0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# a2 U; l6 c2 n" N/ y0 |; B+ D$ b
Why bank will sell 借據給第三者???
2 B$ j% `  Z* X1 V- xI was so confused.....

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講到尾都係賺錢
$ u; N1 M$ i! L3 J  b5 y, \- hso銀行可以不斷放款
, d0 A, A# v) y/ ^* k. s% }美國的房貸問題散佈到全世界& n2 s  {9 l1 t
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities), S7 t& h% X! D# w$ p6 T
>arranger
& d! o+ ~2 g; R3 P" |>CDO(Collateralized Debt Obligation)
( ~' ?( K/ Z) \最後去到投資者

Kev

i thought it is the reason of rate of return.$ Z3 s3 T5 s5 `4 Z4 E) J) g  I2 h
CDs could have different ratings, AAA -> F,/ U7 c" X! z* ~! r3 |( f
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 s0 Y3 K6 [$ d) d  [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," I* W, M! O$ K4 _2 g1 B1 a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. x* v  L1 N9 A2 N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 J2 I; e5 ?' b+ t( d) I
similar to bonds, CDs trading in the secondary market have different value at different times,
3 M' D9 u9 e3 Ynormally the value is calculated by adding it's principle and interest.
8 _' w4 C" M) `) Zeg. the value of the mortgage+the interests to be recieved in the future. 5 f# [' R1 ?9 l
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.% K. \2 N- ?0 X
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im not quite sure if the multiplier effect does really matter in this case.6 d: {. u; _4 {% I, X
in stock market, it's the demand and supply pushing the price up/downwards.
0 W6 D9 W" A7 D+ ^$ l/ hFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- y" w" j, C1 E4 PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 W# m3 V* f, d( k" _
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.
6 W3 X2 }1 ]& O, ~but the value of their assets did really drop significantly.$ Q9 {% i6 w$ J, W3 Q/ M

6 E7 X- h7 j# ?, k' N: P6 M1 u[ 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
/ X1 ~+ H. ~. l2 J% ~1 BRefer to last example,- N5 E$ m* S1 _+ j
that means bank A have no money because we borrow 10 dollars from bank A
8 U) s9 u1 @( z& IBecause bank A doesnt have enough cash on hand ' u3 s, M6 o( B4 w- m+ Y, b: G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
2 a# f, ?5 z9 x4 h. {so does it mean if E failed to pay D,
9 r% z  G' K" M) F; 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,
7 Y5 D: U  [1 l: Iin this case it doesnt really matter how much money is created, 6 t$ {7 d" ^) w/ \1 M0 n; g
it's the problem of the debt itself.
# @1 C4 @, ]! ?/ }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. D+ B0 i. R! W! A
小弟一直都唔明...& `- X- u* Q; U2 `0 w1 m
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全世界都蝕錢，咁邊個賺緊錢呢?1 l9 p' u; @/ H. U2 L
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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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2 m% _# x/ B! u' u2 L6 |5 zThanks

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那些根本係 紙上財富  4 R; I; u+ T* ~9 |* m0 o
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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; V- b* r( s: g. T. G. g- chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產2 E' n5 ?& q- d- ?% ^% r
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. {$ Y- B: f  t7 u& L! i; o* |* h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 H0 g: ?' T4 q8 Y! G  E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- b& S: T! ~( `$ S6 V" n
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 A/ Q8 f$ d) r. }6 B計番回報率就已經係50%,所以可以好好賺' Q) L- p0 r- S4 m
前提係銀行之間要互相信任先可以咁樣借法
6 ?- d% t) _2 F9 t同埋個市場既前境要係好先得
% x8 r# ?: O- W( j* a$ E/ `" [但當經濟一差,公司估值趺了,物價不升反趺
- v6 [8 m" i" l例如剛才說10蚊的, 趺到得番9蚊, 8 k4 f) l+ \& O1 i. o8 S
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 l' a0 U  c) M; P2 y7 y# L
所以你就會覺得D錢好似蒸發哂咁
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8 b+ p8 f4 W3 e' @1 G. O; j你都可以當標野咁諗, 個樣野多人可以狂升值,   o1 u4 S) b, [! |: s, T) L7 M; X
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( e5 y& b6 k4 h% P4 W3 O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) t& o5 x% b! n  j5 j( j9 \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 p6 T& E! _: C! m, l% C+ _! 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.gif: e$ g8 P- A: m1 K3 |' F4 v, O1 Q+ F
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 b4 q# _9 q5 @/ S: f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . B0 s9 v8 c* `: 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
; s/ b) [, D* W' x- y# p& g5 e咁你話d錢蒸發左去邊? ...

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正係咁樣
, \* p# o4 \- b0 k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
! @9 l, D+ ~$ r分分鐘佢地唔使還錢: h# D( m: {5 j- Z& W( [
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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,
2 ]5 S- P( j% K連國家都係問人借, 不停發債券, 印鈔票! u9 Y: u8 S) w+ `6 E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  I2 D( }. k# E9 o1 L+ E" d
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.gif4 r- c% p4 [' s) v/ v: r6 _# m/ W
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! l" T) ^! n% t. ~2 n因為以前未生產, 先消費
' B) W- E& Q6 }而家就要多生產, 少消費