0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ u/ n% C; i- c( Y5 k" bWhy bank will sell 借據給第三者???" k) C: d) o! u5 b9 L, _. |
I was so confused.....

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講到尾都係賺錢
3 e/ [7 }3 ?7 Q- ~* S- f( h" m. rso銀行可以不斷放款
* G: W5 \' _, w6 v2 g美國的房貸問題散佈到全世界
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% O0 ]+ ~/ M% b* X! {* Imortgage loan
, I  i1 \+ {' A9 I>conduit
/ E' C6 H. r3 o& g. }! ^>RMBS(Residential Mortgage Backed Securities)
0 A8 P, j& B( `>arranger! J: Z5 @) u* o8 d. z* d2 q) S
>CDO(Collateralized Debt Obligation)) p3 r7 C! S% g( `& Z0 r
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ V7 Q& k0 o+ s( P9 _+ z6 i- xCDs could have different ratings, AAA -> F,! ^6 ~8 ]2 _1 a. k; S8 }" T. |
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 w: e7 ~" a; {' Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& k( p, @, l+ s3 ?- S4 o# G, kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. x4 i& k0 n' k: X; U& E# m$ S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 ?% N7 l3 j0 G) @; @1 d, R6 Ksimilar to bonds, CDs trading in the secondary market have different value at different times,, R  E3 j4 G7 A% u
normally the value is calculated by adding it's principle and interest.   Z9 q8 J4 O/ m2 E( Y' `. Q. b6 x; i
eg. the value of the mortgage+the interests to be recieved in the future.
5 M3 Q( c7 R# L/ v0 lbanks 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.
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im not quite sure if the multiplier effect does really matter in this case.  p$ c: I8 m7 n0 u; h
in stock market, it's the demand and supply pushing the price up/downwards.: O) O" y3 ~; ]6 F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 v- m# O1 v& v; B' _' D/ ~- r% K$ [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: p# K6 ~& Y3 @9 C2 j" 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. ) ?& K% `3 B2 P
but the value of their assets did really drop significantly.
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+ l7 v  M& Z: w: t0 J4 f8 F- O[ 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' \( T; \3 U1 R! ]- j! _
Refer to last example,) T& A3 P' [; b( T* b. E
that means bank A have no money because we borrow 10 dollars from bank A
6 ?; T$ ~& \8 D% W' z9 O% Q! L8 b; vBecause bank A doesnt have enough cash on hand % o( _# Y, n8 q& S' `
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 g5 f# {, _9 r- Y2 b2 L2 IA->B->C->D->E6 r. y- g" w$ [, \0 g
so does it mean if E failed to pay D,
5 Y6 x: i) O! ?# |6 X% o6 {+ ^all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, 0 M; v' i# }* A1 l* u
in this case it doesnt really matter how much money is created, ( @) k0 a3 K% _6 O
it's the problem of the debt itself.
" z0 n2 V* F2 c- @% E3 Xthe 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
5 A4 l& X# F9 O# j6 f# g; k小弟一直都唔明...
2 e! a* o; Q. z6 H! I5 ^% d  q- K+ b% u* U, A8 p- E% _4 Z
全世界都蝕錢，咁邊個賺緊錢呢?1 V8 ?0 J& P7 {

$ v/ H: W* j" z( h/ D5 }  S無可能淨係有人蝕錢無人賺架嘛...! i% O: ^  z! Z' K; Y+ Y! f" W
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敬請各師兄解答
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; }, C7 N/ j5 H' mThanks

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那些根本係 紙上財富  , G  C' v( }0 k- o0 L# }
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, ]% ]8 t7 P: u8 P: C" X8 U

' ^, q% e) y7 i1 X' Ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產# n1 i' e2 p& }6 ~9 U' V
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' s; D2 v* d; G7 ~2 m7 C' S! Y1 R
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1 Q6 s% s9 U$ C) X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; c2 j; z2 Y# Z' q" T( Z2 i0 r" K3 _
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 N/ {; J. Y" m6 w* D" B/ V計番回報率就已經係50%,所以可以好好賺, o: b7 w2 c( Q' l, D! A$ B
前提係銀行之間要互相信任先可以咁樣借法8 D! P& V: q: u# ], i! s
同埋個市場既前境要係好先得; p) V7 L- f/ g& f7 r8 h% E
但當經濟一差,公司估值趺了,物價不升反趺: ]  R2 S6 \3 c5 Z
例如剛才說10蚊的, 趺到得番9蚊, ; i1 N# x5 N0 Y; a
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 i$ S  K- j, h& s( b; u所以你就會覺得D錢好似蒸發哂咁" j2 A* S1 f" T( r( Y" O

" F' H' x; D: w2 p4 ]1 B你都可以當標野咁諗, 個樣野多人可以狂升值,
! N8 m$ d6 C1 q& H5 A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, : a1 Y2 E* t) e: h6 c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 z5 a0 @3 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
" z5 W, X9 ~8 b& e0 V" M& [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
/ }2 V5 W! s" v/ [9 d' f唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( F' c" y: _4 G9 }7 D8 K. q" t2 K淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( C# L0 }- E( \# |! 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
2 z8 ~6 G3 g0 O咁你話d錢蒸發左去邊? ...

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正係咁樣
  {  W/ p9 y, E8 _+ ?. b' v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
# G9 v+ A: ~4 u6 `$ r- ]) k分分鐘佢地唔使還錢" ~1 ^0 D5 i6 Z- R5 l" f

( N, K0 B+ W- f8 P# e$ n* \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,
4 Y5 Y9 r. t4 b% e連國家都係問人借, 不停發債券, 印鈔票: v5 q: e% N' c: f+ U/ r4 q, ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, j& ~; q( @) X# f2 A9 g! G! t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
. J+ G8 H: ~+ e2 G1 j, v/ _  a咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
( ^6 Y7 P/ f7 r% w1 R3 m因為以前未生產, 先消費; e, k) e: s' m+ P( \$ C
而家就要多生產, 少消費