0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  s! o2 i0 {6 w6 _Why bank will sell 借據給第三者???
+ f% L* q8 K1 P7 j' SI was so confused.....

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6 N" w! `& M. r; t4 J講到尾都係賺錢. R9 s% K- m6 y6 g3 Y' Z
so銀行可以不斷放款  k' M- L2 N& J1 i9 c) }" i
美國的房貸問題散佈到全世界
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mortgage loan . n. ?- |) l2 S2 }4 N9 d
>conduit
) f: x" o5 J* ]' E- U" P. K>RMBS(Residential Mortgage Backed Securities)% ?+ U% t& l) @- e
>arranger* H4 U9 f7 a7 v5 Z
>CDO(Collateralized Debt Obligation)
9 E) N$ l% {! [9 B1 `最後去到投資者

Kev

i thought it is the reason of rate of return.) x) p8 J) G& U1 W7 m4 E1 F
CDs could have different ratings, AAA -> F,8 B' o9 B' f* v  E" P
more risky ones would have higher premium (interest rate) as a compensation for an investment.! j( ~6 W6 |) j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, F+ b, k( }. E( ~& N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, B* b. V1 {( V# H% X! D- ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 p) j/ U# c0 w7 W+ {) k
similar to bonds, CDs trading in the secondary market have different value at different times,9 m$ |/ _3 N2 s
normally the value is calculated by adding it's principle and interest. , @$ Z$ x# T0 U) [
eg. the value of the mortgage+the interests to be recieved in the future.
9 Y9 {3 B% f9 {! p* J. h4 S9 M4 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.1 Z+ p1 L1 m$ U# z

) _5 t/ _& T) S# s" y. v! zim not quite sure if the multiplier effect does really matter in this case./ |' H3 T4 E, A
in stock market, it's the demand and supply pushing the price up/downwards.$ x' q; j& l- y1 g( ]. s, _
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 L% J& m5 v4 p# z" \* bA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, {/ l( v# k& G. D; Q( s; nThe 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. + k0 R5 M2 q+ O
but the value of their assets did really drop significantly.
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: s3 N" s' `3 Y/ u[ 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
7 P! Z: |+ U5 A+ dRefer to last example,) d9 \, z: ]% b/ n# \* V% H6 }
that means bank A have no money because we borrow 10 dollars from bank A
$ m! f0 r9 ^3 M2 v5 fBecause bank A doesnt have enough cash on hand 8 N6 C# n2 T- j9 ~8 f! j
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E) j( q* D* V) j8 Q: q* t7 k
so does it mean if E failed to pay D,
" [4 d  A9 ~# ball the B,C,D,E have to go bankrupt?/ s! O- l% g, h* y7 @

  ]9 }4 i2 X7 ~4 C  X1 [% o  H6 W& ?. ?3 Q1 i2 A! ?
the multiplier just tell how much money created in a whole economy,
0 f) p- X& X0 X, Uin this case it doesnt really matter how much money is created,
+ r9 d/ Z! e, {# w; v" {it's the problem of the debt itself." D' Z. O) A7 ~9 l! J" p  e7 |
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
- \1 f6 U5 n+ g/ c6 d  g' h小弟一直都唔明...) @  ~- u( \" W6 {

% h3 [" ]) A' @7 S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...  f% w% t7 z0 B1 ^1 k. ?( X
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敬請各師兄解答
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6 p  S* ?$ \7 C: O9 m+ hThanks

, q+ }! p$ D5 F0 m; P, l7 y- ^% V
那些根本係 紙上財富  ( G/ z8 p4 L, U# W# `0 K  P! S7 O
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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* u7 b) T: D6 U1 xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產# s- ^2 v* H- }
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* t% e* ?1 y. ^2 w7 b$ A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 I2 m2 a9 @, \5 W) Z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' {# P* I( H# s2 J扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- C- d: W6 M' t- {
計番回報率就已經係50%,所以可以好好賺
" y- u2 K! c6 N+ b! _前提係銀行之間要互相信任先可以咁樣借法! l6 ^7 G2 N& j) o5 V: R8 ~
同埋個市場既前境要係好先得% l1 z" P* ?( {/ q
但當經濟一差,公司估值趺了,物價不升反趺
3 I8 W1 v2 t8 @% f8 ~例如剛才說10蚊的, 趺到得番9蚊,
$ W. N* l2 x$ B: C2 G9 y5 U咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ T% G7 P, J. t所以你就會覺得D錢好似蒸發哂咁7 D9 x+ m" S, f8 O; _4 u

  X5 i# b/ g/ s5 @你都可以當標野咁諗, 個樣野多人可以狂升值, ' t& X6 W4 ~* u' j2 M% y# H
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,
1 b7 J/ y" |0 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 t9 ]" J' B. M1 C
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
4 H4 P! W! X( C5 U# T2 ~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, T4 `4 H) v$ R% h3 I, u6 n' p
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. Q* m  C' t* p. u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& j, K' {0 x* _" ~4 l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) N6 W$ @" H咁你話d錢蒸發左去邊? ...

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0 ?( o) V( j3 N7 `" D( B正係咁樣
" d/ s( A- a9 l/ _' n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
5 `" w: D: r9 s, m! N$ E分分鐘佢地唔使還錢. u1 R! r% s1 l" }6 |3 m6 ^
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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,1 X5 [& P: J+ c% \9 b
連國家都係問人借, 不停發債券, 印鈔票. A/ F" c; o9 Y; f5 j0 M8 j
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 z, L* o9 P9 k1 x' I5 m' A
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.gif2 S/ B* u' N5 J6 S4 H
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
4 p8 Y6 q- J/ c+ j2 v0 ?因為以前未生產, 先消費- g8 B1 j6 r1 R7 C6 ?8 j
而家就要多生產, 少消費