0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 |7 @; f; P( i5 t. E& OWhy bank will sell 借據給第三者???
6 d( l% t0 O% z0 K8 A1 a: D( ]I was so confused.....

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4 |% k. ?& o+ _: I0 z8 [講到尾都係賺錢/ J2 `; e! Q% y, r% y. B
so銀行可以不斷放款
, K/ q9 n& n; o/ q! X美國的房貸問題散佈到全世界
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mortgage loan
: V( ^; O8 M& V% j, N) l. Z>conduit- ^5 j: j  t0 P' Q
>RMBS(Residential Mortgage Backed Securities)4 P8 E) O( u1 v1 _- t7 n
>arranger  A! u- N. c$ `, O/ Y2 C
>CDO(Collateralized Debt Obligation)# E( r* p% R1 M6 @- z4 M9 x0 C3 E( ?
最後去到投資者

Kev

i thought it is the reason of rate of return.4 \" K+ N7 Y9 o
CDs could have different ratings, AAA -> F,/ H- i8 T! t/ ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, }. `; `9 P  rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 |/ _6 A( F* I3 w6 \  n" E& Sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* R8 Q% J( [8 R1 m) U) O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, {$ m% |1 L' D6 ^" A4 msimilar to bonds, CDs trading in the secondary market have different value at different times,8 n" ^2 F, A( c5 `7 k5 }+ N2 N4 v
normally the value is calculated by adding it's principle and interest.
# D' W: [+ M, |  F# t; G, Ceg. the value of the mortgage+the interests to be recieved in the future.
! l8 s, x5 [- F* ~5 \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.2 E) }& [. h9 n7 g

, I# x# @- U  Q/ w/ iim not quite sure if the multiplier effect does really matter in this case.6 d$ S% j; Q! c  d2 t
in stock market, it's the demand and supply pushing the price up/downwards.
* N- Q1 U' x' G8 `8 M2 tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 t6 h( H( p5 X1 l4 ~* K2 y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) C. v9 C% t  G/ A) P9 c) u0 uThe 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.
8 Q# S0 q# |5 l, w& X  r9 Q+ v& C- Xbut the value of their assets did really drop significantly.5 }4 K. M4 ^0 q8 r/ K! N
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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& v$ i  w, G6 _; k; B4 s% q: \
Refer to last example,
/ e2 p0 k. a- n7 |, q% Fthat means bank A have no money because we borrow 10 dollars from bank A 8 Y' G7 U7 Z0 o3 o
Because bank A doesnt have enough cash on hand
+ N) o, ^9 n/ W# Otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E1 q1 ^7 ~7 n$ R: x
so does it mean if E failed to pay D, 1 k& }2 G' @) M2 t7 c
all the B,C,D,E have to go bankrupt?
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7 b  _1 T& g8 h; S& u. lthe multiplier just tell how much money created in a whole economy,
1 a! l& J+ I1 U+ r$ Tin this case it doesnt really matter how much money is created,
8 o6 U, \2 d3 Q- {. [6 W" K5 [it's the problem of the debt itself.& T3 T4 M1 B% z4 L
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
  u' ^5 H9 y3 z$ x小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?, A: i4 p7 I2 h7 m! i& s

" _0 J5 O" r. s4 s/ M0 z- c: O# B無可能淨係有人蝕錢無人賺架嘛...1 ~% N* [8 F+ \8 a

* {# [$ Z7 x9 _; d敬請各師兄解答
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2 U% T( @1 G  J* Q  e6 AThanks

) U7 \9 t+ i. \: t, A* D那些根本係 紙上財富  ! _! q: c. h5 @: i
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% y* n1 g. d. G& V% A5 o% O

" k. t$ T+ Z/ O# xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
4 s1 H7 x% g/ `( |2 g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& i2 u1 Z: k- {# t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
8 R7 T$ T# E" y3 x- B個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ a: k! K3 e! q3 k& M7 p. [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 `) \& ~1 ]2 P+ v- @! k* Z6 C
計番回報率就已經係50%,所以可以好好賺$ ~# p4 h$ u, j+ }0 R
前提係銀行之間要互相信任先可以咁樣借法
& }4 o5 `" @2 L- h: \/ g8 ^同埋個市場既前境要係好先得# k, p# y5 v6 V- B% |# t( j
但當經濟一差,公司估值趺了,物價不升反趺+ s6 V% D/ ~: K; I" v# n/ U+ }' x. `
例如剛才說10蚊的, 趺到得番9蚊,
  |8 \( U8 k# N. r0 R- ^咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% Y; a" x( w' q) z所以你就會覺得D錢好似蒸發哂咁5 K/ v; ]; v* \1 n1 s( Y& I4 @" ?! j4 w
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你都可以當標野咁諗, 個樣野多人可以狂升值, / U, J( W& I! n3 q/ s( a
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, / S% I# P: [7 [9 y$ b1 z  o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( k& u* R1 z, \% m
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
8 n* L. c$ F% @$ y1 }  |- j" b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
+ K8 T) w: {" c" N  M3 r$ L唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 i2 {; a) z% z2 Y2 w4 G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % J# _  U' P. T) Q5 ]
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 q4 B  t5 ?. r; f$ p8 t咁你話d錢蒸發左去邊? ...

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正係咁樣
! c" ], [( _9 S. i; R( J6 i# N$ i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
" t( D3 s5 L$ i4 t  W& _' ~分分鐘佢地唔使還錢
8 ?3 k+ l& ~  g8 |- o& v$ ^+ I9 U/ x" q" c% ?0 _& B, g$ i
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,
$ D5 F  P' @/ {$ L2 p3 _6 |8 z  x) R連國家都係問人借, 不停發債券, 印鈔票5 z9 A( P0 j' H/ ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 P: |5 T8 s4 e5 |1 \" m* f
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
# ~% [6 x0 J4 @; [咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...7 X9 y2 V& `2 u; O% ?
因為以前未生產, 先消費2 l" |+ t' X4 p0 ^/ t
而家就要多生產, 少消費