0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) F) }: i" a6 M# oWhy bank will sell 借據給第三者???
7 r; _9 g( i- C! J+ lI was so confused.....

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講到尾都係賺錢
* T6 i0 L/ c) P" {& l# Gso銀行可以不斷放款6 L: f: n9 j! b1 G. a& q+ R3 z- f
美國的房貸問題散佈到全世界- }& J8 v9 \: Q* S. U

% P  v# E7 r/ Umortgage loan
' P( y. p* m0 |: y4 i2 }>conduit1 w# D6 [! ]- _+ |3 \
>RMBS(Residential Mortgage Backed Securities)
# E( z2 M* ^9 V0 d5 {4 L>arranger. I7 i- d/ W& P" k: r
>CDO(Collateralized Debt Obligation)
6 b) m# l6 m9 i: [) I& }. }+ p最後去到投資者

Kev

i thought it is the reason of rate of return.1 P/ R/ f5 n; L
CDs could have different ratings, AAA -> F,
* i# p( R( b: \4 P$ ~. U: R( L6 imore risky ones would have higher premium (interest rate) as a compensation for an investment.9 v( Z: }( R" `. B7 ^6 o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- E. l9 }' F4 Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( F  z3 u7 v- r3 n+ T/ S# u1 i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., T0 M5 `2 M+ y9 ]9 l/ M
similar to bonds, CDs trading in the secondary market have different value at different times,
* r$ [! c: q! W7 [* c8 d6 {5 onormally the value is calculated by adding it's principle and interest. & _# e( ?6 r+ ^! c+ D) ~& U- D
eg. the value of the mortgage+the interests to be recieved in the future. 2 z7 q2 A  F) A% ?8 K
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.* h, z3 c. j1 S" u- _3 j: p
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im not quite sure if the multiplier effect does really matter in this case.
. O7 W% G. v9 ~! K* e4 x0 uin stock market, it's the demand and supply pushing the price up/downwards.
" {! J' s, X2 N2 _+ SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 a6 Z4 V! E4 c
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) Y* \8 o9 T0 Y" c: t" j1 @
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.
5 v5 R6 d+ F; }; Qbut the value of their assets did really drop significantly.
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! v$ ]3 |# Y. V0 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.gif0 U- h* Y5 J9 h) D
Refer to last example," l- N" b% n* Y+ n2 \9 L
that means bank A have no money because we borrow 10 dollars from bank A
& j& K$ j* |& _9 o- o: {Because bank A doesnt have enough cash on hand
$ c# A* \2 ^  etherefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 {1 a  \0 K* e- r; c) @7 lA->B->C->D->E
# ]9 n2 L4 ~! h/ `) m* eso does it mean if E failed to pay D,
% ?8 x+ Y6 @8 ^9 Qall 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, # v* v9 Y1 N( ^
in this case it doesnt really matter how much money is created,   M! S" c1 T0 p
it's the problem of the debt itself.+ a+ w( L6 g- J6 \) 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( {- k' ?- g+ `; V
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...
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敬請各師兄解答; ?+ N3 D: b$ m: ~( M
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Thanks

4 B1 c6 t( ]3 P, r7 I. j0 r1 l那些根本係 紙上財富  
% C* V" \1 |8 s; U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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3 k: V2 M* a5 E, @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: b) W5 i2 E& o, z. f/ E7 h
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 R: W' O' A- k' t" A4 M8 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
1 s. M7 [0 J4 S" y5 N個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; p# |, H$ S, ~. ]- W1 s% 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( i  h5 M; ^/ ]& u7 ?$ q計番回報率就已經係50%,所以可以好好賺- C. X" {- v' `* `! y
前提係銀行之間要互相信任先可以咁樣借法! x& |: I: Q, X  I+ p7 v
同埋個市場既前境要係好先得5 w( T. Z( M# h5 j
但當經濟一差,公司估值趺了,物價不升反趺
' J9 v. \) D% Z  `& M0 \. A例如剛才說10蚊的, 趺到得番9蚊,
  o& W( x1 H2 i& X9 t0 y: Y- [. T咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( Z( M+ _# u; ^" d1 M; w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,
$ L* M* \3 T% D! k/ H) s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, 0 x) G1 T& [6 t9 X% T: {7 @$ k4 H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" i2 `. ]9 L) z( w7 M' p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$ i2 K3 e( q( F9 \6 Z! m" I! x( q
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) F! w0 J/ H  Q2 B& W, K8 K
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 s% D2 s) y. T2 ^1 s3 V! |/ i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- a, h1 i9 o0 M! n. d. [8 a+ Q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 ?# o. T% v  N咁你話d錢蒸發左去邊? ...

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6 U! }( o2 D( E3 b$ x3 B' ?  F正係咁樣
) n- l$ `; V" Y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7 v. V2 K" O. a2 ?
分分鐘佢地唔使還錢
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4 w( X+ {# s# s% i' k! I6 m' b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,
0 v% h' b8 r4 x" e9 O, D6 h) G連國家都係問人借, 不停發債券, 印鈔票' l) h9 B" a8 b( h9 z# M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ F' O% [. s' S6 R
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
8 r3 ]6 Y' L4 H1 }+ d' ~咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) q' C4 Y0 v! D% u: J! K
因為以前未生產, 先消費/ ~: K0 W3 _9 i% N8 A' s
而家就要多生產, 少消費