0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 T  @* A1 j8 m; q' X4 @; z  ?Why bank will sell 借據給第三者???( n" O  ?" [5 u5 x6 V
I was so confused.....

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講到尾都係賺錢9 B. M( K6 l/ U$ F6 L3 ^
so銀行可以不斷放款" l' z6 ]# g8 g, r! c. r% w* o# A
美國的房貸問題散佈到全世界" B5 ]* Q; s" M  O

1 q& f* J( P8 |; j: ^mortgage loan 0 l- Q- X; ]0 |. v8 W  b5 K% J6 q! _
>conduit; b* D: T) P& b; B; }9 r6 C' f
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)3 m7 N! b% k# P
最後去到投資者

Kev

i thought it is the reason of rate of return.9 X/ m/ C. Y: l
CDs could have different ratings, AAA -> F,  M* r$ R0 {, Y4 n% x  b1 [% j
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 R) e7 r; M+ r# e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: ^( i/ A5 x$ `1 B" b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" z8 ?0 W( A$ B; K# IAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; P. G7 M* h* ^8 Z1 {7 [9 Dsimilar to bonds, CDs trading in the secondary market have different value at different times,2 c2 u0 }* p5 Q- Y+ L6 o
normally the value is calculated by adding it's principle and interest.
$ ~1 \6 d7 D& B5 W1 V' `' N6 ]4 beg. the value of the mortgage+the interests to be recieved in the future.
$ c* f! R  T( z) F$ hbanks 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.
, P5 W  \$ ?. tin stock market, it's the demand and supply pushing the price up/downwards.. `6 T, m  x$ D# x' ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 ^  ~; `3 n5 ?  e
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
  C7 L( z9 E5 Z& l) ?: f% ]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.
" v7 X5 O" ]! ^6 z) _3 `. L9 O; n, @1 hbut 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
) X) c8 n  g4 e! L/ H6 YRefer to last example,
$ k: M, O. {* o: `that means bank A have no money because we borrow 10 dollars from bank A
' [" S3 V2 `& a/ k% t7 W6 C" DBecause bank A doesnt have enough cash on hand 5 C& G- J; c+ |2 K+ W0 Z* ^7 Z# \
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
7 X$ o' r: `) I2 Bso does it mean if E failed to pay D, ' O' @* G/ q, o+ _1 _
all the B,C,D,E have to go bankrupt?+ G% z2 R. o% u0 v- M' @4 u+ z

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) P% E& |' v. u, Q* Kthe multiplier just tell how much money created in a whole economy,
; W' |7 L) {; r4 d7 Sin this case it doesnt really matter how much money is created, : O* c: V! k! y8 E8 ^& r* {5 O
it's the problem of the debt itself.* C% W* `; A2 T# N  h4 e% K; Q
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' l6 o1 e6 g4 E$ y  |
小弟一直都唔明...
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, ]% k+ x' x+ d, O* K% V全世界都蝕錢，咁邊個賺緊錢呢?
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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
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Thanks

3 E' C. I: k. Y+ l9 O$ U" {那些根本係 紙上財富  
# i# g5 Y7 j5 Q0 A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- ]. }/ @+ i2 _: r$ a' o
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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
( m- \2 v% C& x& e當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 i4 A2 h( q. j
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# |3 K, T% v( H4 q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ T, j$ I& L# b# J, n1 f& E5 Z  j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) f. v/ p* e9 g* T( L  |& d4 V計番回報率就已經係50%,所以可以好好賺
1 I4 i3 f5 T5 k  @5 o5 D前提係銀行之間要互相信任先可以咁樣借法
# d+ N& `8 n8 I# X3 o3 ]& R同埋個市場既前境要係好先得
9 e8 e0 w  K2 s8 Y! x但當經濟一差,公司估值趺了,物價不升反趺( [, W( p2 _6 F7 w! Y* k
例如剛才說10蚊的, 趺到得番9蚊,
! K! T# s: j8 ?& K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) s: H+ n, O( A  o; t2 V所以你就會覺得D錢好似蒸發哂咁8 I  {# K7 l0 G8 S, d# p% w

8 w; U4 }( A  f你都可以當標野咁諗, 個樣野多人可以狂升值, 1 F3 `+ S: s  I& Z
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, 1 X# L! ?4 u) r* t# Q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: K2 G/ t3 \5 {; N3 }- ]# a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 e; F5 t. T& 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
5 `* ]+ l. p# \6 I2 g唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 O. I5 a! E; C1 }- H9 u) r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : E1 J& ^2 d0 y# E1 C
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 @0 u8 k, V( s" P" L$ O  V
咁你話d錢蒸發左去邊? ...

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正係咁樣6 V0 Z$ u1 w- r. [# N4 Q: J. w% G% V
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8 Z! O$ v! |6 t2 c: ?; E% M
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,
; `' m) s4 M5 P% x: V$ h2 C3 W3 f2 C連國家都係問人借, 不停發債券, 印鈔票% P/ w9 y! y+ Q* y) V* {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* W; q! M7 v7 u) ]* o1 a' 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) E' @- g- w, p* T, @. ^, h3 M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ Z4 N0 Y( D" Q5 F5 r0 G其實係...
& {! w: [: @  O) I因為以前未生產, 先消費
* t) {8 }1 j2 t而家就要多生產, 少消費