0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" {" d' N& [  U5 A& q# vWhy bank will sell 借據給第三者???
& Y3 R% X. L1 KI was so confused.....

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' ~1 q( m1 j( o. T講到尾都係賺錢
: [  K9 V0 E+ M5 b- ~# ]1 d- I; Yso銀行可以不斷放款' w0 ~4 O$ V3 d1 P" i/ G
美國的房貸問題散佈到全世界
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mortgage loan
8 k0 _( h5 r/ c4 h& p1 f% O, x>conduit) w% |+ I7 f. }7 U; G. X. J* L5 E
>RMBS(Residential Mortgage Backed Securities)
0 F* G( R# ~/ K9 n& I8 x1 e9 x>arranger
% ]& W/ y  `, `! r& o8 e5 l* ^>CDO(Collateralized Debt Obligation)
! s8 N* E5 _2 t最後去到投資者

Kev

i thought it is the reason of rate of return.+ o, I5 X8 b' v; U) ^" {. _- {( {* h
CDs could have different ratings, AAA -> F,
0 Y1 \6 c2 [- `* ~4 ?$ H8 I( vmore risky ones would have higher premium (interest rate) as a compensation for an investment.0 Q9 a4 c% x& S- S  h/ V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 E( f( P: ]4 K2 c! i
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  y1 s3 L1 \2 q, B1 [& x2 {* z" b5 |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( ~$ @9 k/ Y5 c! u! O/ S3 ]3 ^7 J3 i
similar to bonds, CDs trading in the secondary market have different value at different times,
( ]- }# B! \+ F5 V; y1 d8 t1 Dnormally the value is calculated by adding it's principle and interest.
4 C$ W% p# t1 D0 `eg. the value of the mortgage+the interests to be recieved in the future. # s- e$ E6 y) @0 E- |8 a
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.3 U; ~6 o$ i4 h
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im not quite sure if the multiplier effect does really matter in this case.
1 P( W$ a0 O& E& _0 fin stock market, it's the demand and supply pushing the price up/downwards.# z( t4 j/ D$ Z* q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( T. W0 d6 K( R. ?" ^A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 H7 r& _6 g' ?* ]7 R/ P" 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. ( Q+ ~; I8 D+ S" e9 p) i
but the value of their assets did really drop significantly.
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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.gif3 I/ d1 e$ x6 K& E7 a7 l2 Y2 N3 L
Refer to last example,( f) m$ F0 O; d6 l* \* L
that means bank A have no money because we borrow 10 dollars from bank A . }% {, Q- J4 j: W
Because bank A doesnt have enough cash on hand
; F  ?/ \2 f$ u) M" mtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  G: V  z: Y0 E
A->B->C->D->E
6 C( z/ o" S5 S* t) l) K5 K. Cso does it mean if E failed to pay D,
& K1 g  O  w' T9 v6 T& I: {) Gall 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, 1 Z9 P0 J/ {/ p$ L5 `2 L; i
in this case it doesnt really matter how much money is created,
% K; A5 T8 R$ i- ]9 x0 uit's the problem of the debt itself.
( U2 Q0 W4 n+ A" Athe 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. I7 q: i8 m2 H* R1 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?
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks

0 Y# t. G2 i3 i- Z  C那些根本係 紙上財富  ; I- }3 A  B. T9 d
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: l5 t/ O. B- i8 j2 N6 L6 L- S# Y
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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
& p# F. w6 O1 b) h( m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ H& M8 Y$ e% G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* M5 F1 A: h- l; D9 }7 T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 w, H. u0 H6 w# L1 T0 N  U2 c% Q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% Y) j) T  i2 G! ~9 y; D) h
計番回報率就已經係50%,所以可以好好賺
8 H# z% i( J' S前提係銀行之間要互相信任先可以咁樣借法) F4 u6 w" M' [6 |$ u& `5 Y8 H
同埋個市場既前境要係好先得
3 D, w! B( n% z: `. Q但當經濟一差,公司估值趺了,物價不升反趺
& o9 o/ d9 L3 O: Q例如剛才說10蚊的, 趺到得番9蚊, ; O( F4 @- D2 B+ p
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 Y- p6 H7 |, G' P
所以你就會覺得D錢好似蒸發哂咁
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1 y% Z8 v/ T6 q; [) l1 }你都可以當標野咁諗, 個樣野多人可以狂升值,
7 ?. g9 R4 ]# @9 q6 ^- I/ S* o8 t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, ! U) I) S3 R3 n+ c# E- s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & p; b3 ^" o7 C! F1 }  S+ E9 @; m
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
9 H& S  ^) [7 I% L" c; L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
& M) ~, ]6 p& A: ^$ q9 u1 t5 y8 \( p唔係d錢蒸發, 而係比美國佬洗晒未來錢, % I( |" {- s/ a  g5 ]( l
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  o# J8 j' b0 c! n" N% 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
. n3 [# R+ `- b2 [咁你話d錢蒸發左去邊? ...

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正係咁樣
+ R# R' f# o+ u9 o4 V7 K1 T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
! H2 S* V. I& k3 U分分鐘佢地唔使還錢
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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,
( M/ g  g* Y$ d9 w& O0 h- a$ b連國家都係問人借, 不停發債券, 印鈔票
3 a' x4 z4 h2 \$ @/ Q$ n一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% e$ b0 |5 L* {3 a) q) g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
" P& A. {3 ?  A% l8 K5 X7 d6 Q咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ Z9 M/ |) g; s* g其實係...3 y/ c! C# m. {0 r
因為以前未生產, 先消費
$ K0 C! v2 {, |2 H/ _- U+ T而家就要多生產, 少消費