0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ J6 Y; j; p. ~5 {' Q. E7 XWhy bank will sell 借據給第三者???
0 Q& x5 p/ R# EI was so confused.....

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' K& N9 ]5 J2 \& M* V) T( u講到尾都係賺錢; D1 h; h! r* [* p5 t6 b
so銀行可以不斷放款
# v2 y6 A- {$ x- @0 A) ~美國的房貸問題散佈到全世界! Y* [6 P- k( V

2 }1 j5 H, f- M( B/ zmortgage loan
% F/ V5 c" a& O1 o>conduit
+ R, Q1 z; H* i" v3 `. m>RMBS(Residential Mortgage Backed Securities)
& ~7 ^8 d0 P$ I3 q; M: T>arranger, H  G2 K4 w4 z  t) Z1 ]
>CDO(Collateralized Debt Obligation)
* `2 S8 Y  z' P6 o% _& h最後去到投資者

Kev

i thought it is the reason of rate of return.
. ~% ]2 U9 Y, p' X9 MCDs could have different ratings, AAA -> F,4 X( W" F  k/ v/ z
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 y+ c* V9 [- W8 e3 O# q1 O" ^; I, @
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 E$ e0 ?2 \1 m: J: sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ ]% @5 E+ Z8 u- R  B, y) n: H$ ^. IAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 H' V0 l1 R7 N2 Q4 G
similar to bonds, CDs trading in the secondary market have different value at different times,
0 z; j; K! L1 M  ]$ @7 pnormally the value is calculated by adding it's principle and interest.
6 A0 _/ M. `( y4 o2 k$ \eg. the value of the mortgage+the interests to be recieved in the future.
1 p3 Y; }* [. Y3 kbanks 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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im not quite sure if the multiplier effect does really matter in this case.& y" e4 w  k0 ]( j
in stock market, it's the demand and supply pushing the price up/downwards.
$ ^% j  h7 t8 D2 v% NFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* |9 z8 J' K% Q5 I- W1 BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 K; d% @% Q: @
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.
! i% s3 E/ Q3 q  U" h3 a5 }but 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.gif
5 j' k0 b1 g' C: N' [Refer to last example,1 L8 b; U( S0 h- h' X! W$ E+ P
that means bank A have no money because we borrow 10 dollars from bank A
0 l  W; y* N5 S7 _8 F( QBecause bank A doesnt have enough cash on hand
3 `6 @. u: t8 Dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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' b0 G& N7 }9 t, z7 L# BA->B->C->D->E+ y! F1 A1 @- n6 S  w9 A, B7 f$ Q
so does it mean if E failed to pay D, 2 v% R8 l9 D+ p( v2 _
all the B,C,D,E have to go bankrupt?6 X7 J) q% t- H0 z: W% ]' h. J
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the multiplier just tell how much money created in a whole economy, 6 j  d7 V" o, |" `& W) [# e* l
in this case it doesnt really matter how much money is created, " s1 t/ E. Z$ m1 c2 {1 h4 F
it's the problem of the debt itself.
8 m4 j& q2 s  F' B+ b) Othe 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* m. }. v1 q# s( V% f
小弟一直都唔明...
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0 u2 g" F, v( L( K' ]; h* I全世界都蝕錢，咁邊個賺緊錢呢?  Y6 `* B# j- Z* B

+ ]" f$ W* j% _# V1 Q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; x% C) }3 N5 H) l9 E

; a. [' n$ r, A8 qThanks

! d1 v; E# I2 c0 B0 T9 J  k
那些根本係 紙上財富  6 {1 M! Y* a8 {/ y# i
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
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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, o# \2 @# j# X( B: d7 P/ H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* |, S# K" X: X( 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; U* w: F0 Y$ w. S$ d: S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 J3 F) U' O% s( I- y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& V4 @* O- r* S, x7 W
計番回報率就已經係50%,所以可以好好賺
8 V6 P& F, s/ J, j前提係銀行之間要互相信任先可以咁樣借法
+ G+ V0 F8 i" f同埋個市場既前境要係好先得  C2 K# b+ D  I6 r
但當經濟一差,公司估值趺了,物價不升反趺
; J( [( T' b  L1 g! W例如剛才說10蚊的, 趺到得番9蚊, ' _  w' ^  e) b' w! q
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ Z7 @" W0 \! I所以你就會覺得D錢好似蒸發哂咁
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- ?) J" r5 H$ ]- T你都可以當標野咁諗, 個樣野多人可以狂升值, 0 I4 p, s, o/ s) Z3 F! T7 N
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, 9 C( \" B- F" c  N: |/ e' i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & p6 n. H& O) y
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
6 k" ~3 e+ c# e) S3 G$ g2 H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
+ H' @2 |# ^. L$ O( p! g+ {唔係d錢蒸發, 而係比美國佬洗晒未來錢, / ^! [' {) L  c& n. w% z1 Y5 p' ?
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* Z& a! @9 l; ?+ H) _7 _2 @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
, }8 ]- K# q, O+ _1 ~) n咁你話d錢蒸發左去邊? ...

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正係咁樣
2 j* r- z/ R5 G- D: y$ u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
+ r  y/ q8 B6 P2 I! l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,
5 H2 U. K( |4 Y連國家都係問人借, 不停發債券, 印鈔票8 c5 N0 {, @" M6 @: w/ H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- s# c% \5 w3 Z+ v. r2 e
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
7 f' r5 W; D7 S: V5 o6 y8 J咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
( G: L1 ]$ y% N" h7 M- |" V( y因為以前未生產, 先消費
! D  k5 q. T+ P而家就要多生產, 少消費