0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: e  ]! p& P+ d) k3 ?0 L: J, l# L. \Why bank will sell 借據給第三者???
, J6 @* j( A0 R) E7 II was so confused.....

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$ u7 f: k( L" \. v講到尾都係賺錢/ y7 K$ K  `9 W+ T  {/ e
so銀行可以不斷放款! M+ C8 R& S# x
美國的房貸問題散佈到全世界% U4 ?) W. n- J5 B, W8 Y
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mortgage loan 8 ~* d- m# y/ O6 z8 H
>conduit5 e! x) u# ]: h, ^( _
>RMBS(Residential Mortgage Backed Securities)4 ?0 p8 l$ A" Q; d
>arranger' [1 H% M8 X# o
>CDO(Collateralized Debt Obligation). ~* G3 N7 T2 ?- |3 x8 _2 t" }
最後去到投資者

Kev

i thought it is the reason of rate of return.2 h3 h7 ]* j# @
CDs could have different ratings, AAA -> F,  p) ?6 W7 Q% Q% @+ T6 g$ x
more risky ones would have higher premium (interest rate) as a compensation for an investment.' h6 `0 ?' X3 S0 {& ]8 N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 S5 B9 v8 z, A8 F7 E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- n: j  |" i$ X5 S- U' L9 n
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 W5 o7 E/ Z; h3 f7 tsimilar to bonds, CDs trading in the secondary market have different value at different times,  d* M- _4 G  s$ f2 ]
normally the value is calculated by adding it's principle and interest.
2 B3 _' E+ r  P: b1 r( _3 z) ^6 Reg. the value of the mortgage+the interests to be recieved in the future.
, W2 t8 Q) B) j  ]2 gbanks 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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( M: O% U. X5 S4 j; D* j! `im not quite sure if the multiplier effect does really matter in this case." H/ ?5 G" Q4 W8 Q, t; P
in stock market, it's the demand and supply pushing the price up/downwards.
3 [2 M8 h( ^% M, zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 b  ~* h& F" P; E( f! J- s
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ |# @) o  L7 v" D) R  i% 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. - h0 O: @$ D5 \& S) t& M
but the value of their assets did really drop significantly.
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+ P% S! I( M( H8 a1 s7 i& j! G[ 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& o: i  S( X! s0 N
Refer to last example,
" ]; V+ p2 a* N9 E/ q! tthat means bank A have no money because we borrow 10 dollars from bank A 7 S9 @* w2 C) ?0 I
Because bank A doesnt have enough cash on hand . W1 f3 J) t! S! w" t$ f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ R0 m$ Q5 V. I; R% E, e
so does it mean if E failed to pay D, 9 y6 O) G" c5 I2 m4 I! D6 C
all the B,C,D,E have to go bankrupt?5 ?9 F9 K) ?+ l# B3 Z0 K  G

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6 M- ?1 e: G( ~" ~, t' f, q3 U* R. t8 vthe multiplier just tell how much money created in a whole economy,
1 z) X# [$ `0 G+ L# jin this case it doesnt really matter how much money is created, 1 o- {" ~2 M" ?$ c
it's the problem of the debt itself.
6 x0 u4 [6 t6 V' V6 @# k$ Ethe 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
1 j2 x4 X4 }- y! l/ p5 y4 R% R小弟一直都唔明...
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& |2 v2 `' J' ^' Z. E  M) e& h全世界都蝕錢，咁邊個賺緊錢呢?
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7 I: S8 g/ V* M3 _0 b# h$ _; ~6 `, b無可能淨係有人蝕錢無人賺架嘛...4 g; L$ V8 ~6 O

) v+ q% t9 c: d; Y0 H* c* f' [& O2 T敬請各師兄解答
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Thanks

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那些根本係 紙上財富  7 A; H5 J# H7 S/ B. n
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! u7 P/ ^3 P& i2 {- i8 y& g

3 Z  z; |# t5 i4 r: F5 f4 U: dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' z5 T# m' m. m$ k) i& H' f5 j/ u
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 v# b% n' s/ q" q  {& U  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
1 {% X0 J* n$ [$ I3 W5 z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: b# `9 e; W7 R) j6 R5 j6 }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ K$ E$ A  o+ z6 k5 V3 [4 l! S計番回報率就已經係50%,所以可以好好賺
. Z$ y8 B; Y) P0 Y前提係銀行之間要互相信任先可以咁樣借法9 T; T$ v5 `) }, U4 K: `! o- o
同埋個市場既前境要係好先得* B( e( M( x& f0 J( X8 B" J
但當經濟一差,公司估值趺了,物價不升反趺& O5 K8 I. h8 Y4 K  }5 h* g
例如剛才說10蚊的, 趺到得番9蚊, % l7 _# k/ I, O
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. y7 f3 K: P7 o0 ]3 |0 J+ y/ ?所以你就會覺得D錢好似蒸發哂咁
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% B2 @! e  E; O  D& _3 l你都可以當標野咁諗, 個樣野多人可以狂升值, 3 U) W1 F' |  V) q" i
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,
) ~; [& I& U/ V& D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ v9 l- s# Z0 M, I- O
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  I) i/ H( Q! u# o9 y& k- k- b; ]2 ^' w
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
& g* F  P$ @# }8 O0 J; h& o唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; k" |: Q/ H" o( j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  q' K' S( n, \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
1 B& D; U( z) Q: q. R8 _; H咁你話d錢蒸發左去邊? ...

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正係咁樣
; O* u, c3 U) Y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
& H; r7 ?8 [4 `! h# J$ ]: F4 L* o分分鐘佢地唔使還錢' R# u/ S. R5 ^( p; Z, E" z  Y

+ S0 I# b) C" g( }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,2 b7 h5 ^2 j0 p6 J& ?) c2 r
連國家都係問人借, 不停發債券, 印鈔票$ e' M( ^2 T& _' Z5 x
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 t8 o6 f$ S% Q  R8 o. i! c
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
/ j  }8 Y8 e' V% W8 h4 b咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
% z! N) \5 N( [因為以前未生產, 先消費
6 D" }: Z& ?2 e7 Y- G; d& Q而家就要多生產, 少消費