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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
: C+ v. R, G$ ]9 |Why bank will sell 借據給第三者???- C6 J  }( n; G# [8 z6 T, s6 }
I was so confused.....
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講到尾都係賺錢1 x* `* b: a. B: O0 m; K7 @) Y
so銀行可以不斷放款
$ U7 g4 ~0 f8 C% G1 s美國的房貸問題散佈到全世界
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8 b" Y4 v  z! B' Y6 a# emortgage loan - \$ u2 w) N  d* b5 A2 {
>conduit* F7 T+ {' n- S0 M' X0 T
>RMBS(Residential Mortgage Backed Securities)
8 Q3 z, x) ?; \>arranger
& s5 c9 `' t+ D# F>CDO(Collateralized Debt Obligation)0 q& }+ {  e" C  N) B
最後去到投資者
i thought it is the reason of rate of return.2 F& N: ^7 ~. D# G* E0 f' f: t9 h6 H# e
CDs could have different ratings, AAA -> F,
! Q1 c) f9 O* jmore risky ones would have higher premium (interest rate) as a compensation for an investment.
% y1 |% N+ c! dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 T; D& O" I, K' d9 \in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& i  J+ |8 P) ^, a: p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 U% h/ K) t/ f9 _; Lsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 ~7 M. j& Y1 Vnormally the value is calculated by adding it's principle and interest.
' s$ I7 Q# f" x! z0 s* Reg. the value of the mortgage+the interests to be recieved in the future.
) J7 P/ k: Z" abanks 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., }9 H- G) R" ^* ~, Q2 R, ^

8 ]  y( @8 r, J5 {& t2 b. ]im not quite sure if the multiplier effect does really matter in this case.2 g6 w. i! [/ H6 v* ]1 Z
in stock market, it's the demand and supply pushing the price up/downwards.$ K$ w' X; p* ~: V& k, \( b* S9 Y
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, s# b6 I7 }) R. gA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% ]3 M9 [, L3 n/ p6 y4 J
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. - N1 ?; d- N* f2 L# D
but the value of their assets did really drop significantly.2 }& L: R# T0 K9 c' L

  k% K% s! ]  d# r' w[ 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( u9 c3 |# ^# p( h, J+ g
Refer to last example,% o" S8 `, }; x% w1 A% m
that means bank A have no money because we borrow 10 dollars from bank A
  G- X6 {9 g" {, ^& ?4 fBecause bank A doesnt have enough cash on hand
6 ~$ ]0 N/ _( R2 D# A: [( rtherefore bank A need to be bankrrupt ??? Am I right ?? ...
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4 [/ J& `/ p* j3 X  `A->B->C->D->E
7 O8 T; w* y% `# Y6 wso does it mean if E failed to pay D, # P; t/ g- F1 S' M
all the B,C,D,E have to go bankrupt?
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9 `" i( C+ j5 S0 Y8 {! ]5 f6 |the multiplier just tell how much money created in a whole economy, 9 C+ ?2 J) B) Y4 R, [6 v: L8 a' u
in this case it doesnt really matter how much money is created,
) B! H7 k/ K7 U0 N( [) git's the problem of the debt itself.
, d( @8 i4 a* v$ y; q- Z1 W5 Ythe 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.gif3 N* H% ~% |( I3 A
小弟一直都唔明...7 p1 E& n' m1 ]2 Q/ O

7 X  B% y# i0 `- @# I4 H全世界都蝕錢,咁邊個賺緊錢呢?
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0 {: ~3 G& S- r* H" Y2 M& A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
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% F, h# }) H) HThanks
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那些根本係 紙上財富  8 r6 ~1 v8 X2 v: U; F. i, a0 h( W
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" a6 \& h' X. Q* {  N# {2 w8 K

7 X( N% N2 H. o. H# thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產" V8 b- x- D, M1 {
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& j! i2 Z9 D  X& ?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" f+ l1 y% v6 {- b5 ?/ e6 W
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 I0 H# _- _6 c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 }; [0 P9 h+ Q& {! W0 M6 Q: s計番回報率就已經係50%,所以可以好好賺# A# L% C3 t$ ]$ K3 E
前提係銀行之間要互相信任先可以咁樣借法! y% e* Z1 ]& ^
同埋個市場既前境要係好先得
8 W6 ]+ y* N8 w, K  X% j) ^但當經濟一差,公司估值趺了,物價不升反趺
: [: H3 \& e; {7 t- }" D例如剛才說10蚊的, 趺到得番9蚊,
7 m, ?( R  w6 D咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ U" |7 H  x: v. U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,
7 `7 V  ?4 J$ B; U, Y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,
/ I# ]/ W5 Z! k( f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 v. c; }. y# ~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% ?& u0 ^- L! X. r; \6 `: E- G
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
  V0 w) Z& \3 ^唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" T& ?0 [6 Q2 |. [) j1 M6 j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 _7 g- L9 d9 \  [* M& ~- 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& P. {/ \( s( p+ C- V6 h% x
咁你話d錢蒸發左去邊? ...
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正係咁樣" [3 |- {0 {. j& y& f
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0 z; |/ u. _' ?5 i* k
分分鐘佢地唔使還錢' q) n+ r9 E" K$ F/ f9 S* }+ I

' F3 A7 _( r2 g- K. z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,& h3 t& t  {' l8 n. |
連國家都係問人借, 不停發債券, 印鈔票
" f+ Q% F2 g6 T1 M5 r& N6 k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( E. O5 `  ~/ t- d/ N, w0 b
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.gif9 M$ p1 {5 |. |2 J
咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...3 ?- Q5 ]% A2 J: i' W; B
因為以前未生產, 先消費
9 m! ?* \. }0 z1 q9 }$ N* t而家就要多生產, 少消費
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