return.# H: q6 e3 k$ P9 L5 P5 p# z
CDs could have different ratings, AAA -> F,
( h) C3 g# `0 |3 b1 T. X. m' wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
: J/ |0 ?9 O/ {% V1 pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 T# h0 \. U$ }1 ?* h2 I" u3 E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% V+ f6 E) F1 C0 r$ p2 e( r
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 |" w: g0 p) g. t# `0 ]. c
similar to bonds, CDs trading in the secondary market have different value at different times,8 n( ?/ K# C" ]% I$ t
normally the value is calculated by adding it's principle and interest.
  e8 N! K( f7 c- keg. the value of the mortgage+the interests to be recieved in the future.
9 x9 _8 t6 ^( Y. z4 @" G& u' Rbanks 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.9 M+ `& r4 W0 \+ e+ b; R
$ E( b0 V5 K3 W6 d" ^% \
im not quite sure if the multiplier effect does really matter in this case.
$ T& O* M* x' R. pin stock market, it's the demand and supply pushing the price up/downwards.
+ j% u/ i. U4 I. o7 ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' V3 @( x, i7 ^2 y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% L$ C! d9 K- \  m
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. , A2 y5 O% e( Z# p" H, p
but the value of their assets did really drop significantly.7 ~0 \9 R! d9 E. N3 a
5 Y9 I/ A; f7 |& @& D
[ 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
1 B) ~9 b% X8 r( iRefer to last example,
9 m9 o, |% H* T& |0 n4 Sthat means bank A have no money because we borrow 10 dollars from bank A ; v0 M" W6 V" m, k1 r, p- B0 L9 a; H+ G
Because bank A doesnt have enough cash on hand
# ]2 A0 I: J; o# Z; Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

+ v$ D8 U2 ~. o- d4 M8 g( w

% w/ Y/ E, @/ O- V0 `
% p3 \/ t# T- V! u9 ?A->B->C->D->E
' M2 R, r6 U3 B$ T# zso does it mean if E failed to pay D,
2 z: e9 K( K4 a$ K, @& Z$ rall the B,C,D,E have to go bankrupt?: t/ f; g7 q5 @" t4 |; Z

  b3 b0 r0 N, ^% ]+ G! r$ F
0 O. {2 v3 W1 U- a& ^the multiplier just tell how much money created in a whole economy,
& Y, q6 X1 l% o4 @5 R  e/ hin this case it doesnt really matter how much money is created,
5 \2 w2 M: }, Dit's the problem of the debt itself.
8 [! n6 W" l0 R. Y1 fthe 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.gif3 r. b" S. ?# C' v$ c
小弟一直都唔明...3 P2 A$ R" c( Y- A1 ?: Z! k! a
: U& ~+ i" R% t' Y& @3 Y
全世界都蝕錢，咁邊個賺緊錢呢?& n/ I1 z5 [4 `: p4 j

$ w0 H$ @/ t- i/ P& Q3 S無可能淨係有人蝕錢無人賺架嘛...
/ \  V; a2 a$ {1 z# U+ B7 ~! I
- e0 j, J7 v5 C2 I敬請各師兄解答
1 r( I" M9 X& k0 q) d, x1 R3 M. E0 ?( K+ p' e( X
Thanks

8 q0 l/ {- n( y! l/ A, w那些根本係 紙上財富  
# _; a& |$ I, }% h& K& ^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
2 U  \: u+ P  C% c: n8 y' b' [4 ]9 u& ~0 m$ M
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
9 i4 q% d  m" b3 `! l1 t當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 v5 H1 E; d, p2 g! r+ z: }
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
5 e0 X, w6 @: A) r) i2 L個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 W3 b1 m: O7 n8 E# }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# @( T/ c  T/ m  E+ n5 }計番回報率就已經係50%,所以可以好好賺$ P" t0 B# i# h3 W
前提係銀行之間要互相信任先可以咁樣借法
# W. R( S; v/ E同埋個市場既前境要係好先得
/ t+ P$ \6 T# {8 }但當經濟一差,公司估值趺了,物價不升反趺
# ]0 O  b3 v+ i8 e  t/ k3 D例如剛才說10蚊的, 趺到得番9蚊,
' c7 ?/ l1 ]) N) i$ o4 r" w咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 y6 x8 s$ n3 _& @/ t所以你就會覺得D錢好似蒸發哂咁9 f+ J$ t* O( _/ |! ^
/ B0 j; M  T+ f6 l
你都可以當標野咁諗, 個樣野多人可以狂升值, # X  a' H! Q( U/ l
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, ) t6 ]9 z: A# D$ P- _, {( ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" x  j. Z% p8 ~& O8 {8 \$ 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
9 ^; O5 f! r3 G5 x3 x) b' 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: }+ N7 }* ^+ Y2 E! {# y4 \% y4 b
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 X  X6 e# {7 i7 Q, q. X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 V3 J# h9 H% h
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! h7 Z( {1 l( p! E
咁你話d錢蒸發左去邊? ...

8 O) k% K: l) ^) z: e+ [% Y

5 x% |6 e. Y, Q" G: E1 f" T1 Y正係咁樣9 o3 J: c9 M0 M
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 O2 I8 v- f1 p4 j6 v
分分鐘佢地唔使還錢
' L( _' h8 b+ h( t& C' [
; U" g1 _! `# C' h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,/ r# k: M* ]) T7 z
連國家都係問人借, 不停發債券, 印鈔票/ }2 |" E$ x$ b. G& y
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 K. S7 P" _. l8 H
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+ x& z, o) }8 s+ k! ?& ~
咁而家"爆哂煲"算唔算先至係變番"正常"???

" v. I/ X, X# @1 w+ U" m
9 o2 B. S& q4 l( f2 U8 G- Z其實係...4 }0 h- e- x' Y& q2 O
因為以前未生產, 先消費
5 y2 G5 a, O. M) a: p+ m, y而家就要多生產, 少消費