0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 t0 L1 Y5 C, M" }; ]Why bank will sell 借據給第三者???. `, n" E- }1 `
I was so confused.....

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2 U$ I1 p9 S2 G+ J) l4 B6 c. w講到尾都係賺錢5 w2 `( j0 K5 O& }8 T+ I/ ^
so銀行可以不斷放款
1 p2 j" P& F0 U5 B9 x2 L美國的房貸問題散佈到全世界
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5 h% ?' Z' f7 P- e! r$ Wmortgage loan , C2 V" k" k6 e7 H) m+ n8 s
>conduit6 f" a2 {  }( c, s( \0 ^
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)5 N+ G9 J% B& p: p
最後去到投資者

Kev

i thought it is the reason of rate of return.
( ~9 ^  s! A: y& e3 Z( A5 t( tCDs could have different ratings, AAA -> F,
! n2 @. F, y" ?: a7 k" F. b8 umore risky ones would have higher premium (interest rate) as a compensation for an investment.
, p! R  e4 }# x" J! u, n0 Xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' u' h' P+ O( s, a4 R8 v, V
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 o8 H( W5 }. P: U! m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: l8 s- r& Z, s+ R
similar to bonds, CDs trading in the secondary market have different value at different times,( p, W2 s: @2 ]3 ^' h
normally the value is calculated by adding it's principle and interest. 3 A/ t4 h: F$ N4 \
eg. the value of the mortgage+the interests to be recieved in the future.
  [9 i0 Z7 Z1 X* Z' Xbanks 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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  R8 u" J" w8 D# i# Gim not quite sure if the multiplier effect does really matter in this case.. P! C' a1 t0 t- P# Y
in stock market, it's the demand and supply pushing the price up/downwards.
( W7 C6 m: J+ H% ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) O; J* p  c: |9 @6 l9 }' z+ i0 yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 `2 b/ F) i( }& h0 o. KThe 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. * q6 A6 a5 p- Y9 p5 n. H/ Z1 ?5 e; P
but the value of their assets did really drop significantly.' y% |2 G* b4 Q) T9 j

& f0 j" d& D! h) `( p% y( _- ~3 w& m[ 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 a+ M8 j+ y0 W5 k9 F
Refer to last example,$ D( `0 B  t8 [/ m: G! `
that means bank A have no money because we borrow 10 dollars from bank A
- n$ L+ n7 v( T) y2 |3 C: MBecause bank A doesnt have enough cash on hand
% b% M5 d$ W' Ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 m% J- \" t% ]# D/ V, X" S$ {A->B->C->D->E
% @$ v; W! A/ N; Mso does it mean if E failed to pay D, ; b' A& u1 W) \1 Z: ?
all the B,C,D,E have to go bankrupt?
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! \  ]; [3 P& \+ B' k- V6 kthe multiplier just tell how much money created in a whole economy, / D3 \/ y: k; B2 n  w
in this case it doesnt really matter how much money is created, * W& b* L6 ~& }1 A6 J
it's the problem of the debt itself.
/ ]+ C/ f; |, K+ ^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, L+ l7 N$ O# P! c& |9 D
小弟一直都唔明...1 P7 _! u: `7 a9 n6 m
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全世界都蝕錢，咁邊個賺緊錢呢?! Y' \# @$ Y" s0 c7 o: N3 x
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無可能淨係有人蝕錢無人賺架嘛.../ E0 D% @2 p  X( ^6 V3 R% T
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敬請各師兄解答
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" O4 u+ _; U. o: gThanks

4 b) a6 y2 ?) j1 d+ S& i& S8 V0 F那些根本係 紙上財富  ! Q) s  F4 W  a5 M: p( L; g
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: u# V! Z9 w& Q; V
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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
0 y0 N- ~: z+ o' h' O. Q4 ^當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  ?4 l, R: N3 ^& t7 U9 q2 k7 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
1 G' C$ C, `& q) b6 T+ e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% N) U& s" ?; Z% u; u: |' b0 M) B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ k4 U  T# d  k9 }5 w( w" K) C計番回報率就已經係50%,所以可以好好賺
) |# ^! Q* S% n3 J: D, Q前提係銀行之間要互相信任先可以咁樣借法
3 X9 ^, {# w- E0 T同埋個市場既前境要係好先得
( d% {' }6 t' C: _. k但當經濟一差,公司估值趺了,物價不升反趺
/ d5 L* c  \4 d( U5 A% Q例如剛才說10蚊的, 趺到得番9蚊, ) n/ [: i+ P1 x1 s: S4 B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" u0 h+ M- o& S. I3 E- x所以你就會覺得D錢好似蒸發哂咁1 Q" H# h( C9 L. R. x
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你都可以當標野咁諗, 個樣野多人可以狂升值, % N, \+ Y' l2 m, K3 A4 j, A5 n
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,
  d# B3 L4 y( k2 k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : Q: ~/ n  X, I: F  e" 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
' |0 A/ K# B! j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
- |# s! ~9 J5 V  e唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" F# _7 h7 l# F/ j. G- f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 s3 C9 |8 j% q- b
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 t. a: p; P' g4 ^  `' j3 @咁你話d錢蒸發左去邊? ...

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, K5 B4 j7 _/ Q' L, @" `2 C9 K: A正係咁樣4 T4 h. r0 B& Q, m- N3 U$ h
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
7 E! [1 a$ X0 k2 |分分鐘佢地唔使還錢8 `3 a1 }' r1 }. P6 c
4 }0 A' E6 q2 T9 x  }
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,4 @7 b+ S0 k# Y& e4 P
連國家都係問人借, 不停發債券, 印鈔票
2 [; h" U4 n5 Y/ j! u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 n% ]6 d* I/ b+ f3 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
# I, z- `" N" p( C9 o% L- e" H咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 y9 h$ u) I6 V# k: j$ E. T: \) ]" h
因為以前未生產, 先消費
7 d. ~  V, ]6 p8 o8 g4 ?1 q而家就要多生產, 少消費