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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif, T* ^2 c7 A4 ^  |  H
Why bank will sell 借據給第三者???( @: ]; q: m' M6 b8 d1 {8 L1 _
I was so confused.....
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+ M: e6 T1 O6 i* `) s$ {& D  F講到尾都係賺錢
2 m, Y- ]0 e. V0 ?, N( Uso銀行可以不斷放款% q7 }  X# Y, a0 x( j7 _( }( J9 B3 r
美國的房貸問題散佈到全世界
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mortgage loan , F9 O* U% F' ]
>conduit
# n) z* w; f& f+ {>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)* u6 h; Z1 |( s/ W
最後去到投資者
i thought it is the reason of rate of return.
# C# j1 g0 i4 K; e! x7 B" ZCDs could have different ratings, AAA -> F,7 P4 r, l, W4 M0 u
more risky ones would have higher premium (interest rate) as a compensation for an investment.% N( o. d$ }; ~. F. v- O
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 l7 M' d4 z. K3 t' Q* N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' C1 N8 l9 P+ ]9 E. {. q) M4 dAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ N; `+ X, F" {4 C: b% R* usimilar to bonds, CDs trading in the secondary market have different value at different times,  N; Y3 l" B& w9 v; r
normally the value is calculated by adding it's principle and interest. 6 [; e5 n' r, g2 x1 l8 Z7 l, b
eg. the value of the mortgage+the interests to be recieved in the future. 1 [, f4 d4 n# H2 g
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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9 j5 F2 N8 ]: K. `1 S& J, S% Tim not quite sure if the multiplier effect does really matter in this case.
0 y" r" A4 a3 D; J% y  Cin stock market, it's the demand and supply pushing the price up/downwards.$ f/ f$ g. w7 W2 J* C0 V
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ u4 X7 o# \. e" `" BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; S/ ~0 N0 a' M5 C5 f* k+ v" Y% @
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. 6 R% Y4 S" ~/ U" ?9 H3 d* ]# C
but 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 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! Z4 \- c3 _0 g9 S2 V1 f
Refer to last example,# X% M1 P* _( u- p. P+ n  [/ ^: u
that means bank A have no money because we borrow 10 dollars from bank A
/ ~9 x! d5 P* E  Y( x0 i0 FBecause bank A doesnt have enough cash on hand
( e9 E# F# z' v! ~% ntherefore bank A need to be bankrrupt ??? Am I right ?? ...
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% b% [- G' \0 I' W- cA->B->C->D->E, C. R" J3 ~# j! @; b
so does it mean if E failed to pay D,
* H$ G- g1 Y, F. g$ U4 lall the B,C,D,E have to go bankrupt?) E8 M1 A7 o' h' D

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2 X" T7 m$ f+ X2 j4 {the multiplier just tell how much money created in a whole economy,
) z  L8 X6 _1 r! nin this case it doesnt really matter how much money is created, : p, A  z1 u1 N0 Y
it's the problem of the debt itself.
! ^+ H0 c0 e3 e2 G4 g; X$ Kthe debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 ?. ?# S( t! @% ^- [  N
小弟一直都唔明...
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7 }6 }9 f0 B; i& K0 c1 ~" k全世界都蝕錢,咁邊個賺緊錢呢?
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$ J4 M+ `/ m' C, G無可能淨係有人蝕錢無人賺架嘛...9 N. w. ^5 D' n( Q% C, U
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敬請各師兄解答
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Thanks
# ]0 C# l7 i# n  O( A那些根本係 紙上財富  
. W  ^% C: S# R6 z2 @2 L; N% w. t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
with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic! n7 F! h6 ~! Z3 A- W- n
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http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產3 l) l' ~# B. F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; [( A' h( l* ?% o5 j
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5 C9 H5 c! I( R2 H4 ~: s4 v6 s
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  _) `( k" d1 c" @* G( W( O; X) G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ Y% z# q/ @5 w6 j0 e& C( q$ o9 F計番回報率就已經係50%,所以可以好好賺
; Z+ ]1 ?$ `, D/ K- N% S5 z, P前提係銀行之間要互相信任先可以咁樣借法
$ e) J. z7 h1 n! o5 W  z9 {同埋個市場既前境要係好先得
1 G0 M3 h! g. C5 O( s但當經濟一差,公司估值趺了,物價不升反趺
- w7 T6 i# ~6 G, [; Y: t! p4 D2 u例如剛才說10蚊的, 趺到得番9蚊, # x( J4 E/ Z1 p) N+ o4 A! ^, ~& v) W
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 g1 M0 I6 V- r& ~- k" [
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
1 n1 t: z  S! c# _- s8 ^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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, W% g: f, b: I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 `8 ^" d9 h" S( K+ N' 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/ N' H# }+ k) B- w
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 h. L" ~8 s( o8 Z' ?* q! \8 j唔係d錢蒸發, 而係比美國佬洗晒未來錢, + Y/ _, O; h+ q3 ^9 W) U1 C/ [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 k( q3 l7 q* B1 l( s( R" 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
, ^  X  q7 O. G( {咁你話d錢蒸發左去邊? ...
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正係咁樣
. w4 r/ H* A5 v7 _* g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
! e  Q( ~- m: k+ d8 S" E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,1 Q; [% @0 i( _  D
連國家都係問人借, 不停發債券, 印鈔票* Q' ]& @( y& h* V* e# i2 @
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. g# }( h- ~# x' d/ K' \0 |編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif
# B* G+ {+ K4 o3 ^0 r咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
- G9 {! a$ z) ~# w3 I因為以前未生產, 先消費
$ H3 K0 `4 A% t# e( {而家就要多生產, 少消費
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