0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 {- W  U- f* T, L; h3 IWhy bank will sell 借據給第三者???
7 L5 c  S# [! F* Y1 R- MI was so confused.....

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講到尾都係賺錢& K* i) r  h( c$ D' y2 B
so銀行可以不斷放款# p4 Q4 x. p  {& K
美國的房貸問題散佈到全世界
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mortgage loan + a# Y& j9 |% U9 d) c7 T) \
>conduit5 ~- ]! W+ L; K* w9 O3 `
>RMBS(Residential Mortgage Backed Securities)" `2 c  b, j( I. q/ Z3 t3 I
>arranger
, D! D" x2 ?6 G% c% ~5 R>CDO(Collateralized Debt Obligation)6 ^6 h2 [9 ]9 a* w' l  ?! K
最後去到投資者

Kev

i thought it is the reason of rate of return.' `, ^; U. ^# g* x& q* k- J
CDs could have different ratings, AAA -> F,( C" X. G$ ]6 t; @: E5 q+ @
more risky ones would have higher premium (interest rate) as a compensation for an investment.& r8 y/ G: m& ~- S3 z/ H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, t* l6 V/ k2 H& C, ]6 q4 v+ L/ \9 cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ Q+ M7 R. O* L, P2 o! mAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 ^& S/ T  S' }9 o. ~4 C. T% ]similar to bonds, CDs trading in the secondary market have different value at different times,
  i3 M$ F$ h+ P) z. f5 gnormally the value is calculated by adding it's principle and interest. ( g. b4 [* ^$ k$ Q& Z
eg. the value of the mortgage+the interests to be recieved in the future.
8 |3 E* w' v1 D9 R$ I) F' [/ Ubanks 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 h! O3 w3 h! i1 V

5 K# U4 b" d/ \im not quite sure if the multiplier effect does really matter in this case.
3 L& x! E- q  X% |) K$ ~in stock market, it's the demand and supply pushing the price up/downwards.- i0 n$ d  Y1 G" H/ ?7 O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ ]8 |* m% U/ n! m& O- VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! @8 H8 Z4 Q# y  jThe 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. 2 C! J( V; z" i# b
but the value of their assets did really drop significantly.  k( R9 X' i" D

6 V  r& X7 U; Q7 \[ 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
0 n- n. H/ n! \( g  z  RRefer to last example,
3 y: Z* V; d, B2 I& ^$ ?; A* @that means bank A have no money because we borrow 10 dollars from bank A 3 \" z  C, B0 ^/ ]7 ]
Because bank A doesnt have enough cash on hand & Q' \" m  S) L- W; ^
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
0 Y! a5 N- L% v% a6 ?( ^/ Bso does it mean if E failed to pay D, 4 h. [; o4 J' r
all the B,C,D,E have to go bankrupt?5 _7 t& B+ Y! _. b
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the multiplier just tell how much money created in a whole economy,
4 b" g3 }* }' z; A' k$ D; Qin this case it doesnt really matter how much money is created,
3 U/ z1 o& ?1 J8 u, ?( jit's the problem of the debt itself.
2 b6 L0 r5 M) \* o5 E* r% 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
, D! y6 p# p" A- P9 Z" N: `8 i1 d小弟一直都唔明...
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& x4 a* C3 l( |0 t  v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...+ ~8 g# s0 ]0 Q6 p# P
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敬請各師兄解答+ M3 D# a# e% m1 u- \
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Thanks

3 C1 _$ ?8 g) E6 D' g2 f那些根本係 紙上財富  
. D4 h6 B, S6 M$ ?( r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: V( S. M, m& z4 L2 w8 l

  }7 s3 @- B: jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 R9 L' K+ h; Z8 F2 R當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" g: ?- f7 {. A; |; B" e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 Q: O/ ?: l0 p+ U, D8 w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ |! D$ I1 E* O8 M扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) y" h3 A& r. g/ k; A+ ?計番回報率就已經係50%,所以可以好好賺
+ B) D  i9 j* A3 R2 g前提係銀行之間要互相信任先可以咁樣借法9 G' \* Z9 q/ a3 y( V" g; q6 r
同埋個市場既前境要係好先得
/ n; ~4 L/ I0 P; u/ }, F) c但當經濟一差,公司估值趺了,物價不升反趺
6 p6 u- C: C$ C* T8 z: T- g* d8 ?例如剛才說10蚊的, 趺到得番9蚊,
' z) n. {* b6 z% C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) M$ r' i+ }) l1 ]
所以你就會覺得D錢好似蒸發哂咁( r1 l* y6 L+ S2 b' w. @+ x6 ^0 i
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你都可以當標野咁諗, 個樣野多人可以狂升值, / _9 m* a; {8 ~# c% b  Q4 s$ s+ H
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 U$ \. _8 f- e# k+ L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- I8 T) V% D/ V: c) E3 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; t) l! k0 `: S4 ?
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
0 A7 ^/ p4 W. H; R7 Z& s唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 _5 l: b! a9 K6 X( Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* Y7 G, |6 I; t, f9 ]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" f$ ]2 D8 v- o$ p9 b, @
咁你話d錢蒸發左去邊? ...

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正係咁樣
% m& _1 c) x% r' t/ {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" i. e; W6 v4 p( q/ {6 D
分分鐘佢地唔使還錢
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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,5 @. r# Q" r3 Q
連國家都係問人借, 不停發債券, 印鈔票3 S& B( k+ ?1 z# Q# j4 t8 m9 S! P. W
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ u+ j) `1 |* R# ~$ t; P8 F# c3 s
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/ Z) V. a6 z- q) D
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...4 V: {  u6 W) p+ H
因為以前未生產, 先消費
3 ^2 W3 `0 O& W  l& m" O而家就要多生產, 少消費