0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. A# A! G( W- p  q, xWhy bank will sell 借據給第三者???
; Z8 t" c: J8 B( I6 sI was so confused.....

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" R" J5 m. |  h8 B* a講到尾都係賺錢
+ w5 _. C+ W' e) B) ~& rso銀行可以不斷放款: }2 E0 l: u( a
美國的房貸問題散佈到全世界
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2 t8 A. X& R& ^1 ^, z+ kmortgage loan 9 k9 v. d, ~* C4 M
>conduit, p3 \: E. g4 S! f- z( e- ?: w
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)( Y4 C8 R* _3 X6 W6 }
最後去到投資者

Kev

i thought it is the reason of rate of return.! I- {# }. i" g; D
CDs could have different ratings, AAA -> F,3 g- L: ~- N7 A( z! r
more risky ones would have higher premium (interest rate) as a compensation for an investment.9 V. r$ W% w5 r6 V: H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- |& o8 O" e: Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 Z& V4 t0 b4 Q2 Y6 N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" k! q- [& W! ^/ ?0 Fsimilar to bonds, CDs trading in the secondary market have different value at different times,
- l" ?/ u  X2 I" d* V3 Jnormally the value is calculated by adding it's principle and interest. , ?$ L) r6 U# a  l+ G
eg. the value of the mortgage+the interests to be recieved in the future. . i$ n+ c  k9 K' g3 C! }! u4 _1 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.  x. }- m# _: E% |  x( I6 v: j% i1 x/ H
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im not quite sure if the multiplier effect does really matter in this case.6 {$ ]/ J# {; T9 T7 F4 [( \
in stock market, it's the demand and supply pushing the price up/downwards.
9 m; m9 z. R0 R$ bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& v5 ~% z3 K4 a8 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  W% n) U1 g  d6 y
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 {5 }+ N6 E1 S; E& b
but the value of their assets did really drop significantly., A  O1 ~' O9 y2 j

1 e$ U5 p7 k1 J. b; Z* W9 ~[ 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  y! e8 B& G4 v* I7 T
Refer to last example,
6 i" e: ~* _1 ?3 k4 Vthat means bank A have no money because we borrow 10 dollars from bank A
8 L1 x+ e  A% @9 ABecause bank A doesnt have enough cash on hand
/ `; \- e, d. m! m. u' z! ?& r0 htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
0 Z7 b7 |, E/ M4 d9 D; g0 gso does it mean if E failed to pay D, 4 P1 x4 l0 A, W* z
all the B,C,D,E have to go bankrupt?9 O" G2 @5 D5 ?/ }- V8 Q% f
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; a+ P- O; H; L$ A. e" L2 i8 h. {the multiplier just tell how much money created in a whole economy,   ^7 x9 Z4 D% I. W& @$ ]
in this case it doesnt really matter how much money is created, $ x% `4 C- j7 @$ n5 h
it's the problem of the debt itself.4 @7 K4 p9 l4 K. }7 q( l
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% g4 c. w/ a2 K* {  u% h$ l
小弟一直都唔明...
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: @  l- j: |; d! q: T$ T全世界都蝕錢，咁邊個賺緊錢呢?5 c5 |5 h. e! Y# a5 V3 T/ S

1 ?" y6 Z/ w( k無可能淨係有人蝕錢無人賺架嘛...
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  l% R: c. S1 Q敬請各師兄解答1 Y6 {; V8 p  ]3 Y- |8 S
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Thanks

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那些根本係 紙上財富  5 [3 o; t: o$ ]4 N
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; m3 [# h6 w  i  T8 w) G

4 X( g$ m% {2 o# w1 I9 D! m/ d. a% 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
' V- v9 O2 r7 Z& {. }' ?" I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* u. {/ b2 o, v2 f! \* F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" q1 d- N# x* n
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 I3 k" u+ g" E% t  A; _
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( }2 e# v: S2 M3 c計番回報率就已經係50%,所以可以好好賺# w: a; k; w+ D! i+ ^
前提係銀行之間要互相信任先可以咁樣借法* l3 S& y( \) X% u
同埋個市場既前境要係好先得
- M. n! F4 f4 v0 M& q0 z5 q但當經濟一差,公司估值趺了,物價不升反趺: i5 E5 D+ E, T
例如剛才說10蚊的, 趺到得番9蚊, & ~/ L0 a9 m" P$ y8 R( c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 h9 P* \! z/ Z1 X, [* r( }( e所以你就會覺得D錢好似蒸發哂咁& ?1 u9 G9 z, _9 @9 z  k: @6 R& O
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你都可以當標野咁諗, 個樣野多人可以狂升值,
" c9 W5 N% C& n4 o% n& Y1 p* N9 O) S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, 2 @5 _* A3 d) k8 h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , t2 n  n# f0 y- I
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+ @& ?, i0 @5 q9 H
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' m( q, t  X0 {2 A- X& _
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " Y$ d9 Z' F4 A2 k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( {3 h; ^7 o, b. t. S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 |5 B8 w# V7 e0 B咁你話d錢蒸發左去邊? ...

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& r+ r+ i# _) E& _: t* S. t" S* k3 ~正係咁樣) \, w; ?5 I7 `' z
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
* {- W* H; |" O2 |; n8 Y分分鐘佢地唔使還錢' B7 G; c, {0 {0 z1 u0 e
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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,
7 u% C# f9 O/ u連國家都係問人借, 不停發債券, 印鈔票5 d5 K1 a3 Z9 x  ?" ]7 N' s/ y
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" c1 e' u3 C1 [) Z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. Q, S, y$ k8 q, j- w; [
咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 O& }" a# p5 t) g! \) ]0 y0 {其實係...
! F( n6 b5 y2 c/ R/ X因為以前未生產, 先消費% ^) b" a2 B. G$ N; U
而家就要多生產, 少消費