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! u" |6 ~  OWhy bank will sell 借據給第三者???
: J1 O& W4 W  B' D5 o* r* ]* a5 Q; EI was so confused.....

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5 ]8 s. X: y0 d! d# Y9 \- n% _; L( n% {講到尾都係賺錢: U; c" O2 ?8 ~- g5 H7 R
so銀行可以不斷放款
: j& `. z* k- a4 M% z* ~美國的房貸問題散佈到全世界  @* K  j& ]# D; K5 @

: n- J# d1 D  I0 x; I' |mortgage loan , Y. s# ~7 {" ?0 G( J
>conduit
' O* J; L* y6 Y% E" H>RMBS(Residential Mortgage Backed Securities)0 Z' q/ \8 H/ m0 h; d
>arranger/ E4 D6 v; l6 v) n* p1 {. w
>CDO(Collateralized Debt Obligation)' ]9 x. G6 w9 G$ r) X: `
最後去到投資者

Kev

i thought it is the reason of rate of return.
* @: e" o+ K8 D) s: xCDs could have different ratings, AAA -> F,! T7 A' ^8 c/ Y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 [! Q( R% T$ A9 k; \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* F4 D/ `. h1 [& x
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 H0 n% K; @# g" T$ |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ r# J* G4 c0 C! ]
similar to bonds, CDs trading in the secondary market have different value at different times,0 B. g. ~: W/ S- _/ Y  [
normally the value is calculated by adding it's principle and interest. 6 x& H0 U. N% ~) s4 s9 U
eg. the value of the mortgage+the interests to be recieved in the future.
1 e, C% W/ I! i, L2 mbanks 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.* ~8 N, F% e( b% u
in stock market, it's the demand and supply pushing the price up/downwards.
8 {& _5 P* w* ^! [: O3 `9 g/ pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; G4 y% p8 W& f) B* sA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ d; |& K% Z* u9 X4 Z
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 c) w3 k8 B* j: R) ]
but the value of their assets did really drop significantly.
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/ P" b) [) Z9 [$ Z) ^2 w8 ]* c[ 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; L. j" l3 a: y' _
Refer to last example,5 i# T: F7 \- g9 z, X; Y
that means bank A have no money because we borrow 10 dollars from bank A
+ A8 X* ?9 \0 d$ \+ N8 P# g! pBecause bank A doesnt have enough cash on hand 1 r; z5 ~% O6 G6 G% k2 ~; H9 Q8 G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
6 y2 t/ a" F& O9 }- y9 Aso does it mean if E failed to pay D, & C7 M. ]* j3 c) U5 X( W* L$ p, x
all the B,C,D,E have to go bankrupt?
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& o$ v/ J. k2 x5 x  ^' m. dthe multiplier just tell how much money created in a whole economy,
7 H; r" }4 h& rin this case it doesnt really matter how much money is created,
, M  e( R% Q7 e/ A6 @it's the problem of the debt itself.! Y/ C! |0 w, j  R% v5 c; c  r
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# P; n  S. s2 N
小弟一直都唔明...8 P# S# F0 h: q
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全世界都蝕錢，咁邊個賺緊錢呢?; F$ G  h- G' i* y  Q

- O1 O) K' H" a% ~% m1 G4 e. ?無可能淨係有人蝕錢無人賺架嘛...) h1 Q6 `5 s" `( a
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敬請各師兄解答
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9 q5 Q8 g0 i6 uThanks

+ w3 K% O) E3 |1 a那些根本係 紙上財富  
5 y/ {: o4 `/ a+ [; H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* B1 `5 v  B8 E# m

/ X+ P4 y2 H* b) ?4 {3 r) h. @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
) d4 K0 b% m, z9 n* `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 ~7 V9 L9 ^1 ^; a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
( N) q5 o$ \$ g4 |# p2 i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" }' z, N  T8 C( x# i
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 \% G8 U* j; s$ p) K3 j* I4 C1 T計番回報率就已經係50%,所以可以好好賺$ H  m# O( v( \
前提係銀行之間要互相信任先可以咁樣借法
7 s: B3 \  U( Z. Y' q8 ?5 x同埋個市場既前境要係好先得
  S& C9 K0 p0 Q2 ~% f但當經濟一差,公司估值趺了,物價不升反趺
0 o4 M2 c5 @9 O# Z例如剛才說10蚊的, 趺到得番9蚊,
# H4 Y/ J- W: Y" x% t7 K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 v$ b. X+ l+ b* ]2 l- H  }所以你就會覺得D錢好似蒸發哂咁
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% F0 U" W5 J; a你都可以當標野咁諗, 個樣野多人可以狂升值,
2 d0 {% ]0 R3 V0 Q1 V5 M0 |* C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,
0 n1 H' V% g& _/ y8 c# m& l6 D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( ]8 n! r. D: D! ^# S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
/ c1 U* Y# _6 H5 l. c# R, x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.gif3 d4 J/ {9 G, W6 S+ v. s4 }
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 ]9 `0 g$ w; N/ S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- Z) v! |: f( M& P) S! C# V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% p) R: \3 S6 ^+ t* [1 E$ y' ?7 [
咁你話d錢蒸發左去邊? ...

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正係咁樣6 t. u8 Y5 M* l4 }
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+ f6 x  t1 H& a1 U
分分鐘佢地唔使還錢
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8 i. v# O' Z" \* E) m; ]7 N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,# A/ C" `* b. o$ {* M
連國家都係問人借, 不停發債券, 印鈔票
) f/ f$ x8 K3 U/ n8 g一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* p" b( ?$ ]" E3 B
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$ K. T; Z' h, K7 X0 C
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
$ I8 |8 _2 v8 [9 F; F* f1 M因為以前未生產, 先消費
1 A3 f: |8 u7 M; Z而家就要多生產, 少消費