0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 I, g+ b6 x) q1 M# @$ AWhy bank will sell 借據給第三者???) f: K, V2 S5 Y# h1 p
I was so confused.....

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講到尾都係賺錢
9 k, G% T: S6 Y9 W2 eso銀行可以不斷放款5 f1 Z  x  x7 e* ?
美國的房貸問題散佈到全世界% _1 t0 f1 B3 O( M) x

/ s( {6 W+ x/ L) E  z5 lmortgage loan
/ n# L2 U/ ~3 _' t>conduit
( a7 ?/ R. S  [/ e/ g4 p$ N# o( C$ N>RMBS(Residential Mortgage Backed Securities)' b) N" T/ F9 d7 w6 n0 O& V( q
>arranger8 \" z$ P5 _7 D6 k
>CDO(Collateralized Debt Obligation), ~+ D# \" L3 A* O' z( H. `$ A
最後去到投資者

Kev

i thought it is the reason of rate of return.* ^4 G/ K6 {* F3 L4 l
CDs could have different ratings, AAA -> F,1 K0 d$ K) k4 m
more risky ones would have higher premium (interest rate) as a compensation for an investment., E$ z4 [- R+ [$ y+ c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  `( q. v2 r% A0 s: Q0 k0 p- t4 Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 C+ D9 A5 J2 Q4 D: P8 zAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 a; L1 _- K0 B) V, e. N+ e1 j1 ksimilar to bonds, CDs trading in the secondary market have different value at different times,1 H* D* ~0 C; S& v3 O7 r
normally the value is calculated by adding it's principle and interest.
' K2 q6 H) \' ^3 L2 qeg. the value of the mortgage+the interests to be recieved in the future. / F  }9 O4 k* h) U- g) r
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.
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im not quite sure if the multiplier effect does really matter in this case.. {7 h9 }. ~* o- B5 f1 D
in stock market, it's the demand and supply pushing the price up/downwards.$ L; U! H1 Y3 a( l% ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ r9 b" L5 X* a+ `! c8 f, hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! Q) e0 c4 t' V# R/ V
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.
7 |" {* O, s$ n) ^" k0 h6 \) Mbut the value of their assets did really drop significantly.6 {6 i2 s- R' r! c
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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+ }: m+ Q+ M7 @9 b% i0 ], ]
Refer to last example,$ m2 i7 T) F' o- g0 x" v, g
that means bank A have no money because we borrow 10 dollars from bank A % y1 x1 D# L8 D2 F6 }1 Y2 L( [
Because bank A doesnt have enough cash on hand
1 Y* E& U0 s8 n0 }0 htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ w) {2 k* ~- d& l" L( [- m1 gA->B->C->D->E2 x+ Z8 Y! U# O3 b7 ?
so does it mean if E failed to pay D, / a0 m, \4 [: V; G4 n, i" \& d% v
all the B,C,D,E have to go bankrupt?& ?5 p8 H5 N; p( [' B3 E

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the multiplier just tell how much money created in a whole economy, 0 ~4 z: m- k0 ?
in this case it doesnt really matter how much money is created, & z1 Z( a/ J6 s  D
it's the problem of the debt itself.
3 @4 |  i0 y- m- z0 a- g8 Jthe 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
4 g) m* n0 I- |; l( V: V# a小弟一直都唔明...
5 {+ E% h0 i1 J* {# [) n# R# O  G, {; m! B; u, E& d$ p
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...
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2 w9 `! t: [* F% ~( {* ^敬請各師兄解答
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7 C- O3 R5 r& W' R( z# i6 eThanks

) {5 W. Y3 {5 ]那些根本係 紙上財富  0 K/ C) S) y1 H; g: 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) I* s- \4 y4 m, {

" H' w- ~" T2 G3 B& nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產5 o' p) i( O- \9 w& y) g% S/ H9 C
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; K* t3 X, N8 \7 z) i4 y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
% C0 k+ o* {4 ]3 _個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 F4 q# f  g0 @" }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" p! L5 x3 |( \' p: Z計番回報率就已經係50%,所以可以好好賺
4 r) F* ~% t2 f( \( G- O6 p6 f& o. ?前提係銀行之間要互相信任先可以咁樣借法
  s, l- G3 V. g) W同埋個市場既前境要係好先得, k$ b0 ~( z, c/ f/ f& V
但當經濟一差,公司估值趺了,物價不升反趺
$ j5 \+ Y; A/ r, e+ _例如剛才說10蚊的, 趺到得番9蚊,
: x8 X: n  |2 s+ m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; @1 D; F: _% V所以你就會覺得D錢好似蒸發哂咁
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# l7 d7 M5 l/ \; n, ]你都可以當標野咁諗, 個樣野多人可以狂升值, ' g% a- F  J1 D1 @
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,
1 r. A# i; l8 X* `! o+ g* I) r, o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% k; \3 z( f+ [6 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5 }. C9 E- H; V, E/ i' G- 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
# ^3 f0 F7 @7 P7 z& a0 C% Y7 l/ c+ j% F唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 e3 u$ ~' d1 s) u. x- O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 j1 j! E1 F4 c+ ~  S
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
( h4 c6 q# ~2 `2 ]咁你話d錢蒸發左去邊? ...

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正係咁樣- y0 m1 V2 o8 F' y. T; B5 i
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2 M4 ~$ ?9 b: ^6 z
分分鐘佢地唔使還錢6 Z( E1 b$ l4 \  D) U" w1 E

+ Z  D; f$ X6 ?; Z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,  c3 Z! e' w9 c/ e9 j
連國家都係問人借, 不停發債券, 印鈔票
/ }$ L9 v& `2 @! g5 H; m3 n一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' d& B" R8 ?0 K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
1 Z# ]1 g) }. B# j咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 V6 c- }( m  Y. @0 k其實係...
% U7 M6 c) R% \7 [- t! @" L; p因為以前未生產, 先消費
5 Y- B  g+ p! V& {% S8 A+ c而家就要多生產, 少消費