0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 }9 m1 X0 R1 ~7 f( x
Why bank will sell 借據給第三者???& _9 y( w  i: X" g8 ]6 H
I was so confused.....

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講到尾都係賺錢' K9 B. J& h$ `& s; E
so銀行可以不斷放款: V& n$ R% P$ @" W+ J
美國的房貸問題散佈到全世界
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mortgage loan 8 r6 i1 J- R) V
>conduit
/ l8 L( r5 I. e  U, L5 J. `>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
7 Q' j2 B. O/ l最後去到投資者

Kev

i thought it is the reason of rate of return.( |9 W: K$ |* y* s3 M
CDs could have different ratings, AAA -> F,& S. \# V8 m( z0 d
more risky ones would have higher premium (interest rate) as a compensation for an investment.
! R' S7 |0 [: Y0 I6 S9 jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 \! S# K3 Q% n. z# C
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.! M; z0 _9 G. n% _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 O$ T' n' G& {- ?7 Psimilar to bonds, CDs trading in the secondary market have different value at different times,$ ~6 s5 x! m* ~* Q; B% c4 Z% }
normally the value is calculated by adding it's principle and interest.
8 Z4 i; q+ }2 Z) Y+ leg. the value of the mortgage+the interests to be recieved in the future.
! j. f! A; ^% @2 J9 @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.$ z3 s+ W& |) Z) S
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im not quite sure if the multiplier effect does really matter in this case.# _' `& R* g2 T
in stock market, it's the demand and supply pushing the price up/downwards.
( ~# R6 X* q' `! k. yFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# s+ Z; O1 \% f
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 \4 X- Y6 @! v; gThe 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.
+ V) {; V0 K, |; Q2 y% mbut the value of their assets did really drop significantly.) j/ I0 k; Z/ s! k( c
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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' }/ r' V, c+ h) Y& h
Refer to last example,
; B8 K* j: w- V, K+ `that means bank A have no money because we borrow 10 dollars from bank A ( ^# v5 ^( l  h2 T% _! w9 V+ Z4 z
Because bank A doesnt have enough cash on hand
7 g# a4 ?$ C6 A' L# ^1 E, Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
2 Y+ u' C7 t$ z+ t7 h) Pso does it mean if E failed to pay D, 8 q( m# W/ u3 R4 k! Q2 F! G
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, 1 c0 w( ?! q4 q! _* L, ]5 n
in this case it doesnt really matter how much money is created, 4 U9 @) Y9 _( a8 C. B9 Q+ A
it's the problem of the debt itself.) v$ _0 v5 @1 z9 Y* B7 h* E/ Y
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
. y6 l5 V2 Y4 S* s$ e2 u4 b小弟一直都唔明...
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; l; I% k0 L+ a, d; V/ C全世界都蝕錢，咁邊個賺緊錢呢?
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/ [& q+ G# F9 j9 E無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答* A  U3 P' J* q: g  X( W1 f) Q0 X
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Thanks

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那些根本係 紙上財富  
3 S4 J8 i6 S. G+ ^6 N# y* @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 Z5 x# w0 v- i1 M+ y9 r

; Q, {2 f* U5 j$ T' n1 Thttp://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 M9 ^7 ~8 q3 s' t6 f1 e4 |+ q! e$ s
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ _% e. H5 ~0 B" \! x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" }+ a$ L$ }( f5 _9 n  o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 K6 a# _( P" p" v扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 ^) N* t* e( Q* Y# y: m1 Q  v2 L
計番回報率就已經係50%,所以可以好好賺3 m- ?' d9 C* k
前提係銀行之間要互相信任先可以咁樣借法! @7 f  W. ]* |5 }" t8 U
同埋個市場既前境要係好先得
& F+ W& x: l# C: h4 C' W. D$ ~7 p# ^但當經濟一差,公司估值趺了,物價不升反趺
3 T. m# Z& l; X- c7 F. Z) ~例如剛才說10蚊的, 趺到得番9蚊,
0 j/ o2 P9 o7 ^3 m4 j2 E咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  _: i  c9 s6 W* {' U2 d: D; X所以你就會覺得D錢好似蒸發哂咁6 c% ?+ v9 d: q0 z; O5 ^
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你都可以當標野咁諗, 個樣野多人可以狂升值, ) u# w6 u7 n' \6 ?" q3 f
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, ( [! E( W0 k/ H" U. Q4 e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + I2 ^9 G' s  \& 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
" h- s6 R7 c8 F5 n. d: E7 W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.gif4 u' D# q- s# C- H
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 }! u3 L- A5 `淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) k+ j5 l6 w* f6 v* ]* f; |
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
* h5 Z" X7 o) ?咁你話d錢蒸發左去邊? ...

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( ^. |) |+ Y$ k5 B3 c/ h正係咁樣
, h  f3 l$ O+ A- C) T5 E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) W0 {3 M. r& l/ q
分分鐘佢地唔使還錢
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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,
* P3 n$ |* G( O6 b  V; ?連國家都係問人借, 不停發債券, 印鈔票
7 K1 O6 a( q4 G9 |一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) o4 G$ n0 s1 x9 z
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- S, B  V. }: i8 k, N9 ?% n! x
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ L3 I& g, s+ F$ D7 L& O* v5 B; H其實係...; e7 ^* Q- K. t, [% Y/ Z7 L+ W
因為以前未生產, 先消費( \; x! M* P5 T- V4 H7 R8 r7 t
而家就要多生產, 少消費