0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: g( _0 m) ^& ?7 c5 S; B; OWhy bank will sell 借據給第三者???
+ j. E1 n$ `2 e& ~  }! T% iI was so confused.....

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講到尾都係賺錢4 z$ i- u. @/ E
so銀行可以不斷放款
1 a) z$ _- f8 M7 ^. _美國的房貸問題散佈到全世界
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1 ^% M* O9 M& D& x$ ^mortgage loan
! R" P. X: ?0 x+ S/ b2 P' ^>conduit( v8 k0 j2 Q% p; p! ~' ?6 T
>RMBS(Residential Mortgage Backed Securities)" a4 L- C. o, L4 l3 @$ ~+ k  q
>arranger
# u6 E- P# J( W, ~$ O>CDO(Collateralized Debt Obligation)( D/ p; U# E- N  l- o
最後去到投資者

Kev

i thought it is the reason of rate of return." `- p% o! i, J) B  n
CDs could have different ratings, AAA -> F,# B$ R& N5 [/ [& F1 [
more risky ones would have higher premium (interest rate) as a compensation for an investment.
* J" R5 d9 W' {8 O: P/ dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  m- \& G/ @' r  L, \2 ~5 i4 [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- _3 {0 W" [9 M. N* ^' ?! y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  [& o$ w, q6 p: }0 g% W; m
similar to bonds, CDs trading in the secondary market have different value at different times,
( g7 R, @. p8 N& ynormally the value is calculated by adding it's principle and interest. * ?& T6 j( D: H! g
eg. the value of the mortgage+the interests to be recieved in the future.
; q- c6 t  m4 f% m/ ?0 T4 U! o$ ~2 mbanks 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.) |6 A& O9 e4 k3 Z1 ^+ C

  D+ B* {7 _% q2 s- o8 a! e! z! o: J" ?im not quite sure if the multiplier effect does really matter in this case.
( Q3 }4 I2 g& V5 qin stock market, it's the demand and supply pushing the price up/downwards.
" P5 z9 I4 k" Z" d1 ]: I0 UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ c6 I8 m: l+ |- v3 `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, b' _) Z# z+ E8 q$ OThe 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. $ e0 ]1 v0 M" P( V: x3 s% L
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; x, D4 C; L% ~7 u$ \5 n
Refer to last example,
* l7 k$ M& C4 N+ W6 Zthat means bank A have no money because we borrow 10 dollars from bank A
5 h, c5 W+ K7 T; ?( D4 r5 U" EBecause bank A doesnt have enough cash on hand , C" E7 V/ |) R3 z. R4 K4 E. x3 C
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 K8 m  F9 q: ?A->B->C->D->E9 j  X' K/ y- k/ {( J1 X
so does it mean if E failed to pay D, ! h0 x6 p% m7 t6 [3 |
all the B,C,D,E have to go bankrupt?# K& R/ ?8 U: @  M9 f4 `. n) b
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the multiplier just tell how much money created in a whole economy,
7 Z. F' Q- w! U. Uin this case it doesnt really matter how much money is created, # _, P9 B# g/ n! A9 L# H
it's the problem of the debt itself." M% V& }3 ~4 H& w3 ^4 H3 O
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/ M. ?& _! C8 B6 C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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1 E, ?( W: ?+ C% d  {" a, c  Y無可能淨係有人蝕錢無人賺架嘛...
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5 x; {0 @- a3 L7 g3 Q, Z& m: E敬請各師兄解答" v/ q3 N. q7 q4 \1 T- A( ~
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Thanks

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那些根本係 紙上財富  
  Y: B+ ^4 I/ j5 Q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$ N1 h4 D. S8 K2 g1 x5 ~

# J; q' [7 ?& }; t: r& `  qhttp://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- V. {5 }0 T3 ]6 ^7 f
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. i* J6 h: c2 Z# t) m$ f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
% X/ b. s5 i8 r2 @. M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 V4 V9 P% J: }8 O) d, R, v3 W$ H, o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 [# R  y3 O# b9 J6 ~計番回報率就已經係50%,所以可以好好賺
8 B6 `' j6 c. H- A# }; m前提係銀行之間要互相信任先可以咁樣借法# _9 `) l" }0 p! t, Y
同埋個市場既前境要係好先得
6 Z) h+ S5 h! }' u& r* H' f; F' X但當經濟一差,公司估值趺了,物價不升反趺
2 V) X. a) E2 R. c5 {9 v0 x7 n例如剛才說10蚊的, 趺到得番9蚊, ' m" C; E1 n0 V; w
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 K% z( m0 H% ~. i: C
所以你就會覺得D錢好似蒸發哂咁- C: g+ \, G% o

6 o; A- g  V- @" X: Z5 H你都可以當標野咁諗, 個樣野多人可以狂升值, 0 ^: n; K$ C4 W* \  b
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,
1 F0 H5 ?* O/ J, a1 @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, {+ Z7 U; @5 A" c9 M' ?  @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
& v% z. ?* d' ^' _' n3 c) K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; v  p: a8 q8 M: L
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 z) t9 [+ w7 P' O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " j: T* s: @; Q4 ^* ?
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% C( n1 |3 _3 z/ E% p
咁你話d錢蒸發左去邊? ...

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正係咁樣3 `- [6 [$ @5 i5 E4 g) e- a
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+ C9 g2 n! Q$ N# j$ l5 T3 A$ N
分分鐘佢地唔使還錢0 ], q3 R$ {8 I. [

" c0 L9 n' z  X$ r6 M# Y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,
' S# j* D0 `! I& d連國家都係問人借, 不停發債券, 印鈔票
7 A/ ]% r- q5 [2 m8 C. f一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 O/ i* I. {$ p( 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: B  I6 ~8 ]* K6 v/ ?: C1 F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ `% F( {  ]3 j
因為以前未生產, 先消費
+ ~- ]/ d1 {+ k3 ~7 J8 v" f  ]而家就要多生產, 少消費