0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! o8 j, h  \! R* Y( O+ }
Why bank will sell 借據給第三者???
8 S8 d9 e0 T' g$ E. I  r6 @I was so confused.....

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講到尾都係賺錢8 Z7 i: d% ]- g- I3 l
so銀行可以不斷放款
, o( Q( \3 l5 P. D% I+ J$ T# _3 y美國的房貸問題散佈到全世界
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: Q/ r/ n5 _6 b1 l7 T9 K6 pmortgage loan ) z* B- y5 t( k  z9 R6 T: r+ \2 e8 R
>conduit
$ Y7 }  z- m  I$ _& R>RMBS(Residential Mortgage Backed Securities)
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- {# f2 i& K9 k' A>CDO(Collateralized Debt Obligation); e8 R$ `# L$ r5 V% n
最後去到投資者

Kev

i thought it is the reason of rate of return.0 U# d, a; }- u( n" H
CDs could have different ratings, AAA -> F,8 x' m# Q3 I. K; w* O, @* ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.
/ z4 D8 A" R0 u2 Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 C' T% c; P3 T6 Y* ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ x) g/ d; L% a' ?( X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ w$ r& P2 _' x9 G$ M" f) L2 v  ^similar to bonds, CDs trading in the secondary market have different value at different times,0 I. ]( L. x! Z. j  y5 I! X
normally the value is calculated by adding it's principle and interest. . V$ i0 B  _5 g) S9 C! K2 [
eg. the value of the mortgage+the interests to be recieved in the future.
9 C( b) k: L- L* q. H3 Abanks 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.1 ]6 V7 f1 C- M. A& B) V
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im not quite sure if the multiplier effect does really matter in this case.4 M+ Y$ U5 [( I- A% C$ k3 i4 I
in stock market, it's the demand and supply pushing the price up/downwards./ h( [% d3 l9 Y, W4 |8 U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( f! x& C" A$ f. QA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' X/ x- e: q- [. w& T/ ^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.
, z. P: l' p2 h3 kbut 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.gif
) s$ ^% _: k# k% L% bRefer to last example,
! q' N# J0 c# w' b! O0 @  B/ x; Hthat means bank A have no money because we borrow 10 dollars from bank A & L6 S- I' @" {8 [
Because bank A doesnt have enough cash on hand
9 J& A- Q' Z# Q* P" gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E7 |! V: D# X$ C* d& m& T7 j
so does it mean if E failed to pay D, 3 Z) q0 L% H8 \4 M$ j
all the B,C,D,E have to go bankrupt?  Q/ S) L) e- f4 Z' }. S: E; o

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the multiplier just tell how much money created in a whole economy,
2 Q) B# l; r# Z  z; I7 j( j/ ]/ ?; vin this case it doesnt really matter how much money is created,
" M# z( n3 c6 x4 fit's the problem of the debt itself.
9 p2 Q! F1 Y$ `2 a- @6 B/ B( t5 `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
3 m: B! o; ?; L小弟一直都唔明...
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/ k7 j, ?, j) l8 X2 i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.... Q1 `9 D& w; T' u
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敬請各師兄解答8 z/ h$ g; w; W8 c2 t5 o2 L
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Thanks

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那些根本係 紙上財富  
$ X( ?( @5 |; 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 graphic2 ?7 b' {" p+ g& B
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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6 K& I3 l& m+ T9 X) w* F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ X: F/ h; H0 k) X  |3 ~1 k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% o: e; B! Z' X$ ?4 V  }8 C
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  b1 J5 X* [/ h3 y% Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! v5 T, r1 T1 K' f9 M1 Q! m計番回報率就已經係50%,所以可以好好賺
% R& y  K  A/ Y+ O前提係銀行之間要互相信任先可以咁樣借法
! c+ Z% a9 v! x8 D+ u同埋個市場既前境要係好先得
# e) X7 r7 y& l# u  l但當經濟一差,公司估值趺了,物價不升反趺: v: q( y- \) \% t6 _5 h
例如剛才說10蚊的, 趺到得番9蚊,
5 _+ E) o3 r9 u3 @3 H6 P咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 o7 |2 ~# w9 m4 R所以你就會覺得D錢好似蒸發哂咁9 ]. P9 z* `+ E6 y0 e

# \2 L$ Z4 A3 p0 ?0 k% J, o你都可以當標野咁諗, 個樣野多人可以狂升值,
2 ?- r0 h, T+ ]- Z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,
% m5 ?; a* S! s$ s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * i2 F, h8 t3 B* c0 N
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
! C2 I; E1 H  ~& _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.gif4 O- u2 I( `9 `, ]$ n
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 \" R4 C) l- d$ ^! {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - {/ }3 L2 b0 e4 x" 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
+ v8 l/ i& H# h4 w咁你話d錢蒸發左去邊? ...

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正係咁樣) ~* a3 l1 J/ \$ i
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
8 S& l# K" }  P: }* S) [! S分分鐘佢地唔使還錢; O; N3 f! L6 K; S
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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( h3 |8 e/ C  b* ]; ?: K
連國家都係問人借, 不停發債券, 印鈔票4 S8 n* j- [3 ]5 }7 b- Z. e% T
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' T- I: F  A3 l: b# k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' h" V. i# }! N' ~" W5 \
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...2 j( {' x" {# L: h
因為以前未生產, 先消費
' S9 S2 l' D) D: h  ^) T+ w' g3 P而家就要多生產, 少消費