0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" U/ y* W' T+ g5 e: \+ {% ?Why bank will sell 借據給第三者???
. b% _+ F' ?- v: ]0 g/ n7 M# [I was so confused.....

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. m) M; U% i  d' z講到尾都係賺錢% M! _# Z) R3 ]* s( b# e
so銀行可以不斷放款
( u% Q, y4 P1 x% s/ ^7 t( ]美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)* K8 [5 l4 O* I# W
最後去到投資者

Kev

i thought it is the reason of rate of return.
6 h$ z7 D! M2 v' X$ k$ YCDs could have different ratings, AAA -> F,
: k: Y4 t6 L# L2 {1 C' q7 f( \more risky ones would have higher premium (interest rate) as a compensation for an investment.9 A# w' k) @/ z( q3 ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) o& S# M2 v( F" t% x/ u+ ~7 u/ x6 Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 Q* U% o5 ^! U4 q$ B7 h. f
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' {7 L3 T$ s- x% }
similar to bonds, CDs trading in the secondary market have different value at different times,4 C$ w9 f2 S2 }) q
normally the value is calculated by adding it's principle and interest. " _8 Y3 r( J8 c1 T9 k
eg. the value of the mortgage+the interests to be recieved in the future.
( J: F, i# V3 L% t6 |/ `. b+ P' B" jbanks 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.. O8 R! h3 S  `& Z

; R9 c" B/ g) L8 V6 mim not quite sure if the multiplier effect does really matter in this case.
$ S4 M4 r4 _4 i5 r% o$ Q) u2 N$ [in stock market, it's the demand and supply pushing the price up/downwards.5 J5 W$ `# ^6 g# ]* [( I
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 z5 J% W) k( N1 X2 x
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 ~, c' r7 R, V8 a- t0 x$ G
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.
/ _) f$ A6 K/ a3 Zbut the value of their assets did really drop significantly.
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9 y/ @7 u4 F2 N[ 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 q; d8 V; u9 N" {) `+ F
Refer to last example,
# p7 H! z2 I& J3 l( r6 A1 _that means bank A have no money because we borrow 10 dollars from bank A : o1 K& `$ ]0 `
Because bank A doesnt have enough cash on hand
7 g/ W2 B  p' M8 j' ~7 f2 Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  |* G& ?8 y8 D* Q) wA->B->C->D->E
5 X% c/ Q* C2 n, c- Aso does it mean if E failed to pay D, ; L9 m3 F9 l& z9 w! Y9 E! S
all the B,C,D,E have to go bankrupt?/ I( n2 H7 c8 x/ _7 p3 ~% }

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3 l4 S* b* c$ q% D* U, ^the multiplier just tell how much money created in a whole economy,
7 F0 H2 X; I$ ^) f5 H) @( e; Rin this case it doesnt really matter how much money is created, 6 |' Q9 T; }& b2 t( t4 m
it's the problem of the debt itself.3 H$ ^7 V+ e" ]# W! F
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+ ]: E, ]; T, \5 N8 y% V
小弟一直都唔明...) N- P/ P" Z  {* K% P5 `( ^

% @# K* T8 Q* {- s( T7 E6 O全世界都蝕錢，咁邊個賺緊錢呢?0 E1 {) B7 J' j: n

8 C# ]% j5 I/ [* E無可能淨係有人蝕錢無人賺架嘛...
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1 s+ Z3 ?% @6 {4 c0 k# g敬請各師兄解答
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# _4 @2 X8 [# D4 u! wThanks

# [& d$ K! {3 r; V3 c那些根本係 紙上財富  9 o5 P) j" x6 A, W$ Q  ~- \4 R
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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$ B3 {: j; _% @" E. k$ q0 xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 w  q4 m3 _1 c% H, y& a: X3 ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, v  s: {; X0 G
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 S3 K) ]4 r$ e) e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; e: ]1 Y$ j0 m/ z- l+ _! W扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 S) }* ~4 D( y1 ~$ X; p$ C: `
計番回報率就已經係50%,所以可以好好賺; b, d: h$ e1 i
前提係銀行之間要互相信任先可以咁樣借法
, B' N$ Y3 m6 M' d8 @6 `' K& }同埋個市場既前境要係好先得9 u. r$ o5 o! |7 ?0 X
但當經濟一差,公司估值趺了,物價不升反趺4 Y' ], A, o) x9 N7 Q/ x1 S! e
例如剛才說10蚊的, 趺到得番9蚊,
- e. ~/ ?( H! Z5 Q8 J9 \+ }咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) T$ @0 a% z; t& T$ ^# g8 \2 l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,
1 N2 ?8 i* \0 I* ^  f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,
( s! C0 {+ B1 d8 P淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * ~" j. q! H3 o5 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
3 |& p8 E% }. v; \& u/ O! G& p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
5 R$ ?% n! t+ g4 c, X唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ x$ f) t' y; H$ g: H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , D; L+ r% x4 M
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
8 Z* ?- l6 }/ t! X" Y( u+ Y+ C$ w咁你話d錢蒸發左去邊? ...

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9 d0 H) W& \) z8 N* {, Z6 o# _% u正係咁樣
  L, k8 J) v! i% Y& x$ 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
/ R* {- Q9 c# X, M, h6 K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,
3 p* a9 p5 P9 c9 m連國家都係問人借, 不停發債券, 印鈔票
& q. ]' U4 U: z' c# Q5 D6 V' {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 j- r% S# g0 m4 M7 B9 z. 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
1 c/ p6 {% c" S( Q" Z5 ~/ ~咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 J+ j) g4 r4 O5 U, D3 k0 ^其實係...5 q/ I8 S7 Y! K4 I7 ^/ M2 f6 F) k
因為以前未生產, 先消費( Y  j" X5 f; K6 A; s5 \) \+ g1 \
而家就要多生產, 少消費