0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 i$ q+ e% Y) H, L( x2 l" oWhy bank will sell 借據給第三者???
5 {: {% ~+ N7 y9 }- D1 T! t, Y$ @( II was so confused.....

9 P. _; n2 ~" j6 f. y3 B
: Q* d/ Q4 M+ c6 S# k$ u9 c講到尾都係賺錢
! S, }& U% R2 p# k# x7 Y: nso銀行可以不斷放款
7 ^5 i% \; u7 k0 U8 K美國的房貸問題散佈到全世界
" y$ S6 V: p- |+ G4 ]" O. g- O* P# @$ ^2 u2 H/ d1 A/ Y' X
mortgage loan
2 W3 d4 d2 l+ V: o' D4 |) }>conduit/ [. o, d' }# e' m( q1 b. Z3 K
>RMBS(Residential Mortgage Backed Securities)  b4 N$ g) G9 W' B, \, o
>arranger
; l  L; F  a1 o8 z/ p>CDO(Collateralized Debt Obligation)
% r! _, H/ d9 u8 E' [最後去到投資者

Kev

i thought it is the reason of rate of return.) |. Q: F  V. s0 O: p0 Q" G# s4 K5 a: Q. D
CDs could have different ratings, AAA -> F,
8 E- n, n) d- P5 E- \( C9 Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- i3 b& l0 `! wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! J/ r* g4 D* q7 r) K" I' P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 c! b. o+ ?6 b7 z" U9 _7 O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 f& q3 H& ]- q9 \0 j$ F1 e
similar to bonds, CDs trading in the secondary market have different value at different times,, p, P; N6 O! L8 u- K
normally the value is calculated by adding it's principle and interest.
( M* M  P# j8 E5 g% `2 l' ]2 Keg. the value of the mortgage+the interests to be recieved in the future. : m' n: G, u0 w# Q5 O  X, Z5 w
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.1 x; J% S7 @; r* k

; w! @3 T2 L( K( Tim not quite sure if the multiplier effect does really matter in this case.2 C( M) {' h' \6 b0 q7 p
in stock market, it's the demand and supply pushing the price up/downwards." s; J7 `# s4 c( }2 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 L. n8 t, w/ ~2 V7 R- j6 q- mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) L/ K) [$ @  Q" L+ t
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.   H3 i/ L8 D! R) E3 F
but the value of their assets did really drop significantly.
& n7 j5 u* m7 u: s! \) R. a4 ]
4 `3 X% y3 l) e% d8 O7 S, v6 p[ 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
4 i  `+ E! M( N9 m. ^, LRefer to last example,% Z( J# c& O5 J( D1 `0 g
that means bank A have no money because we borrow 10 dollars from bank A 6 z+ s  u3 f; {0 E( F
Because bank A doesnt have enough cash on hand
: @" _5 k$ a3 D' `+ U) ^therefore bank A need to be bankrrupt ??? Am I right ?? ...

0 c# I' |) Y) W" i. Z

( ?) o! S7 |6 c+ n
! n% d! t$ K) D: m7 U  ^+ }2 wA->B->C->D->E0 V9 O! ?0 y+ j
so does it mean if E failed to pay D,
7 K* F' d5 Y, K4 I7 M1 _! Vall the B,C,D,E have to go bankrupt?& K" \) a" c+ U$ R) L. l

( ?7 U8 j" _( a) F( p- `# s8 |$ f" p  {1 P  A  I! a
the multiplier just tell how much money created in a whole economy,
) }* i' g# Z8 v2 Y  Ain this case it doesnt really matter how much money is created,
! @0 m# w5 g$ {) u' `: K0 ~it's the problem of the debt itself.
$ |0 P, x: `( k  ]7 e9 ^  vthe 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; P. U, g0 Y4 |
小弟一直都唔明...
! a3 g) _7 F/ t9 u6 }) }3 x( |6 i7 {6 K! m7 G2 [
全世界都蝕錢，咁邊個賺緊錢呢?
: l0 |2 K5 i# {
+ m7 e; g; `% J% L無可能淨係有人蝕錢無人賺架嘛..., D3 m7 a0 ^/ e- m& i9 f' j
1 f2 G5 _, v* l- k9 [
敬請各師兄解答
: P: I& }+ B7 E! @6 U! i
9 `$ v5 x; u6 c, PThanks

, ]! Y/ i) Y, |1 ~6 {% W3 H( N
那些根本係 紙上財富  
; M! W( e6 F2 R: A( J' O" x4 `) k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
9 Y, p/ J) b% K8 ]# i/ R: ^4 c
( b7 P9 V2 U# Nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
; V9 F5 a0 M" g8 H5 ~當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- x( A  ]( ?/ W1 j; 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- w7 `  A8 i6 I1 E9 b/ N1 g
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 X  x  b* R; p7 T- }; m- `9 }4 D扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," x* o3 f: G4 w/ q# V1 ~
計番回報率就已經係50%,所以可以好好賺
  y1 p7 x5 t2 v# j前提係銀行之間要互相信任先可以咁樣借法' g& t6 g: ~$ K$ O& p
同埋個市場既前境要係好先得
' |7 [# J9 M9 q) u* K  w5 n" d( Z% r但當經濟一差,公司估值趺了,物價不升反趺
  v8 y- g/ c: ~  p: b2 C1 I- x: v2 V例如剛才說10蚊的, 趺到得番9蚊,
4 Q/ f0 L( f' c( ~+ s( |咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 G  w/ V' l+ g
所以你就會覺得D錢好似蒸發哂咁
' X6 f& @( o# ~' m' [" t' q0 l5 ^  `8 C) q
你都可以當標野咁諗, 個樣野多人可以狂升值, 7 S+ i. h$ k( t& j2 U. B, E2 ~
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, + V$ B& a; B& w; H* y8 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 S% P1 g9 g, r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- a* C2 S2 |; N$ n' J% b% U' @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
, J& r" T, Q2 N$ q3 s唔係d錢蒸發, 而係比美國佬洗晒未來錢, - B2 y  Q6 l* y1 l
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: W& [% I+ @' c, c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
) O1 }: v9 e  C- O2 J8 r5 F咁你話d錢蒸發左去邊? ...

2 T6 }; q. `4 Y

' j  t$ O5 ?9 f6 l- N正係咁樣
7 v+ J# }5 i& v. G* q" E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
  W' G; M7 o  O+ ^分分鐘佢地唔使還錢
, ~9 C/ b" e6 B8 A; M* {) ~( N4 N# g, k  M, r9 F+ e
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,0 h0 k. v* T/ _1 k3 a' K& u
連國家都係問人借, 不停發債券, 印鈔票
' z- p( r/ H" [% D2 {, p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- o! N: y) p+ }8 u
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.gif7 ^! v- F2 L6 z% m
咁而家"爆哂煲"算唔算先至係變番"正常"???

* \, \( B& L3 w1 s: |
) x3 k% V1 F2 U9 [9 N$ S
其實係...4 N& ^) u) U6 R% i; }# C% c
因為以前未生產, 先消費! q: ^+ K& ]4 X: g- ]
而家就要多生產, 少消費