0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: B  \: v8 L( F& Q* v3 a
Why bank will sell 借據給第三者???- m; O* E1 d8 l# ]) K2 e- z
I was so confused.....

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5 i" G% `, _5 g# e' \6 C講到尾都係賺錢: [4 K1 j; L$ L* w* k$ y( L  \
so銀行可以不斷放款8 j) ~6 N& b# ~- ~) j
美國的房貸問題散佈到全世界
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mortgage loan
) `/ V4 I2 L0 f; S>conduit7 K. E: X" {2 t# ~2 Y. ]4 Q
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)( Y1 s0 h, X+ r- h4 b2 V; d2 G
最後去到投資者

Kev

i thought it is the reason of rate of return.4 |3 r7 }- s. V4 S# Q. w* {
CDs could have different ratings, AAA -> F,; a- m  x/ G" m: L
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 h* Z2 e, u# _$ nmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 s  i/ m9 z  V7 A, Y% cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ T2 d" L; ~+ G3 D
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 l% e8 ^; }$ X8 e! ^similar to bonds, CDs trading in the secondary market have different value at different times,
" d) E9 ]& E9 Q( c1 u& z0 @normally the value is calculated by adding it's principle and interest. ) R; @; }2 k! F5 x/ I
eg. the value of the mortgage+the interests to be recieved in the future.
. a0 v1 h' p  J; [/ Z' Ubanks 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.
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: A- }- r3 r$ ]4 @3 w: yim not quite sure if the multiplier effect does really matter in this case.3 H4 z% V, O, K* e: x
in stock market, it's the demand and supply pushing the price up/downwards.9 ^7 C. \2 @# a4 a6 Y- w* e+ z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 A0 ?2 `/ k/ ]6 J2 A& Q8 R3 j
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ b: @4 g7 ~* [, pThe 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.
: ?6 @! |7 l3 |2 z4 Jbut 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.gif2 T3 G9 \: c: }4 J
Refer to last example,5 g$ ~4 K( ]) |. o( Z' Z) d
that means bank A have no money because we borrow 10 dollars from bank A 8 w1 c  K/ F4 t' y% N6 z( _
Because bank A doesnt have enough cash on hand : m2 G; k) f5 Q; z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E! V1 K" V# |# I  W. v# U& T
so does it mean if E failed to pay D, ! k8 z! B' ~" F0 T4 K* w6 m
all the B,C,D,E have to go bankrupt?6 C% H! B" m: y0 u/ I

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. j& b8 p5 a( t5 }& r, H7 B% Uthe multiplier just tell how much money created in a whole economy,
9 ^+ Z5 X2 A: S% }& ~' l  i0 win this case it doesnt really matter how much money is created,
/ ?) J9 z3 r6 r" ]it's the problem of the debt itself.
4 q( R9 E; M7 C' e+ mthe 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.gif9 g$ X( m9 {& E  `" V1 ?
小弟一直都唔明..." r: X5 }" v& K% Y

" l- d. q/ `4 y( M全世界都蝕錢，咁邊個賺緊錢呢?
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( |; ]) X5 ]. i& c無可能淨係有人蝕錢無人賺架嘛...5 ]: I9 S' m  D& _/ S
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敬請各師兄解答$ r$ f9 U1 ~/ e; S! D

- p# B1 e( ^: g: jThanks

( ^. j! e! d; y' D$ ?那些根本係 紙上財富  " H' ^( n$ @+ i4 l+ \
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( H' t2 [9 B" X+ p& x$ [. A7 Z
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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
( c5 p5 p" _0 m- i, V+ ^; |當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! i+ s& P/ P* {. ]  N0 W0 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5 v' t2 m+ g* |) S+ E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, p. _: r: B( s6 Q3 N7 g  w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# n7 n: ]* g; |" _5 v
計番回報率就已經係50%,所以可以好好賺" P# R$ f- w; d
前提係銀行之間要互相信任先可以咁樣借法) f5 H8 M; c- h' E* v
同埋個市場既前境要係好先得
! a: R; ^5 m, D但當經濟一差,公司估值趺了,物價不升反趺
8 k& W# B+ k! W, W例如剛才說10蚊的, 趺到得番9蚊,
, v( |7 m- w7 n0 `* A. K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 z1 W/ Q& i' |+ n/ K
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
' G# ]7 T+ O8 E: C) D: b$ @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, , Z; F" P, s8 K) n9 h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   p2 b7 O5 G. j8 Z/ y; o
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 q& z& Y. S! b- L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
$ X# |  L- j& @8 g3 Q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) u- Q; ~6 Q2 i- y# s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ @# E3 b) }+ e/ 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
$ x  i' D  N' E- i咁你話d錢蒸發左去邊? ...

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* F/ G$ E3 L4 h% s正係咁樣
) H. C5 B- J$ S1 |5 [% R! ~' M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# U: ]3 P" M, Z7 K1 `
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,$ a1 t6 R$ y  y1 `& @* T4 s& N
連國家都係問人借, 不停發債券, 印鈔票+ Y5 y& T9 r3 I" Y. a
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 B6 b. [6 i! N$ b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- B! B5 F) o, Y, p  g; J: s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 E, ^5 _" [% @% p其實係...% u8 [; D* i: ]9 {5 I& W0 w7 |
因為以前未生產, 先消費
; x; r4 {$ Y2 E" l* G3 T而家就要多生產, 少消費