0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" O2 B: R" }! n5 S! dWhy bank will sell 借據給第三者???0 O9 S5 U1 ?9 e* U! m: e$ ^
I was so confused.....

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* I( N( U/ B3 j( X8 _. y! {講到尾都係賺錢9 Q( o( ?* h; M3 [0 f1 K6 f
so銀行可以不斷放款
9 i; k1 I6 Z' `5 d1 V( @. k美國的房貸問題散佈到全世界
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mortgage loan $ @5 L+ K9 ~/ {2 [0 p# t5 z
>conduit  ]; }8 G' L7 H9 p& ^. \. d' F# r
>RMBS(Residential Mortgage Backed Securities)
1 V. e; e- |7 i, ~: R) o1 @>arranger4 v2 Z7 n6 w7 h$ l+ E
>CDO(Collateralized Debt Obligation); W/ q* e) e/ l3 `
最後去到投資者

Kev

i thought it is the reason of rate of return.6 u+ v& L* y5 u, i
CDs could have different ratings, AAA -> F,
! C" G, h. V% S" V5 }more risky ones would have higher premium (interest rate) as a compensation for an investment./ v4 y4 V( u: h, Y. c! z7 H- `
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 F! ?$ a) X2 q6 @4 \' B  Min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  g+ l9 N3 ]! b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, Z* Q# v8 N+ A8 Z& qsimilar to bonds, CDs trading in the secondary market have different value at different times,$ g0 I" c  S: x6 n, r* K1 J
normally the value is calculated by adding it's principle and interest.
4 {1 b5 @$ w5 z! n* B: meg. the value of the mortgage+the interests to be recieved in the future.
- R) ~$ `- u; M! Z: _" D) qbanks 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.9 J) i: D. H2 N: H: W2 u
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im not quite sure if the multiplier effect does really matter in this case.
1 `* U" ^& h) T1 J& jin stock market, it's the demand and supply pushing the price up/downwards.
7 y& p: s  Q! _% A9 `- PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( V6 Y* {( W5 `% _( o4 \A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 A3 ^3 T" T! u- |: YThe 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. * L- e" d' {9 i
but the value of their assets did really drop significantly.
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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
8 a; F# }% x0 j+ V) K: _4 `Refer to last example,
, n' b# @0 j4 _! sthat means bank A have no money because we borrow 10 dollars from bank A
6 j( b, O: d" I! G  }7 k. g8 SBecause bank A doesnt have enough cash on hand
' M( ]5 D( o7 M9 O% Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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) x3 w- O. D" L) Y$ R1 f# P9 F3 }A->B->C->D->E
/ X1 {! ]  G( k6 s+ Qso does it mean if E failed to pay D,
: O; P3 d) O3 E3 O' @+ _all the B,C,D,E have to go bankrupt?3 |8 m6 C5 w& ^7 m7 h/ L& |. T1 }
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$ p8 Z% {/ ^6 ?: q" ^the multiplier just tell how much money created in a whole economy,   c7 ]5 k9 v. S: u' {. u% I
in this case it doesnt really matter how much money is created,   h/ N3 Q! Q& L- R+ h5 @
it's the problem of the debt itself.
/ {& z7 b+ c3 f% p( |  h& j3 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.gif1 d: u" _1 [" f. O, R7 I
小弟一直都唔明...* `4 T0 A% X* G) c

. O  ]1 O5 F3 `- `9 l2 k9 Y全世界都蝕錢，咁邊個賺緊錢呢?
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9 B2 A. j: W; K' p) Z無可能淨係有人蝕錢無人賺架嘛...( B2 ^  `, o1 c* w
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敬請各師兄解答( X( [$ H( L% |3 r

. }5 _" f, D. m( H. m( k8 AThanks

' d  `' ?: N& {/ n那些根本係 紙上財富  
0 J: z& G$ [5 K: u- U4 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
$ A: ^* a1 a9 y* f當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 M: C) l1 ?$ c' o" E3 I  t9 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4 \% s! ]) }5 x6 `
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 M4 ~7 k1 v' O" K4 a- v; G, @% ]扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 t: x+ L7 T3 l6 |5 [5 X
計番回報率就已經係50%,所以可以好好賺; `8 _! u3 N9 {7 a: g( g$ L
前提係銀行之間要互相信任先可以咁樣借法+ A- G5 _' D+ n
同埋個市場既前境要係好先得! F3 ], t7 E5 I6 Q* g
但當經濟一差,公司估值趺了,物價不升反趺
; D' O9 p! l$ y' D例如剛才說10蚊的, 趺到得番9蚊,
1 m" l5 x. H0 j# a5 z% v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( z, s/ T+ z# A9 R& V" i
所以你就會覺得D錢好似蒸發哂咁
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- {" W2 H$ Y. o, T% e, n! `你都可以當標野咁諗, 個樣野多人可以狂升值, : H6 a5 o3 h* m8 k, E
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,   x, P, g7 V, B0 _4 y# l
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, c' n- T  `- h3 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
3 g& Q0 X: r9 g3 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+ N% A  V6 A, A
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 {# a$ q, L% f6 O) @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # ^+ V! M: d  k% Q4 a- ?
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. l( c) H/ |( o# P. D
咁你話d錢蒸發左去邊? ...

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8 P5 ?2 Q5 @# F% @3 i2 e正係咁樣
# p9 K; B0 ?9 R6 r# H+ z& W) c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  L9 f$ j/ v6 M0 B
分分鐘佢地唔使還錢
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; \. C) f: P3 T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 F( {) P$ {  r2 V, M連國家都係問人借, 不停發債券, 印鈔票' S5 s7 ]( T% M  c$ d* P
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ l) o4 y! T/ L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
  o$ }9 c3 s! A" w" U咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...5 X0 ^3 P8 q! Z  k% s
因為以前未生產, 先消費' n; z6 m: M) k. ^0 E: v& a$ F/ A5 {
而家就要多生產, 少消費