0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 K% x0 d5 `5 x# _+ V& ]2 S' l* X: y" q
Why bank will sell 借據給第三者???
) ?3 v# @% v* g" r: Q  MI was so confused.....

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$ m% ^, ~/ Z* z) }# r5 V3 G  a! |講到尾都係賺錢
) N5 Q" T( f$ Q) s3 C. |so銀行可以不斷放款* W* ~  J) Z  l$ n0 l1 J
美國的房貸問題散佈到全世界
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$ k& _  |+ \0 \  Imortgage loan
' g  q# H/ I9 E  S; W* U>conduit: x( ?, M! Z. l- X: n8 k  r2 _; j% M$ w
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
; S6 w) v9 r+ O7 v# w3 o最後去到投資者

Kev

i thought it is the reason of rate of return.
+ o% j! T* c* J' m- U. S6 yCDs could have different ratings, AAA -> F,  T8 _" s/ D& H5 `' }3 [- A" u
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 F/ u: u( `* C; |7 Fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% L2 ]) I2 [/ ~7 X: L
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 g$ k' \8 W! D/ `" n0 q! @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* Y4 ]. J) p( e, X
similar to bonds, CDs trading in the secondary market have different value at different times,
0 E1 u7 [. Y8 Y9 {% S) pnormally the value is calculated by adding it's principle and interest. " d4 \6 Q" e8 g
eg. the value of the mortgage+the interests to be recieved in the future.
3 ^. k0 O. P% t$ K5 J6 pbanks 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./ H/ E$ t+ |, C0 r1 w$ t' M3 R. C

% w: U, Q1 K) U) A9 tim not quite sure if the multiplier effect does really matter in this case.
) ^& p: L5 N0 k1 ]2 G7 U, Sin stock market, it's the demand and supply pushing the price up/downwards.( A* H4 k/ ?8 C
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) `! o6 X& [7 WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ f' [" F& p% \
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.
# X: W" ?( l: H) {, \3 Ibut the value of their assets did really drop significantly.# y4 {3 I1 |7 I7 y3 I; i* v! `
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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
3 L6 P; r& M. `8 o! w1 vRefer to last example,
1 u9 W1 ?0 ~$ D9 g' Hthat means bank A have no money because we borrow 10 dollars from bank A
; D9 V; a" K7 ]Because bank A doesnt have enough cash on hand
  t4 B. H8 [5 [8 q) }. y# gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
# y* {0 M3 p% K! I7 i8 m. Rso does it mean if E failed to pay D,
, a+ i. r$ F9 J/ y) x  rall 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, 0 z8 s1 u! t7 ?( k, j* q- e8 x
in this case it doesnt really matter how much money is created,
, R! s' f0 u" ~! {9 v- O. X# @it's the problem of the debt itself.
  l( K* r" X4 o! N  t. ?- X: Xthe 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
' r/ Y1 s2 l% v( c5 \: L小弟一直都唔明...' Q' {8 U, j8 z

/ r6 ]% W, {3 `: E; o全世界都蝕錢，咁邊個賺緊錢呢?: y% {3 o, G/ P% |8 k' f  U

1 L3 W& S6 o, g& z' W( X無可能淨係有人蝕錢無人賺架嘛...* a* W% ^5 L5 F

' }, t9 y# F9 Y! X# c敬請各師兄解答* p4 f/ ~6 t2 }  \+ z

8 W7 h5 P- [( gThanks

+ X6 R+ e3 c) z6 \$ b7 e那些根本係 紙上財富  
$ d/ ~9 ]7 b( m/ a; 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
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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
! V- x( d! D, v8 Q1 ]* \當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ G7 ?, r5 V/ c6 W$ u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  T2 A' I+ T: Q% [1 C2 X% M9 D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  g, q' `1 d: T2 p! ]" w- b
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' o, B) m+ W" z( @  C( H; H4 J- s計番回報率就已經係50%,所以可以好好賺
% e" y# ?) C# _' `3 C前提係銀行之間要互相信任先可以咁樣借法
9 K4 N( ~! h, I0 \1 [; \2 J同埋個市場既前境要係好先得
4 _0 N" V8 k( {( d, \但當經濟一差,公司估值趺了,物價不升反趺  B# I9 p* N. ~# N
例如剛才說10蚊的, 趺到得番9蚊,
3 R: G$ \) u, J' m- W& ?咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  _* `) u& @% p( m所以你就會覺得D錢好似蒸發哂咁
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, t2 g  @) _, N5 D你都可以當標野咁諗, 個樣野多人可以狂升值, 7 _+ o2 i; K  s* S! h4 A; N  o, _
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, 1 Y; p1 l1 p" y. U1 N+ u/ N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* _7 ?$ S1 @/ [9 Q8 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& W. Y2 |9 [! o1 F5 z& q. H# Y
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' i4 |: D" p8 L0 b% ]) Q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 F4 J) E9 P$ f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ C) f3 o' W. x. I) b6 s/ X. 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2 Z( o1 L* N. i2 A$ Y2 c
咁你話d錢蒸發左去邊? ...

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正係咁樣
" M; H/ o4 T, R0 z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3 N7 y; [+ ]; ]$ i+ \
分分鐘佢地唔使還錢( q( T& R# K( R1 A

8 Z: J* _6 f* J3 j8 Q9 s% F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,
: R6 i( i+ Z3 Z- m1 t1 S連國家都係問人借, 不停發債券, 印鈔票# Z, X% g& |) X5 E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  Z* B# B3 Q9 ^% 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! S- C+ P& s  Q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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. }2 f0 K1 d2 i' ~+ S: u其實係...
9 l# M8 U; O8 G- s因為以前未生產, 先消費
/ i  |* M+ H' O/ ^4 i' `' c5 B而家就要多生產, 少消費