0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. V# H3 x! X4 E8 O+ B
Why bank will sell 借據給第三者???
4 m$ V; @- j9 ]1 c# N' vI was so confused.....

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講到尾都係賺錢, _) ~3 J+ E9 w: d, K3 l2 o
so銀行可以不斷放款
: O1 v2 }( K) ~2 ]$ l美國的房貸問題散佈到全世界
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mortgage loan 1 K6 H+ M2 V6 M
>conduit0 [( f  }% }& g
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
7 A4 C7 r. x- a/ s* @最後去到投資者

Kev

i thought it is the reason of rate of return.: b; j* c; V. q/ ~& i
CDs could have different ratings, AAA -> F,$ X3 h2 X) ~$ }) O( \1 v3 \1 [, X
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- O5 r% i, ^; J5 M# l6 |' vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) [' ~1 `+ }1 B* S7 J; i9 xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* E8 Y1 w3 A0 c# h' p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 l2 s0 z& h- f1 Bsimilar to bonds, CDs trading in the secondary market have different value at different times,
) E* {! n0 }, C6 snormally the value is calculated by adding it's principle and interest. . j" t9 f& ~. m1 B, ~
eg. the value of the mortgage+the interests to be recieved in the future.
( A/ D; Y; X% ~; J* K- w- @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.3 e  `* |1 J& @4 d' |
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im not quite sure if the multiplier effect does really matter in this case.! s! w' j6 N9 ~3 l6 C  s. Q
in stock market, it's the demand and supply pushing the price up/downwards.
1 Z7 F/ R9 y3 W! C7 Y9 vFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' S* l6 ]+ K" M4 L" Z7 j5 W% wA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., a2 F8 w! [; q& A, f( d  j1 g) i
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.
0 L% u# m6 S9 p; N" }) i/ ]0 O$ I. z2 Ebut the value of their assets did really drop significantly.
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& i+ X7 {1 d! B, K2 B1 Y+ ^[ 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.gif0 Z8 h; `! I4 A8 }0 v, _8 [! K
Refer to last example," z% X; {, g$ P8 F% e
that means bank A have no money because we borrow 10 dollars from bank A * N0 v' ~, ~! j9 E
Because bank A doesnt have enough cash on hand
. Y7 ?9 `( R- n7 xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E7 e! F) K& o1 A( ^) l
so does it mean if E failed to pay D,
" W9 Z1 M& ^, y8 ]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, ) D1 }/ V, L& ^& Y, D/ K
in this case it doesnt really matter how much money is created, ! D$ x9 a5 k' X4 `4 k
it's the problem of the debt itself.
  p* }" o2 ^* P, h" V. n( othe 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
$ M+ K" X/ p4 d4 n4 q7 W小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?- J$ {( u& {$ n% R6 f6 u5 P% z$ M1 S

$ Z5 ]3 o. X* m: T. A* T2 X無可能淨係有人蝕錢無人賺架嘛...; B; i! l4 I( k0 K
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敬請各師兄解答$ M8 [, _( W8 Z6 T/ ?

! h3 X$ x7 K6 r- Y# [& `7 ?Thanks

6 K$ _( k! x0 x9 @2 q那些根本係 紙上財富  5 a6 t1 w+ S! `; Q
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1 T8 i! ^( C, ]6 [: |; U, S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 q1 o8 p: g2 H; @; G
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  K" p" e- |4 ~: @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 c3 g  y! W7 @5 y, k& k
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! J5 c- y# H/ |/ ]* j
計番回報率就已經係50%,所以可以好好賺
  \9 `! Y+ L' a. y2 m+ b$ ~( H1 ]前提係銀行之間要互相信任先可以咁樣借法4 h2 H4 x& p/ O* `; O
同埋個市場既前境要係好先得
' L% z, [- K3 {  G+ V+ R6 x但當經濟一差,公司估值趺了,物價不升反趺
4 p# T2 ]4 M( `' i# w例如剛才說10蚊的, 趺到得番9蚊, $ |& O  j! C9 R8 s6 z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! F  t  g0 y2 B; N" q& H( c) y
所以你就會覺得D錢好似蒸發哂咁
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9 t; k+ t8 h3 a! S  g你都可以當標野咁諗, 個樣野多人可以狂升值, ( S+ y% T4 \0 l, J5 T
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,   r0 J  V0 S8 H" W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" _$ _" F5 d* E, p( G/ H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
6 h$ z$ s! X/ d  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$ k7 T$ V& J* K) x; U! N. C5 |
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ ?) @/ G+ U0 }% n1 S2 ]& a! y" A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , K5 |- V7 B% S9 z6 c9 G
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( G" t6 |4 O& {# `咁你話d錢蒸發左去邊? ...

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3 h7 I( t. x% E9 U( N正係咁樣
. [! O; R$ ?0 h/ l5 C+ r% D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
+ }8 {* B. `3 X2 G分分鐘佢地唔使還錢( O" q0 d: N0 ?% e: L
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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,+ c* |7 ?: C  k8 e. O; p
連國家都係問人借, 不停發債券, 印鈔票3 t/ g& Z7 A& v0 x! [- ?3 C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- ]8 {+ E3 v! U+ i: R2 @, ^
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+ e% ?0 Q) S7 F* j
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..." B! a$ s- C; H: }/ m
因為以前未生產, 先消費2 Q2 b2 [8 [1 o+ H( q1 o
而家就要多生產, 少消費