0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: \  F. b9 n4 H+ D
Why bank will sell 借據給第三者???, q5 Z4 M! s$ r2 m; m# `
I was so confused.....

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, o  n/ V0 o5 c7 [講到尾都係賺錢- P! Y6 _* e3 x# q
so銀行可以不斷放款
9 l9 {6 j$ j5 I# a3 @美國的房貸問題散佈到全世界$ ?+ m, p) {( X' H, Z; ], Z5 R* d
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mortgage loan : L6 J# f  k1 a( I! l
>conduit0 d2 R% K0 h8 b4 u  H1 k( j" B
>RMBS(Residential Mortgage Backed Securities), i+ f1 f+ Y) @3 T! g. ?' `2 A
>arranger" a6 G; s! s7 E' p7 c
>CDO(Collateralized Debt Obligation), f2 Z, P! E/ N0 q8 D  J
最後去到投資者

Kev

i thought it is the reason of rate of return., j" X9 T! @( h9 P% i3 |  O
CDs could have different ratings, AAA -> F,$ C5 D0 V! H/ I0 D9 i
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, L$ D: y' n8 Q( O, [2 Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( `' J* Q" X3 Z1 Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( S, y- B, J4 j! Z0 _- {
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 T5 q/ |; z3 M: u" U2 F/ ]. fsimilar to bonds, CDs trading in the secondary market have different value at different times,
+ [, J: M7 D+ Vnormally the value is calculated by adding it's principle and interest. % R; H: O$ K3 e: a5 j% Z0 ~, l$ k
eg. the value of the mortgage+the interests to be recieved in the future.
: y' X! }- f7 h: B" R! _  Z8 Cbanks 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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) z: Q1 M# s) ]9 \9 ?5 s- v$ W) Rim not quite sure if the multiplier effect does really matter in this case.# a" y! r' X3 }2 W1 a
in stock market, it's the demand and supply pushing the price up/downwards.
7 q0 O% P2 \% [! o& }! C9 cFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 G+ E$ B3 ~/ a$ W; m4 jA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( E! f0 ]" r3 x5 @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. 4 z" U% B, }5 x# a+ y9 a, e
but the value of their assets did really drop significantly.
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: z& e& y$ j% a4 a) i3 f" r[ 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
' N- N9 G  X/ J% tRefer to last example,
* B; I* _+ d/ ?that means bank A have no money because we borrow 10 dollars from bank A 1 ~) o: ]( ^' k7 T
Because bank A doesnt have enough cash on hand
/ ]; u' D* e9 ]4 I4 w8 ]0 ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
" _" Z1 c3 e" ?5 H* n  [so does it mean if E failed to pay D, + J' }1 T7 }* z* h  C& d) T# R
all the B,C,D,E have to go bankrupt?% d4 T6 I8 s" D; P' [5 A

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6 j7 E; a+ C3 I( S; @the multiplier just tell how much money created in a whole economy,
/ U8 |9 ^# f9 h$ j1 nin this case it doesnt really matter how much money is created, 8 p4 o& J3 B8 V5 ?- Y9 |. W7 G( i
it's the problem of the debt itself.
: Q, g5 N0 Q; U) A- X, Qthe 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.gif2 C% @" a8 w/ _6 }
小弟一直都唔明...
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6 t# H, A( R9 U6 M/ |) T5 ~2 V8 A全世界都蝕錢，咁邊個賺緊錢呢?  b" t* K) t0 I& U/ I9 p% [5 v

9 X- T0 |0 u. S% B3 J; U無可能淨係有人蝕錢無人賺架嘛..., [) o- `1 M% |+ f

( S8 q& l8 H( h1 u3 n9 W敬請各師兄解答/ \" B( n/ Y, m; X* k+ c

; n6 Y( N4 I9 C8 K' a! hThanks

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那些根本係 紙上財富  # y1 M- U. m0 y9 E$ B6 K/ F
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9 F" u6 ]* S# P1 r
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& @9 v. A8 l! }, P4 I+ E+ E5 p9 m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1 |7 F$ Y8 ]+ j1 s- _2 E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 I; A" Z5 s7 A! n$ L9 D% m( V扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" A" o1 W9 _( F2 H; Y2 u. x計番回報率就已經係50%,所以可以好好賺( t* r( p/ O& @( U) [7 S( E
前提係銀行之間要互相信任先可以咁樣借法
, B( v5 W) Y: ?" G/ m6 K3 }$ t1 i同埋個市場既前境要係好先得
- q$ @6 E4 w. |; ^8 c' o2 N4 \: o' G: i但當經濟一差,公司估值趺了,物價不升反趺- L/ N1 \; R4 B
例如剛才說10蚊的, 趺到得番9蚊,
6 K9 ?$ b" t+ N6 R3 _8 d- M  h: U咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 `( n9 @- S& t. j( {
所以你就會覺得D錢好似蒸發哂咁# ?, T6 J5 B  O/ I

% B* \$ [& `2 t0 g1 l你都可以當標野咁諗, 個樣野多人可以狂升值, . X+ _% n0 E8 M6 U( w, W
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,
& J5 r* c7 t* g' Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 _; E2 ?' v$ |/ g
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0 m, z) x4 u6 w+ s' Q% [  Y+ S% A
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
# L. n, V' a0 d8 y, V. r唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 ^) c$ N8 L" L4 }! W) p9 x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' v* T' o" U# v- H6 r; s
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 C6 G$ N3 d* K% O( Q7 [2 U咁你話d錢蒸發左去邊? ...

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  t% e' |; R/ ~" H' Q- @正係咁樣
5 K8 D$ Y% L0 W3 @( a" V# y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
4 e: `) C  f" `9 N' ~4 \分分鐘佢地唔使還錢
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% h5 o0 g9 V  A) q% e( ~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,; r; l1 B- b  n
連國家都係問人借, 不停發債券, 印鈔票  B9 g* m4 |3 V  x
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 y: _  `! C* Q/ |+ i+ s
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
4 |2 C6 ]; |8 D5 N咁而家"爆哂煲"算唔算先至係變番"正常"???

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! H! b4 ]& n9 y$ b0 {: P5 A% q其實係...9 D( I: s7 }, X
因為以前未生產, 先消費
+ `: k  N. u% m0 i; \) d! H  N1 W而家就要多生產, 少消費