0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ ]) o9 _- N9 ]# j# f
Why bank will sell 借據給第三者???4 ]8 Z9 M; X, |! f
I was so confused.....

3 ?+ F0 d% w& Y% p

, @1 ^; J5 T3 [! J1 b; P2 F1 {3 m講到尾都係賺錢, x1 l) @9 {! {' E
so銀行可以不斷放款& A+ C5 I6 w& {; l
美國的房貸問題散佈到全世界
, v! y; k! t  Q/ M: m4 e6 O4 C3 L- f/ O, H: [  b
mortgage loan . w0 {1 D" O, }* D  d1 o
>conduit2 M) s7 ?) @& i( X7 M/ r
>RMBS(Residential Mortgage Backed Securities)  c3 c" t% T. ]% K& e; r. y
>arranger
. b6 `* b/ v- g/ `7 B>CDO(Collateralized Debt Obligation)3 o  ]' m; o0 m- q2 G/ H+ f9 h* A
最後去到投資者

Kev

i thought it is the reason of rate of return." e4 ^* B4 L! u* B+ X
CDs could have different ratings, AAA -> F,
- o* I' v3 @9 O8 p& vmore risky ones would have higher premium (interest rate) as a compensation for an investment.0 u2 ^1 v0 m! @3 E: t* c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- N9 x! |  _6 u: ~, d- A# L- jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" N; Q2 L: j) `8 o  J0 i, HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 @' w8 b( [- K. u9 isimilar to bonds, CDs trading in the secondary market have different value at different times,
* i7 K7 v( C( F' k! Lnormally the value is calculated by adding it's principle and interest. ; L, H( K/ _' n" b
eg. the value of the mortgage+the interests to be recieved in the future.
3 ?( v7 P, z1 t' @0 v+ C/ ~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.3 ?. i1 p5 n! j% ^. V% A
+ G2 o4 U) O# e3 a
im not quite sure if the multiplier effect does really matter in this case.3 o2 k; i7 g) a1 b% A
in stock market, it's the demand and supply pushing the price up/downwards.1 F/ A6 N7 L& Z% q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, d& \5 E8 z: m0 n
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# O# V' j# F( o" }. D
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.
+ k8 p3 J; o6 W; j. `but the value of their assets did really drop significantly.2 ]: p9 Y1 V  A9 ?: z' @
) `; Q9 U& y) G, K5 A. Y
[ 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
9 N# h. {! e( X. M; iRefer to last example,
+ u# _4 ?( E: V6 s5 S2 [& m  |that means bank A have no money because we borrow 10 dollars from bank A
: p4 C  k  m$ o1 b. u; b( cBecause bank A doesnt have enough cash on hand 0 U2 V+ W1 m6 R# y7 o" {" X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

" B; h* ]& `- j+ D9 V, E$ u3 X

  l# d4 }2 b3 W9 m. J8 c: H
: _. v5 Z& _) @' @5 z+ R$ U# _( `A->B->C->D->E0 Q$ q( G# M0 [7 I; _
so does it mean if E failed to pay D,
2 t2 B. g5 R7 y& `7 oall the B,C,D,E have to go bankrupt?
# n: `: @5 N6 V" t  ~# d3 ~2 O9 [/ R" u' c
+ J( X# u  D2 ]5 m
the multiplier just tell how much money created in a whole economy, # c9 ~% O8 E2 W9 l5 d3 c4 k
in this case it doesnt really matter how much money is created, 3 {' h/ }4 d# C8 s
it's the problem of the debt itself.
; v4 `2 c! V0 V9 [- Z% Mthe 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( x8 Q3 j4 e' S. S
小弟一直都唔明...2 h) s" s8 d8 s8 a1 y* k
2 f( N! v) O& F" _! m, a- X
全世界都蝕錢，咁邊個賺緊錢呢?
2 F3 c0 F/ W: j1 `7 r- D! X
' I8 {& \1 {+ T; `/ G; v無可能淨係有人蝕錢無人賺架嘛.... g& d9 A2 r7 ~( f& D3 b) P
7 |/ n) |9 `) l" p
敬請各師兄解答! ?' U4 B3 m1 M
5 F6 Q+ `; W  O/ H7 F& g
Thanks

8 s- q$ E5 F' s- H6 y* K那些根本係 紙上財富  # H3 S& w7 I, A1 A1 n" ~$ U  W
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) y. |6 l0 Y% e$ K0 ?5 Y
! p' b! N' @/ U$ Q, k+ O
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& u: B, u$ o0 b: k* `
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ Y: |4 O% g, \2 E; h- w$ L
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 ^" Y* H0 w- E" N9 ?) x個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" T$ W  l! l7 }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 T7 |/ D0 G7 f4 [" G& X
計番回報率就已經係50%,所以可以好好賺, G& e3 T) ^6 P: g4 [
前提係銀行之間要互相信任先可以咁樣借法
# o& H8 u  i3 k% r同埋個市場既前境要係好先得
1 G* n+ k' U. a+ j8 P& U+ w但當經濟一差,公司估值趺了,物價不升反趺  b; d' l' V  U7 @
例如剛才說10蚊的, 趺到得番9蚊, % d* s# H! a* o, o1 d* ^# _, k! f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, Y6 N, S3 ]$ l2 C# D: I所以你就會覺得D錢好似蒸發哂咁% w, _$ B  {! p7 }. k
- U, k* L3 M$ y3 R
你都可以當標野咁諗, 個樣野多人可以狂升值,
. W& ]. p9 u! D4 ~) s9 y; q' I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,
9 n2 t* u$ X$ H* x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& n) F# Q9 k4 E2 E8 J$ I# n# L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
% y/ D2 I1 s! S* Z% W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
/ x% t9 @8 ~5 x% T2 f4 K唔係d錢蒸發, 而係比美國佬洗晒未來錢, / g8 A7 u2 @' M4 v/ c& u. Z, b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ U* ~% I* k0 u0 w) v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
+ E- F( h" a' G8 M. @咁你話d錢蒸發左去邊? ...

4 q' }- t) R- Z

5 h8 y# {& }; u# y$ \% U) ?! a正係咁樣
. ?% {% c0 m0 x0 m+ x3 C* D) G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' U; F; E' Z5 W0 e! o2 W6 v+ c" K
分分鐘佢地唔使還錢
- U; w' d5 L" T$ Q* F7 Y( M, c# T2 ^5 `& K
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,6 t( |8 c2 i! x, b2 B( |" G
連國家都係問人借, 不停發債券, 印鈔票9 B( g& n. R" f: y3 {3 Z
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ i8 C# ?# Y$ }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.gif1 e. V# V( R; O% m5 Q; v! C) H
咁而家"爆哂煲"算唔算先至係變番"正常"???

. ~5 A0 [5 G7 e: {, f) n
4 e' g9 C% s7 M" E4 R, J, j其實係...
9 m2 b+ q( Q$ X/ h1 N3 v1 }因為以前未生產, 先消費4 a8 Q# B5 \! F) ?# @8 a4 Z* H
而家就要多生產, 少消費