0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 h# F# z, `( eWhy bank will sell 借據給第三者???
+ E: R1 p- J# E/ kI was so confused.....

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講到尾都係賺錢
) T4 c) o- @( d& c$ u, fso銀行可以不斷放款! y* }+ P% s& p( M
美國的房貸問題散佈到全世界
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8 f4 ^' W8 r6 T9 E7 S+ n; F$ B' j, bmortgage loan 8 a" s2 R. b; L1 d' a' R
>conduit
# E, D7 Y( a% Q9 ^0 t( i>RMBS(Residential Mortgage Backed Securities)9 ]" B9 T7 e* `: ~# H
>arranger, K# z! E. \. b! v  p$ P" u: P
>CDO(Collateralized Debt Obligation), I0 E: m) U! k% P
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ i$ m( V7 y3 fCDs could have different ratings, AAA -> F,3 d" u* W: p) {5 O) \3 a- b
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( t. i+ [5 d" I8 @9 C" A* K+ jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 \/ m* V4 n: n( F( F7 ?/ u
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! D; {0 c& n5 S8 i$ X4 `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& l2 J- Q1 P1 e8 D( ]
similar to bonds, CDs trading in the secondary market have different value at different times,
2 ^( U# T, m' P( n* snormally the value is calculated by adding it's principle and interest. ' l' B% ]7 ?. _8 p
eg. the value of the mortgage+the interests to be recieved in the future. ( O1 F- h& D& t( ?
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.2 \  K/ f4 }, Z

7 ?7 G+ n  q; {" t; k8 f4 v6 Aim not quite sure if the multiplier effect does really matter in this case.
5 G1 N; N0 q0 C1 C' F4 K/ M4 C4 min stock market, it's the demand and supply pushing the price up/downwards./ ^6 U( {  a2 L  c# H, ~( u& ^/ t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; d$ ?6 |3 |6 j! F4 EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( a$ g3 z. M, [
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.
% U+ h% P7 a9 Pbut the value of their assets did really drop significantly.
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[ 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" k; ]. Z" s3 D& T0 C1 J, \, U
Refer to last example,
; p0 r, v6 H& Q. ythat means bank A have no money because we borrow 10 dollars from bank A
( Z% l/ `! b# `% @5 a5 p8 y( @Because bank A doesnt have enough cash on hand # J* X7 A, @/ y( h1 Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
* k! l3 o9 y: T6 kso does it mean if E failed to pay D,
% `9 C3 Z( @& {, \. gall the B,C,D,E have to go bankrupt?
8 B, `, V; E8 I! r1 L  A# m3 }5 A( P  e  v. G% D- @) ~" ?
" J7 V6 n! x0 r. W2 e
the multiplier just tell how much money created in a whole economy,
; ~. S9 m9 ?7 a8 P8 Iin this case it doesnt really matter how much money is created,
! o5 P* \$ z5 t$ n, b' z+ \it's the problem of the debt itself.
2 g% x5 x: X- W) t! Cthe 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
. i; `& A, P7 G/ n  q" K+ N6 A小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...; k) T* r# I0 v/ o9 d4 Q' [
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敬請各師兄解答
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5 O  O4 K2 k9 [6 x' f# PThanks

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那些根本係 紙上財富  # K* I8 C! i5 ?; L' l
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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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
' d6 Q3 x: S  I( ^% J& a! Q4 ~2 K當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 D* h3 e5 i. J$ F; ~1 N4 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
5 L2 B* v1 \1 U/ S1 @; Q) G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 c1 n  B/ g% c# S! v( t+ ^4 ]扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 g: M) @1 V5 t, M8 K計番回報率就已經係50%,所以可以好好賺8 ]9 f- ]8 P5 v$ f1 W- K
前提係銀行之間要互相信任先可以咁樣借法& c/ r( y1 A/ k6 ?) R0 L8 S& y
同埋個市場既前境要係好先得
4 z5 f3 |' n5 }! E) x但當經濟一差,公司估值趺了,物價不升反趺
' F' k* R6 T5 D例如剛才說10蚊的, 趺到得番9蚊, ! I( @" C1 w+ m. w
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%" R& A; \6 v& S: K6 H* O6 S$ t2 m- h
所以你就會覺得D錢好似蒸發哂咁& H( e$ {1 E; m' R. z1 n

) M5 a$ u( k8 A) D! J1 D9 H* I你都可以當標野咁諗, 個樣野多人可以狂升值,
6 Q  a2 V" \+ j' [2 y. r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,
* y3 B: d3 A: R$ G# A6 H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   q- B$ S" R) j# ?# g/ d, d
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 }6 ]- e9 q( H- I4 M5 K" G: w) R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
7 }+ f  e* k7 B5 q4 t0 N- [, }唔係d錢蒸發, 而係比美國佬洗晒未來錢, * G# G0 I+ W& k" Q6 U" t7 z) _: z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ i+ ^, M  x8 o6 \: G3 P7 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" ?- ~. I4 P1 e
咁你話d錢蒸發左去邊? ...

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/ e& s5 k+ G, G9 @3 `; o正係咁樣
4 s+ h. q8 |+ C  R4 i/ @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
  @' S# }' a, v0 p0 R0 ^+ m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,
* s+ h' b% v% H5 s9 g$ s連國家都係問人借, 不停發債券, 印鈔票2 _6 h7 D' t% {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 ^8 l( r: l2 w* K
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
' z* A% x$ r! ~) p. V咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  ^, \( ?$ S; j- V$ Z因為以前未生產, 先消費
# [. O" k% R" i+ j1 P( ~- N而家就要多生產, 少消費