0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: b2 h" O, W' e; ?0 l! Q- RWhy bank will sell 借據給第三者???
- G, {2 ?; A5 ^& d' C# yI was so confused.....

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1 W; a- k! o% Q& Z# E9 D8 r講到尾都係賺錢
5 _: }+ W$ c4 i; F( ?3 _9 }5 iso銀行可以不斷放款5 i$ {3 Z( Z: ?& P+ L8 ~" z
美國的房貸問題散佈到全世界
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# X9 v- d* G# G4 hmortgage loan
/ A' B/ Z3 o0 I5 v- v* Y  H7 B8 f>conduit
, A9 g6 X$ L* ]/ P/ h/ \>RMBS(Residential Mortgage Backed Securities)
( g+ d1 {, J- U, I" Z! Y>arranger
( k1 c: ]3 e" G>CDO(Collateralized Debt Obligation)8 L7 B2 d4 B% v) h$ k
最後去到投資者

Kev

i thought it is the reason of rate of return.* F/ F: W1 _! y% w, G/ X
CDs could have different ratings, AAA -> F,+ R% Q4 O9 }2 G  ]- z0 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 i, A6 S. m! B, ?& ^# {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* B6 J4 e6 b( e( a5 N6 I/ b; {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 k, ]1 W, p3 F% p/ {5 N! m4 oAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 L. b) Z4 z* c, O2 ]7 Esimilar to bonds, CDs trading in the secondary market have different value at different times,
0 Z! q4 u# r; C% q* L" b% mnormally the value is calculated by adding it's principle and interest. , X6 v6 j7 V, _: p6 W( ]' z  r
eg. the value of the mortgage+the interests to be recieved in the future.
2 h& Y7 Z$ }0 l4 {. F" ~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.0 b& v( W* X/ w/ }- g! Q
in stock market, it's the demand and supply pushing the price up/downwards.' Z. h$ M; Z9 ]9 y* {* e% l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' m( ^+ H) e( ^1 e+ S$ I: V, IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' V& o* d+ r8 H! v5 h9 [  D- z3 AThe 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. % B+ |6 q9 K. H1 f3 ~; _
but the value of their assets did really drop significantly.
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1 r! }- v/ k7 g5 `1 N[ 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$ m) ^/ [5 s+ S
Refer to last example,
0 O7 e% e' D+ g# ~$ m6 nthat means bank A have no money because we borrow 10 dollars from bank A $ E/ |) v; N) D& m2 c3 r6 N; W9 d% _
Because bank A doesnt have enough cash on hand
, ~) h: l7 M! O& g# ]therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E/ _( r7 ^' \; x! J" A/ K* r5 h1 m
so does it mean if E failed to pay D, . l5 _" l! ]1 ~9 p* H+ p6 R
all the B,C,D,E have to go bankrupt?" Y# g' M; o3 e0 l1 L" Q8 n. y8 q- X

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- L/ `. E; T1 \# Hthe multiplier just tell how much money created in a whole economy, 7 p2 g& P6 |7 @7 c/ }. ?& J
in this case it doesnt really matter how much money is created,
2 l* s! V7 R- {9 P) ^it's the problem of the debt itself.% H3 ~+ {: n3 G/ n; G& P
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.gif4 w, ?# H5 ^5 H" e/ @# c
小弟一直都唔明...4 d: o% f* B: P5 Q

3 g; {5 n; P) i: t" x8 G' d% X全世界都蝕錢，咁邊個賺緊錢呢?
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8 A* U: |, k0 n( A無可能淨係有人蝕錢無人賺架嘛...0 g8 z; E& f1 A! R6 U
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敬請各師兄解答8 P+ ?% n7 G  v& s" r" B

4 }7 m. Z1 i9 u6 Q; p+ [! GThanks

, Z( G2 i: A. `' J  q那些根本係 紙上財富  
" Z6 T1 J* r6 h* l3 c# e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
; e+ q6 }0 M# @3 E# _, [/ F$ H+ r3 ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ @2 f) J$ Z7 r* q+ Y# C) V" U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. h- P4 _% i+ T* p  |  t
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! s- V* B7 q9 E# Q, Q; n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 T- S/ Q( l( J" x8 S
計番回報率就已經係50%,所以可以好好賺
" c$ Q+ X  y5 {前提係銀行之間要互相信任先可以咁樣借法( B( n; ]6 t; d8 t
同埋個市場既前境要係好先得( Q4 x5 ?3 F# s! I% x0 Y. j2 Q/ l
但當經濟一差,公司估值趺了,物價不升反趺
( h# f* h/ {, d, u9 @. R* E& B4 @/ M例如剛才說10蚊的, 趺到得番9蚊, / y: U# L' p, z; O
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 w7 W. i1 D& C: t; K8 }: B
所以你就會覺得D錢好似蒸發哂咁% V" c! i6 `: q7 B3 z

$ H1 t" d; ^6 B2 J' L" K/ F你都可以當標野咁諗, 個樣野多人可以狂升值, 7 _  V; N* l5 v/ D
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,
2 B3 [; O/ X( m. N+ f# u- s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; E0 z  x8 I+ o$ ?( [' p* p
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
+ T9 @" n* r9 d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) ]' i3 p" l- X
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& x9 P, @9 t' _- v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 Y/ O" N. X. s5 p
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
. b$ F; z. ]+ u/ W( i7 G0 a$ D$ J# U& r咁你話d錢蒸發左去邊? ...

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正係咁樣( A5 k4 a0 f8 z5 v4 E$ \" r/ V5 k
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
1 _6 I* G; E1 L5 _% d. o分分鐘佢地唔使還錢
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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,
6 L  d- G( W, }+ V# K- B% v: s連國家都係問人借, 不停發債券, 印鈔票; j( p3 Q, U* n5 w+ u0 O
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: j+ D  h( X) Y4 ^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
$ N1 \' W' a, b. _5 C9 y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...2 f4 k, `8 M, G
因為以前未生產, 先消費
+ c1 _. Z! f# ?; O而家就要多生產, 少消費