0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! s3 d9 y$ p2 l. J% H/ i, JWhy bank will sell 借據給第三者???4 b9 U  Y5 L1 ]$ o' Q5 Y5 ]. I
I was so confused.....

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講到尾都係賺錢7 V+ c, P5 t, P' Q9 d8 t8 B
so銀行可以不斷放款0 H  i, _0 G: i2 y
美國的房貸問題散佈到全世界
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mortgage loan
" O4 z3 f5 M" B/ K& n. L>conduit
: M& v+ i2 D* J- d>RMBS(Residential Mortgage Backed Securities)
% K* x. T; J" @>arranger
, W0 e! L2 m: \>CDO(Collateralized Debt Obligation)
, V' g8 I5 \' Y最後去到投資者

Kev

i thought it is the reason of rate of return.$ ?5 A& c& V* c  S( _
CDs could have different ratings, AAA -> F,+ P' K: s# y$ V8 o  g* L' W3 k
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 W( o( V# m+ h# jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 |+ B1 g3 |: u! S. \& B. lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  a" F4 i( y8 |& x% j8 r$ @6 lAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 l! f: d, I& m- ]6 o  c
similar to bonds, CDs trading in the secondary market have different value at different times,
  {' l4 T" Z3 knormally the value is calculated by adding it's principle and interest. ! f' U1 Q- a  B: s% z0 \
eg. the value of the mortgage+the interests to be recieved in the future.
( o0 Y( d; h3 j& \7 l3 cbanks 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.) d  X2 F4 l/ |( s' \8 n

7 u( w6 m3 X$ J( r7 Pim not quite sure if the multiplier effect does really matter in this case.
+ @; a$ r0 ^! x6 win stock market, it's the demand and supply pushing the price up/downwards.7 B; s. C! \# G5 v. X! L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% A+ B% t: C/ b( x/ B$ E( w
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% j& M5 ~0 n" T8 t' _% t4 ?
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 ~& J) [- Q7 H+ e) L
but 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
- c& ^- U  D. b; q" ~- n4 s4 @0 ORefer to last example,/ R. k$ }# o5 k" v- m9 c% ~# Q
that means bank A have no money because we borrow 10 dollars from bank A
$ y" j5 c7 ?# bBecause bank A doesnt have enough cash on hand ; B& }2 `: z5 `& b, s4 b# y- e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 S4 f; U: h. LA->B->C->D->E2 `" A; {0 X5 i( G( {
so does it mean if E failed to pay D, ) t) p' j$ L4 v$ J
all the B,C,D,E have to go bankrupt?- ?8 u6 {( O6 H! }
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the multiplier just tell how much money created in a whole economy,
. `7 V+ g3 o0 Tin this case it doesnt really matter how much money is created,
  m1 ^. ?$ A) s5 |) I9 L7 bit's the problem of the debt itself.2 A; J' M; I- a8 n$ F
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
, x. I9 h/ [0 p" f( v小弟一直都唔明...
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. N% p1 r: M8 a8 O9 s0 Z全世界都蝕錢，咁邊個賺緊錢呢?  z4 Q7 B6 q/ G9 j
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無可能淨係有人蝕錢無人賺架嘛...0 ?" ^" ^. ]1 h0 q5 }4 H* D
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敬請各師兄解答
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# ^& E1 K0 \1 Z  e; Y8 SThanks

  B/ |) {0 ], J/ I那些根本係 紙上財富  0 k6 h0 G9 w  Y, p
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/ c9 U7 D. U8 c& F, W

# R& m; G) E5 ]. {3 v6 P" }( @3 p+ bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產% X- m( o( G  a& ]" u
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 y8 ]  G+ I) _' o3 u' A, V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, b' I  M1 e/ Q& O+ r1 u
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  [, j: _+ w- ~0 ]. d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, A& I3 L3 [8 k% o計番回報率就已經係50%,所以可以好好賺
: a7 }: O1 C" h4 ~, q1 n前提係銀行之間要互相信任先可以咁樣借法7 W8 S9 C* Q% ?8 ~& n
同埋個市場既前境要係好先得4 I! ?1 ~, L' m' p; V
但當經濟一差,公司估值趺了,物價不升反趺
. Z! O8 C: v+ R: e* E: ?. L* e+ s例如剛才說10蚊的, 趺到得番9蚊, : ^! i& d+ R' W+ c+ h& g" X. P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* _, u# z& r, U/ w# ^所以你就會覺得D錢好似蒸發哂咁. [- f1 K! g: L" ?

! z: m+ ]  T" N& E  ?5 A+ E你都可以當標野咁諗, 個樣野多人可以狂升值, $ Q" ]5 E% n; [2 x
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,
: R6 n) b' }) G; e; N. c. P淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 V$ N9 `; n2 g+ 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  c* g" E. x3 ?+ V
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
9 o' M5 A4 p0 p2 r) X唔係d錢蒸發, 而係比美國佬洗晒未來錢, . t- v4 |: t/ v" r9 q* i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , a! G1 _. z' c4 Z9 ^* z+ O9 Y! S# R$ 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
) h! R5 x) j; U$ e咁你話d錢蒸發左去邊? ...

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正係咁樣
7 p! H, V/ l( @9 O' 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
! k$ C4 g, e8 ^# X分分鐘佢地唔使還錢2 X0 k% Z  ?5 ]8 E# I2 p: n  w
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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,
: m( i, u% r/ {# d2 R8 A9 d" n9 b; F7 S連國家都係問人借, 不停發債券, 印鈔票6 H* G6 U- h0 ^/ n) }* w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ f1 n# w5 C& W3 w& R" h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.gif0 X. j& w, P9 z, w: s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- O1 w2 J& q" a! V其實係...
8 U& ~0 e" R" a4 y因為以前未生產, 先消費6 F1 Z' s$ b, v7 ]) Y
而家就要多生產, 少消費