0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 c: O7 v5 @" M; uWhy bank will sell 借據給第三者???
9 ?* Z, V5 d" RI was so confused.....

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' b! J& w& Q& P& f. u: _' s! m講到尾都係賺錢
8 ~" X9 {! \; |  k5 R5 kso銀行可以不斷放款8 g' S0 ?7 \- b% C- g
美國的房貸問題散佈到全世界
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5 J$ f9 ?) n3 ^% N" {/ u( tmortgage loan
4 Q+ w6 n5 x: U& }>conduit7 R- L1 H% k/ G) s1 k
>RMBS(Residential Mortgage Backed Securities)
7 N4 R0 K& R6 }>arranger# E6 w  s! |! g7 X* e; f6 `& x9 ?
>CDO(Collateralized Debt Obligation)
; [: ?/ n+ \5 y, a9 D最後去到投資者

Kev

i thought it is the reason of rate of return.* G; S; j4 g. H/ ^6 e+ n* G+ h
CDs could have different ratings, AAA -> F,' R7 G, E9 h. A2 P
more risky ones would have higher premium (interest rate) as a compensation for an investment.
' X. p5 z/ g  Imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) m* I7 y! R* zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 r% a0 Z* q! c! f6 LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, D1 _3 s. J) \3 `5 E. xsimilar to bonds, CDs trading in the secondary market have different value at different times,& T! @' X% J9 D* r6 _0 m) _9 z
normally the value is calculated by adding it's principle and interest.
& Q7 U! Y0 k" z; J. r: F" reg. the value of the mortgage+the interests to be recieved in the future.
2 _* n- p& }5 I" h3 ibanks 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.; A1 O6 X3 J' J9 q. {7 z& J
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im not quite sure if the multiplier effect does really matter in this case.. n3 b! s8 _  t
in stock market, it's the demand and supply pushing the price up/downwards.
# {9 I; c0 \1 uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! h* L! M9 V. PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ f, q7 [8 M. I" c1 ~8 G) RThe 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. / o, ~" ]4 Y. r; m
but the value of their assets did really drop significantly.3 Z6 {6 W, N; f7 G& g
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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
/ m2 f6 n, B3 Z  KRefer to last example,( {% z% K( E9 ]% G+ F8 [# C
that means bank A have no money because we borrow 10 dollars from bank A ' u3 Q0 j. j1 W7 r! X
Because bank A doesnt have enough cash on hand
/ X- m) Q# P& htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
, I8 P& {; z7 Hso does it mean if E failed to pay D,
3 a! n7 F! F! e4 _6 s9 U3 @  ^3 z4 ?all the B,C,D,E have to go bankrupt?
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) P; e/ e8 i& _- C/ A+ l: a5 ?5 Sthe multiplier just tell how much money created in a whole economy, * x( c' T4 ?. b+ m1 i; E
in this case it doesnt really matter how much money is created,
$ F. @2 x6 f, S$ z; k+ G( kit's the problem of the debt itself.3 I& }1 f1 A3 T2 I2 l' R
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
- s' L) n+ |6 `6 _* m1 v& c小弟一直都唔明..." R4 T8 J, V. B1 f
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全世界都蝕錢，咁邊個賺緊錢呢?3 `7 ~% Y9 E6 n, b: Z$ `9 {
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無可能淨係有人蝕錢無人賺架嘛.... _. B' E5 f+ h6 P: P
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敬請各師兄解答
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Thanks

7 M& g5 G3 V# f: H- z8 u0 Z那些根本係 紙上財富  0 o% t  [7 I2 J! t5 |5 U
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 graphic9 ^" Z% t% G/ o$ j

% t6 [) T: r9 `0 F5 x  @- U; fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產0 K- H& U) {( l
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! U0 K# ?" Z5 h/ E2 t2 i0 _7 L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8 T+ N7 O& L  X7 Z3 ?+ `1 p
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" T1 b& H' R; J  l9 [- ]7 i! ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ |) p' P! M) O7 O; a1 n計番回報率就已經係50%,所以可以好好賺
; n- v5 q% L. l3 r9 j前提係銀行之間要互相信任先可以咁樣借法9 W6 R2 a+ Q! }  T8 m
同埋個市場既前境要係好先得
. X+ g, J$ r* ^; @5 Y但當經濟一差,公司估值趺了,物價不升反趺. P5 a2 H" n# S3 p
例如剛才說10蚊的, 趺到得番9蚊,
  w3 l6 R! G# g1 ?( \4 T; f咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* t. g1 `3 @6 f1 j1 T# [# ]& a
所以你就會覺得D錢好似蒸發哂咁; _2 q) n/ Y% P# B  t
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你都可以當標野咁諗, 個樣野多人可以狂升值, 7 E, g% ^" C% L+ c. ]2 }
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,
# [! B- x& Y* R5 w$ u. m" b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 }0 Z( A2 v1 q6 m8 D" x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, H$ z2 r- B! S: D4 U3 \
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
: X' {# A$ q0 r唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 k  F/ C5 U5 }: \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 a3 ?- A; D# c. M1 M: P, B
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
) g/ m3 f( u4 {3 }咁你話d錢蒸發左去邊? ...

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正係咁樣3 M3 c+ R( G9 |: Y2 v! 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0 M/ N) D1 }2 s2 @5 C5 }% P
分分鐘佢地唔使還錢% M4 B" S$ V$ G. d: V' G  _0 v
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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,
- O9 v2 \6 Z+ f連國家都係問人借, 不停發債券, 印鈔票& ^$ M; [8 y3 a- h+ g
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% p4 l; E* Z# @+ Z% m3 y
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  L; V2 d6 }8 G
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...- N+ V( ]$ ^" f( D" {% f
因為以前未生產, 先消費
; z6 K* I" L# J; g' x而家就要多生產, 少消費