0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- A5 ~4 ?  V/ u! V" N8 Z! ~Why bank will sell 借據給第三者???
; w, E, A; E3 s. ^) |I was so confused.....

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講到尾都係賺錢. g1 C3 c1 ?4 D* G1 U! u4 [  _
so銀行可以不斷放款/ N, {" n- W; N7 t9 }4 d3 N5 A3 T
美國的房貸問題散佈到全世界6 D; I( Y- u6 }. C9 k
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mortgage loan
$ l3 b5 b, {& M  }>conduit* u( ?& ^3 z* i$ U
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation); D. h4 a% o, v; Q7 R1 R. V1 t
最後去到投資者

Kev

i thought it is the reason of rate of return.
! `9 I5 n/ K2 dCDs could have different ratings, AAA -> F,' c5 i3 P& d% Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.; r& W" L4 ^5 e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& m1 |0 f! R4 _/ v* S  a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 M1 U; j! u8 H0 h$ {. u0 z8 y( N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 {1 o: `% \( T  ~  F- w9 ^similar to bonds, CDs trading in the secondary market have different value at different times,. n: f5 R' k- k6 \
normally the value is calculated by adding it's principle and interest. 7 d0 s: M: I: X3 {/ n! G" ~
eg. the value of the mortgage+the interests to be recieved in the future.
3 M$ ?& v- Q8 c: G/ F$ sbanks 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.* `, l5 q4 T+ e+ M3 H& D

8 V! l7 M$ R3 V3 b% [/ Rim not quite sure if the multiplier effect does really matter in this case.6 J, t' u1 _7 v& b! ^" u, G$ H: ?
in stock market, it's the demand and supply pushing the price up/downwards.
# }. r0 `  T. p8 EFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& I! ?- O4 H, c3 p0 k3 q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 Q, Z: h; K7 x
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. 7 i# T5 l6 K) C! [9 V
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/ \$ ?$ I0 T2 ?
Refer to last example,# _) }; M2 j# e8 r
that means bank A have no money because we borrow 10 dollars from bank A
8 A: b- X7 y7 @7 _& q# z7 z3 Y- MBecause bank A doesnt have enough cash on hand - a0 I4 B! L+ K9 c9 Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% F5 T3 i& A7 ZA->B->C->D->E; I" C+ E  \8 u$ n
so does it mean if E failed to pay D,
. A+ k5 r; b4 fall the B,C,D,E have to go bankrupt?8 o, O7 Y7 G! l" L

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the multiplier just tell how much money created in a whole economy,
: l' B' `% i+ m; H$ B3 oin this case it doesnt really matter how much money is created,
5 R$ P' @+ n1 ?  w6 kit's the problem of the debt itself.
: ?2 l2 p% Q7 Y2 o; p3 u& athe 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( M5 [+ `8 F$ ?: J3 I* R. l; d
小弟一直都唔明...& \' @$ ?6 [, d  L" k1 R; ]

* M* [3 y/ t8 g0 p% c& X全世界都蝕錢，咁邊個賺緊錢呢?
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, v# Q- {8 v: F. b無可能淨係有人蝕錢無人賺架嘛...- }% A& Z( A9 d) E/ r+ z  n7 B
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敬請各師兄解答: A8 U5 ]# a4 K

8 h7 B, b. R" U) n+ d% {% VThanks

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那些根本係 紙上財富  
* ]. V7 x) F( V$ s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 graphic7 a9 b- a# L" o2 `" Z* k' a& O

) _7 b; Y% ~* `* ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產( M0 j) d* i9 ]$ N! D
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; G& m% p' l0 W) q! L" K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 ~- M8 K0 G+ R2 o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) o) O+ k3 H& q8 A1 l2 }5 g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; s6 ]3 X9 ?9 O: \) v" u計番回報率就已經係50%,所以可以好好賺4 t' t1 L7 T' V2 ^7 g5 Z
前提係銀行之間要互相信任先可以咁樣借法
& _- P  X1 U8 x2 z, L' A同埋個市場既前境要係好先得1 k5 |) E5 Z) T# s& A2 K
但當經濟一差,公司估值趺了,物價不升反趺2 |, l, d1 t6 \( f" k  f# N* I! |
例如剛才說10蚊的, 趺到得番9蚊,
# Z0 ]8 j; i% W. \5 u咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 S7 Z# c% [: M. B+ O" O5 L
所以你就會覺得D錢好似蒸發哂咁. q9 P& X4 @% Q' Z) P

! I6 ]' r# {7 n! A' V3 P% K! i你都可以當標野咁諗, 個樣野多人可以狂升值, # m4 h( Y& V' e1 ]1 R
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,
6 _7 Q. a# G5 [  u2 @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 }$ k4 g- r& I0 N* 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
4 M. R7 A' ^6 f0 d9 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% ?$ a. I" U1 Z" H3 K$ [# `" P. @
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ L% Z6 D$ O7 ^+ v( i# P+ z  T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! t9 r  b6 x5 @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
2 K9 m& h  }6 ]) k咁你話d錢蒸發左去邊? ...

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正係咁樣
2 ?( }7 D2 g$ o* o3 C) y) g8 O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
, e$ V* f& a% L& Q. ^7 z4 G分分鐘佢地唔使還錢" ~3 ~. E6 R, h: Q. t# w8 X

5 z- L3 K7 c- b6 t' H$ U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,
% b* u7 e% Y7 h$ |6 D1 R連國家都係問人借, 不停發債券, 印鈔票
2 p6 f3 ~" g: a1 Y一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- q0 H: ^- p0 u. p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 K& ~- U* D咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 j! B; E" o% S- F. \0 s) s& q其實係...
' p) h) X& b) {; Q, k# w9 d! c因為以前未生產, 先消費
* e, S% x: n: T. B& a而家就要多生產, 少消費