0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" ?2 y6 x7 J6 [! p  B8 |* tWhy bank will sell 借據給第三者???
- b9 C0 T+ z" ^, L$ I( m& D0 nI was so confused.....

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講到尾都係賺錢1 L3 D2 L/ Y  Y
so銀行可以不斷放款
' E2 y3 E% u3 r& m9 M美國的房貸問題散佈到全世界
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' ~) Q$ Y0 C1 x8 [1 s; L( Cmortgage loan
6 @. m: T5 @2 @% `+ @' B$ R>conduit
7 M% z5 l" ~5 l3 q$ Y  N0 Y$ A>RMBS(Residential Mortgage Backed Securities)' Z  G: l, h% p; T
>arranger: S1 u) s7 g' u4 m8 `- s
>CDO(Collateralized Debt Obligation)
8 S$ E2 I4 f( W: j. k$ v* y最後去到投資者

Kev

i thought it is the reason of rate of return.' N- \  T: Q0 a* Y) W
CDs could have different ratings, AAA -> F,
8 u0 [7 r" M( z  _( ?1 qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ Q: z& r1 X% W& j3 rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ f) [" h  q% t- v3 }
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 e- O2 }; a& z' K4 z; n0 ]$ O1 v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. ]; u) V# L8 a3 A
similar to bonds, CDs trading in the secondary market have different value at different times,( c4 B( O. G7 I- L) ?7 M# l7 h4 T
normally the value is calculated by adding it's principle and interest.   v1 ^% Z+ L* x0 G4 ~
eg. the value of the mortgage+the interests to be recieved in the future.
: S: z2 @( d5 O( c$ C- s) nbanks 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 Q% U, u6 i8 ?4 Y
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im not quite sure if the multiplier effect does really matter in this case.
2 t9 t: |3 R- k7 o1 x& a0 j2 ain stock market, it's the demand and supply pushing the price up/downwards.7 Y! t& i; s5 H9 w8 k! C
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; T. T, P6 m8 ^' ^; }6 R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! |- h0 ?- w" T9 C7 C5 eThe 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. 5 V/ _( W! G2 U& c, Z9 K5 ^
but the value of their assets did really drop significantly.' c1 z) o0 u, |5 v: i4 B
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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.gif4 [, T) w# r  R+ p) }' }
Refer to last example,
8 C. p6 P: e1 e# j8 G! j$ N6 Fthat means bank A have no money because we borrow 10 dollars from bank A
2 S6 f- G' m6 V' `& GBecause bank A doesnt have enough cash on hand
+ C! ~) v. S+ R8 v$ ^therefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 {5 |* N; I$ kA->B->C->D->E
2 p; r; y2 P6 X2 ?; F$ P8 F# tso does it mean if E failed to pay D,
" g; H* o5 f8 s- i: z9 M8 ?all the B,C,D,E have to go bankrupt?
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8 G: k" s' b0 A7 F2 f8 ^7 Gthe multiplier just tell how much money created in a whole economy, ! o+ U$ Q$ ~5 `5 j* o# ]; W
in this case it doesnt really matter how much money is created, 8 {7 b' [3 d7 [
it's the problem of the debt itself." E/ \) D3 {7 G/ D. M  a
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
6 j+ |" k  }. l$ O+ K' w1 U小弟一直都唔明...
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+ g. y( }2 j. O3 F- v1 _) L2 N& e全世界都蝕錢，咁邊個賺緊錢呢?! N* F  }* N8 g1 d1 m% f, q

9 ]8 k! B  R% n" e  S3 K; F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' f" W- S* U$ a6 ?- G

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那些根本係 紙上財富  & [7 ^* V' D& w
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 graphic0 c# L# w7 s( H( i6 X% x/ {
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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4 [# G0 |" K, b/ E  b
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  T+ S! a* w. V3 E0 X2 K4 S7 b
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; R) A; h8 B. V: D. |
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 c: o% V* w1 p4 {
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" z1 V; e" U! G. N, L- I計番回報率就已經係50%,所以可以好好賺
0 ]( D# a' _, H. w5 H% ~5 g" i前提係銀行之間要互相信任先可以咁樣借法
/ C) z3 b3 ^9 Z* j" S7 B同埋個市場既前境要係好先得
( s4 f2 Z' F$ A0 K( E但當經濟一差,公司估值趺了,物價不升反趺
0 m% h. }) F5 u( ?  G$ U0 I2 s例如剛才說10蚊的, 趺到得番9蚊, ) B4 d0 R- c( {" x
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  D; f* a+ q% U4 s0 g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, ( b* b7 y3 |, S+ ?
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, ; }$ S0 b5 D% i- ~. t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 h6 p$ m) p( s; D" Z. `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
* |/ ^! |5 A) d. _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
! T5 @8 w  e, D" i唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 D- s, o  c6 W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( e/ I( S8 y3 Y0 H, [
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
" ~  C0 D8 v$ `咁你話d錢蒸發左去邊? ...

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正係咁樣& V) ]# A5 \  m3 R0 g& L# e! @4 w
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
4 H: }, R' q$ G. }# ?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,- l1 c. F: I3 ?  V0 P
連國家都係問人借, 不停發債券, 印鈔票5 C0 a: U, P" \( s( p% q! {9 y
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! D0 d  `* ?$ J3 `: P1 v
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
5 J3 s# R6 S$ l  F2 u  k咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.../ _$ b2 R0 N' k9 Q
因為以前未生產, 先消費  {: ?* E0 _5 o3 Y
而家就要多生產, 少消費