0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 A4 U( |& e3 O- B6 q0 X7 a* q; s; KWhy bank will sell 借據給第三者???
4 Q5 y" A) |; I& Z) Q- y2 U) m4 hI was so confused.....

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% i! a. o& d1 ~! ]) H  ~講到尾都係賺錢* M% S6 ^& }% D& k8 N
so銀行可以不斷放款3 ?7 S4 G% M3 R$ r, H
美國的房貸問題散佈到全世界4 i) g* e, O$ }" r, r* n0 u5 T
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mortgage loan
" S: @3 O4 W. y8 X* z>conduit
& r, N5 m% [1 b>RMBS(Residential Mortgage Backed Securities)
( I: s+ {* x( E5 [8 F" B>arranger' ]% m2 T2 E- C: W
>CDO(Collateralized Debt Obligation)
8 K& p4 G$ _2 e5 D最後去到投資者

Kev

i thought it is the reason of rate of return.+ T+ d1 B: G9 X- [' A8 @! i1 \) l
CDs could have different ratings, AAA -> F,
0 |* w! s- j/ Q$ f- N/ D  `" xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
# x2 |& o: i9 B- D* {( Amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ g5 h4 N2 B  ]# d1 F5 B: N3 ~in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 j# n. ^3 \+ U' U* \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 {. p, S% n+ Z% u. K  jsimilar to bonds, CDs trading in the secondary market have different value at different times,
8 i( w# [+ D" X' f( T1 cnormally the value is calculated by adding it's principle and interest. 1 t+ R% I* E$ Q3 j9 r7 t0 E  _, U
eg. the value of the mortgage+the interests to be recieved in the future.
% X. ?( k0 S4 ?: sbanks 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.
* y+ f; W9 s6 s) L! O, [in stock market, it's the demand and supply pushing the price up/downwards.
0 z9 Z* Q3 I( p( Z- F4 ^& ]2 gFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ F, A; b4 F& o+ H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." F6 z) \. O' s: J4 |* s
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 C2 j) [$ k3 o/ e8 Jbut 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.gif1 Z: F( X1 L7 R' I" }0 t4 L
Refer to last example,; q7 `9 |$ U. Y1 k. j0 ^
that means bank A have no money because we borrow 10 dollars from bank A
! @8 ?; _: Y: s9 K/ FBecause bank A doesnt have enough cash on hand 6 Q1 r- C+ p# V3 n: }
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 e! I$ w# m$ I' ~$ B
so does it mean if E failed to pay D,
$ X: T. g9 `1 V: F1 b& j! x7 Pall the B,C,D,E have to go bankrupt?
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8 Y3 b& G8 _) M# Z8 l. ~the multiplier just tell how much money created in a whole economy,
/ b* A4 g/ N5 H4 Qin this case it doesnt really matter how much money is created,
) {2 I, C0 x1 O% b8 H- Sit's the problem of the debt itself.4 n9 c4 D8 N1 J: U; g! f. {0 j; i
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
6 V! l/ g2 m2 @( \小弟一直都唔明...5 Y, ]" L3 M+ C/ L
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...6 g; O+ e* [  G* i
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敬請各師兄解答
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2 g# z: D1 `+ X! c2 Q7 c& y+ n8 aThanks

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那些根本係 紙上財富  
) {# E: J7 Q  T- [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 graphic7 K! Q2 z/ e8 E  ~5 P1 q. M  ]
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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) i( @& `1 a. l' `0 R2 f& E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ {& |; |; J; s7 u0 O( [
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 t! @, o# e5 s+ q" [# I/ ^4 V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 V  e4 N; W, H扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: F  R! [- W9 U
計番回報率就已經係50%,所以可以好好賺
" f* @3 @5 d/ `% O: B) H前提係銀行之間要互相信任先可以咁樣借法1 |; U3 f$ _  k3 c2 K. V
同埋個市場既前境要係好先得
& n, u6 S& O" P, i但當經濟一差,公司估值趺了,物價不升反趺( X6 \; O. B# m* b
例如剛才說10蚊的, 趺到得番9蚊,
% V% j2 m, C. I% J9 P4 J咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; I" D( L7 b1 P) t- c0 e
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 2 Q' m- ^2 L5 ?* b3 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,   B- P  w4 `3 E4 M# d! J# }- g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 o) d; ^. @& 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
6 ]( p: e& T1 I/ d3 q- b7 g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
/ P/ h5 q6 ?" [8 t& V& O唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 F- r" o7 C* f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 g: n7 l4 {8 u0 r& x
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* c- v3 ]/ |5 @, o& N
咁你話d錢蒸發左去邊? ...

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; _' b5 D0 N  r6 t7 V5 g正係咁樣/ K+ ]/ m6 H7 g2 z. M
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
! {- c6 R  J) Q* I8 N. z分分鐘佢地唔使還錢
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( k/ W1 z: u! \& W9 {  z6 a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,
, w+ k2 P! W8 \1 i3 Q) R) ~連國家都係問人借, 不停發債券, 印鈔票
$ W4 X: I7 u+ O& T% e$ H! N一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) ?, K  e. Q& D3 ~
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+ ^8 T9 s" D+ \
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  y7 b2 H+ W. m
因為以前未生產, 先消費
( J4 V* w! R' X! l1 ?而家就要多生產, 少消費