0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 ]! f" A3 Y  aWhy bank will sell 借據給第三者???, z7 U5 N6 ~& S% f4 c8 I  b
I was so confused.....

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6 `; z; g5 R4 B# J2 ^/ i. `講到尾都係賺錢( |! z6 C5 F' g2 U6 ?4 y0 `
so銀行可以不斷放款! ]! G9 v+ Z$ L
美國的房貸問題散佈到全世界
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* |2 P2 H! \( \1 Emortgage loan ( D3 ~! q( p8 Y. M$ L. i
>conduit
+ V$ r" i1 I1 `0 e, c- l; L# f>RMBS(Residential Mortgage Backed Securities)
+ H8 R. X, E$ S9 Z/ Y9 f6 M, a4 h>arranger' c+ J) }( g; Z- k% t
>CDO(Collateralized Debt Obligation)0 N( n0 M9 T/ A8 m
最後去到投資者

Kev

i thought it is the reason of rate of return." C% h; w# E- w0 M; c
CDs could have different ratings, AAA -> F,: ]9 E/ s! z, R+ L5 E+ A2 G: [
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 U, r, B# \. |, Y" f# U9 l  v+ {
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; W/ {0 W* V, Z  y0 Vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# ^  k& T8 F$ ?% N4 ^. G' YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 C" l3 c/ d) q  t/ r5 Qsimilar to bonds, CDs trading in the secondary market have different value at different times,5 m5 F0 y. [: W
normally the value is calculated by adding it's principle and interest. % O5 @) S/ x& g. d# x
eg. the value of the mortgage+the interests to be recieved in the future.
$ P% ?6 c! v- a8 h! 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.9 Y: e0 A) O+ f& D8 L7 R

" L+ o/ s$ D3 Z& Mim not quite sure if the multiplier effect does really matter in this case.
4 r/ d* U' b" t. {6 R$ Z& F( `* Tin stock market, it's the demand and supply pushing the price up/downwards.  z. q4 K$ g$ q/ L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' j, Y9 D; B, G
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." n9 j4 h  o1 u* H' R$ }: z
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.
& G, \8 |! Z: Mbut the value of their assets did really drop significantly.
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' Z% @! f- C6 B[ 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/ n( ]* g& u! I4 D1 C% D% b
Refer to last example,
" M7 V; }( I% k- l3 y+ y8 Wthat means bank A have no money because we borrow 10 dollars from bank A
& t% h% G0 ^2 t! ^( K- B) QBecause bank A doesnt have enough cash on hand 6 _8 Y( j% C3 Y$ Y* F
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% h5 {  P. W4 u" ~5 C) e, E
so does it mean if E failed to pay D, " p* n& H6 u" W$ y) Y9 `
all the B,C,D,E have to go bankrupt?/ Q3 ^4 [! d9 _5 `# ]
) u2 y. c  l$ y

' [/ Q, j9 D6 U& a$ \  ?the multiplier just tell how much money created in a whole economy,
) j9 x9 v& F# X3 ]in this case it doesnt really matter how much money is created,
, W8 i' Q6 k$ }5 E* y+ k# vit's the problem of the debt itself.) s/ G4 d+ y5 B$ q9 K  e
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
: @- V. m" H4 M+ o1 a# }小弟一直都唔明..., R" O/ t1 ?6 Q" J  j

; H& j* h0 N7 z% Y+ q) i全世界都蝕錢，咁邊個賺緊錢呢?; ~. h3 L, e! P
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無可能淨係有人蝕錢無人賺架嘛...) J. N7 F/ w# c9 l5 H: d

6 j9 v+ Y/ i; g5 y) b2 w$ }敬請各師兄解答& c- ^  H" i1 O' ?# _9 T0 @/ \
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Thanks

% m  q5 I: E7 ~那些根本係 紙上財富  
6 _# Y: l& E: i( v! 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 graphic2 o, ~# h8 d: f3 Y- V5 }; _& w

: O; Y7 j8 ]( y% P: B- Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產; t# L0 n% N7 d7 ~4 l
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 v6 G* [7 R& F6 l2 a, 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) |# G0 x" D+ t3 I- d
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  U2 I: q0 s& U" X. Q& c& ~, y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% Y; Y% e6 q9 E0 o4 W( R
計番回報率就已經係50%,所以可以好好賺
$ u. Z) ?9 o9 K7 X% T前提係銀行之間要互相信任先可以咁樣借法# l- N0 `( U% g
同埋個市場既前境要係好先得0 K8 P$ ]. B1 Q/ x  W0 {
但當經濟一差,公司估值趺了,物價不升反趺; P( p8 n# I/ w& g% w  l7 c
例如剛才說10蚊的, 趺到得番9蚊,
: Q5 }7 T' Y0 E' p咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; y5 u; u- e/ ?% i所以你就會覺得D錢好似蒸發哂咁" P- H/ h% V3 `* p( L
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你都可以當標野咁諗, 個樣野多人可以狂升值, ; [6 y6 ?- w, i( ]1 L0 ^2 {) X  h: B* m
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,
5 H) @( p+ m( r9 ?' P; p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- W$ h  Y/ M& U  r: D, D5 F5 E) c8 m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 g" S( w  ?' n2 b! X# R/ B2 I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.gif5 H8 n: b5 Q8 Q- y+ Q! T
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) C" K5 |" J2 w* L7 }7 j5 z) I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) L+ w! o( v  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
4 I. H2 ^  e/ F0 A& U6 }5 a% p9 {& p咁你話d錢蒸發左去邊? ...

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7 l; U6 \5 w+ m7 O  V5 P4 G* g: E0 D正係咁樣
9 D- ?0 b# V  J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
$ ~- X) B* K1 c$ o' c分分鐘佢地唔使還錢
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2 b$ t3 d& @$ e6 l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,; @: E! Z# }. z( h8 j
連國家都係問人借, 不停發債券, 印鈔票9 g( w+ r; R; }9 ~" F8 M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! g5 B; e' {2 ]5 O! P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
% y; ~5 x- e/ x3 y  V. g1 F9 c6 w咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
5 u7 X2 F& X3 ~9 U因為以前未生產, 先消費; b3 q! \" j) b: W7 N- c
而家就要多生產, 少消費