0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' g9 f7 A# u  I+ l  XWhy bank will sell 借據給第三者???
, f; v/ \  b# ]  T) j/ GI was so confused.....

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講到尾都係賺錢
3 \' J$ Q- u9 i- aso銀行可以不斷放款$ _. p& N% k5 z7 T8 `/ r
美國的房貸問題散佈到全世界
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8 O, [' e0 J) t1 f# Qmortgage loan ; p/ k$ T( j1 z7 G, f
>conduit4 ]5 j/ m) g, R
>RMBS(Residential Mortgage Backed Securities)
( T- w; z0 T( x0 w>arranger
' u6 L8 O. b2 N- K3 ?>CDO(Collateralized Debt Obligation)
! y0 c5 K* o" `8 A. \0 t最後去到投資者

Kev

i thought it is the reason of rate of return./ c# c; |% w& n0 ~
CDs could have different ratings, AAA -> F,
9 s& f& U$ W; Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 C: ?1 j0 j1 [% N# ]9 g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. t; B8 f$ _- l: X! s* v' n, Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 y" C9 {8 O% |* \0 E6 iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) @: A2 y. ?- ?' i# \% A
similar to bonds, CDs trading in the secondary market have different value at different times,
8 B8 z- t1 n4 s0 Snormally the value is calculated by adding it's principle and interest. 8 z* [% O! {" |. ?2 V. K( Y( g
eg. the value of the mortgage+the interests to be recieved in the future. ' R) t( b4 u9 u9 c7 O  n& h- `
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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2 ~/ R- ?3 H( N9 u/ i# A' ?im not quite sure if the multiplier effect does really matter in this case.
; j6 `, y3 A6 z- din stock market, it's the demand and supply pushing the price up/downwards.* o  E. v, \% J" e% y/ g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 f" {- A4 J5 [: ?6 D% z8 B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- N/ ^: W; ^( x' i
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. 8 x1 I; I! }! M9 w( g6 d. D& \# g+ e& O
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 ]

Kev

原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* H; _) J" K* M7 P* n4 v
Refer to last example,
" J9 O1 g, h( Rthat means bank A have no money because we borrow 10 dollars from bank A ; H6 Z! b; a" j* I# e0 y
Because bank A doesnt have enough cash on hand
# y3 Z; |. M1 L# t2 s7 ]* |9 R$ t9 Gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 a3 |: Q2 z9 U
so does it mean if E failed to pay D, 3 ]4 F) `$ ^7 i& W- ]& E
all the B,C,D,E have to go bankrupt?$ J( H# r# ]$ ]2 @" H+ m3 O
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the multiplier just tell how much money created in a whole economy, + y: T7 t/ \* e' m
in this case it doesnt really matter how much money is created, 7 f/ \. J. f. F; z. Q0 E& P8 G& I) R
it's the problem of the debt itself.) }0 p5 Q8 q& S6 Y1 g" \
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/ a( |8 u4 l; r- z/ J
小弟一直都唔明...
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9 ^; j1 n: x4 W" Z' F' N全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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, d# L( k6 q* H% E5 `敬請各師兄解答
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4 z. M8 }+ x; Y: U, SThanks

/ O0 q0 p7 I" U& E. A( w那些根本係 紙上財富  
  ]2 S- e+ M3 c+ |7 P1 ]" f5 ~4 ^- {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- [- Z8 ]4 R8 R+ i+ t4 F

' D1 \7 ?8 R% _; jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ S& f* z$ p/ Y8 U" k9 z$ y
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; N) X5 K+ r% h, n- Z' w
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9 e- t9 g8 W* @2 z' ^6 H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 T% _" T7 |  l# [" z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: l& _; [6 b; U9 K& K$ I計番回報率就已經係50%,所以可以好好賺
( f5 c: M3 K1 g前提係銀行之間要互相信任先可以咁樣借法3 N; m+ C8 A% D& d" T3 v2 w- o
同埋個市場既前境要係好先得: l; i/ j3 G5 w3 L8 U' j
但當經濟一差,公司估值趺了,物價不升反趺
( e$ }, X3 W. E6 r5 D$ C例如剛才說10蚊的, 趺到得番9蚊,
- U4 D& u* x3 O& A' w( B咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- D! s. ^4 s1 R& o1 h3 f+ Y' }, }
所以你就會覺得D錢好似蒸發哂咁
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: q2 L. O$ h0 G7 h# d% J% v你都可以當標野咁諗, 個樣野多人可以狂升值, # X4 D6 U& a4 o
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,
: j6 ?( o6 t3 m" X+ Z* m: n+ r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 P1 m  Q# M+ [& }; x* {' x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
" _" w$ y. |: e& H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: W9 E4 m. K" O9 {1 f
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 ], f" h, t- h( a# K/ R- y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( v, |9 U- }: V9 \' V4 i" Z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
3 X9 M% p* E( j咁你話d錢蒸發左去邊? ...

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. r+ o& k$ S7 p正係咁樣, L! Z+ ?% V. N  C. m; P
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+ \/ `( h2 S% I* ~
分分鐘佢地唔使還錢3 |4 z: t8 l3 G. R+ y) U
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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,% a* t3 V0 }5 K& X
連國家都係問人借, 不停發債券, 印鈔票
2 x0 V6 u3 H1 d. P, ]$ K4 L  K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" a7 ]  S; ]5 I9 q! `" j  r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" w9 f: X6 r0 t* Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ u% Y2 d6 W2 n8 V- I8 S) V8 ?  W其實係...
6 f" e5 e' d, d1 @: z* F因為以前未生產, 先消費
) Z9 k% {, |& K' H; q而家就要多生產, 少消費