0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; S; v+ W  [( R# X0 w0 z( KWhy bank will sell 借據給第三者???: Z$ c; t: R; c  _% o" `
I was so confused.....

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講到尾都係賺錢
! s/ I1 @6 H) t2 b8 l; }' I# sso銀行可以不斷放款# j: ?. F! ?0 x6 D. U$ y% x, u
美國的房貸問題散佈到全世界
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9 I  [: G1 A8 o7 ^- Bmortgage loan - i# J3 A2 t! F
>conduit& K7 @( T7 n4 K  L
>RMBS(Residential Mortgage Backed Securities)
- J. a+ C. V# t, Q; [>arranger
! `  d* ~+ a$ k+ W* J>CDO(Collateralized Debt Obligation)
7 O/ R% ^/ `" x8 s# i6 P最後去到投資者

Kev

i thought it is the reason of rate of return.- j: R; ^1 m4 h4 T7 n1 Z1 F
CDs could have different ratings, AAA -> F,% p; N9 V) o: x
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" l1 Q: O( e% {; p' Amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 M( O& r( n) ^# H0 ^  B! Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 H7 q2 W9 S2 e& R/ h6 g( q  t1 X4 V# r
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; ~: ^5 b* v+ O* _" E
similar to bonds, CDs trading in the secondary market have different value at different times,
$ I6 y* C9 b3 d! e* y6 rnormally the value is calculated by adding it's principle and interest.
8 ]7 p; F  x6 B0 s  B) X5 |eg. the value of the mortgage+the interests to be recieved in the future.
. m6 z+ T0 A& T4 m" ^5 T+ d' x) Ebanks 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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8 r, L9 O6 i1 ^im not quite sure if the multiplier effect does really matter in this case.
' ~, H& K/ j  Q4 r; T  win stock market, it's the demand and supply pushing the price up/downwards.
9 s# n( _" K& ~# k; i* ~3 DFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! B/ t: n( C% b% E: T3 FA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 x9 Q& ^/ M  Q0 p' W( Q+ d9 W: ^/ m
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.
5 v; ^; u# h6 J6 v4 g4 kbut the value of their assets did really drop significantly.& a# z5 x( F# Y

* ^( g- \  d! G, o  E! A( U[ 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( a% d- v+ Z1 K' m
Refer to last example,
0 u7 R) d. J5 V" ?* kthat means bank A have no money because we borrow 10 dollars from bank A & n4 Z  H; z6 L: }0 K9 y3 C* R
Because bank A doesnt have enough cash on hand
1 D2 E  |% ]+ x4 [- Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
. Y' N9 S0 H$ p5 j2 zso does it mean if E failed to pay D,
: l6 ^4 T6 k% D0 ~. k, r# b3 t& a2 Pall the B,C,D,E have to go bankrupt?( p+ a0 X4 H# \

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the multiplier just tell how much money created in a whole economy, 9 v) j( _% K/ P' p" h8 e8 M
in this case it doesnt really matter how much money is created,
8 |* t5 C+ X$ }  Hit's the problem of the debt itself.
! u; |( ?5 [% S, E% wthe 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
- b6 C$ I* d) l9 e! v$ L小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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$ m$ {- S% N( O5 Y9 W% t: m; ?* z無可能淨係有人蝕錢無人賺架嘛...1 w2 h! N  H- Q) U
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敬請各師兄解答0 V6 U) N0 G1 s! z& M

: }+ C% Q" |; m9 P, X' Z% ~" ]Thanks

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那些根本係 紙上財富  
8 ~" j7 n' U4 \- P* I# 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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& V* q+ R6 y0 c: \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
2 b* y1 f0 T. h: Y2 f當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ h  v% @+ K9 u- J7 y; \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, ^9 j- M. T3 u+ X# M. a- U
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# T) R% Z, l2 \, N* ]* P1 b  P8 q' J
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! d" n/ q1 K& y) D3 V8 g
計番回報率就已經係50%,所以可以好好賺
5 `) Q' l- Y4 T8 U7 m9 V0 A前提係銀行之間要互相信任先可以咁樣借法
+ a: E$ u3 N! u$ S2 Z/ E! K3 p同埋個市場既前境要係好先得1 S% W5 h) W- t8 V; M2 O# Y  r
但當經濟一差,公司估值趺了,物價不升反趺
$ O' U2 l. V& F9 g8 f) ?0 A( B例如剛才說10蚊的, 趺到得番9蚊, , x5 }/ b7 c! w' h1 \5 U
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 e% F+ N# {. m* g' ]* O; Y& j2 C
所以你就會覺得D錢好似蒸發哂咁& y- q! v- E8 ^* Q% q

, O$ N/ [. P! {2 C2 q! N你都可以當標野咁諗, 個樣野多人可以狂升值,
2 M- H& C2 B" n; k1 l3 m* D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,
9 M  O5 y" W4 C/ I- f$ @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 R( A. |3 M# P1 l9 Q8 [4 Y
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9 C# {: ~% `5 s' E' d
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
& X7 s' H+ o4 r- y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' K) O, n5 j' ~# S( b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 K! P- q& T% J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
! a( ]0 t6 {/ p" q* {咁你話d錢蒸發左去邊? ...

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6 ^) D1 Q5 I: B6 j  h% z% C正係咁樣
; ~# u0 q5 ^( b' J/ ?5 G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
% n$ b6 {6 |! |; o$ Y* F分分鐘佢地唔使還錢
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, _  r; J2 _- F! @3 L4 ?, 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,3 N; _9 x# d; A* ?$ ]% p
連國家都係問人借, 不停發債券, 印鈔票. I0 }6 A" {  F& u3 u: c* s$ p, D# o
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ s! j" }7 Y# b( G. x$ d1 b; 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% `+ K1 n) _  W9 d. k
咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ x9 Y- O2 j" j9 l* S8 _其實係...
4 j' i! O. ^2 ^% p9 F$ R因為以前未生產, 先消費
3 j2 R8 ^2 @3 o/ y; z* M7 l- \+ ~而家就要多生產, 少消費