0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' {! s# u3 i8 f/ ]  `% g" S, bWhy bank will sell 借據給第三者???: a5 h  c4 [7 d" F- n1 r1 T1 B. d. K
I was so confused.....

% m8 {" |. x+ k7 f
$ s; l" m9 p4 }5 w, P( |講到尾都係賺錢: I1 m& L5 N( l+ e6 b& V
so銀行可以不斷放款
- y/ l5 b7 F( e. k: R美國的房貸問題散佈到全世界
' E9 K' T, I# s/ g* }
. `( p% J! k3 o0 @, T9 Cmortgage loan
( M1 L6 x0 `/ N* s>conduit
) z1 d5 c. C; f. k0 E2 a7 ?" q& Y>RMBS(Residential Mortgage Backed Securities)- `/ [! q) C! [, O
>arranger0 O. M* F% l8 D! k) |: J9 b4 B6 F
>CDO(Collateralized Debt Obligation)
" l$ j) ^7 }$ e7 r3 ?. H最後去到投資者

Kev

i thought it is the reason of rate of return.4 L  g8 N5 Y: m+ v
CDs could have different ratings, AAA -> F,
0 V  p/ P5 u1 s9 q3 g2 Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
2 H* @; E3 M9 j+ A0 k; I# Imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 ~' o8 {. V8 M& c- U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., ?0 v3 b7 T# |$ s& N# P  L
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 ?6 ^2 B8 v% D9 M  asimilar to bonds, CDs trading in the secondary market have different value at different times,
) A1 I% r" \4 l" hnormally the value is calculated by adding it's principle and interest. ; I7 G6 t% u7 i5 |$ _, p
eg. the value of the mortgage+the interests to be recieved in the future.
8 f  `3 Q3 m% X# G) @. d) fbanks 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 `& i7 g& f9 j5 g; a  }
1 a( ~$ N. q2 D; B
im not quite sure if the multiplier effect does really matter in this case.# {2 S7 ^2 ?, M$ F. H, y" f
in stock market, it's the demand and supply pushing the price up/downwards.
  _9 W/ O) p, B& y: ?6 sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 ~+ Q- K) t/ B6 o! r! MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! Y+ {* U0 _! Q
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.
. d# c/ \+ h& X5 a; o- K( nbut the value of their assets did really drop significantly.
, G3 K4 O/ M1 c4 L& m3 Y# P) Z0 n/ ?0 @( h8 ^
[ 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
9 t% u9 L) w: F, J/ `' LRefer to last example,
& P2 N( a7 i  Cthat means bank A have no money because we borrow 10 dollars from bank A
8 A- W* m" K( e- H: }Because bank A doesnt have enough cash on hand ) ^, s. M; O  A8 H" Y# p
therefore bank A need to be bankrrupt ??? Am I right ?? ...

9 d  `. E" Q4 C5 ?* ?- Z9 V3 u. C; Z
2 {; ?: c, Y) e  A. o
6 b$ p. A: r+ v0 }9 ]0 V" {( SA->B->C->D->E
( P  |- k5 A8 ~6 Y. j0 zso does it mean if E failed to pay D,
3 j/ H8 H" \% n( G: t# Iall the B,C,D,E have to go bankrupt?& H" P  l; S0 G

" C# F2 @4 F0 M# s; j
0 u8 V+ E; W# i4 }; ?) ]the multiplier just tell how much money created in a whole economy, 1 n, {% V' ]& I5 s3 l& i
in this case it doesnt really matter how much money is created,
, d! m% D/ ?3 V# ?$ {it's the problem of the debt itself.) G' P. W; @% m- x/ s" [
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.gif0 I( @8 {4 B" k- H/ F6 I/ x& A
小弟一直都唔明...+ }5 o2 C* m6 G8 u9 x/ Y

" g: b7 Z1 \3 Q0 c' k全世界都蝕錢，咁邊個賺緊錢呢?
3 n$ \! J) d- R" q
7 o" X6 H! ]! @- k無可能淨係有人蝕錢無人賺架嘛...
& @( I: U# z1 O5 x0 W
9 M) a+ R  m& o/ A敬請各師兄解答
' [! X1 V# L' d: J
2 e* J! R& g& X. _Thanks

/ Q: e- ^% W$ n1 W
那些根本係 紙上財富    o5 C. u8 Q1 k' r$ I3 {
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
3 w0 [, w  j+ |: {- A. o) C9 t" B0 B$ Q' A3 a
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
/ a2 Z  {) D& p. h4 L' [/ M( J4 g$ L當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! m7 l$ P6 X/ x: h6 b, I- C( N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# L; h4 a" |/ P& A( V) f
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ _3 r  R- \% C$ j* i& B1 U扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% X3 P9 v5 ?9 K! @; o+ @計番回報率就已經係50%,所以可以好好賺0 W# y# P, U) D* u7 i# a. `9 u
前提係銀行之間要互相信任先可以咁樣借法
6 t3 e1 g$ C/ I3 ^! ~5 ?同埋個市場既前境要係好先得& M- E$ X* a* N7 `- F9 L8 U5 l
但當經濟一差,公司估值趺了,物價不升反趺% q* V+ D9 s- F; j! U; l
例如剛才說10蚊的, 趺到得番9蚊,
7 C5 S$ m+ g# z8 k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 E8 \0 ]  R, ^9 c7 Z* E
所以你就會覺得D錢好似蒸發哂咁
$ I2 G0 N8 W/ E) p5 \
3 ?# M! E, Z% O你都可以當標野咁諗, 個樣野多人可以狂升值,
% A. q3 {  o5 J7 p: k+ z6 W) Y# v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,
2 L" K' Q8 e" `淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * Q& @# R! U' R" ?7 A1 e7 \
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
1 G+ D8 ]  |$ `4 T+ r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+ c& {+ r8 G/ V2 ?3 O! j& e* p  M
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" e$ l4 @  a; g" g- m% U) E& U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" D0 g; `8 i1 E: D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
7 Q5 t/ M9 y- _咁你話d錢蒸發左去邊? ...

# g' a( H7 {! l9 L* p
. Z5 ]9 u  O- I) [
正係咁樣
& d' N/ u+ x1 y3 N$ T, G* n6 g! [/ O, f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 j* O$ }! q! z5 {$ T4 ~) L  n
分分鐘佢地唔使還錢
% _1 O+ H$ \: j( A0 B' X4 x& U/ i( T! g* \" B# c
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,. a4 ~% C! `1 M( G4 u6 F
連國家都係問人借, 不停發債券, 印鈔票
3 B7 X% F/ G) X. j一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 I6 |( F) j( c6 G( c) P& b8 |
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
( Q1 s4 e5 }2 g7 L' N咁而家"爆哂煲"算唔算先至係變番"正常"???

0 c  X* q- V1 k$ Z0 k3 J0 a1 J; D, {) N# k" S, X
其實係...* E5 m2 B9 h% k3 d. Z( f  [2 h
因為以前未生產, 先消費* A: u" p. }; O6 F, X' I
而家就要多生產, 少消費