0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* }* T! l" w* r2 ?( x8 H0 S/ e4 NWhy bank will sell 借據給第三者???
, k' ?" N3 o- d7 E% u' ^8 dI was so confused.....

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( u. M6 T" T3 f7 n% g講到尾都係賺錢% s, B# d2 Q! z3 P( q
so銀行可以不斷放款
* `. h: V* J; A+ r美國的房貸問題散佈到全世界# Y# ?1 F7 s+ R4 N. [" r8 |- k8 Y

1 |: W6 E* q- V4 }. Z! I. wmortgage loan ; Z+ D- _! s' S* ]! |# i$ d
>conduit
, h* N3 e" N9 H" I5 _>RMBS(Residential Mortgage Backed Securities)
* N* j& p7 o& C/ B# X$ {, z>arranger
6 |; p+ o! ]2 [* g$ [: {>CDO(Collateralized Debt Obligation)
$ e. j$ t& I) a, t. J8 H: z最後去到投資者

Kev

i thought it is the reason of rate of return.# g2 ~) T( L$ i0 P5 l5 Q% l& B( [
CDs could have different ratings, AAA -> F,* J. L$ ~3 r1 K  q
more risky ones would have higher premium (interest rate) as a compensation for an investment.; E% B+ Y3 ?2 d1 q+ M! ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ |1 U3 _$ y. b& w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# }( Q1 x# @' t1 {" `# `3 B: P8 mAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' b- O  |/ E$ O" `1 Tsimilar to bonds, CDs trading in the secondary market have different value at different times,
9 Z$ ^+ t8 A. Z8 A: y+ _. onormally the value is calculated by adding it's principle and interest.
3 Y% T# |/ w+ P. i  oeg. the value of the mortgage+the interests to be recieved in the future.
7 y. F9 C2 ?3 D0 p" z8 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.
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/ B$ R  |; o! _  A! _/ m$ aim not quite sure if the multiplier effect does really matter in this case.
; t7 E* T* ?6 m& d% Pin stock market, it's the demand and supply pushing the price up/downwards.5 I1 w) O" v: Q. c8 T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: N7 S6 q) h0 s' J$ B7 b( @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
  N  F3 Z6 t7 W$ D+ D/ W  SThe 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.
# V! d7 S& s9 \% m2 c. R% K1 U" Dbut the value of their assets did really drop significantly.' V9 I) {# q) }0 e$ D0 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* C  n7 S7 c+ F
Refer to last example,$ d& p* m( r9 g/ C9 E5 F
that means bank A have no money because we borrow 10 dollars from bank A
0 M' V# c3 q$ W7 k! g$ xBecause bank A doesnt have enough cash on hand 5 S, |8 r9 B2 E: z# i$ @, F
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 _! {( ]2 u+ t7 ~* r/ t( b- ~A->B->C->D->E1 }+ S# [3 F6 G: \* C  s7 _8 C
so does it mean if E failed to pay D, & B  \+ V9 s6 ~5 W" n* V5 ?, C
all the B,C,D,E have to go bankrupt?3 p  e. G  D2 U4 Y4 H& E7 n

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the multiplier just tell how much money created in a whole economy, ) _; ]: B3 Z3 W" M
in this case it doesnt really matter how much money is created,
, B$ L' P, h8 n8 Kit's the problem of the debt itself.1 y% _4 s( ?/ k9 L: U
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
$ Y: s. T+ E& }4 t5 ^小弟一直都唔明...0 j! J: a7 I) y' P
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全世界都蝕錢，咁邊個賺緊錢呢?
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8 ^( V3 ]8 t  B6 c0 M無可能淨係有人蝕錢無人賺架嘛...& P0 J  T: j  \0 {) ?
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敬請各師兄解答
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! B& G) \$ L: U, ]/ f; sThanks

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那些根本係 紙上財富  
' y# G1 R) c7 h# b) Y& ?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' }8 [9 H6 f1 a7 R0 W0 @- M  t

6 I/ f) W3 Y! P1 phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ O: h, u4 {" r) {
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. V* j/ @* p" R/ c% {' e
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* P; ^# W0 f+ x# a3 ^7 p% y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 G8 k0 [! Z( ^扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( T7 Y# E& m* i9 @
計番回報率就已經係50%,所以可以好好賺
' }7 b* o0 H( |/ I" H# c前提係銀行之間要互相信任先可以咁樣借法# Q3 g: F( ?7 u/ B+ |
同埋個市場既前境要係好先得
/ N: L- C% M1 ?0 G3 R: }" D但當經濟一差,公司估值趺了,物價不升反趺/ |. t6 x2 k, s7 v' t$ q8 c+ M, P
例如剛才說10蚊的, 趺到得番9蚊, ' E( I+ l) I: [) w8 ^; c+ I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( j( H- Q" E& u, g, h' D. C
所以你就會覺得D錢好似蒸發哂咁6 @7 q" b3 }! F

& m( t+ }/ ^" b' l% f2 G2 R你都可以當標野咁諗, 個樣野多人可以狂升值,
& L8 {! J* m$ p2 b* R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, + \+ c3 ?1 `- y$ z% |7 p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& m: n. L! `$ x7 X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
  o3 z, e! W/ ]6 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* K% c7 s3 Z4 U$ V8 H, V
唔係d錢蒸發, 而係比美國佬洗晒未來錢, & }, p' T# o( g6 t8 W& v9 `* U! h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 R% ]' S% v$ w1 ?0 e, ^) r
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
5 w1 E9 H$ ?( o5 Q- u4 Z' Z0 o3 E. |咁你話d錢蒸發左去邊? ...

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正係咁樣) q/ E) S$ p, s* d: T% U# }$ h% e
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" t$ t2 U; ~5 ?
分分鐘佢地唔使還錢
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0 }3 o4 q- n+ p9 k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,
3 w0 D& R& `' Z: y/ k7 ]+ q連國家都係問人借, 不停發債券, 印鈔票
8 N( |9 @! L  U2 {) A# b$ h一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" U2 r* b6 e1 P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( U" }$ l7 A5 p( x
咁而家"爆哂煲"算唔算先至係變番"正常"???

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) ~* \' m' b* b4 s9 W, G' t其實係...& b! s! }" a8 e" P/ U" l+ F
因為以前未生產, 先消費' b4 @3 d$ ^4 e# r! r: J' b  W' J& ]
而家就要多生產, 少消費