0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 d. N  k/ N! a( Z' c3 y# iWhy bank will sell 借據給第三者???; A+ X7 S0 {1 e  t# G, P
I was so confused.....

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講到尾都係賺錢
% V% g; C, d+ R- d* m1 Y4 }; i, Vso銀行可以不斷放款! [* }  ]. v- a9 }" ]
美國的房貸問題散佈到全世界% O! ?; Y' M0 }  U4 ~0 ?6 {  X! t2 p
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mortgage loan . o$ L: I; W7 s6 A4 w' |
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>RMBS(Residential Mortgage Backed Securities)
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: T7 D+ y. h3 U, n; X! N& W9 _>CDO(Collateralized Debt Obligation)- `; t: s$ A7 v4 I- _! Q) s8 t
最後去到投資者

Kev

i thought it is the reason of rate of return.
9 c/ ]0 g9 N9 p' V/ tCDs could have different ratings, AAA -> F,4 k" E' A5 y$ Z9 J, ~1 ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 J# l& j5 O& L' R; U: cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ G! O% s5 b  }3 Lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 j$ Y: i* p4 V' d
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 p2 o( x: z& s$ g. [6 k4 [
similar to bonds, CDs trading in the secondary market have different value at different times,& a7 f" l; \) N5 c- g0 a( e. W* j
normally the value is calculated by adding it's principle and interest. ' X: H$ N' d4 p: C
eg. the value of the mortgage+the interests to be recieved in the future.
# d, f' q, G9 |6 b* K1 obanks 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$ n0 G/ B" Q$ W
in stock market, it's the demand and supply pushing the price up/downwards.- |" o" x9 X8 y  B
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& _& ~8 Y* _% Z- MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. Y; M5 F. D  _* ]) D
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.
2 W3 v+ R/ s- @1 T6 k3 mbut the value of their assets did really drop significantly.7 d) ^1 w* s- e' u
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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
( s* \9 C4 K% c0 f, lRefer to last example,
; x! Z5 A' s- o8 I! Pthat means bank A have no money because we borrow 10 dollars from bank A % f! @2 F3 H# b
Because bank A doesnt have enough cash on hand
8 G6 k+ i. m1 Qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 e3 a4 E/ ~$ ?& x' S; b) ]
so does it mean if E failed to pay D,
" O/ h" Q- {$ }) v/ ]5 `3 Oall the B,C,D,E have to go bankrupt?* P1 o% f, m0 |; l, c/ u

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  i6 h9 P, e- o7 z+ P( Wthe multiplier just tell how much money created in a whole economy,
) }) b( U4 e; ~. n3 _7 Y, uin this case it doesnt really matter how much money is created, * G( Z+ d0 Y$ M' \
it's the problem of the debt itself., w* o% {) C- `
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
0 @/ I- U. E: {6 \小弟一直都唔明...8 o9 x5 m  R5 |' p- S8 q$ I

2 s5 o4 |$ G& E. e5 ]4 Z$ @$ h全世界都蝕錢，咁邊個賺緊錢呢?+ p% }! G7 u6 {; m/ D7 w" w6 P- L) k
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無可能淨係有人蝕錢無人賺架嘛...2 k# \7 q! _1 L; I( b7 N% U; o
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敬請各師兄解答
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Thanks

% ^0 H+ J" |: Y+ j  I% z0 K那些根本係 紙上財富  4 Y. o. g: j8 p0 R
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( V8 x+ r9 B9 j4 x0 O
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, N1 Z* F& d5 F5 ~0 n& m
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2 D2 y. Z0 @5 u% n
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 T0 z2 O& g  R+ F1 ?
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 P1 ]) c* g; @& D+ L
計番回報率就已經係50%,所以可以好好賺
/ f& h* M. @# d前提係銀行之間要互相信任先可以咁樣借法
. r9 F- I6 n& v6 h同埋個市場既前境要係好先得
& x( y# j  p: b( k$ ?/ b# e但當經濟一差,公司估值趺了,物價不升反趺
: N+ y6 p4 g/ B$ L  i6 m例如剛才說10蚊的, 趺到得番9蚊, . D  `; e4 l3 d. `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 Y6 K4 @8 t. j
所以你就會覺得D錢好似蒸發哂咁: `3 l" W5 t2 w6 P, h  X) V' @

  f! w6 ~: O$ z- H. d7 T2 |6 q' t$ I你都可以當標野咁諗, 個樣野多人可以狂升值,
8 h: a' G  ~. a8 s# T2 w3 N, k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, ' B8 ?$ o) N. S3 G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ u: O3 p+ R# U" h5 r6 x$ _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
, |" o! U3 W9 n0 w& F/ w5 ^! D0 V) B/ Q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
0 W, y7 N1 A2 s7 K' Y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ w: I- m0 c! N/ o' b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ n; h6 Z! T9 c* 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
" R+ k  \6 z* v. S咁你話d錢蒸發左去邊? ...

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正係咁樣
  W" b5 K2 l! ]) u5 t' v2 ^, i3 j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
3 P6 |) @, j/ E* h3 n分分鐘佢地唔使還錢
$ [( s0 e- K( v3 a
0 p. ^% f' z1 t% }; A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. K: Y; z  q
連國家都係問人借, 不停發債券, 印鈔票
. _4 L2 w' B) d5 D" U7 g, i一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ j# b! b+ _* U* F6 r1 ?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
/ [) X; B0 O: e& d( |1 z咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ @2 n7 h! K. d# [+ H- k" t其實係...5 s. W" L* r7 ]0 q+ B
因為以前未生產, 先消費; n$ m1 T& t2 D# a7 c: `5 B
而家就要多生產, 少消費