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( H6 C+ n# y/ n: jWhy bank will sell 借據給第三者???
8 j7 Y: N$ Z  y8 n$ cI was so confused.....

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- h5 N8 C: n' h  @講到尾都係賺錢
5 p1 ?2 W# P" P* Y7 E2 eso銀行可以不斷放款; C: ?9 b% I9 c; i2 d9 z0 j
美國的房貸問題散佈到全世界
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mortgage loan - W+ e; l& x6 g0 G; D
>conduit
+ V. U' b: N4 d4 q& s7 `/ N>RMBS(Residential Mortgage Backed Securities). c( R! T2 e$ E! I) l! f
>arranger
' t7 W0 l% D* S1 |>CDO(Collateralized Debt Obligation)
* W7 P6 i9 f' ?/ Z( q! F! @' _最後去到投資者

Kev

i thought it is the reason of rate of return.: d( q7 e* S8 J" q
CDs could have different ratings, AAA -> F,
, a# o% v+ m0 Q9 M1 T# Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.- d; c7 e, h2 r  h8 t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; C( K) K0 a6 i0 jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 ?3 `: ~0 W( g
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 C$ ^  n/ |7 x% F( s4 I' P5 ?
similar to bonds, CDs trading in the secondary market have different value at different times,
$ o: q4 W  u( `) E4 c8 n$ `2 Onormally the value is calculated by adding it's principle and interest. 0 d' H8 ^3 y& R' d8 B
eg. the value of the mortgage+the interests to be recieved in the future.   t7 J$ r8 ?9 b
banks 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.( x8 F0 {6 C1 {; [9 \1 D3 t% ]6 c" i
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im not quite sure if the multiplier effect does really matter in this case.
* Z( s* S: c4 P4 w3 s; m. G6 s# X6 ^* Z* Hin stock market, it's the demand and supply pushing the price up/downwards.
8 Q' U" e9 W1 L3 gFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ y) K# ?- |: u" ~, w" `2 c3 mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, V9 e( q6 H: F  N1 m/ _7 Q  U. qThe 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* K0 ~! w: y: `% K6 N! e
but the value of their assets did really drop significantly.
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+ z* V& @" `) |' J& S1 J# C' i[ 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; ]7 P0 S. q5 t. X) h) T. [
Refer to last example,
. ?. i" r: @. m. y+ _7 Nthat means bank A have no money because we borrow 10 dollars from bank A + E# K' `! X4 ?
Because bank A doesnt have enough cash on hand ; `; }- v5 E3 ?% M& {: m, m3 S
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
% m1 X0 e0 k+ G% Z* k$ Jso does it mean if E failed to pay D, / |2 O! }: r+ f5 \* v3 f& G7 s
all the B,C,D,E have to go bankrupt?* |2 j# G# g7 }) X% P# r

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the multiplier just tell how much money created in a whole economy,
: e$ {7 A6 t, x) h0 p+ win this case it doesnt really matter how much money is created,
- J# |- H8 e( n% T/ mit's the problem of the debt itself.
1 A1 u7 x% ]) O  ^3 n6 vthe 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
" V$ c' ^0 M: a( u; `小弟一直都唔明...4 j7 s7 T! I$ k$ y
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全世界都蝕錢，咁邊個賺緊錢呢?
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/ l7 \% t( J. I6 [- U無可能淨係有人蝕錢無人賺架嘛...
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8 T4 ~5 m! v' m) V: @6 R9 ?5 `, q0 e敬請各師兄解答. O+ ?5 Q2 x% c: d/ w) d
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Thanks

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那些根本係 紙上財富  
, d, S2 Q9 s: {) s# z3 F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  l* Q" G/ J' r. i2 v6 l( Y
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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. S  p8 f4 L7 k: n9 h$ n" u
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  k) k( q  @8 D4 x% 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
1 ~" T! j0 [/ h- O1 Y, F個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* ?' @( z: p1 ~9 P2 F
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 e) M+ j5 |  p計番回報率就已經係50%,所以可以好好賺! w. f) i! H  {. F& Q
前提係銀行之間要互相信任先可以咁樣借法* s/ |0 d; ?; Q
同埋個市場既前境要係好先得
$ _' L  C  A) F. }" @但當經濟一差,公司估值趺了,物價不升反趺. F( S; {0 l# x. t5 c2 b
例如剛才說10蚊的, 趺到得番9蚊,
7 k3 i( F" j  x( m2 C" o6 a# h* V0 i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( j% C0 R3 C+ ]) q/ B0 E/ Z所以你就會覺得D錢好似蒸發哂咁% k- s+ L& D6 z, n

. w0 G) t" C, M$ g( J4 `6 w你都可以當標野咁諗, 個樣野多人可以狂升值,
, S: d2 k3 a& Z1 h! S' D3 H$ L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, 7 |) K/ S1 u  B! f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 x1 g1 |) v0 z! V. I: T  O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 t3 Q( r9 M' u8 {+ G
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- K/ B. }: R0 F* B+ I! @
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: N. _+ ^& N( l  I& y, C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , l: C) r: t" \, L  w: ]) \; `: E
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; L8 H& e; q5 a! `1 A' H7 V6 A
咁你話d錢蒸發左去邊? ...

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正係咁樣3 N/ c  i; m  c# d2 _5 n  ?! ^
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( |/ I* }2 |/ {) j9 X. _1 B5 c8 A
分分鐘佢地唔使還錢$ H0 Q; Q4 K6 ?  }3 ?
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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,( `" d$ R  @9 W6 m! c6 K
連國家都係問人借, 不停發債券, 印鈔票
0 x: M+ o6 U3 D9 r一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: p4 O; Z( ^% J! _
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, U$ {2 B2 p% J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 u" \0 L4 f/ g
因為以前未生產, 先消費
0 `2 z  H7 w$ v, A" F2 z  D而家就要多生產, 少消費