0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# c$ F, E2 z5 j  c: E! |Why bank will sell 借據給第三者???  v) W2 W. V3 l6 H" j5 ~- u
I was so confused.....

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( ?; Q4 H6 ?( ?2 Q6 ?  Z& `5 d9 c9 x講到尾都係賺錢
6 q- b" {9 V8 n0 |- hso銀行可以不斷放款
$ D1 k  r% B* z5 e7 B美國的房貸問題散佈到全世界$ H. `0 z" x* c0 N! T; L: \. k1 r
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mortgage loan
& |" q6 [, _1 ?* F3 ^/ k>conduit
( p$ Q4 x$ j7 u) ]7 D>RMBS(Residential Mortgage Backed Securities)
" i! w1 {0 G+ A& M/ p$ \>arranger4 n2 u0 n* d6 h; c0 ^4 _
>CDO(Collateralized Debt Obligation)* A. J$ _7 M% i  u5 M' R9 o7 b2 q
最後去到投資者

Kev

i thought it is the reason of rate of return.3 S: S; A" f# s  `
CDs could have different ratings, AAA -> F,& d& V" N2 i$ L& k" S+ G, d' q% s
more risky ones would have higher premium (interest rate) as a compensation for an investment.  I/ b) {2 t+ P7 ?5 C* K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 V6 E7 d4 b2 _7 x# m- n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 K; Y' X1 e, [0 b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 n1 p% k( B* j( X
similar to bonds, CDs trading in the secondary market have different value at different times,
6 o$ `5 q# C* h) [8 k% m9 ]1 g/ snormally the value is calculated by adding it's principle and interest.
2 g5 H  D$ c/ V, j# [- |2 b$ ueg. the value of the mortgage+the interests to be recieved in the future. % v* P  U/ X; u6 A  U
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.
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im not quite sure if the multiplier effect does really matter in this case.
8 h3 b! a7 h3 E) L9 V& _. E+ @in stock market, it's the demand and supply pushing the price up/downwards.  k% F+ n0 v& p& t+ T8 p
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  g2 D' r; ^8 j; E7 H* E5 LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." p8 R0 r! @. O7 m. j
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.
9 t  `: j7 N0 kbut the value of their assets did really drop significantly.2 l! _% L# l5 v0 M

$ m8 V6 K8 ]# J5 [# Q[ 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& C+ J# F1 a( I4 ~  b. C- _5 N
Refer to last example,
9 g' G' U$ f0 B; e' k) Gthat means bank A have no money because we borrow 10 dollars from bank A " p+ T! w( J, b8 E) n
Because bank A doesnt have enough cash on hand
$ q' @  O  V" V( }3 btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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( x3 u1 d" e# {2 X2 ?" WA->B->C->D->E  F8 p) }* \. i$ P- [# L
so does it mean if E failed to pay D,
- i% D: s* H/ @: h3 @all the B,C,D,E have to go bankrupt?
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0 q! U& ]- v* i- w) vthe multiplier just tell how much money created in a whole economy,
+ S$ Y2 y( K2 ?$ B0 din this case it doesnt really matter how much money is created,
3 d% m( A* _9 {6 s/ Iit's the problem of the debt itself.
+ x( Y! [  v  H* Qthe 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
% ?+ {$ o+ x+ Y' d1 p! M# m! a* r小弟一直都唔明...1 n" S; A0 w' j! k
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全世界都蝕錢，咁邊個賺緊錢呢?5 U3 ~- O; b4 ~. A" S
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無可能淨係有人蝕錢無人賺架嘛...0 S, {6 c" f' t
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敬請各師兄解答3 B9 N; Y% Q+ H( ]

% H1 c9 |1 f9 Y' iThanks

$ e( E0 g( {  z4 h8 ^- t那些根本係 紙上財富  7 L3 N+ l5 u- ~8 d$ a0 V2 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& R2 Y. l! a$ X
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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- @  W( m3 b; u  B6 i2 n& W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 y6 y1 c9 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2 R; U1 E& W4 m0 b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" P0 U9 B; ^* \+ D- u; y7 O* G$ d扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 x6 E* A* i8 A) j
計番回報率就已經係50%,所以可以好好賺
4 O# ^. s2 ^7 ?8 c0 V1 F% `, S3 R8 i4 n7 o前提係銀行之間要互相信任先可以咁樣借法
! [% ]/ \6 p8 s! q同埋個市場既前境要係好先得# `5 }" }1 G8 U& o5 @. b, F
但當經濟一差,公司估值趺了,物價不升反趺
3 W6 |8 t* R* W2 {0 I, K# p例如剛才說10蚊的, 趺到得番9蚊,
8 j9 ]' R( g' H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 W% C+ j" C5 r' ~, t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,
2 a  L' Y2 a- m% @7 ^( {0 N* z2 p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,
$ M8 t6 `0 |+ \( B; O: T( j# \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + U) Y" @6 o/ j% R6 C
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- a. y8 n3 e( s0 m3 J1 a+ w: g3 n
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
" x( H5 A* b  A5 z  M9 u" \唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! L' X( L' i2 W6 e3 W* @8 z' l! u% e1 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! E# s4 \0 K2 ]% d: F7 ]6 |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
2 S# [$ [  ^5 e' W咁你話d錢蒸發左去邊? ...

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8 u9 M0 z* F( W& l! O正係咁樣9 U0 @+ Q- J: I  d4 C
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0 w) G* C6 D# @" p- y) l
分分鐘佢地唔使還錢+ W' O( _/ S) F4 x9 {3 j7 f
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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,) r% j5 H, ]. H$ a/ \/ f
連國家都係問人借, 不停發債券, 印鈔票% p" W2 O9 b+ e( r3 a4 {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 [1 O4 k2 f8 V9 c9 O. s
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
# s0 u) c, F: R, ^! o6 ^" l咁而家"爆哂煲"算唔算先至係變番"正常"???

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' \( c& F- J' X# L% |其實係...% A3 ~' o0 m' G0 C
因為以前未生產, 先消費* L6 E8 ~3 ^$ ?+ ?7 [) U2 G1 {
而家就要多生產, 少消費