0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& r9 d1 z+ `7 {( R1 |Why bank will sell 借據給第三者???
8 H2 I6 D) j( d. TI was so confused.....

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9 r) u# N, @' K講到尾都係賺錢1 t5 y7 K1 q6 u3 @8 t/ K
so銀行可以不斷放款& l  ^2 e& v; k" M
美國的房貸問題散佈到全世界
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mortgage loan % y( \* w7 q/ N9 i
>conduit
2 A: z- L$ Y5 C8 z>RMBS(Residential Mortgage Backed Securities)6 z3 w3 Y! j8 C# J
>arranger; b9 |* {: w$ H; a+ x
>CDO(Collateralized Debt Obligation)3 q9 D* ]% t- o
最後去到投資者

Kev

i thought it is the reason of rate of return., P+ ~" ]; F& s0 n
CDs could have different ratings, AAA -> F,, U/ x' v5 |; f% J. p5 x  X2 Q2 Q  X
more risky ones would have higher premium (interest rate) as a compensation for an investment.; H  u2 ?$ J, D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, T( ?' r$ \, j2 p9 }in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: W3 f% |* ~$ m4 {; R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 O. K! L+ @) V% w, f) m
similar to bonds, CDs trading in the secondary market have different value at different times,( K: g3 F2 M) G* g- n
normally the value is calculated by adding it's principle and interest. 5 T/ e; w, O4 ?4 r( G- l
eg. the value of the mortgage+the interests to be recieved in the future. 3 u3 W6 Q* f8 @* Y. w
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.: Q+ W$ t7 o! ?; n2 ]: u

! E& P+ K: C$ o2 Fim not quite sure if the multiplier effect does really matter in this case.
. r1 {4 h' i0 \* o" p8 b8 N4 Lin stock market, it's the demand and supply pushing the price up/downwards.# B" G! Q. k2 _4 w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- G( H( \# W# E6 @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 L* n# L7 \- R. hThe 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.
  Z+ u- ^' D  l5 N4 Xbut the value of their assets did really drop significantly.% W# s. _! z. ^0 B* C

8 v5 Z5 Y4 d1 O  P6 S[ 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.gif5 R0 Y. \# D: X7 D" m
Refer to last example,, L6 `6 E4 h* L$ q
that means bank A have no money because we borrow 10 dollars from bank A
& N" H( u6 E+ T6 j, xBecause bank A doesnt have enough cash on hand
2 u' t9 k8 O$ }% c# T( ~  v# \therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
* B: }1 x5 c1 P# R  z* ]' Iso does it mean if E failed to pay D, 5 I: `9 J6 l# C, R
all the B,C,D,E have to go bankrupt?' w! I4 d+ V, N4 Y, P  B& V  T
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the multiplier just tell how much money created in a whole economy,
* K$ r- O5 j1 `0 b2 X& x+ Oin this case it doesnt really matter how much money is created, 3 `# q7 {6 W2 Y% ?! i2 @
it's the problem of the debt itself.$ D' n; C: |+ g* K5 s1 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.gif
" `5 ^% ?% ]! j) C( W小弟一直都唔明...
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7 f' E1 ~, p: S4 X3 [6 R) K" b全世界都蝕錢，咁邊個賺緊錢呢?  Y( t# N! d' I

% F& `- t* l$ Z1 y" U6 [  \% F無可能淨係有人蝕錢無人賺架嘛...
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+ w( [( }! J# M敬請各師兄解答9 ]5 |* _8 {* j) A2 h

. Z2 O' q, D1 r* Z9 p7 Z- |Thanks

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那些根本係 紙上財富  ( K8 G4 l1 b3 @. h* ]- R  Z& s4 p
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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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
9 {& ^) Z1 h- {5 R& }, s, E' v當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, l. i0 A* Z9 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9 d7 C) o" ]$ a8 B
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: r7 W+ _5 W+ p
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' x* N6 L' q+ @& a' ^. P
計番回報率就已經係50%,所以可以好好賺
+ F* r6 z  v4 s. R! h6 e前提係銀行之間要互相信任先可以咁樣借法
/ n% J2 q( N4 b6 M- C同埋個市場既前境要係好先得# \% v0 N, x! Q1 \
但當經濟一差,公司估值趺了,物價不升反趺
4 x/ `4 M" x; D/ F& U( B例如剛才說10蚊的, 趺到得番9蚊,
) X, K2 t- Z; ^" ^咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# m" P9 C) N9 @: k* g所以你就會覺得D錢好似蒸發哂咁( p( Q6 y3 `% l1 g
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你都可以當標野咁諗, 個樣野多人可以狂升值,
' q: i: n& ^$ i' T! y. j6 j$ d0 t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,
4 R5 K4 B3 p) V' Z4 E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # K: c- z& n3 T" Z, 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
: C" @9 U8 c  a+ R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 K$ u! W5 m; |3 Z: s/ N唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 z1 [1 t+ A5 `- L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 C; u. k8 G/ f' o% 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" }6 x5 d9 _) _* F- L+ o
咁你話d錢蒸發左去邊? ...

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* S( X' B- D! ]* @( Y0 O& l. _正係咁樣
. e) {' N$ S1 G% ?! J% `1 s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
  U1 z+ J$ F1 q+ G+ Q; ?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," r9 O8 B5 l$ U0 w4 t  s/ r$ a
連國家都係問人借, 不停發債券, 印鈔票2 ]* u1 p: a& f6 M3 R
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 }4 ~9 R8 K$ }+ R- z
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- c0 y3 t+ ~& y& S* ^
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
: K3 T- d. R" T5 L因為以前未生產, 先消費9 ~( {% f; w* Q, l% v
而家就要多生產, 少消費