0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' d+ @2 h* b6 w/ X7 w- H; OWhy bank will sell 借據給第三者???
" w1 |4 k0 I+ b* B! Q9 Y! h+ LI was so confused.....

" y0 ?$ i/ t! M* @8 ]8 a5 e
1 q9 Z, o0 n, e' L& O6 Z$ G講到尾都係賺錢
; [5 t" D" A) c$ @+ hso銀行可以不斷放款( R0 B4 t+ R, q: T
美國的房貸問題散佈到全世界. `/ d1 E  Z! U" g. P! u& i7 B
" V+ l% O% `5 B$ S
mortgage loan - T  Z, F  U. z+ V! ^
>conduit
" N% A  Q/ x9 c% q. Q* J# [2 n>RMBS(Residential Mortgage Backed Securities). {2 r/ W! _# }
>arranger1 |0 O4 E) Y+ O8 Y" k
>CDO(Collateralized Debt Obligation)
* R$ Z9 n# F- p# q7 l5 K" A- R最後去到投資者

Kev

i thought it is the reason of rate of return.' N- c1 R3 y% E- h
CDs could have different ratings, AAA -> F,4 Z5 }; o' h7 V  Y6 F2 Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. e# i6 q6 x3 q6 l" Ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 u3 w8 c) I2 e0 o$ T2 n$ E$ f# q& r' Jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; A" W1 @0 U; n  rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' `1 y  a1 Q& C& G8 F9 U
similar to bonds, CDs trading in the secondary market have different value at different times,: M( @% O+ f1 D) o8 |! O
normally the value is calculated by adding it's principle and interest.
) W; e$ j* m7 N: V) f' Veg. the value of the mortgage+the interests to be recieved in the future.
* d: W0 u% ^! \/ H! z# B4 l$ Ubanks 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.) G# B+ c9 z1 P5 l( E
( [  m0 S" V( v$ g' B% `( [7 S
im not quite sure if the multiplier effect does really matter in this case.9 S  u* C2 }/ n  L
in stock market, it's the demand and supply pushing the price up/downwards.* G1 a. F+ d4 e6 N, G6 D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 [" C3 [4 B2 S( A' r+ d$ O6 VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) ?: ?* w2 z  @0 O+ n2 n5 O3 C9 N! SThe 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.
7 m( O' e3 }+ A; E4 j7 {but the value of their assets did really drop significantly.
8 r/ g' s4 i! M) V! }3 w
' h# u% L. H. X. S0 ]% p[ 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# Z- w  Q! [# l. F+ W
Refer to last example,6 ^& x% H, l3 p! q, C
that means bank A have no money because we borrow 10 dollars from bank A 8 h4 h) E* D/ A! e3 G
Because bank A doesnt have enough cash on hand " ?. c0 K# a1 A+ q! r6 ^
therefore bank A need to be bankrrupt ??? Am I right ?? ...

* M+ }3 x  ]$ z5 D! Q

% \% ^& _4 S4 [( y8 U1 \
% Q+ D: Y( V3 ?0 s$ qA->B->C->D->E
: y' g- y) N/ `- O$ oso does it mean if E failed to pay D, ( c. i/ ]1 V* U
all the B,C,D,E have to go bankrupt?" h; g. B: \* R, ]! v& G' S

8 \0 B& h( }9 Q4 B) E
' ]" v/ a: \# }7 E3 I- sthe multiplier just tell how much money created in a whole economy,
# n  X- j9 X8 ?% t. Rin this case it doesnt really matter how much money is created, & S1 A- w+ B% G1 T% t' k
it's the problem of the debt itself.8 t' ]! N0 t7 d2 ]* |
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
6 T: v9 S  k1 o+ T2 z小弟一直都唔明...
7 F2 b/ c- t5 u! T& B- \$ ^1 h; A8 I) A# j: V7 b
全世界都蝕錢，咁邊個賺緊錢呢?& I7 o# N/ ^( T4 ?0 p

; l6 c# k# z( d: ]8 Y無可能淨係有人蝕錢無人賺架嘛...
# ^9 ~! ?3 l$ w8 ]- G
( ?0 G( }/ {$ ]! S8 I! M敬請各師兄解答
, `' j, E* T0 Z  M* D3 Y- t: f0 [, l. f: ]. _9 R2 x  [
Thanks

, {' T$ G2 O& m" e2 Q; ?2 Y
那些根本係 紙上財富  
/ H" ~, i) L9 @7 Y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
& k6 t2 Y* n1 c- D: F. |9 Q8 R) w/ ^
& [: K3 @( D" Q1 Hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產4 x; w' [% C* ^% L
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  r: I3 v* x, r( P0 [7 K- W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* b; \: @/ Q' Z1 E* F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 n% W. }/ L% }8 y  A扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. x) E7 n% i/ o7 Z6 j7 H5 |: K8 G5 p
計番回報率就已經係50%,所以可以好好賺
$ L# Y9 d1 l$ F% Y0 e8 X前提係銀行之間要互相信任先可以咁樣借法
  O" T8 U5 N' A& |5 x同埋個市場既前境要係好先得
. v5 u5 Y1 y$ \" k/ H但當經濟一差,公司估值趺了,物價不升反趺9 t2 R/ }, e3 y8 R/ j; b" M
例如剛才說10蚊的, 趺到得番9蚊, ' _, l0 x9 j1 ~8 r
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! ~8 {* R, t; }- j" j3 W5 ~
所以你就會覺得D錢好似蒸發哂咁
& x" X1 U* X0 s+ i3 K4 {
2 v4 _9 E7 v2 D* E5 f  S  s% X) m你都可以當標野咁諗, 個樣野多人可以狂升值, + X, V  ]: F  |8 T  H/ |. {! h
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,
" T- J* }1 ~' w/ D4 u4 T( i# p# `淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + ^$ `* R* G1 A' S6 v
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+ E. @% {. 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) r6 u# F$ g# m2 X
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ }  @8 Y/ }* N! f& y" O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 a1 W5 f1 Z+ }; b$ t+ o
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
# i% d' A: }- c咁你話d錢蒸發左去邊? ...

- `& h" U' P& t4 |+ \$ ^, A! k5 y, \$ w2 u/ e  E8 S/ [
正係咁樣
% d/ l: V/ H) Q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
; _& V$ ^. v; S! Y2 C$ M分分鐘佢地唔使還錢
2 B1 a/ @' n# ^8 e) B  M) S2 m7 z+ r) X* ]2 o0 X
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,
( D: k9 s+ X4 d連國家都係問人借, 不停發債券, 印鈔票
8 S" x% h4 i- H4 S1 m1 ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' G2 E& L. e3 r% n# O% U" `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.gif5 O7 _* Y5 k! F8 R
咁而家"爆哂煲"算唔算先至係變番"正常"???

/ _6 k! `* j4 a5 _) x  Z% d6 n4 k& k* z2 n! X- U2 G" t
其實係...
3 A3 O8 K  p9 O因為以前未生產, 先消費
' P0 [' l6 y1 _! l: n7 ?而家就要多生產, 少消費