0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! ^  u  D% }; i" I# e6 g4 T: u
Why bank will sell 借據給第三者???
7 ?7 }0 h( \4 X3 _2 DI was so confused.....

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4 |2 ^/ ?" |) a% N& K2 U- x+ g講到尾都係賺錢1 i  x. w' S3 ^
so銀行可以不斷放款
, q! o5 [& {; R6 U/ w, ^! i美國的房貸問題散佈到全世界
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5 Z5 G7 |" p9 b3 _6 v" s# Wmortgage loan
" p2 D, Y" D5 U5 v& k>conduit" e/ R( o1 R0 }
>RMBS(Residential Mortgage Backed Securities)! `. X% c9 Z0 |: ]' F" M4 F
>arranger
% j+ g' _/ q! Z5 u$ A>CDO(Collateralized Debt Obligation)
/ n+ Z; d$ ?, t; E) E; a最後去到投資者

Kev

i thought it is the reason of rate of return.: a8 P3 I/ H0 I( Z, v
CDs could have different ratings, AAA -> F,; v1 s: F2 g7 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.* q- v- ~& m. h& O1 f
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  `0 R7 {8 x3 Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 c9 o0 q& R% d0 HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ b9 ~0 w7 N5 E( g2 U
similar to bonds, CDs trading in the secondary market have different value at different times,
4 Y4 y1 N/ D" vnormally the value is calculated by adding it's principle and interest.
6 \& K6 u$ q4 K2 G* P4 Veg. the value of the mortgage+the interests to be recieved in the future. ) U3 T! U+ B* k% t. p. o4 L+ w
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.0 z. q3 u6 M0 y

# Y% ~! L! G, |0 yim not quite sure if the multiplier effect does really matter in this case.
' f' L# ]( y. h4 \: u3 \7 ain stock market, it's the demand and supply pushing the price up/downwards.6 N& Z4 [3 _& N
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& b9 ]7 J3 Q& k  g5 O% ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& v2 h% d6 @) y$ G
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.
' e3 U$ F6 \- c$ l1 d2 b# Tbut 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# u3 T, d# P. I4 v2 E/ x' [
Refer to last example,. t0 F* U' y5 P6 P
that means bank A have no money because we borrow 10 dollars from bank A
: W0 ]4 s# Q7 h. |* y4 z8 UBecause bank A doesnt have enough cash on hand
" M" Z- \) C7 a: F; b! t  ?2 j3 z! `therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' @% w( v3 Z5 A1 G0 uA->B->C->D->E
4 ^1 ]4 \( F' }. cso does it mean if E failed to pay D,
* N, n, _6 R  o+ a: \all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
0 ?" F, b) K6 T0 e8 `! Kin this case it doesnt really matter how much money is created, * S8 R0 g1 G, O1 l$ q
it's the problem of the debt itself.
9 f1 ~' a5 T3 x: h1 Gthe 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
, p' a0 t9 l- G" l2 R+ N) A; A1 }小弟一直都唔明...
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+ r9 _. _; M, _8 J) y1 e9 y全世界都蝕錢，咁邊個賺緊錢呢?
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5 h5 D; J8 c+ d! d  e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2 I! W- ?5 C# {, T5 b$ g

9 ^, n: W+ x% e9 q1 H  F& s+ M# L0 l0 aThanks

) c# W7 `. ]3 Y9 _那些根本係 紙上財富  # y* H9 v$ _, l. o( ]
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# }- {% o9 _+ k& `' q" d( ]' y

1 M' j- E' d# ~5 ]7 ?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5 {" o3 L% u5 v3 j! e6 M8 I+ b  u7 H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 a- m; G8 a' ]' N, G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
5 d/ g8 S" ^1 O; d( s$ ^! ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 m: _: M  ]0 k6 X( v* @, e扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! n" M8 V3 s; B& S6 d( e5 U
計番回報率就已經係50%,所以可以好好賺
/ }1 i9 G9 U4 O; o前提係銀行之間要互相信任先可以咁樣借法
* r0 w# i0 P+ z同埋個市場既前境要係好先得; W& ?6 O4 ^  Q7 \5 ]9 s# e
但當經濟一差,公司估值趺了,物價不升反趺" X  o& ?8 g" r* k5 r+ k! ?; L7 I
例如剛才說10蚊的, 趺到得番9蚊, 8 A+ G3 K1 v+ A
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# e: D! Y" r; |" R+ i/ V- x
所以你就會覺得D錢好似蒸發哂咁2 x( w, S& t% H- l' B$ ?

- o/ V7 K& [/ l/ F你都可以當標野咁諗, 個樣野多人可以狂升值,
; X2 e7 _+ e8 W' t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, % R0 }7 w0 T6 J3 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 K" d" |2 z3 ~/ k; U; D2 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
) M! s: \3 e4 m6 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
9 O% e* I9 k4 M0 u3 V唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! Q. T; m- t9 K% ?9 b% P1 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / u4 B* Y  m2 W+ Y8 j3 f" 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" H& O2 e* n7 b. v6 f/ [
咁你話d錢蒸發左去邊? ...

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1 w4 X% Q. w$ D正係咁樣/ w0 e- D; ^! `$ a1 @! E" H
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
/ j& \3 l  |2 g# f2 V; F分分鐘佢地唔使還錢
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& g, I4 _9 F. l; _& ~) g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," R, Y1 i; M: j1 t
連國家都係問人借, 不停發債券, 印鈔票
& d0 N- Y0 ~9 s7 e一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. r9 c& V1 G  ~4 f& o# a
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. V- y6 e5 |: |( d
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
. ]  X# ]$ {! J0 ^因為以前未生產, 先消費; f" J5 t% w3 Y1 J% n+ l
而家就要多生產, 少消費