0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" e% C9 _2 v4 g& L# }/ t8 B2 t4 `  rWhy bank will sell 借據給第三者???$ s) Q; l8 x; x! g& m8 t- x/ ^) G
I was so confused.....

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7 ?1 K5 ^4 s. [; p. v9 O' }9 A5 L講到尾都係賺錢
; o) l# d% ?4 }" {7 l' p3 Hso銀行可以不斷放款
; W3 w1 o0 T3 j' M: r美國的房貸問題散佈到全世界
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mortgage loan
2 i1 r$ [( B5 u' ?9 d>conduit
4 Y$ g1 L+ A$ a) L>RMBS(Residential Mortgage Backed Securities)
$ D$ R" |% S' a: q0 R>arranger1 m  D! m( _9 [0 F
>CDO(Collateralized Debt Obligation)% T9 w5 J6 C, x) O$ a
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 L2 h& c: w6 U* q) ]CDs could have different ratings, AAA -> F,* m6 Y) }6 i9 n$ J9 G0 @' Z" I. l
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 p, K* `. s# c5 i. X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  z4 W4 n9 o( k; Y! B0 \1 c2 n; vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 `; w9 O5 R0 Q9 p8 E2 j" ~% bAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." v; P4 U, u8 q9 E7 L* L
similar to bonds, CDs trading in the secondary market have different value at different times,
" ?. B) h6 r4 f# z- A2 o! x+ n. x- }normally the value is calculated by adding it's principle and interest.
) E' \( q8 L/ B7 U4 ^9 F. C" Leg. the value of the mortgage+the interests to be recieved in the future.
: Z3 b! v9 t3 \1 a3 I- r0 q0 ^' bbanks 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.
1 t. ?  W$ W; d4 o8 ~$ ?in stock market, it's the demand and supply pushing the price up/downwards.3 U. k# \. [+ M( O6 V8 r5 e3 U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( Y8 ~( f0 _! }( }1 v/ y3 oA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- l5 O+ F% L% x
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.
, e, g5 T4 m+ {" c) D( p7 U* Vbut the value of their assets did really drop significantly.2 D2 o+ O; x3 ~" b% C7 X4 k

! N6 G1 S; E4 s3 @; C% z2 W& ^[ 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.gif9 k. \9 t, H( P  r6 ^' {
Refer to last example,2 Q# d4 F+ O8 f8 E3 |- V6 @1 u; \
that means bank A have no money because we borrow 10 dollars from bank A
" d5 X" I9 Z& y3 J' pBecause bank A doesnt have enough cash on hand 7 E& Z$ U1 D* @# k, {% ~4 h
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ I  L' C. K* sA->B->C->D->E
9 s0 u/ P0 z* G# s5 x: D" ?0 Nso does it mean if E failed to pay D, 1 v; _: U' }5 @7 {9 d6 ^
all 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, ! ^* C7 u* R" B8 @5 Y
in this case it doesnt really matter how much money is created,
" l" V4 e7 v2 @, s7 v6 A4 y1 zit's the problem of the debt itself.+ q* E1 [5 n$ i- o* X
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* V1 R! O# M* p" H* W( P) n
小弟一直都唔明...$ n! Z4 T4 I5 O) W( Y% o% |2 G2 y% Y# U
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全世界都蝕錢，咁邊個賺緊錢呢?4 i; U) b  s) _, 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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* _% X- L3 P. Y, Q9 IThanks

% q+ ^& F+ G6 O% j' P3 b那些根本係 紙上財富  
; d  O/ d1 x  C3 j3 E% ?$ `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% O. X/ m9 t+ B# c  Y9 ?. w

. s! p" t2 B6 C) Z) w3 Whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
; j  g3 V" }! P) V7 ]當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' Z7 E3 k4 S4 d1 R0 q/ M
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! i% x' L1 T/ F* {( J
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 T! O. X4 i# b2 s" v3 I
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: u+ J5 x/ @3 l, O# j2 I- x) r' p
計番回報率就已經係50%,所以可以好好賺. m- r; K  N8 ?# q  b$ P
前提係銀行之間要互相信任先可以咁樣借法
' g& z* X; `8 S同埋個市場既前境要係好先得
8 j6 [1 x4 ~) {6 M* |4 i! A. I但當經濟一差,公司估值趺了,物價不升反趺2 K  y! w( y" t+ k1 B1 F
例如剛才說10蚊的, 趺到得番9蚊, & B; T1 I$ p9 G9 _# m$ T: j
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" V6 S) L$ X. n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,
, D- y+ |8 r& F8 t# }. v8 B- t4 s8 B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, ! x) p# Q! Z6 r. p- a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . z4 q( A1 F0 P. b( U+ 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
4 J6 \# U6 I3 K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.gif2 }& J9 w5 f/ @. u
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 i% _% r( J# @  q) o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 Z; x: l2 H& X* i( T! d( R! Y
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. K6 [5 X5 y# A* y8 O1 ~
咁你話d錢蒸發左去邊? ...

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正係咁樣
& C: n3 q% Y' f. B; C# i- L. L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/ D* }" p3 J7 h6 B1 a2 e) t1 V" z
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,
1 y; o' J, H0 a9 g1 ]$ R; y連國家都係問人借, 不停發債券, 印鈔票
* y# O0 F' O$ H6 M一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 T9 t5 @" z" ?' a
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
2 u2 ?( Q$ q: v3 z4 }3 y$ M) I! n咁而家"爆哂煲"算唔算先至係變番"正常"???

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# x. p0 B3 |3 [: {: v* _其實係...# I6 @! Z) x6 [1 A
因為以前未生產, 先消費% V6 ?! u! o+ r, N# T8 c- x
而家就要多生產, 少消費