0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, H2 |; A; e+ X4 G" ?+ OWhy bank will sell 借據給第三者???+ b: Y7 _$ b) |8 g. {
I was so confused.....

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講到尾都係賺錢/ Y8 D" h$ q9 t/ U( h* |9 I
so銀行可以不斷放款$ `# A/ w2 i+ @6 O. S5 l4 ?
美國的房貸問題散佈到全世界
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! w! S5 c* V7 `+ E8 U; s! a/ fmortgage loan , c: i2 U5 C0 q. S6 u1 d+ O0 I8 U
>conduit
% i. z' b4 }. E& h: h# k9 Y>RMBS(Residential Mortgage Backed Securities)
" }1 v9 [: h5 {% B+ S& ]>arranger2 C5 Z9 z8 w* i7 {5 q/ q
>CDO(Collateralized Debt Obligation)) c6 F- {6 E+ [( d4 e& a3 H
最後去到投資者

Kev

i thought it is the reason of rate of return.
: e5 T9 }/ n( }$ w  O3 [CDs could have different ratings, AAA -> F,: q7 W+ C: M2 W, c3 [
more risky ones would have higher premium (interest rate) as a compensation for an investment.) q# D" t; g! o, p$ P( X& U# E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* W. q$ p4 q- K8 e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- o7 H  l9 I7 V; l# S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- e6 x3 h' ^( C1 gsimilar to bonds, CDs trading in the secondary market have different value at different times,
/ p2 t8 x7 e2 F1 t4 E$ t/ ~& cnormally the value is calculated by adding it's principle and interest. 3 i; H6 ?% _, t* d* u% |, Y- c
eg. the value of the mortgage+the interests to be recieved in the future.
& x4 e5 q6 U* B1 E4 Nbanks 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." a1 I. S( v% w
in stock market, it's the demand and supply pushing the price up/downwards.
) Z9 ]; O+ V) eFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 _" N1 t3 |! |3 g  BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- q2 t6 U8 O9 z! L! F5 V1 ^) D2 [
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 j) ?/ f) t& r3 ibut the value of their assets did really drop significantly.6 c6 [; c7 V( v
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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( H# v) J% K; |
Refer to last example,
8 R8 P' K4 N- p) Zthat means bank A have no money because we borrow 10 dollars from bank A - v- E( S; C. K7 T
Because bank A doesnt have enough cash on hand / s6 h& d* w0 X; B9 b# j
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: p5 b7 ~$ H% H9 `' _5 }; mA->B->C->D->E% B! p& r) P& |5 a  c5 N8 y
so does it mean if E failed to pay D, ( {' x+ o6 l* E$ V
all the B,C,D,E have to go bankrupt?, Y$ A% F. y/ ~# q" ^5 K+ Q- s

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% h( D; I5 s2 B; w, {) |2 ~: u4 jthe multiplier just tell how much money created in a whole economy,
# m$ x9 b1 K' t& q5 t8 i1 sin this case it doesnt really matter how much money is created, / R- s' G# b/ ^: X0 @) P
it's the problem of the debt itself.. r5 w7 x; `* b
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.gif2 j& B/ u( h3 g( C& F/ K4 M& Z
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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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0 Z' C& K) ~2 |- _
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Thanks

$ J% W- h$ H+ t1 x那些根本係 紙上財富  
3 _% ]& R) N. d, [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: u/ n% N$ @. ]$ m7 N
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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  {/ I; m% T8 }3 F- d7 b
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* M7 C2 H0 X1 C% |; `: j* s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2 d6 u/ j& T  Y7 ?
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ U" n, ]5 v2 B8 f, I扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: |7 F" p7 z: W- Z
計番回報率就已經係50%,所以可以好好賺
# N0 e3 T3 |0 w- E; F2 ]. t前提係銀行之間要互相信任先可以咁樣借法
9 a3 i$ S% f' u. J4 u同埋個市場既前境要係好先得
3 C7 v5 H, o) W* b" ?: T但當經濟一差,公司估值趺了,物價不升反趺
9 D5 O# I8 Q0 z6 K例如剛才說10蚊的, 趺到得番9蚊,
7 y5 A8 @* p6 {; a4 W咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 s! J  a3 n- U1 D所以你就會覺得D錢好似蒸發哂咁; G) n9 I5 c/ J+ r  C
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你都可以當標野咁諗, 個樣野多人可以狂升值,
* L% y6 U  G8 Y0 C% X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, , Z9 O% U  H$ f' c( R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# @1 _/ ]5 V& a1 Q: G2 l. G0 w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# G+ B+ t7 r7 l, ?
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.gif2 W! a% j) e: U1 j& U. c% ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . I8 ~1 U& b. I4 ]- i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 i; i- v8 @3 Q9 |8 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9 R: `+ V3 \# d+ c
咁你話d錢蒸發左去邊? ...

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" ?" A1 R/ y; }6 r正係咁樣
" i$ l' @% O( ?) ^, Y( [- K. y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( s" \  ]) N5 w! f
分分鐘佢地唔使還錢. r) n3 Z$ e4 D
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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,* w& J9 i) ]9 E3 z7 H
連國家都係問人借, 不停發債券, 印鈔票
; a* @8 J5 u! i& B5 P- _, F! Y一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" M# {/ e; h, g# A' p7 }2 n6 Q) m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
! s4 a" [3 O1 u5 Y5 `咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 {; o. _0 @: o5 c- B2 o其實係...  _: e" @9 q  G
因為以前未生產, 先消費" ?6 j$ \+ R' T" g
而家就要多生產, 少消費