0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' B4 ?3 }/ }- y" g- ?* OWhy bank will sell 借據給第三者???
! c9 w2 t# F! }I was so confused.....

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/ f% x, n3 K# |# e! a- J講到尾都係賺錢
0 [  B/ B) T; R7 k8 Fso銀行可以不斷放款; d2 Y* y' ^: i" r+ ?5 K+ O$ ]2 P5 b& |
美國的房貸問題散佈到全世界
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) A8 C) x/ P) B2 mmortgage loan
( {. u0 e/ h  |- m! f>conduit
! X* Z( v$ f& l* q>RMBS(Residential Mortgage Backed Securities)
) C/ l/ {+ R5 `" m- Q' @>arranger# _+ D/ d, g, C3 u! z
>CDO(Collateralized Debt Obligation)
' u" d4 P7 @+ _; u) k8 {! q* Q! p最後去到投資者

Kev

i thought it is the reason of rate of return.2 L( Q' r0 K9 F% Q: W& X( p
CDs could have different ratings, AAA -> F,9 m" Z2 X6 a7 P) F. J; {( y
more risky ones would have higher premium (interest rate) as a compensation for an investment.$ j/ _! W1 Q. |
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ f( y! H( i7 y) p# [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* c/ {* |2 u+ H3 u7 w! S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 W0 I3 [( v/ T" Xsimilar to bonds, CDs trading in the secondary market have different value at different times,/ \# z) s  a5 t2 P+ I  {, k
normally the value is calculated by adding it's principle and interest.
  h4 Y9 X0 l! o( x; Keg. the value of the mortgage+the interests to be recieved in the future. - b( c* p: j: M( \: 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.5 ^3 L# m! x+ O

1 O% n6 z) U' R% R' xim not quite sure if the multiplier effect does really matter in this case.
0 ], ]! T9 }3 y1 v. s: \in stock market, it's the demand and supply pushing the price up/downwards.& x  H" _1 C  R  x+ e0 J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. R9 d0 w8 J' ]2 S$ U+ T, X( mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# y  ~8 m; W" l: w2 s, R! aThe 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.   k6 j" Q: p* H4 Y' n; u. `
but the value of their assets did really drop significantly.1 a$ X/ c  n( S: T  K
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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  j% _2 b. `) J: B+ [2 ?
Refer to last example,% Z3 r2 m4 V. k5 ^2 Q: L7 K
that means bank A have no money because we borrow 10 dollars from bank A , j: D8 g7 G/ E) c5 b0 O) Q
Because bank A doesnt have enough cash on hand - k* s5 y3 ?2 H
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 Y: R1 {/ ~- h( @A->B->C->D->E* l+ U, f  n0 H- t
so does it mean if E failed to pay D, 8 d8 I) P. O5 n3 B5 P5 q. T5 d! r! j
all the B,C,D,E have to go bankrupt?" Z) C9 P; W/ Z# i" R1 ]
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the multiplier just tell how much money created in a whole economy, / e/ l& b( _; T. s& X
in this case it doesnt really matter how much money is created, ! b( N2 L$ ], U, r3 W
it's the problem of the debt itself.. F! q- p0 s" U5 P4 N
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
, J. Q% N$ ]. X1 j0 i+ \; P小弟一直都唔明...% \' [- B; d$ N/ w8 |: b
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全世界都蝕錢，咁邊個賺緊錢呢?" k/ i5 n4 O7 C: E; o6 A; t

1 d5 y/ c2 n+ m' r1 k) a- r無可能淨係有人蝕錢無人賺架嘛...
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: I8 q7 z& I& G, L  x敬請各師兄解答- r0 a8 u, ?' P4 }+ V$ L5 G% Z% T

7 ~6 ]1 |8 m4 w8 [4 |& _: _Thanks

  M7 e& @2 A8 k0 H0 L  N) D8 r- \那些根本係 紙上財富  
& b% z# Z4 Y& P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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9 O8 U+ a  o1 p' G3 S9 U% hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產7 ^5 M3 r1 G; V1 `& j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# Q5 H2 K) T0 B6 H! h. w) D) 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
) H+ _# U' c1 l9 \  O8 J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; G  Y( V' k) J2 F4 j. s! u  y8 P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 n6 Q! a4 R: e( W3 R1 R% a1 w: o' d
計番回報率就已經係50%,所以可以好好賺
* r7 [" @4 B) |8 {前提係銀行之間要互相信任先可以咁樣借法- \  Y# ~& [$ S6 j! r
同埋個市場既前境要係好先得
/ v$ ~+ M: P3 G但當經濟一差,公司估值趺了,物價不升反趺9 Z( g* K. D, n8 _, y# c3 w
例如剛才說10蚊的, 趺到得番9蚊,
: k. I# O  w- h, r# l% \5 {7 c0 r咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& q' B1 C* d' ^2 o6 D所以你就會覺得D錢好似蒸發哂咁
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) X) j+ g$ {  ^4 D6 _% N% v你都可以當標野咁諗, 個樣野多人可以狂升值, ( W- {* e2 a; o' V
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, * d6 j2 j: A3 q* [& r" m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) A0 x% @: W, i5 [$ _
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+ C7 w' U# w; Y. s7 W
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
: F$ I2 W7 T3 ~. ~唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# X8 L$ ~2 p$ w: h* A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - G3 S% ~" S8 `$ F4 U& n. U# w( d1 J
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
* V! D. ?8 ^8 i* h( t8 [* b咁你話d錢蒸發左去邊? ...

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正係咁樣
  y: w3 u5 Y/ l4 _9 P5 [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
; L% i! h' C; |  Q1 M分分鐘佢地唔使還錢. }3 L! A7 O" Q
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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,
- G& u$ l3 W. ]; j' n連國家都係問人借, 不停發債券, 印鈔票0 L' t" F+ s! `$ [
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 M8 j& M/ ^1 r6 ^. @* q
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' J* V0 Q/ c  J4 c4 b6 \
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
1 t$ ^' ]! w( G* O4 ~" k  t2 p2 R因為以前未生產, 先消費
; u  f, x, Q9 d而家就要多生產, 少消費