0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% i7 L6 o9 ^/ k1 w3 e, n8 C2 r; v
Why bank will sell 借據給第三者???) i$ m2 @  M, A* m
I was so confused.....

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4 M) s9 c/ }( }講到尾都係賺錢
  g: u7 q0 P# D6 \" Cso銀行可以不斷放款; @% ~8 s# b  U1 B0 [
美國的房貸問題散佈到全世界
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/ _8 {$ ~9 B8 V0 Mmortgage loan
! O9 Q) d/ S2 J>conduit
- h3 ]0 ^. y! y2 N>RMBS(Residential Mortgage Backed Securities)
7 A" v) Q' c. ^6 I0 T% J>arranger
; P- M1 v( D6 j) \>CDO(Collateralized Debt Obligation)5 F; f) X( e; D, p6 q! G
最後去到投資者

Kev

i thought it is the reason of rate of return.
; g0 ^* G6 f' YCDs could have different ratings, AAA -> F,
2 v& I9 t! \$ [  |: {more risky ones would have higher premium (interest rate) as a compensation for an investment.5 n0 Q* }- f7 R# D% P0 {4 l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ j& b% K$ X+ q7 Sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  ^, J3 B7 l: [* U3 S8 a2 {4 d9 YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* Y! v# Q; g7 B: d7 s
similar to bonds, CDs trading in the secondary market have different value at different times,. D3 j! n0 q8 j$ ]/ s  ?' h0 @
normally the value is calculated by adding it's principle and interest. 2 m" w/ [1 l8 i
eg. the value of the mortgage+the interests to be recieved in the future. . w7 ?" Z4 M1 P2 K) Q1 r5 m
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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im not quite sure if the multiplier effect does really matter in this case.% G) V4 A, j- U6 A1 G; \+ d
in stock market, it's the demand and supply pushing the price up/downwards.
- T0 s0 }% `7 T0 Q4 ^1 r3 \For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 g9 }% w: B; E8 B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 v# N0 l7 P4 v9 ^
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. * T' W$ v+ k6 R: S" |
but the value of their assets did really drop significantly.7 t2 P4 ]8 p( v2 ^1 C1 o1 k

0 r; q& _1 {+ P. \$ _, ~4 Z1 \[ 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$ \2 k% O8 ?: m# E9 ^
Refer to last example,
9 ?8 v1 T& e" K; Qthat means bank A have no money because we borrow 10 dollars from bank A - z. |5 O6 m8 Q! O# y
Because bank A doesnt have enough cash on hand # z0 d# f1 g. X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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. \5 ~! ]2 P$ ~3 t7 n' @A->B->C->D->E1 P' T; d3 E9 e  e) d: n+ {
so does it mean if E failed to pay D,
: g. U6 |! l8 A8 h8 {all the B,C,D,E have to go bankrupt?
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+ v. e  N5 G9 H5 i7 v( athe multiplier just tell how much money created in a whole economy, 1 `$ S% T$ w+ |# W( s
in this case it doesnt really matter how much money is created, ) R0 }( A* d/ r5 Z+ ~
it's the problem of the debt itself.0 n) v% E3 r0 J
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
& t; A4 E" h, X" w8 M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/ Y# g2 _1 H, F/ @0 A  e5 c
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Thanks

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那些根本係 紙上財富  
: j  ?7 g) B0 |- K% |! }# _) h( V" j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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: T  j. i; A8 E: V4 y. _+ h; d2 @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 j5 F- E8 V) e: N當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 B& A6 e5 @5 U2 G+ `0 H8 [
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2 x6 a0 r! a: J3 u3 p0 H$ r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- a) }; y! t& h* z! K2 S' _扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 b7 Q2 Z4 C/ p計番回報率就已經係50%,所以可以好好賺
4 X. Q& {' h! X& I; V9 R前提係銀行之間要互相信任先可以咁樣借法
4 B  _0 H/ c3 X8 l! f同埋個市場既前境要係好先得
% T6 G9 \( N) C1 C2 T7 T1 H" q  X但當經濟一差,公司估值趺了,物價不升反趺
: R- X: ^. V# w9 R& }+ _4 @例如剛才說10蚊的, 趺到得番9蚊,
* n2 ]% G1 M; b3 `* F3 l咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' i) Y5 u0 u) Z6 z) Q
所以你就會覺得D錢好似蒸發哂咁9 g# }$ s# `) T# Y0 K& \6 h& A$ @
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你都可以當標野咁諗, 個樣野多人可以狂升值, $ I) L! V, h- i- L, 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, 9 @* B0 K8 X0 i, c0 |$ f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 o0 k" T! B; Q* z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. u2 ?6 G8 m) F, i
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.gif0 _1 [+ Q% _. C& e4 H
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 J9 G: t7 U2 I: \# g淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / G5 D6 L* k# ~' K; c5 E% J3 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
" h' |2 B; G! ^咁你話d錢蒸發左去邊? ...

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正係咁樣; h- M. P( j( q2 e/ b% L
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
, z  O& ^4 N, Y; ^6 b4 u分分鐘佢地唔使還錢0 ]4 U$ J+ W5 L" `4 t
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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,- Y" `  O7 o' Q, L( {
連國家都係問人借, 不停發債券, 印鈔票2 p3 D5 ^" H0 J7 |+ D: l/ P+ r& I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 b; S) _1 w: y2 C5 @( Y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+ T3 c. Z; d* Q- f' }) U
咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 {. z: Z* T4 p其實係...- C, p5 ^+ ]4 G4 c
因為以前未生產, 先消費
4 x# R1 s/ I1 N- p0 X! R+ ]8 U而家就要多生產, 少消費