0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 c3 T' s9 l0 U7 Q
Why bank will sell 借據給第三者???
) O' d, J4 t  f6 O8 r  p7 ?- [  tI was so confused.....

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& G4 F' c0 j, A9 W7 `% g講到尾都係賺錢) q( z1 B" b" V4 V1 y' |! z
so銀行可以不斷放款& T7 Y- I. ?0 {1 E% Y3 q: x
美國的房貸問題散佈到全世界% c" Q& B/ z' O- e
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mortgage loan " X1 o1 F$ _* z, Z3 _; h  W: h
>conduit: C( K! C# K, r) Q1 @( R
>RMBS(Residential Mortgage Backed Securities)
4 @1 ^( |; S& W2 a7 g>arranger9 X# p+ j: @( w9 t3 w
>CDO(Collateralized Debt Obligation)
% J9 y0 _# x$ X最後去到投資者

Kev

i thought it is the reason of rate of return., h: V7 a- X$ F# i0 S1 a! X& g0 R# y; }
CDs could have different ratings, AAA -> F,
! ]! d# f( ^: \8 }5 Smore risky ones would have higher premium (interest rate) as a compensation for an investment.$ t6 B0 i9 X$ L0 N# @$ T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 D6 L7 v& v% q3 r6 T9 z* L+ min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* g2 ?7 l5 V' p% b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 l7 j- `0 b) B% Qsimilar to bonds, CDs trading in the secondary market have different value at different times,
4 Y! C- V+ I; b4 bnormally the value is calculated by adding it's principle and interest.   o2 m) B( T% ]1 ~1 c( z
eg. the value of the mortgage+the interests to be recieved in the future.
, C! N* R; Y6 y7 Z( v+ m7 R. ?2 v1 rbanks 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.7 J% p% B. r1 U3 v( X7 ~/ z9 R

0 p0 I7 f( @' r. v# U% aim not quite sure if the multiplier effect does really matter in this case.
; w( J) X9 O: F9 y3 Vin stock market, it's the demand and supply pushing the price up/downwards.
: Y. ]6 ^& E) v2 b8 n' tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' n- z4 B7 s9 ^; x2 b3 uA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ L9 {" `5 ?3 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. 1 ?/ z" X6 ^: M) h
but the value of their assets did really drop significantly.) s: K( F7 D8 H# p* j2 W% _

* B; g( E- [  O& g- J2 W5 h[ 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 N4 U" @  P+ j" uRefer to last example,) j1 G5 M8 e, z! V+ @
that means bank A have no money because we borrow 10 dollars from bank A $ `9 K4 w3 x9 ^9 E! Y4 q2 {/ Q
Because bank A doesnt have enough cash on hand + j. N6 U7 L; h
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# P) R7 F+ X$ GA->B->C->D->E
. X8 b, j$ Q$ s; Fso does it mean if E failed to pay D, * y6 ^" ^3 c6 A
all the B,C,D,E have to go bankrupt?" J2 V9 ^  T& X; `4 ?# S

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4 A- Y3 {  e! kthe multiplier just tell how much money created in a whole economy,
. j- }; s' q, K8 g9 Y- O; ], Cin this case it doesnt really matter how much money is created,
: d' u9 @% L' _- H1 d  zit's the problem of the debt itself.
) O; \" \$ B0 U$ ^2 ~! T+ e; Hthe 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
: l, L8 U" K% U8 z小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...; T6 g4 Q9 Q$ a0 B" t
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敬請各師兄解答3 e$ {' |; o: c0 ]
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Thanks

- f  E; I& p( K: O# f那些根本係 紙上財富  7 `* i5 ~; {9 P# h& B6 q2 @7 b; F* o7 C/ m
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& b( ?( V3 K. Y

5 ?$ E4 F& m9 m7 M0 A7 Fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 m& _. n' d1 {& |' e) T
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  D6 v2 @- _* \" ^5 s' R* y
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
. Z3 |6 _* B5 F) D個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( Q2 a5 C6 I, \2 ?" _& p: R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, o7 L: l/ T. n& l7 h計番回報率就已經係50%,所以可以好好賺
# f/ o. J1 h" G% d8 ^+ K* P' U/ C前提係銀行之間要互相信任先可以咁樣借法( o' A& U% y8 r7 O- J
同埋個市場既前境要係好先得( t1 B8 T* L/ q3 v$ J5 t
但當經濟一差,公司估值趺了,物價不升反趺
* t& V, w' \% e3 D1 a& p3 Q例如剛才說10蚊的, 趺到得番9蚊,
5 O) ?% y4 a; z/ y4 ?% Q6 m; _咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 H+ \+ v* _* r3 o  ?- |  m1 |+ b4 `
所以你就會覺得D錢好似蒸發哂咁2 v) t& s1 D. u. o% }( ?# y0 w6 [& R

$ O' x. C/ s* I9 R+ t你都可以當標野咁諗, 個樣野多人可以狂升值, % o2 F0 X  L" x) h
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,
8 b# o; u( x5 c/ N* p5 Y: f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " ]) c; K' n6 N! f% j
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% K! q- }+ T, |" b1 S
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% N3 o; V! p8 I3 |( f  R* k
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 h, ?  L/ B( v' _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! P" S% Q( ?* w: j
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
+ E7 H# V+ w% ]& W: t5 q$ ^3 c咁你話d錢蒸發左去邊? ...

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9 l5 Y3 ^. z4 m" z/ s$ {# o; L正係咁樣/ A: u4 g( \2 }' {7 C; r
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
, D  M% s8 f4 t. N- }$ u分分鐘佢地唔使還錢- W" K0 T7 w. u3 E% _! y" s
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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,
" F  F. y. n5 @# ~8 r3 S9 Z連國家都係問人借, 不停發債券, 印鈔票
* U' O. Q6 O* ]2 t! {! J: X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 n+ J3 }8 X. G
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% h1 b6 ?4 P/ _: |
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.... R; ~% J) y0 B6 P7 n1 J% T! s4 Q
因為以前未生產, 先消費
4 l! J7 m) k* _8 B' E& v/ ^而家就要多生產, 少消費