0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* A' _! x- u( T( Z1 \Why bank will sell 借據給第三者???: \4 `; i& m/ q9 U$ N, o# \
I was so confused.....

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, T8 x; f3 v( N' S" w0 v講到尾都係賺錢
1 M; H) D. {/ }' [2 \! ?so銀行可以不斷放款
! ?" M! T8 m' \/ r$ _$ C美國的房貸問題散佈到全世界! U. H) H* B2 M

1 P7 F5 ^9 x4 ^4 M* Wmortgage loan
" z& C/ R( q$ n2 s>conduit% n& o0 d7 V$ M; X0 G5 E
>RMBS(Residential Mortgage Backed Securities)
6 `! f  {' u; R' }( X>arranger% n# n7 C# w/ g4 ~3 N& c. {
>CDO(Collateralized Debt Obligation)
) a0 V. ]) |4 l" o8 }8 r最後去到投資者

Kev

i thought it is the reason of rate of return.6 o) P) ?. l7 r. b6 F
CDs could have different ratings, AAA -> F,
6 ^0 m8 W+ y( n* a0 Kmore risky ones would have higher premium (interest rate) as a compensation for an investment.
$ k9 A: Y: Q; v( E; K) I6 C( @main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) C! m8 t8 ?3 v# u; d6 [* m7 u+ B
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- R9 u/ M; q: s% E2 _6 jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  ^) I2 r! @) ^- A$ vsimilar to bonds, CDs trading in the secondary market have different value at different times,5 i3 R9 M5 s/ l& ~$ [$ a4 |
normally the value is calculated by adding it's principle and interest. 6 u$ b. p7 Y% z! `  a
eg. the value of the mortgage+the interests to be recieved in the future. ; \% K, b8 z8 k
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 V4 ], ~: c( F  P9 |" }

1 i: z8 K! n5 Y3 x; U" |3 J( ~- }im not quite sure if the multiplier effect does really matter in this case.. K% F" j( e; {4 ?
in stock market, it's the demand and supply pushing the price up/downwards.+ c+ [7 _6 e& s1 N5 Z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 G6 A5 Y" |9 V. Q0 ~A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: k- o8 I# a, q) q2 F5 K
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.
/ L/ I2 Y( i4 a1 hbut the value of their assets did really drop significantly./ t3 W+ C) `% E/ R. @) n  _

. S+ {( H- R0 N- g& j[ 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
' i3 s' Z* j9 v7 d& v" `Refer to last example,! k6 D8 I5 f" M# M' [4 [
that means bank A have no money because we borrow 10 dollars from bank A - }: ~# r6 Q, Y6 ]9 J
Because bank A doesnt have enough cash on hand
- R) x4 K$ m" jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ G3 S0 C5 j6 V$ d# @$ O- b' C7 m. Q9 m: }& u5 @% \
A->B->C->D->E
! t# x/ ?8 J7 v% n+ P' B- m3 `/ oso does it mean if E failed to pay D, 0 J2 V8 U  I5 V5 _! J
all the B,C,D,E have to go bankrupt?0 \, {9 A' W/ W, W! E! [- y
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the multiplier just tell how much money created in a whole economy, : `5 j. e+ V$ u& ]1 S
in this case it doesnt really matter how much money is created,
" Q& b) g$ N, y4 J; N6 vit's the problem of the debt itself.
% m9 E: H$ t5 y! ?/ M: [; ~" mthe 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
) p% Y) M; o0 q/ g0 b& Z小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?+ V8 z# U6 v3 M9 d+ Z! {- N

; _. m, J% ]" Z+ H5 S8 Y1 Y無可能淨係有人蝕錢無人賺架嘛...8 i0 Z1 \8 ]5 o1 G4 x
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敬請各師兄解答8 [7 e8 |4 C/ m! c) V1 a

2 p% e( F; ~5 U- Z$ P+ SThanks

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那些根本係 紙上財富  
, `+ s/ m) @$ \' 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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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
5 p8 C2 ?7 P& {' h5 |* g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 M9 o$ P2 L& F/ M, Y) s3 U5 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
  S& j4 U: P' T( s/ x個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 @4 ?& T3 s. C- @% W
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 t6 Q2 w: D" S& B* O計番回報率就已經係50%,所以可以好好賺
6 v8 p) D  v: n* @. N9 X前提係銀行之間要互相信任先可以咁樣借法
; H+ K  N4 _, {/ ?( b3 @- X2 k同埋個市場既前境要係好先得
- S: i4 \# z1 I' _9 H+ S但當經濟一差,公司估值趺了,物價不升反趺* |+ }3 `! L' F5 Z
例如剛才說10蚊的, 趺到得番9蚊,
" p8 n1 \0 e2 d' y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; f  }. Q- i1 E, X% W所以你就會覺得D錢好似蒸發哂咁9 V8 ?! u' V! z1 p% F& `: l
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你都可以當標野咁諗, 個樣野多人可以狂升值, . x8 t& t% D: K5 a5 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, & f. _7 O* s( H5 k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 b& a' c' M, A+ 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
( H- \7 r  V6 P6 X; f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
8 S5 h! o7 O# f! f' `  k唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ e. h$ ~2 A2 p9 x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 v* J; X+ }. i5 ?2 c- a) S+ E* V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
: C6 M4 [& ~$ {咁你話d錢蒸發左去邊? ...

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" Z. Z0 Y2 C( q( K正係咁樣* ?$ Y* P' r. n' _8 U) q
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
, G. T" [. Z, l( h1 d分分鐘佢地唔使還錢
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+ u: Y0 U. i! b) |) A2 \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,- ^" D0 D7 ?5 [- c+ T
連國家都係問人借, 不停發債券, 印鈔票9 ?1 o8 `9 m: _+ d3 E' {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ V" j# A- S; k$ d" k' A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.gif5 m' K& P0 H/ S
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...4 i/ r2 P/ X% q- ~2 R6 t
因為以前未生產, 先消費$ |8 g! Z* w1 n! }2 n
而家就要多生產, 少消費