0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 [3 d" l8 Y5 l' K) k! l, Y# s- jWhy bank will sell 借據給第三者???
' }8 T/ z5 O2 X, d, T0 Q$ _( iI was so confused.....

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$ s; |" ^- K# P7 A講到尾都係賺錢7 S( h  ~! k- _2 x5 q, t
so銀行可以不斷放款, a3 v# a: q& q* [( T
美國的房貸問題散佈到全世界
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6 c% o; {! M' G& w" tmortgage loan / ~0 U' o( \: X: h3 j! m
>conduit
1 J7 _) w6 ~7 W>RMBS(Residential Mortgage Backed Securities)$ [. g1 |, S0 f. v
>arranger: H1 l& a7 w4 s( B4 C. r( ?4 F
>CDO(Collateralized Debt Obligation)- c. ?8 T9 M* t- B
最後去到投資者

Kev

i thought it is the reason of rate of return.
: q' c0 L# v+ i2 uCDs could have different ratings, AAA -> F,
& G( ^1 v" V+ d7 K7 [; zmore risky ones would have higher premium (interest rate) as a compensation for an investment.7 Q) ^7 x8 G  A+ w9 |& c, Z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 ?7 `( \5 _' H* i& _" b7 {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 {# V4 b, U2 Q" EAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 X% r0 s. w* C( ~9 {; Zsimilar to bonds, CDs trading in the secondary market have different value at different times,; S8 d- Y- Z0 W4 `' [5 q6 K9 y2 q$ g# v
normally the value is calculated by adding it's principle and interest.
% i9 X+ T6 P9 [5 m" c# X% o/ zeg. the value of the mortgage+the interests to be recieved in the future. , x  C6 o, ?% y1 p# e) W9 Y
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.' }* [8 L3 `% r( y) z
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im not quite sure if the multiplier effect does really matter in this case.! [: E, F0 z0 g) F& s5 @
in stock market, it's the demand and supply pushing the price up/downwards.
+ B# I/ J! @5 C& K- F6 _6 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( H4 s' r: E. u
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( b' l0 c! w, m  o
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.   U/ {; H( b& @: [- L  f9 N
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
7 H8 `# t1 u" ], t- ~# ~3 s5 BRefer to last example,6 O# p+ [, v5 R7 L# g+ d
that means bank A have no money because we borrow 10 dollars from bank A " m% p  p$ W9 u: k4 j) n
Because bank A doesnt have enough cash on hand
: f8 b  Y5 @! w, ^0 ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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# }0 u( [. M* i. a" r3 C

% ?! H' a  {8 y( v+ KA->B->C->D->E
: l2 h4 L6 y9 g8 _9 H, Dso does it mean if E failed to pay D, 8 D5 l9 B) R+ q! i' j) `! r
all the B,C,D,E have to go bankrupt?
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/ T6 T' Q( ?$ A% m0 m4 Hthe multiplier just tell how much money created in a whole economy, : i! H% M. \$ @' _( w! V
in this case it doesnt really matter how much money is created, ; \5 K% e0 T' g9 x- F) G4 b8 i% U
it's the problem of the debt itself.
( k% j5 r, G0 u5 S6 s6 Q7 Xthe 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.gif8 @1 i2 |* k: P2 J& m
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...1 F/ y% R8 i+ v" O8 A

2 n) `! V" b) [, ^, J敬請各師兄解答: b' {& E: b# `: c- D

0 D) Z& ~3 q0 P2 h  }+ OThanks

' x2 M- z! q& Z" B( }7 [8 d' X那些根本係 紙上財富  
5 V: n( _1 p* g8 |9 V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
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+ x( U6 {; B4 Ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
: a" X. `+ @/ I# ]當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! ^) Q% E9 U: O% A1 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+ @4 E* N: S, G. m% H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% d5 P* ~, f7 G' u6 Y' f0 x; D扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 o8 p1 O( a$ L# s9 E, S計番回報率就已經係50%,所以可以好好賺/ s. H% \+ u8 W6 B2 t
前提係銀行之間要互相信任先可以咁樣借法
! ^8 l. M# L" R2 C7 W, b( e$ J9 C同埋個市場既前境要係好先得. e6 O0 ]( y4 v/ z' x' _+ s
但當經濟一差,公司估值趺了,物價不升反趺6 U7 ]" t; a! e
例如剛才說10蚊的, 趺到得番9蚊,
. m5 ]" H( s( [8 H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 ~6 e# S2 h  r# x( N
所以你就會覺得D錢好似蒸發哂咁; b  J2 B" q) w0 w6 Z

5 {9 W5 B; R" ?9 ?) e, o: p& i你都可以當標野咁諗, 個樣野多人可以狂升值, : g4 l0 |1 v, l# w4 T) F
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, & U( \; o- v/ o( o* N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   I; q; G" D$ A$ k8 B+ Z' 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1 D# l% J' ~$ P  M) t
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
/ Y2 R) {3 R) m& y  K$ g唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' z% {# [5 Z1 d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ c1 S  Z6 U7 }# `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
$ I. S( }0 ?5 v, U  o咁你話d錢蒸發左去邊? ...

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, ?; T) s* @" M7 K4 x9 \2 q/ s6 W正係咁樣9 _" j/ k2 E, y: r. n4 K
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
$ j- r) G5 J, O. G' ^# Y  ~分分鐘佢地唔使還錢& S* S/ }: u. m2 N6 d+ J

: r* q" W: k2 H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,
+ b1 @/ x9 z) t  }% Y( v$ ~連國家都係問人借, 不停發債券, 印鈔票& Q3 d6 N; l! y2 }% b& w2 E' ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- U( S# P) m! c5 H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 n, u6 \- Z, [& M% k3 h8 P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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# r0 P6 h- ~, [4 {$ _其實係...3 A* d, Z* A/ X2 L  ]
因為以前未生產, 先消費
. {% u$ k1 G) L而家就要多生產, 少消費