0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  d) k/ `5 h( h4 T# Z: v- W/ Z
Why bank will sell 借據給第三者???
5 G' K: g: b# D/ GI was so confused.....

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/ a7 q; |) C7 d7 b3 J0 ~5 k! a講到尾都係賺錢) t1 D* g! o) s! n' \
so銀行可以不斷放款
6 A' u7 f( Y5 ~/ t7 A* t: Z4 `4 |) L美國的房貸問題散佈到全世界' X- X( x0 J9 L& V

3 m- K+ f% @* W! F' A; ~mortgage loan - T2 s  y  |! U# Z$ \% g! P
>conduit4 t1 P. R2 i* Y4 v/ B
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)4 P; {; `% r  _  d9 t) z4 i
最後去到投資者

Kev

i thought it is the reason of rate of return.
- ]! g' c; }: x8 B/ [, O  Z9 KCDs could have different ratings, AAA -> F,! v- f4 F7 g( {: G/ Q0 z' b
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 H$ k" j/ h8 x' |  b
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 f0 I! k4 `; Q% ]2 kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 ]: I( B8 l& x( oAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 b# _; {. j) H- n
similar to bonds, CDs trading in the secondary market have different value at different times,
% |3 t4 n# U+ d: v( E3 rnormally the value is calculated by adding it's principle and interest.
2 {$ Z7 t$ U* @& [2 Q% Heg. the value of the mortgage+the interests to be recieved in the future. * P% I  u) v4 X: t
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.7 E! \8 o1 Q+ i+ u  f; r* `
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im not quite sure if the multiplier effect does really matter in this case.
) T/ V  d7 X* z- K$ N, i, V" E3 V$ Din stock market, it's the demand and supply pushing the price up/downwards.
2 h& Y* E+ n: |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ ^8 b: M! u0 |1 z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* r0 g* f4 l1 n7 A. t
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.
/ f+ Z7 u! G  Nbut the value of their assets did really drop significantly.
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3 v0 O( f4 }! m9 r2 e[ 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.gif8 F  k2 l" T  [, q2 K
Refer to last example,  s+ B! K  s6 x& u) L
that means bank A have no money because we borrow 10 dollars from bank A $ L7 Q/ d, s- G( E! V' w
Because bank A doesnt have enough cash on hand   `; c, k+ ]; v9 N  I
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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& B; U2 }& O; u4 u# MA->B->C->D->E0 O" p+ J6 `4 |; }1 E/ G. `
so does it mean if E failed to pay D,
% p! _* I2 w/ r: q# }& m$ fall 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,   }' u0 i+ d. [/ Z2 ~4 o
in this case it doesnt really matter how much money is created,
2 c2 i' d, m4 {5 `1 Hit's the problem of the debt itself.
& k) f0 B+ c, G- h. k' zthe 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
6 S) K2 S1 ?( g3 j* Q8 v+ \小弟一直都唔明...
9 G# c$ W3 k, }6 ~1 o3 B" ?! {: x3 Q: P) y# Z& t
全世界都蝕錢，咁邊個賺緊錢呢?
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- @% ]. W8 _2 B4 U8 H; d; L( b$ K無可能淨係有人蝕錢無人賺架嘛...
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  C0 h3 L; q+ M7 w5 f! G敬請各師兄解答4 J) U4 S/ ?  u: ?, U- o
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Thanks

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那些根本係 紙上財富  
8 Y. l$ c( K. U' T; [2 o/ O0 C5 {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
5 J- V2 W& |& J/ V2 }8 P: X* R5 Z
6 h. I  a3 H$ m( c$ y" Q# Q& ?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! p; I$ O( N9 h4 n- @8 ~% h
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 q; J1 o: E4 W# p) e4 k7 Z- e' g( H0 w# }
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0 f6 A; u/ b+ A/ X4 Z2 S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( w: a% }& R) @5 V9 T/ ~
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ {  S$ G* R4 N9 E4 i$ V3 }- q) y2 S計番回報率就已經係50%,所以可以好好賺% y  Q  F1 _6 B6 L; D
前提係銀行之間要互相信任先可以咁樣借法( u4 @; T! `" a1 J6 B; t, |' q9 X
同埋個市場既前境要係好先得# d# w- w% G) }9 M0 n! x0 x
但當經濟一差,公司估值趺了,物價不升反趺
) o$ F9 `+ W' {: h: A例如剛才說10蚊的, 趺到得番9蚊, 1 P! [' {" j! k* H& @+ k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' E% Z. d$ I/ J' H/ k" f/ \+ c! S# O
所以你就會覺得D錢好似蒸發哂咁
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8 P, l0 K9 n0 ?+ f9 f你都可以當標野咁諗, 個樣野多人可以狂升值,
8 X; M2 K, `* 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, ) x/ P# v1 W1 s# f. ^3 Y9 P8 N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 e1 Z) O* N8 q* f" g8 F
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 \& Y1 h& ^5 V. I2 x/ y2 S) d
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
% v3 e: V! J2 B6 N" s" O- ~唔係d錢蒸發, 而係比美國佬洗晒未來錢, # n4 v7 u  R) x" B/ [: s# Z7 g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 V% \' o; ~. v4 t3 T& 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
2 S  o0 S, z7 K3 o咁你話d錢蒸發左去邊? ...

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, ~. J" v2 _/ G0 g+ c# G) T正係咁樣
9 L. w0 B$ e' F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( V, l8 J' ~& F2 r
分分鐘佢地唔使還錢7 O; o0 q, Q& j* Q& m- d$ I9 K

& j- H. K/ u. q( 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,9 W3 p/ ~3 }3 t' j' t- q) d7 ^2 T
連國家都係問人借, 不停發債券, 印鈔票; J4 S5 I! k3 S, H' v0 M1 P, X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 D% x* c4 `% ]" F
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
0 @( R3 N2 H! r: y6 Q/ h咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 g) x! g) Z9 z6 N其實係...
( w7 Q/ E' O6 q5 f" Q9 J* S因為以前未生產, 先消費
( L" U0 T- N2 n! }' Q/ M' K0 O" o0 b" d而家就要多生產, 少消費