0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- A" L/ H7 X# a( T+ }
Why bank will sell 借據給第三者???: w& d; @1 _$ G( S" J
I was so confused.....

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講到尾都係賺錢. ]& k# W' N* N2 a4 A- d
so銀行可以不斷放款6 m9 k# J0 ~2 m9 U1 b/ @
美國的房貸問題散佈到全世界
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mortgage loan
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( Y  C4 g5 L  q+ ?>RMBS(Residential Mortgage Backed Securities)1 ]( O9 J* d1 Z! Q7 t( I3 E2 q
>arranger; |: p: \9 ?( ~/ L; i- I* @4 ]
>CDO(Collateralized Debt Obligation)( @! r" ]7 f6 J& ~0 x
最後去到投資者

Kev

i thought it is the reason of rate of return.
) c) s' U0 k0 j2 V$ |0 l+ uCDs could have different ratings, AAA -> F,
& [" ]2 k1 P! x: K$ omore risky ones would have higher premium (interest rate) as a compensation for an investment.- }$ g/ H6 Y2 W" l& _2 m9 x" F* D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: t; t- {. J% M( I/ T% Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& r3 v0 n6 \( u. W6 g7 G/ ~8 }Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# L0 l# f6 J+ e5 H& }% X7 I/ W
similar to bonds, CDs trading in the secondary market have different value at different times,
& X) A7 {* y  _8 a* W/ E5 ]normally the value is calculated by adding it's principle and interest. ' j+ ^' a: v! M$ L0 o4 N8 S
eg. the value of the mortgage+the interests to be recieved in the future.
7 m+ }# w& v: D  Sbanks 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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im not quite sure if the multiplier effect does really matter in this case.
! B5 d7 T0 K$ Pin stock market, it's the demand and supply pushing the price up/downwards." Q, O8 h  A* F' l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 a' v, C0 L0 O) r1 `$ aA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ i8 y* @9 a+ c3 A4 A9 Z4 d2 w
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.
% P( ~' @5 j" l# N( qbut the value of their assets did really drop significantly." F  a4 `- D% U. N4 ^$ I

/ g0 v/ k, q  P. O' }' ]0 C3 e: q5 l2 H$ 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
  N* f4 [; ?- g3 n/ E; @Refer to last example,6 \- A3 z* g7 b6 l2 O
that means bank A have no money because we borrow 10 dollars from bank A
1 G  y# t# l! [3 mBecause bank A doesnt have enough cash on hand ( i, c. O2 i  E0 l8 {- ~
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# B$ e9 H3 N6 Q8 ZA->B->C->D->E
; C' f% q4 {+ D) D, v  sso does it mean if E failed to pay D, , E2 l& l1 l  g- ~& d
all the B,C,D,E have to go bankrupt?, A! L& W% I2 h) N; j
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the multiplier just tell how much money created in a whole economy, % V3 {8 [: w$ F' s
in this case it doesnt really matter how much money is created, ) c5 i* \6 k; H/ }; ]* g5 y% F: G
it's the problem of the debt itself.8 a: w/ k8 r* ]/ d0 j
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' i/ v9 |/ Q' w# v# J' }/ \
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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4 U, g5 K1 V; L7 l* d無可能淨係有人蝕錢無人賺架嘛...2 V# I% q+ T+ u0 C; `  d

) M, h) z" Y' z# L& m敬請各師兄解答
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; g# M) M9 J& e* [1 P; Z* e, a5 `Thanks

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那些根本係 紙上財富  
7 V. v: K% z! P6 B$ E% u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) r1 Z' r! F) o
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http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! ^  P+ O8 _7 @2 b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 u# v1 ]8 l6 O1 B% E% Y
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$ S/ S, H! t4 U7 e9 S3 l) N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ z) @  q3 G' E5 h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& r4 E, {1 a* z" j計番回報率就已經係50%,所以可以好好賺
4 O  B$ N! [7 o, r3 r' s前提係銀行之間要互相信任先可以咁樣借法
' @% K& }9 w, C( z同埋個市場既前境要係好先得* A. t. D+ n4 [4 H7 X
但當經濟一差,公司估值趺了,物價不升反趺7 r+ {$ S+ i" z0 H' R
例如剛才說10蚊的, 趺到得番9蚊,
1 Z5 b7 H" ^. _& F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ O* d, ^0 b' \  r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, 4 L" v- Y) a. @1 m7 {  C" L
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, - m0 J. }# n5 \& p% O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 j* P7 U" H. b" Y3 I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- J+ m: B7 C$ e: z+ @0 w! m& |7 N
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" Y! {: R) x7 `+ b) w6 s& E, g
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * j( Y6 ~6 L' K5 F; i( J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# G/ ]+ j/ y6 n; ]/ t  X* N' o$ u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' a2 G5 \% C% J! d( w7 w$ h
咁你話d錢蒸發左去邊? ...

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6 P3 [7 }" I( _% G# g正係咁樣
" t7 E+ s1 t, g" Y! V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4 Q7 ^1 [, I6 B
分分鐘佢地唔使還錢, j! x5 c) }% g

4 U+ `( k9 J% }/ b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,
7 `! H/ y, V1 d連國家都係問人借, 不停發債券, 印鈔票$ g. z& T" r6 i0 A0 f) K6 U+ X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  H" ~# @: z7 t4 @; P
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& Y$ Y0 q- C6 i( E/ e' g6 v5 U
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
5 v, d) Q: _7 \- f因為以前未生產, 先消費. B/ @  d6 s# Q# h" Q
而家就要多生產, 少消費