0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 h# h; z; J' z+ W  W- y
Why bank will sell 借據給第三者???  D, D0 k2 _1 a# k9 M7 [. N
I was so confused.....

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% l3 E, X, r& k! a7 c- j7 u3 N講到尾都係賺錢
; s' h3 |% O3 x* D5 Sso銀行可以不斷放款
" E) x+ e. C; u! Q" [美國的房貸問題散佈到全世界
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: n1 @* C$ c1 v# R2 ?" ^+ N/ fmortgage loan . D7 x( C# l( a+ t; T; g  k
>conduit
2 A$ ?  l& {0 ?: M3 Z; h>RMBS(Residential Mortgage Backed Securities)" }8 b. g/ d( Q7 _
>arranger; H' j. p1 A! E3 o; Q6 m7 `
>CDO(Collateralized Debt Obligation)( [3 K/ y: e" ^& N8 c1 ~
最後去到投資者

Kev

i thought it is the reason of rate of return.0 C# Q3 r0 {, n1 H$ t# _
CDs could have different ratings, AAA -> F,
; z/ E( a' q: Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
; A9 A' R- |* l  O% W( gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# a( R1 Q, i, p7 ?1 O! R' P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 [7 H9 ?, [- U6 PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( ?, [( P( _  Z9 u  Fsimilar to bonds, CDs trading in the secondary market have different value at different times,
- g5 A7 I$ t/ x' R. @: mnormally the value is calculated by adding it's principle and interest. ( X1 e' Y6 V/ k  R( c" `; a
eg. the value of the mortgage+the interests to be recieved in the future.
0 M7 t0 i, `# t3 ?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.. f. @! m  F7 x) p6 V1 Q

5 q6 c# e' F: q' \im not quite sure if the multiplier effect does really matter in this case.
: x+ M5 L" u) i# l6 uin stock market, it's the demand and supply pushing the price up/downwards.  y5 O7 i$ K7 R" K( y! P( M) n% j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" C/ ^$ [6 r  w/ N- w7 D& _& ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! e: {; M" i) b; F1 m+ b, uThe 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.
1 u' G" K* ~% Kbut the value of their assets did really drop significantly.7 p5 @- q, z+ p' q0 ~# F

: A$ I+ @& g; H) V/ O' c+ w[ 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.gif6 F& P: c) W# Y2 |
Refer to last example,2 T( r) x5 I1 r6 n4 ]9 t$ e
that means bank A have no money because we borrow 10 dollars from bank A
$ J" f) Q0 H" Y- DBecause bank A doesnt have enough cash on hand
* v& A3 Y2 E, y, I1 _5 D, B7 ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E! z) W& Q8 R, J; F, [8 F. r* K
so does it mean if E failed to pay D, & y5 l, I1 j, h/ c$ ]* f1 D6 |
all 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, , M8 z/ C' W' W' D2 g( F: q: `' o
in this case it doesnt really matter how much money is created, / H) C, ]) R1 q. k$ m  a9 t# Q! C
it's the problem of the debt itself.: r8 {0 `9 M1 o/ B
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
' i' ]; r) m* g$ 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?3 C+ V; p+ T8 D" T: w
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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: H, l, d  g$ z0 l! G+ Y/ d( X

- q$ M, b$ }8 D0 eThanks

# f" |" Z* @7 z8 m6 z那些根本係 紙上財富  
& p% w6 p  J8 K5 f* b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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& _& @2 ]# `' l4 \9 T4 Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產& R/ K4 `* y7 |6 d7 A9 h
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' Y6 n* _( |! N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' }7 d  K# |- r* |4 n8 E7 h) {
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 j: O& Y5 w3 I4 m* ?! C9 F
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
5 L- A* y8 b0 e5 N計番回報率就已經係50%,所以可以好好賺
/ n7 U, i) A3 T( E6 ?" R8 D: Z+ B前提係銀行之間要互相信任先可以咁樣借法- m$ v% a% W% X% O9 n
同埋個市場既前境要係好先得
3 ]: r7 ~) N9 }- T但當經濟一差,公司估值趺了,物價不升反趺& _7 y3 }" b% A; a
例如剛才說10蚊的, 趺到得番9蚊, ; [, A3 m& S( p+ Z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 [2 N5 S, [1 |  z5 `/ f9 h所以你就會覺得D錢好似蒸發哂咁! h' W7 M* K7 q0 m, o1 U

% r: @4 }2 T. Y- v! G8 ]4 e, k你都可以當標野咁諗, 個樣野多人可以狂升值,
4 Q6 M$ z' o4 i) `5 N8 i9 h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, ! B" ?' S4 V1 E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) g' E+ l; I5 s# S/ B' l0 w) `$ 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5 H' W7 w. u1 `) w1 l) G/ X
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. E* N: i3 I" R. s
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . G9 l* U- N# a' j: b' c0 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 X" h. v$ Q- k( G6 ~
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7 T2 g9 A2 u7 n
咁你話d錢蒸發左去邊? ...

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正係咁樣5 l  [! x# @4 s6 m: v! B
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
; i" L+ S0 I. s6 N! {8 @0 C分分鐘佢地唔使還錢: e2 y$ p+ H2 _: Y
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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,0 m+ w: k; Y: j3 d- k: c
連國家都係問人借, 不停發債券, 印鈔票' o6 ?4 n' {- b4 Z- Z4 z
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& i( p/ _" K6 ~5 n5 x) ?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
  {: a/ _$ D1 V$ |) c& V  Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ f1 U8 b1 n: }8 j' x7 u; z) d: E
因為以前未生產, 先消費
* M% C) e; l. H6 c& M3 @& H而家就要多生產, 少消費