0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 r. ]; A$ }8 D) t- OWhy bank will sell 借據給第三者???
7 m- Z" `. Y# _9 o' F4 ~I was so confused.....

+ b6 R% v9 m! }. H' t9 y" m) k) A; \; r0 d9 q4 q8 Z* X
講到尾都係賺錢. M# z8 K  \' G5 a( J
so銀行可以不斷放款
% ?- ^9 Y) r  V& U- l2 j, W美國的房貸問題散佈到全世界- @8 _  Q' I2 S& [) Q" F
, a0 c( H0 j& _6 }% [
mortgage loan 0 h# t2 q: \9 ~+ Q( T1 C6 o. u
>conduit. [( a: Z; F) p9 T. u2 Z; F7 D
>RMBS(Residential Mortgage Backed Securities)
* u( \) w# N' Z( Y/ l>arranger6 M3 x3 T" R, J7 ^& z
>CDO(Collateralized Debt Obligation)9 F7 X- R! N; _- h4 A6 H! x: ]
最後去到投資者

Kev

i thought it is the reason of rate of return.
4 B" z$ L4 X7 t8 wCDs could have different ratings, AAA -> F,4 z( [3 d# O9 q7 ?! b7 Z, ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.. j; Y) g6 U7 T4 I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% Z5 F# I5 X$ j- t3 d' _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) y* Y  l7 D% V; R( z8 G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 Z( R) K# D0 h! C( ?
similar to bonds, CDs trading in the secondary market have different value at different times,2 W% ]- g6 q( u( F) j9 _+ A
normally the value is calculated by adding it's principle and interest.
: E, A5 M) Z; S2 \3 ieg. the value of the mortgage+the interests to be recieved in the future.
9 k2 F; E$ l, m0 Z  Ybanks 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./ h5 }: Z. s4 x: n/ D- e) r
3 t6 }: Q  q4 ^" D* c- ?
im not quite sure if the multiplier effect does really matter in this case.
' B" A' c  J! Q# O/ W/ kin stock market, it's the demand and supply pushing the price up/downwards.
/ b# F/ \  t2 @- u; N2 F/ TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. {4 m. T% {  L- }: uA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 z. g) d9 S5 |! {
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. ( u) z/ H3 K6 I* ?5 c" h1 ]
but the value of their assets did really drop significantly.
* I5 N: s+ I; B- ?/ e/ @
- J( U! z3 b2 X' P4 p[ 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
& I! D$ w' b1 _! h  i+ iRefer to last example,
7 o; A& c* T& z7 A$ ~" l6 ^5 A7 bthat means bank A have no money because we borrow 10 dollars from bank A 4 J- A. F+ K0 m# W2 }: `6 s' O
Because bank A doesnt have enough cash on hand ) Y& v: x9 v9 t; x8 q0 f3 H6 t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

4 u# d7 L9 m4 Z0 t

9 u3 @0 d, I" n5 k7 s) j  G; @; k. U) p* J% S, T6 k
A->B->C->D->E0 t) \# U/ u8 u! A, }; A9 ]
so does it mean if E failed to pay D, ) F: V/ k2 V8 [7 S/ q" _9 m, L5 E1 c
all the B,C,D,E have to go bankrupt?
/ Z: Q/ G1 E( ?/ J0 R
% m9 Q5 V3 j6 a7 W
# T* o9 o  J7 K7 Rthe multiplier just tell how much money created in a whole economy,
- v0 c) w  t. e! cin this case it doesnt really matter how much money is created,
9 \& f* r* j6 k# T1 p4 x; rit's the problem of the debt itself.7 f* l7 h/ {+ F" t9 l* |
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) @. V1 d9 F* u; i3 p$ p$ Q
小弟一直都唔明...
. w0 |. n! t- V+ w6 N- v- S! h+ d' m) k
- z' g$ M( U# \' a& A3 Q- _全世界都蝕錢，咁邊個賺緊錢呢?
7 c- o* l" `: V$ G3 R: m  F$ j8 h( C2 G6 ^; V! |$ O% K& e
無可能淨係有人蝕錢無人賺架嘛...- ?7 X/ m+ F! o  L

3 b2 V4 n% W# y0 x& V1 M+ h, m$ f1 g& \敬請各師兄解答
# ?' B" Y$ }, E" S# b% s/ ^7 r6 W5 r  |7 q  o+ h8 E
Thanks

3 y; L/ y; Y5 W' v3 S那些根本係 紙上財富  
4 D5 Z2 h, C* Q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( c% S/ l% ]0 l2 V3 E& n8 d

( g. }) a0 j, i! qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
, B  r5 p8 p/ y0 m; E, X* ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( Q2 `1 G- {7 [; l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: V/ ^2 i$ o1 N0 X6 |" ?4 F  ~9 A
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 B  t' B6 Z: f% x& b7 F0 F
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 u/ J; c" ?7 M! }' N" h計番回報率就已經係50%,所以可以好好賺1 L1 {. Y: c5 V$ u2 h
前提係銀行之間要互相信任先可以咁樣借法
# w& J" L1 h1 }- r5 g1 z( o( L6 C同埋個市場既前境要係好先得
) H7 c# P0 X/ r/ a$ i. ?但當經濟一差,公司估值趺了,物價不升反趺5 ?, R6 t1 e  e
例如剛才說10蚊的, 趺到得番9蚊, $ q9 D$ i/ a5 _9 s- i
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ _- Z5 f+ w' C. u! u! o% J
所以你就會覺得D錢好似蒸發哂咁, w4 r! O9 V$ r# {

. l+ i# ?  d5 D) \1 T9 y你都可以當標野咁諗, 個樣野多人可以狂升值, % }7 n/ w7 s, c$ J& q& X
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, & v  n  F2 \2 n0 i2 u& n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + D' W- v; n& [
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
) l/ I0 z4 ^1 ]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" P0 Z7 U3 I$ c' G
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 I: G6 O& z3 H) w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! f  g1 [, G' S- R4 L6 X: I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( ~* l3 i1 n& s* _) B$ |0 H! a6 M. L
咁你話d錢蒸發左去邊? ...

7 ^! s6 f% o! q' g- k  V
( `% e: C" J, W: ]正係咁樣
6 Y& N) J% K& Y. Y4 d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
6 x6 ~) c. x/ H分分鐘佢地唔使還錢
/ D: A6 T0 o; V8 I1 ~2 O( Z) x2 e) H6 w5 D& E/ y
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,
3 A. W- [; U& m  I2 F( @! i連國家都係問人借, 不停發債券, 印鈔票
, R& ?3 v$ r: m9 [2 q9 @一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 K$ x( @, y& l# T9 I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. \' W  W4 l8 f7 ^, X* O  ?1 T, U
咁而家"爆哂煲"算唔算先至係變番"正常"???

9 F8 r0 J. B- Y# y  T

7 _- F! m$ h1 L( V其實係...4 i1 D3 ?* t9 @. {; P0 S; l2 D* g
因為以前未生產, 先消費3 Y& l3 k3 a" W# j: j/ l& g2 N
而家就要多生產, 少消費