0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 K0 x3 u4 ^+ ?3 A! QWhy bank will sell 借據給第三者???
. C: O  ?/ `# w, \7 F4 Q' I) O/ o% J+ _4 JI was so confused.....

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6 e8 X( s# B2 c9 T1 a& K講到尾都係賺錢
7 ~; Q! ?- `* W7 g* Z# |2 Eso銀行可以不斷放款  f/ k' s) y$ v4 X; q$ t8 W) X9 N
美國的房貸問題散佈到全世界/ E7 y( F4 \, f. |$ [, n

9 o* |! i+ q( {) s3 J! Q+ y# X8 }4 imortgage loan 3 E& ?3 s1 m1 H0 o+ L
>conduit
* ]3 a: @" A# C1 [" K$ N6 X4 r9 [$ b>RMBS(Residential Mortgage Backed Securities)5 T& v* h2 g& {# J/ P/ @
>arranger+ @3 K- X+ y% I' {- g
>CDO(Collateralized Debt Obligation)
4 @0 ~; @2 |1 h1 k, Y' Y最後去到投資者

Kev

i thought it is the reason of rate of return.2 y1 b/ j, l  R$ [
CDs could have different ratings, AAA -> F,/ \1 J% }6 U) G
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 A/ O8 _% b1 jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ S+ d4 `: c  u$ Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& y% T0 S" }# i' A
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# n# v1 ]" {; \3 j  s, [* Esimilar to bonds, CDs trading in the secondary market have different value at different times,3 V! P7 ?$ ?# l( R
normally the value is calculated by adding it's principle and interest.
) E4 C8 x2 d: m. [eg. the value of the mortgage+the interests to be recieved in the future.
4 Q. N2 @7 {3 E1 _5 w; Rbanks 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.7 ?! t% j' X& _. ?
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im not quite sure if the multiplier effect does really matter in this case.8 u5 W9 R) x' s* E, S9 P- a
in stock market, it's the demand and supply pushing the price up/downwards.
$ K# s8 s% t9 p8 q+ |. uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; \8 v! l' ?" H! p/ N; p
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 k7 b* \. \( k, z( }: f
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. 5 o& @( r: Q+ K# c
but the value of their assets did really drop significantly." q$ ~. G$ s+ r* a3 u* S

' w$ y5 {0 O$ W4 q[ 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- \! R5 h5 ~% l/ [
Refer to last example," y" |2 z$ G: k) d9 z; S3 Q
that means bank A have no money because we borrow 10 dollars from bank A
4 A! S7 q, m4 g( U+ Y0 z: EBecause bank A doesnt have enough cash on hand + h& _- D) j% d+ E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 f9 e- ~' U9 {A->B->C->D->E
9 L7 J5 k* F/ J0 \so does it mean if E failed to pay D, * t8 z& G0 f9 |6 f& t# y
all the B,C,D,E have to go bankrupt?1 O9 O1 F* V" U4 c3 K8 J6 [/ w5 U

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the multiplier just tell how much money created in a whole economy, : H1 m: r. |. u2 T, M
in this case it doesnt really matter how much money is created, ! I0 q- m0 O( L
it's the problem of the debt itself.. U0 ?+ h" m& X
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( }7 ?% Z7 M/ S, @3 B3 B
小弟一直都唔明...
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" ?9 A  K/ u5 p! [  ]: m$ @# D' }全世界都蝕錢，咁邊個賺緊錢呢?- r4 ]- Z" n7 S( Q. O( A
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無可能淨係有人蝕錢無人賺架嘛...
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* h8 A6 f& [- Z! `敬請各師兄解答
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Thanks

; F$ V7 T3 n: ^8 ^! Y! O' k5 l那些根本係 紙上財富  & x/ J  U4 h" Q  K; d! h
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 graphic9 E6 Q9 `3 \4 Q4 s9 J

' l$ u: z; {( k: ~, Y: Ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產7 V6 ]5 M! I$ p* d% }! X$ u
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 U$ U$ _+ o8 v( F$ G) [3 S+ X# P
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
0 f% A8 l6 @0 S& ]1 A: S5 E個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' e. y& l$ P, j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ R) n3 K+ m! N) {8 e3 v9 h' S計番回報率就已經係50%,所以可以好好賺
6 U* p' u5 G$ ~# a前提係銀行之間要互相信任先可以咁樣借法
0 l- H# Z1 E- c" A& ~5 ^  k同埋個市場既前境要係好先得
: y. p7 e+ B/ k0 W但當經濟一差,公司估值趺了,物價不升反趺
* z# @' d1 B, I9 W: E. h例如剛才說10蚊的, 趺到得番9蚊, 5 j' |; U6 y' P: q9 {, `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) M; r/ q6 Y) B7 _6 p所以你就會覺得D錢好似蒸發哂咁& C' d( P1 Q. l- G

) v# t# Y% g$ S8 G8 ^& m' |你都可以當標野咁諗, 個樣野多人可以狂升值, 3 k; _& [" K& f  g$ h( W
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, " q: I1 V4 r. K: G$ v5 D8 _5 e; F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 H3 d  y  a, J. [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
9 @/ C& O' x+ u0 j' Y" Y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.gif5 R2 M. i7 Q/ v& I  x3 k
唔係d錢蒸發, 而係比美國佬洗晒未來錢,   `; t( N* P; O0 D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) [5 X7 y' {1 j; q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
) R7 b4 J! ]$ ?, X5 T咁你話d錢蒸發左去邊? ...

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: ?5 {4 Z! B4 P! h正係咁樣
. t; b) h0 |+ z3 n+ `/ R; n8 k- 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$ \3 b/ p% G& s: ^5 ^
分分鐘佢地唔使還錢
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2 `; x7 k; g+ b/ B* H8 q( @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,
; }# ]* g) d1 s" l& o連國家都係問人借, 不停發債券, 印鈔票7 s" |" ]$ a5 {3 g+ ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ |4 z* x/ a, o0 T
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
& ?1 Y2 t. y4 n* R+ }* a咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 O5 w. T3 L8 z" J+ m3 P- j8 @
因為以前未生產, 先消費2 J' ?9 u! Q+ u( J& A
而家就要多生產, 少消費