0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) s0 }% T* {+ HWhy bank will sell 借據給第三者???
* ~) I1 Q  k( z3 z' A1 ]I was so confused.....

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講到尾都係賺錢
' V9 X! o7 O5 F! Aso銀行可以不斷放款: c& `, x" v6 a) o+ R0 p
美國的房貸問題散佈到全世界
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2 p8 L. ?. O( [5 l! I+ R$ E0 }mortgage loan
1 q! A5 V* K; G* O# D>conduit
& i. ?) Q! Z0 m0 X% O3 [>RMBS(Residential Mortgage Backed Securities)2 q& Y+ _2 w( i- {9 W
>arranger
. K9 K$ ~4 z/ W2 D' L8 ?+ J* p9 B>CDO(Collateralized Debt Obligation)7 Y# E* E6 W# D
最後去到投資者

Kev

i thought it is the reason of rate of return.
' l6 y, T0 d7 R1 @CDs could have different ratings, AAA -> F,8 d0 \& J; F$ C9 S
more risky ones would have higher premium (interest rate) as a compensation for an investment./ T3 ]4 i- P: I) L2 g+ K* K1 U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* x7 a: Q, M) F) Oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' z8 J7 y- C5 K/ ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' y8 g% F$ ^8 _' ~0 u  }
similar to bonds, CDs trading in the secondary market have different value at different times,
5 p: A3 S) z! {% Y+ Bnormally the value is calculated by adding it's principle and interest.
" y; o: a7 x. N$ i9 meg. the value of the mortgage+the interests to be recieved in the future. 7 X# p4 B" f3 r) N
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.% ^- q! t9 ]( N  M' o5 q  x( j! }2 w

+ T  W+ G% v) V5 @: kim not quite sure if the multiplier effect does really matter in this case.
. c5 V) h# T5 v+ d/ x& W+ yin stock market, it's the demand and supply pushing the price up/downwards.
& y( D* f: p3 y* @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! S5 `1 o6 b6 u2 B/ Y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% q( f/ C2 i7 |3 r1 C% s1 O( `4 F7 VThe 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. 2 X7 g- G  p9 _* e2 W3 k/ Y; f
but the value of their assets did really drop significantly.2 B, X0 _2 r2 E1 B: O" ?; Q; D/ O
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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
9 `" ?. O, N% U! m- h# sRefer to last example,
) Z, h' R9 x" w- {that means bank A have no money because we borrow 10 dollars from bank A
) @7 d3 b0 y& k* B( O' X. XBecause bank A doesnt have enough cash on hand 9 O; W1 o- H, L1 c. a' M
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; w! U$ R* x/ Y' v* H9 w/ m* X
so does it mean if E failed to pay D,
2 c" f7 M$ g* d; aall the B,C,D,E have to go bankrupt?. l' S5 O  E) D- d% E' F
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the multiplier just tell how much money created in a whole economy, + E  q) B0 b- k6 e" i% r7 W, P
in this case it doesnt really matter how much money is created,
  A$ d0 p% I( cit's the problem of the debt itself.
7 o) h+ g8 J2 L, }: E" ^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) \: o" d' Q1 n4 y% b  O* Y# K: h
小弟一直都唔明...
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. u! @8 D5 P3 Q. S; Q3 U  X全世界都蝕錢，咁邊個賺緊錢呢?
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9 y/ H+ A$ }+ A) o( u! x) I2 j9 ]無可能淨係有人蝕錢無人賺架嘛...7 r1 X1 d- K& ?3 G! Q

" p6 T2 p4 c1 y, |! r敬請各師兄解答
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Thanks

% }" D8 n; G& G那些根本係 紙上財富  
( Z/ J6 Y* S$ t8 m/ i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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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6 X2 e0 J9 S' k# B
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 t% j9 U! O& o" y* q/ h( J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3 S& |6 h& N  e
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 r0 Y0 G! }* m% ?1 |, t. D7 `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 G& r& G1 V, a5 m' L2 {1 {! u
計番回報率就已經係50%,所以可以好好賺
, B) K" R. a! d前提係銀行之間要互相信任先可以咁樣借法
( @- q1 N. p: ]2 K. c1 k- j4 ]同埋個市場既前境要係好先得  F% }, I9 S1 ]: N& |+ O+ A
但當經濟一差,公司估值趺了,物價不升反趺
( ?1 ?  c0 f1 n1 e# M例如剛才說10蚊的, 趺到得番9蚊, 2 c- e! n! E3 J+ b
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 v( i, z+ E  K( h5 ]: p9 T所以你就會覺得D錢好似蒸發哂咁" _2 L2 U% I+ u' a' n

/ I0 u, ^8 T( |8 L+ @你都可以當標野咁諗, 個樣野多人可以狂升值, ! w2 }+ V7 ^  n: b$ p
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, 3 h/ i9 n2 j+ @+ T3 W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 ]4 h; b2 ?2 l1 o8 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' m! r- d3 S" o: ~9 [& x9 t
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' R; `6 C5 Z# q( `% c
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- X8 T# }0 R3 Q% m8 x) n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& [$ `, Q* ^6 \; j2 @5 h* D- Z  p: 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! y9 u3 w% V* G) k& j) i' z. e* N$ t
咁你話d錢蒸發左去邊? ...

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* W# N: f5 ~) `& m! v/ _# N正係咁樣3 U7 G) x2 \2 h+ t; g% ^  [  A7 }
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. v( @1 j3 R分分鐘佢地唔使還錢
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% w4 x; @1 j, T. ?1 K$ g" F2 m' ]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,
* C" I. |7 E! @4 a連國家都係問人借, 不停發債券, 印鈔票) U5 A( V& W# Q8 m
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! K9 M# J  Q6 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. \! S( U6 E$ c+ D! m
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 h8 ]  e' Y: l) a& `! t+ B$ t9 a5 ~因為以前未生產, 先消費
& Q. {( m) h- W而家就要多生產, 少消費