0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' y; N- P& y5 e5 o" I+ {* B  L9 c3 m
Why bank will sell 借據給第三者???
/ i( u$ g- X- z2 X2 O- P' uI was so confused.....

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3 N- n8 i  O# b講到尾都係賺錢
6 Y2 H0 r  \% @. Iso銀行可以不斷放款
4 M. w. ]  x* o2 N' W/ j美國的房貸問題散佈到全世界' r' B7 `, f- R9 O  ]
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mortgage loan 5 E& l3 A" O* `4 W
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>RMBS(Residential Mortgage Backed Securities)
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1 o8 f. m" v& U: z9 Z>CDO(Collateralized Debt Obligation)% W% v) C, J% M) f% z7 ~  z+ P
最後去到投資者

Kev

i thought it is the reason of rate of return.
4 T, t* X! b) N# q3 E& A3 S8 X) ^CDs could have different ratings, AAA -> F,
5 q; B" E1 c: `9 o) Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
  r& G& Y% V$ \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& u8 z8 T; ?: yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! {( I$ h0 L( @( dAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* O& o5 W4 E' X% e0 x5 P
similar to bonds, CDs trading in the secondary market have different value at different times,
( o+ P/ P) Y! L9 b2 S# Ynormally the value is calculated by adding it's principle and interest. 9 a3 X! G+ r# c& G; e
eg. the value of the mortgage+the interests to be recieved in the future.
* {  V# f9 W! R: X+ L* Rbanks 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.+ [# S& q5 Z" s1 I6 R3 s

* o; o# a& R0 o& Iim not quite sure if the multiplier effect does really matter in this case.2 f! U0 V4 c& i4 G9 l
in stock market, it's the demand and supply pushing the price up/downwards.
( G7 C. H, I9 `2 n: \1 e6 cFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," r8 Z) z0 R4 B: [9 ^
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ `( k- K& Z6 R
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.
9 m) F$ d' x! g" Ibut the value of their assets did really drop significantly.- x4 P5 m& F0 J$ I* ^7 n# r
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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.gif2 S. r+ d! T8 k
Refer to last example,
8 ~5 V: `: W0 k: {; z8 Fthat means bank A have no money because we borrow 10 dollars from bank A
: G2 z+ k0 R) kBecause bank A doesnt have enough cash on hand % Z8 E2 U" i& t! e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E" m. a- F# A7 i+ S; M
so does it mean if E failed to pay D,   _  E3 F0 s5 P, V$ [  `* a
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
0 g8 ?3 W; }0 J6 {" V  Cin this case it doesnt really matter how much money is created, 8 G# ]* \- o9 @' Q! g" Y& \  ^
it's the problem of the debt itself.* Q5 t3 R/ O" i% |$ [  q
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
9 K: ]+ W, \: C, V) R小弟一直都唔明...0 J# T7 X" p2 Q' g. b* W. f. n
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全世界都蝕錢，咁邊個賺緊錢呢?2 [* j6 `" \) ]+ ^# z5 {% _
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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7 H, G+ K4 t8 o% m. w& w9 iThanks

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那些根本係 紙上財富  0 q; }  x, \# l, [# S( p; n
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 graphic3 z7 w0 N. ?6 y3 s! x" @* s6 n
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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
1 Z2 Q* O, m7 K2 h* K* f當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 K! S4 y" M+ c. g' F( C+ P9 P% \$ U
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 L8 B" |; |8 T" M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) C. }  Y3 o4 S# w1 x# n$ S  |扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( _! ~8 N7 i3 v. p" G. w9 a) \/ a計番回報率就已經係50%,所以可以好好賺
  b% M' U+ L  D3 h8 }前提係銀行之間要互相信任先可以咁樣借法
3 f$ t: H$ b; W7 _同埋個市場既前境要係好先得
8 A& K0 n' ]/ D- p但當經濟一差,公司估值趺了,物價不升反趺4 z7 g/ X8 B, X$ |+ Z3 |) R; ]5 i
例如剛才說10蚊的, 趺到得番9蚊, % s- F) x1 [4 S/ [& w3 Q
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ g$ V1 M3 A0 {* p
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, / p4 Q& g  G8 E/ j
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, & Z. @% \' s, q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 H+ ]  }9 ?4 Z3 ]7 {" `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
4 P0 \1 i+ ~" b; u1 r6 ?2 b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.gif6 f. p( m+ C2 \& g9 S. P3 K, c
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # a3 S4 T9 q, t, P# l2 _% K! l
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( l/ n0 B9 ^$ i0 _/ ^8 X6 F/ k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- }2 v7 _+ z  @) j  D) h
咁你話d錢蒸發左去邊? ...

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正係咁樣, v9 _  H# Z9 k- J
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
# A; r7 n: I+ s/ q* I' I. X分分鐘佢地唔使還錢5 |3 ^+ Q+ r4 }' u( t

3 K. [2 P& f( q, G9 N9 `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,/ y6 g, @' k* H4 ~0 m& F8 E. C& L7 i
連國家都係問人借, 不停發債券, 印鈔票% p- G3 Z1 R& ~9 n
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 j1 R- t3 t8 d) f! k2 ~/ e. T0 O
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) q' ^  ?5 W6 w3 `' U
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ i# i1 O  i) A. R9 t
因為以前未生產, 先消費7 e0 k1 W. n: ?+ |' }  g/ ~1 I9 [
而家就要多生產, 少消費