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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 `+ J& b* G5 n1 A" B3 D! w- FWhy bank will sell 借據給第三者???& `2 b: {3 [7 M# U; g
I was so confused.....
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4 `* _) j6 T- q, B# c3 ?講到尾都係賺錢7 ]( D- r% o6 K/ r
so銀行可以不斷放款
, p5 }4 n/ u+ B& v美國的房貸問題散佈到全世界
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mortgage loan 4 y& a3 i& d. Q0 ]: Y" X
>conduit
- \% _6 R* \- V3 {  ]6 i>RMBS(Residential Mortgage Backed Securities)
! h( u/ u; o: \  D  C>arranger" J  C! f- N: t' I# e1 y
>CDO(Collateralized Debt Obligation)
7 s2 R& X& q  y' v# x; u7 t最後去到投資者
i thought it is the reason of rate of return.- @  s+ C+ ]7 ]4 b
CDs could have different ratings, AAA -> F,
' d5 W4 m/ L2 cmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ B1 x' Y6 t/ n1 x. hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 f" S3 G# n& F3 X( Y7 t: N7 Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." }2 r% v7 R, n: j
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 w* `  e! q; _0 ysimilar to bonds, CDs trading in the secondary market have different value at different times,4 L( s* C, {9 L( T
normally the value is calculated by adding it's principle and interest. 5 B' v/ V. g  y4 }; m
eg. the value of the mortgage+the interests to be recieved in the future.
/ w  G$ X5 L$ K. j: Gbanks 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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6 w8 q+ ]2 m. @/ Q5 w7 b) B0 Wim not quite sure if the multiplier effect does really matter in this case.
8 a8 d) g* c2 C2 u1 w7 E/ din stock market, it's the demand and supply pushing the price up/downwards.
7 E6 A, H4 Q, D( a& jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. C4 T) |  v. H  i- o, P! S+ o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 u% y. U/ T( W4 Z9 NThe 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. 4 |) c8 V4 T0 [& f0 S- i  N$ q
but the value of their assets did really drop significantly.# q' \; c6 l' T  ^/ f; o
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& {" E6 \0 ^$ c0 X! aRefer to last example,
2 b/ u' h) ?, H2 Ythat means bank A have no money because we borrow 10 dollars from bank A
$ G) |0 o( T8 ^- c# B5 K8 [2 IBecause bank A doesnt have enough cash on hand
% ]5 a- e  Z7 B, A/ J4 |therefore bank A need to be bankrrupt ??? Am I right ?? ...
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+ D: a4 H/ {5 I. j3 h% |A->B->C->D->E
0 D" z& b; P/ {so does it mean if E failed to pay D,
; y  f9 t, `$ E  ?all the B,C,D,E have to go bankrupt?
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) l0 f  Q$ e) j# s' Ithe multiplier just tell how much money created in a whole economy, ; s, a/ y. {$ y7 E8 H+ e" H
in this case it doesnt really matter how much money is created,
( m1 `7 d6 J% X1 ^$ Q0 X$ R$ Mit's the problem of the debt itself.* f' g& o* k. ?( U2 F' f, G
the debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ P# C3 n0 o  @; U7 Y/ @
小弟一直都唔明...8 n9 T0 A) V$ q" C4 ?; {" ^0 R

# \7 _# `4 e  p4 y7 M" x: l全世界都蝕錢,咁邊個賺緊錢呢?- s. `- t& Y, ~6 k# v
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無可能淨係有人蝕錢無人賺架嘛...
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6 n& H$ k$ @. t敬請各師兄解答; j& l8 l# ~# Q1 u8 [. ]

) Y5 R5 h% A" oThanks
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那些根本係 紙上財富  
! `/ y/ J' Z6 P6 E( A% d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
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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7 F" @! M+ E" m4 R9 chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
; m8 A' x% X9 g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 Z2 U  p. |% \9 D- s
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
8 ]7 ~) h; p) d8 ]% g6 `/ U個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: J0 O$ J; 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,% q( m2 U2 F5 P- C* e
計番回報率就已經係50%,所以可以好好賺& v1 h4 o  O' Y4 F# _+ A
前提係銀行之間要互相信任先可以咁樣借法: f/ N/ ^4 H' u( r
同埋個市場既前境要係好先得5 e( W4 Q1 _4 i8 w/ F4 P
但當經濟一差,公司估值趺了,物價不升反趺
4 m3 F& S4 X8 Y: r7 G" s  ?例如剛才說10蚊的, 趺到得番9蚊,
: V$ z$ L1 u: y1 o咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 j! t" o& K1 `" E( f) C所以你就會覺得D錢好似蒸發哂咁$ @0 N, o7 d) |9 G$ k- l& x- _* t
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你都可以當標野咁諗, 個樣野多人可以狂升值, 1 }+ T2 y) I1 @* `/ _
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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% j( c; g" w" h7 W0 i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 q& x: [* H& `, }
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
% B6 [3 g% m, Q$ Y& w, n! ?- E咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" ]6 p; F. K: G, B
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ) {4 P! C0 b) W; \4 |$ z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& d. I8 Z/ Y* {. j1 |9 A6 e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 w% B* ~) f7 Y8 Q* ~* q( X/ S咁你話d錢蒸發左去邊? ...
* |" u& ?, W! }: ]9 H

9 R/ F3 D: a/ e2 l正係咁樣0 j- N# \$ S# h$ |7 P3 v9 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3 o6 }  `7 a: M
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,# S, s  X7 O) f/ k; g% N) p, F
連國家都係問人借, 不停發債券, 印鈔票0 W2 \. n) M4 c& `1 H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 _: F9 y  \4 o- p# I# h9 E
編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif' i( D6 w9 I( w4 @
咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係.../ B' W% A0 e1 o3 t
因為以前未生產, 先消費
% w4 b6 U/ y5 x而家就要多生產, 少消費
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