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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# E" ]4 E- D" I( x2 D
Why bank will sell 借據給第三者???9 f, S9 D. _! W- P0 N: K5 j! P
I was so confused.....
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7 r9 q# N$ j: u講到尾都係賺錢4 x' Z- ?! A' O* L# u
so銀行可以不斷放款( `# _; Z  Y& o( G$ H, u
美國的房貸問題散佈到全世界8 W8 }! }* b9 s* g2 S+ ~

  d( K; @# f8 d" L8 rmortgage loan 3 T+ T- N" o9 U5 `# l
>conduit
* {# h7 n: {9 }8 c4 I4 u+ j>RMBS(Residential Mortgage Backed Securities)
" d& X0 p  ~& \3 k3 j% H>arranger  i' W. m( V% u) O8 ?5 U5 O
>CDO(Collateralized Debt Obligation)5 s9 _; X- A$ r. q3 B
最後去到投資者
i thought it is the reason of rate of return.. y; F8 v, w: _
CDs could have different ratings, AAA -> F,
5 l1 l7 z/ C5 G9 P& @# bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
( x3 `* S& ?! Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," P: g6 p! y) \" C6 u8 v
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 R$ I  F& W: J8 d2 I8 G- w
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 ^7 ?" r6 {7 k% bsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 Y; k/ ]: V+ Wnormally the value is calculated by adding it's principle and interest.
2 f$ {# o8 @) L# aeg. the value of the mortgage+the interests to be recieved in the future.
( h( D  p6 e, C$ W2 R6 O4 ubanks 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.4 H8 {: a* Z9 I5 p1 X! |1 {
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im not quite sure if the multiplier effect does really matter in this case.+ F* f2 s2 r5 {& Y/ b( u
in stock market, it's the demand and supply pushing the price up/downwards.! u) ?7 i; F  L/ u. A  v* g( w. X
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( S! b0 M/ |% D. _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) k8 B% p! C* ?( M8 [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.
. _1 o! x6 L' |, Xbut the value of their assets did really drop significantly.
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  m  {, O% v8 x5 u! E! X1 u* ][ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# V" a/ @7 V1 w* jRefer to last example,
6 e- D4 s# V1 Z1 D0 sthat means bank A have no money because we borrow 10 dollars from bank A
" c2 o/ t: j. c* q2 t% T. h7 gBecause bank A doesnt have enough cash on hand 2 \! m' b; B: V6 V
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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/ Y  N* x% z" \2 @A->B->C->D->E
: p! d; o2 N5 u8 [7 z0 x1 a4 Y0 qso does it mean if E failed to pay D,
- i3 \: l' B: j2 v3 R: I9 Gall the B,C,D,E have to go bankrupt?
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  J  l" E$ d' i" ~. Wthe multiplier just tell how much money created in a whole economy,
5 R. p/ H5 v8 y: din this case it doesnt really matter how much money is created,
$ W  u5 C8 X  J% r) hit's the problem of the debt itself." E, V5 I2 X' }" D0 Z: m
the debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* d* m: Q0 g9 N: v; q小弟一直都唔明...6 h4 J; m& a, G1 F3 C+ O0 I

. I0 p. N; d" n全世界都蝕錢,咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks
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那些根本係 紙上財富  
2 x6 P- ^6 D7 }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
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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5 _4 o& b! {; }+ p1 E- T8 A! whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產; F, i1 K4 ]( }& \7 G
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 f5 m/ u4 f' |& \( {% h2 q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
! y: @; [8 D* ~8 `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 M* z7 k+ I( d- `# P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' d1 G3 Z8 k' J  ]6 x" `6 m計番回報率就已經係50%,所以可以好好賺- a$ C3 V1 ?) g8 I7 k
前提係銀行之間要互相信任先可以咁樣借法
4 D& \, G' U' ]! h5 s7 o6 ^同埋個市場既前境要係好先得
5 C7 x! _' h7 o但當經濟一差,公司估值趺了,物價不升反趺
8 D) B' ]8 F6 ?" j' D- y( v例如剛才說10蚊的, 趺到得番9蚊,
# \7 d  r6 \- e7 T: {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) @% J8 I9 w  I5 l9 \2 c( u所以你就會覺得D錢好似蒸發哂咁% ^8 n% D$ j; f6 t

, Y  g4 N% \+ ]. D9 n7 u' C你都可以當標野咁諗, 個樣野多人可以狂升值, ! o; q* ?7 [% a; R5 j/ i. t* L
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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 S& Z9 o# o; O# F  `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- S( q. X& G: t* O  F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: W/ }) Z9 p: Z( d
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 _" l( ]$ d+ i4 u$ @/ r唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 B8 H" K6 C3 F3 h' r% X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) V" `9 T0 [: x: V' L. U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( t- Q5 e* G: X
咁你話d錢蒸發左去邊? ...
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正係咁樣/ G& V4 P& P1 k6 \2 v* _1 X
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2 h! H3 R1 g! Q8 U5 \
分分鐘佢地唔使還錢
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# H( e* \; ^& p7 b. k8 K3 I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,/ o0 c; L5 [& X4 l
連國家都係問人借, 不停發債券, 印鈔票
: q6 r0 ]1 t( W$ w# U一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) j) Q! J& b6 j  s6 _, ], U7 D
編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif
! u' W! B8 S. M6 L& \  Z: w咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係..., e* S! G$ Q7 l" q  S( S
因為以前未生產, 先消費
$ i  j# k3 I( T8 ?8 z% }! i而家就要多生產, 少消費
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