0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, t# D* W! K' b% @Why bank will sell 借據給第三者???
4 o: \. x6 X' n$ OI was so confused.....

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講到尾都係賺錢$ g& ?: @! P8 a/ ?8 K: N
so銀行可以不斷放款
' m; j& o5 X# }& P3 c美國的房貸問題散佈到全世界
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mortgage loan
7 r1 K2 a+ \: S$ A) O: P- f( v>conduit
4 c$ x, J% S2 j: `" H>RMBS(Residential Mortgage Backed Securities)
+ V# z  ?' ?; c6 p4 _% z, u>arranger. ~+ Z* D1 g: r
>CDO(Collateralized Debt Obligation)
9 R/ z* E' t& L  t最後去到投資者

Kev

i thought it is the reason of rate of return./ `$ ?  W! M# l: W9 z
CDs could have different ratings, AAA -> F," C' I7 [- @" z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
% v9 @6 v) y: ], k& Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: Y1 {3 p2 P* z* H: d# ?
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& v' N/ U( T) _7 N. g$ [. ~; x
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) x0 }: j" H9 v! N& s' @similar to bonds, CDs trading in the secondary market have different value at different times,  Y( K! O7 K3 C; f2 Z7 d: i: y( B
normally the value is calculated by adding it's principle and interest.
$ X" z2 k3 F( X! d1 h7 deg. the value of the mortgage+the interests to be recieved in the future.
4 t% s, P; h' v6 Z& S' G3 y) Fbanks 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.$ a& B7 `: i) ?) |; w
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im not quite sure if the multiplier effect does really matter in this case.
  A# m) u* P% I2 M6 C! hin stock market, it's the demand and supply pushing the price up/downwards.
: k7 A! `& q8 b) D# b( HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( `9 a  Y- E7 w5 d% l: aA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 m! K: r' ?/ z/ [5 P0 [9 M' nThe 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.
- D1 R5 g: p/ [, Qbut the value of their assets did really drop significantly.
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' y; }# ?# g6 v( F% M5 [# V[ 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.gif0 V9 i* n2 J& R0 m: ^0 z& ~
Refer to last example,
5 i) ?. t" o2 _: K) T. G% Gthat means bank A have no money because we borrow 10 dollars from bank A 4 Z7 F0 |$ |- q! K" x0 G/ D
Because bank A doesnt have enough cash on hand
3 o1 R6 p3 \2 B5 ^therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
9 t  R8 {4 T) [8 N& M  N2 U! zso does it mean if E failed to pay D, 6 v$ E* W) w7 y2 N) _+ E* |
all the B,C,D,E have to go bankrupt?- w6 X8 m) }) l0 Y9 C* l; Q
4 n3 A6 L" w; _/ {; O, |" F! C

0 j0 Y  s4 A  M; U& ithe multiplier just tell how much money created in a whole economy,
3 h; S* \4 p# P( C% M2 ]in this case it doesnt really matter how much money is created, 1 O+ P3 y$ f1 Q* ^( X$ T: y
it's the problem of the debt itself.* q% ^9 k. u0 Z. \& w4 J
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
& H: R6 l, Y5 V  H9 L/ ]小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?7 z: ~  M" r( G. @) |

  @2 P; j0 s8 q6 }1 Z# [1 W無可能淨係有人蝕錢無人賺架嘛...
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% |0 A, U+ v- J- z5 f& _+ F敬請各師兄解答
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6 P# m2 x9 _5 Q2 i1 j$ Y  R5 UThanks

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那些根本係 紙上財富  7 M9 J* k  _6 A/ j
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: {% f6 P" G4 Z  K6 b+ o
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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. b3 C. v1 R9 k$ ?  h% M6 e
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' a; {$ B  f: b8 n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% M  P1 [+ p# M  D% ?7 X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# t( F' O& s8 O) d% p, t
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; N, r0 E7 p( ]
計番回報率就已經係50%,所以可以好好賺
/ }) J" l! L, v- D! @: t前提係銀行之間要互相信任先可以咁樣借法) u% K' H/ P9 S; z) L* Y+ _+ U1 H
同埋個市場既前境要係好先得2 u' A- A2 v! J% }; d2 P" Q
但當經濟一差,公司估值趺了,物價不升反趺: W4 I2 `- g2 O7 w' {
例如剛才說10蚊的, 趺到得番9蚊, & s( E7 ~6 `, A
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 }, K8 f  o8 Z! c4 j# l5 c/ r
所以你就會覺得D錢好似蒸發哂咁
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& E2 h- r2 X: K4 \1 S. d你都可以當標野咁諗, 個樣野多人可以狂升值,
! K% h$ C% r& 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,
$ C) o  G" l, {: s$ p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 h1 C& j' u& E1 I% w0 W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 [3 C6 B: T. W
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
! j1 W2 y' g! f6 i- d! ~唔係d錢蒸發, 而係比美國佬洗晒未來錢, - v. S# y) J! B1 p6 J; A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 K3 d( l0 O( W2 e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- `9 W: w+ K% j
咁你話d錢蒸發左去邊? ...

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, l! `6 z& d0 _$ Q# _2 w正係咁樣
& t8 h. [. J1 a, P( V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
; O3 @/ U- h9 }/ M- S, Z  e分分鐘佢地唔使還錢7 s# @6 s% d( }7 h2 Z! \9 Y) a
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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,- o- b  A4 \& B
連國家都係問人借, 不停發債券, 印鈔票. p% y2 Y* G$ Z1 z" ^, G# }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# g" Z& G* I" [) B  [; 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.gif
7 b. S/ |& n! a3 J* Z. a  u咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...2 f2 {: }6 u/ d; I4 _( F- e* N
因為以前未生產, 先消費$ B0 j9 J8 {( y* C8 o
而家就要多生產, 少消費