0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 V, X) [- Z5 z/ c/ {Why bank will sell 借據給第三者???
7 V0 }' e% X% {8 Z0 H* _I was so confused.....

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講到尾都係賺錢: v- y6 ^5 |- O/ c0 O' Y, Q
so銀行可以不斷放款( N. l; w# x: u$ @$ _1 V
美國的房貸問題散佈到全世界
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" E. @/ C7 j4 n/ f1 q( V4 S' {4 lmortgage loan $ }& H1 ~' ]7 ^
>conduit
. \: o* A8 K; F8 i/ t! p9 i>RMBS(Residential Mortgage Backed Securities)8 V* d1 Y- T' d2 U4 t
>arranger
  A. I1 |5 p1 ~: g! Y7 E>CDO(Collateralized Debt Obligation)( y1 z- G0 v. m! U: c# \
最後去到投資者

Kev

i thought it is the reason of rate of return.4 {8 L8 K1 \0 ?) J# `
CDs could have different ratings, AAA -> F,
# a- w( O& r; t2 Omore risky ones would have higher premium (interest rate) as a compensation for an investment.
" a- A: D$ Q# K* V8 ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 a, q. {& E7 R" a6 C5 N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 n9 v( b) x% v+ ]5 {" z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 y, |: {. _& s/ T5 H( j# w- w
similar to bonds, CDs trading in the secondary market have different value at different times,  n3 S, J* `" N9 ]' w
normally the value is calculated by adding it's principle and interest. $ [' b' i0 u0 v8 C
eg. the value of the mortgage+the interests to be recieved in the future.
) M# u, }" l0 V4 a. q$ g& g8 n& 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.7 Q7 }( b1 e7 c5 h4 u: Z8 m
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im not quite sure if the multiplier effect does really matter in this case.
0 ^$ U7 r) W. Y7 s' @1 w1 ain stock market, it's the demand and supply pushing the price up/downwards.
) n  ?. s' t- P: c/ G+ |+ W0 mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) ~0 k0 `2 V/ U" v& M4 R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- {2 |1 n) b- g, B$ W6 H7 pThe 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.
: R/ E0 K5 k6 z* V# Sbut the value of their assets did really drop significantly.+ g- G# Q& B- L. K1 i1 s. o
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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: h/ J) S2 f! i1 R+ V8 I
Refer to last example,/ p9 b% `- V; |
that means bank A have no money because we borrow 10 dollars from bank A 4 r. U/ e+ f# {( X7 T# h! _
Because bank A doesnt have enough cash on hand 1 `) |6 y" g7 ?3 ~
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' T# @+ h$ L1 f0 ?# F% \: x4 uA->B->C->D->E/ Z# D# M: C" ]  D9 Z
so does it mean if E failed to pay D,
: }# k/ S3 I# H7 r, ^; Hall the B,C,D,E have to go bankrupt?$ N( [! {2 `2 [9 k. m7 W
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1 P$ h" A( B/ y) Z! N" i% R- Vthe multiplier just tell how much money created in a whole economy, 1 d  V8 O; w* `9 x( ]* I/ i0 I! g
in this case it doesnt really matter how much money is created, 3 y: ?* x5 I# z1 [
it's the problem of the debt itself.
0 M' W: K- ^9 w- H. D' \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& A% {% d9 d1 Q3 Z) Z. M4 _
小弟一直都唔明.... C+ y' ?/ f7 B( M7 E" J
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全世界都蝕錢，咁邊個賺緊錢呢?5 s' X; }3 }% U; {
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無可能淨係有人蝕錢無人賺架嘛...# F; i5 T+ _! Z/ s0 ?8 k3 O4 h5 \
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敬請各師兄解答
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' r  i+ T' ]0 F/ A+ Q9 |( c4 nThanks

1 T  v" ~+ w% d# J那些根本係 紙上財富  & m2 V6 k* v) x% }4 A& \
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" M- S' u" c! n% [6 O
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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
2 |$ v' o2 f  p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 E4 \( V1 A% s* c  n- A5 y$ a$ `- Q
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4 Q5 D" y7 q  ^. V6 z1 Y. |; p
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. g/ k+ ?' [# x8 K, ]$ g" Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. a/ p! _; k* T5 @3 s1 P計番回報率就已經係50%,所以可以好好賺: }% l8 v! E; `/ Y
前提係銀行之間要互相信任先可以咁樣借法
& V% E6 D5 q$ Q# ^同埋個市場既前境要係好先得
% C2 M2 G0 K; a, ]* I( i. f/ {但當經濟一差,公司估值趺了,物價不升反趺6 O" W$ M3 r) x. E% G
例如剛才說10蚊的, 趺到得番9蚊,
; u7 I# m3 P# _0 V; _6 U* s, G咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) A& d+ I+ n7 y. ]1 h9 x
所以你就會覺得D錢好似蒸發哂咁. p: z- x! D6 e: [. m% @

. R- ]$ i2 l6 b$ Z你都可以當標野咁諗, 個樣野多人可以狂升值, 3 _6 c5 B( o; W( `7 z
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,
2 ?' ~5 u0 W& h# a' a( k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, h* t2 r& B$ t$ U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% L' U( W8 \' G4 s0 s, i& n8 T! L
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
" J$ \9 o2 Y% v8 {, O唔係d錢蒸發, 而係比美國佬洗晒未來錢, # Y2 k8 O( b  f/ }/ I+ @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ P' e; _- m+ C9 n) S7 C3 B0 ~
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
6 c, C" h2 t: E, d% Y& f( ?: E& U; e咁你話d錢蒸發左去邊? ...

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# y% ]" B0 Q1 A2 O( ^, N8 z% s8 |正係咁樣: H& m& B  W) t/ m: b" [
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
0 {- P# m9 h# ]7 d! p分分鐘佢地唔使還錢
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5 i' A+ o2 i* Q% G% O; a4 f# b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,
) A9 H) C5 `5 M& e連國家都係問人借, 不停發債券, 印鈔票. o2 o  R0 e1 i' }  ?# u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ i( \7 a0 ?! M7 D
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
9 t; c/ `' Z' W1 J咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 h" e. N) X0 g其實係...
; F5 Y& A+ s- `% X/ x因為以前未生產, 先消費
  I, C2 v- i* M6 e而家就要多生產, 少消費