0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* U% j5 |: D; j& Z6 \% l/ g  e" BWhy bank will sell 借據給第三者???
+ R, E% a6 q9 {( wI was so confused.....

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講到尾都係賺錢
: k, b! w# \: K! [& m& y; v8 @1 h0 nso銀行可以不斷放款9 G- t0 O3 J/ y8 h, V/ j8 j) ]1 A, `
美國的房貸問題散佈到全世界
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: T$ f9 u6 w" |+ o2 \/ F: Wmortgage loan
# k# m+ Z& X! x/ O4 X1 W>conduit! r  a* i8 h7 i: W
>RMBS(Residential Mortgage Backed Securities)
4 i9 M7 V; N& j6 e>arranger9 q# f/ Z5 E5 ?0 t. G  E9 D
>CDO(Collateralized Debt Obligation)
( I, o' d  c2 n! h1 Q最後去到投資者

Kev

i thought it is the reason of rate of return.
" _7 q. A, Z+ a+ i% A+ G# T. LCDs could have different ratings, AAA -> F,
  n- L( r% a8 }more risky ones would have higher premium (interest rate) as a compensation for an investment.9 |, y+ b( {2 Z( Z) r
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( [7 A  F: S1 i: A. y$ yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 V4 F( ~. F: m7 f/ J
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 `& V4 A, A8 \' J" @
similar to bonds, CDs trading in the secondary market have different value at different times,
& N8 f! A$ A: Vnormally the value is calculated by adding it's principle and interest. ) D/ O+ h1 m. }  Z; D% j1 `
eg. the value of the mortgage+the interests to be recieved in the future.
  g6 U* L4 g$ X4 mbanks 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.
4 r# ]. m6 E" b! L9 r8 ?3 S  y7 Vin stock market, it's the demand and supply pushing the price up/downwards.
! _( f4 z% O( C8 QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% Z4 x1 Z5 l7 Q! a: O* ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ |" H6 U4 C6 m9 W0 X1 b# }- c
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. , A+ y- g& p4 u) l7 q
but the value of their assets did really drop significantly.
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$ B/ K3 b5 m$ w6 v# 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.gif6 H* p; |/ }3 o; w* c/ w9 @
Refer to last example,
& |5 e" h; X/ O8 s' h- r/ ythat means bank A have no money because we borrow 10 dollars from bank A
3 L; y- O, s# ?" T* yBecause bank A doesnt have enough cash on hand
3 R$ Q% @1 U, c# G1 E4 Utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E# A; \) K4 n  K# z8 k" O% L
so does it mean if E failed to pay D, % ^; C  x: \0 y% L, a2 {6 ]
all the B,C,D,E have to go bankrupt?6 y- ]3 N3 D) s# g3 Q+ ~4 f
5 F# B4 V, c4 i8 \7 e

- E. Q* Z* ~5 z% \$ X* Fthe multiplier just tell how much money created in a whole economy,
) n0 e; ~+ U2 Lin this case it doesnt really matter how much money is created, : W9 J1 {( f+ J4 ?5 u9 r! y4 x
it's the problem of the debt itself.5 z( h: [& i3 j7 S8 t: t  W3 ?: D; V
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
0 E& h; j; f3 F9 P6 @/ B& K小弟一直都唔明...& @% \  p* K7 O; C6 I

, v1 k' W+ J  c0 G6 A: ?全世界都蝕錢，咁邊個賺緊錢呢?7 m( v7 A; [6 w! @2 A

* V, y' h, \$ T$ g無可能淨係有人蝕錢無人賺架嘛...4 f0 G9 e4 P7 E* R
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敬請各師兄解答
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/ n# W" R# m1 h$ b0 bThanks

1 A2 |; S7 x0 ^! R: o; d
那些根本係 紙上財富  
6 F& l1 h( a. S3 x) c2 g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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; r$ o2 ?3 F. X- I3 n4 N  ~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
4 d4 b  t8 l2 D5 T4 e: X2 A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( M7 F* Q) o! O; {( b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( D' e  y' f% m2 o+ G
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  d" f( A/ N4 ^; o9 K1 e扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ Z" g4 M, N7 o: c6 V計番回報率就已經係50%,所以可以好好賺5 h. P0 I+ k' R; C6 S7 O6 I0 L8 p
前提係銀行之間要互相信任先可以咁樣借法+ D* \. b, j3 a0 x2 `3 k
同埋個市場既前境要係好先得
2 F; U3 L0 h& W$ v+ G但當經濟一差,公司估值趺了,物價不升反趺8 m7 K7 j- Q( d$ s- R9 g! t  L& c( ^
例如剛才說10蚊的, 趺到得番9蚊, 5 m# q8 _- J: L1 n* h* [) l/ p
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# B6 i+ x- F( h  I- ?- P7 y' R所以你就會覺得D錢好似蒸發哂咁& p' l  g9 j: Z$ s9 z1 [3 c

9 ]- g$ g9 c0 E& I/ D" k$ p8 i你都可以當標野咁諗, 個樣野多人可以狂升值, + y* m/ ]5 }: o, ^3 W
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, ) J3 P# J( O: j! L- A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: y2 U) f$ Q" j, z* g0 P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# ]1 R! D9 V& |# e) f1 @, q* 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
# \4 v/ L! R2 o1 ~  {5 Z" S( G唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! H4 ^; i3 r$ o9 b% o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! r' j' z, h0 j
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
: u& V1 i' ^( @/ A2 M9 ~; {咁你話d錢蒸發左去邊? ...

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3 {  t( ~. @: S) n5 x正係咁樣
% J$ K1 m2 I. Q; p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
/ A/ Q+ v! ~2 H# \" _! {' V8 U: C& z分分鐘佢地唔使還錢
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6 q0 s9 ?$ t6 n: m  ]5 }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,
% j6 K7 t9 |. s8 D2 j2 N連國家都係問人借, 不停發債券, 印鈔票
5 J) O3 k! g% z一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 N6 m- N3 x1 Q9 |8 p
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
0 _$ {& Q' S" F% w咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 d: }0 D. M0 ]2 P& h( W2 @$ D其實係...
, q! U7 W/ a% _, I因為以前未生產, 先消費
$ ~$ f# w2 t4 f: G) X. d而家就要多生產, 少消費