0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  b; ]' q  M9 }" Y2 F& U4 _, @0 Y
Why bank will sell 借據給第三者???$ K* |/ q- R' ~4 y
I was so confused.....

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# T$ J1 v1 y6 K. y講到尾都係賺錢8 s+ ^, `' f1 u! v2 j1 N
so銀行可以不斷放款. c( W8 P1 ?2 j8 f
美國的房貸問題散佈到全世界
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* T$ u# i1 h7 M1 ^mortgage loan
: g8 U1 c" \9 J0 p7 f>conduit4 Z1 S- N9 a8 O" u3 A$ Q
>RMBS(Residential Mortgage Backed Securities)5 `% f% R' b) X( f/ A- ^; W
>arranger& ~! g+ R, e6 q9 R9 H# t
>CDO(Collateralized Debt Obligation)
& s, J/ ]! o+ y" O最後去到投資者

Kev

i thought it is the reason of rate of return.6 W$ x' [- M7 V8 z
CDs could have different ratings, AAA -> F,3 w9 ?3 M) e8 d4 r6 c3 r
more risky ones would have higher premium (interest rate) as a compensation for an investment." f( o5 @2 Q. M& j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- h- |$ C1 d5 z/ c2 Q) q8 c
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  B8 m: E) E, h9 r
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 w' I  Q9 Q- osimilar to bonds, CDs trading in the secondary market have different value at different times,3 `# t2 Q) C3 W* q/ D/ ]+ e/ A
normally the value is calculated by adding it's principle and interest. + q) k* T! r6 ^3 t8 c- }
eg. the value of the mortgage+the interests to be recieved in the future. , n$ q& n, v4 Z( t- p
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.7 w8 m1 `3 d$ L6 F* g( Y) n; w

4 p1 c1 M$ }# p! U% \5 Qim not quite sure if the multiplier effect does really matter in this case.
: x  w( G" y* X+ `7 e8 h8 f  _in stock market, it's the demand and supply pushing the price up/downwards.- ~2 c. i) H1 J# `, X  y
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 E/ T1 a6 i& r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 ~9 V4 C6 [6 d- N/ }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.
. m8 ^1 d" ~6 Y. B) I- F1 S" ]but the value of their assets did really drop significantly.
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. u# T2 ~3 G* @1 X0 P7 R[ 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
# B" u$ `. ^  I0 RRefer to last example,
3 f* c8 ^0 ~5 u. o8 p% cthat means bank A have no money because we borrow 10 dollars from bank A
4 b+ ], V/ V4 W: }, j' \; @Because bank A doesnt have enough cash on hand
+ A8 L- l+ s9 P+ o! ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 l5 C  k1 L: f; {( b, Hso does it mean if E failed to pay D, . c# }8 o% {; F* \6 V
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, $ b0 a( d! x, I  R7 b, a* _
in this case it doesnt really matter how much money is created, 1 S) x3 c) c/ A" n1 a6 r
it's the problem of the debt itself.# f! e* T6 X! a2 V8 s* M
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
# X# ~2 k' s' X9 w小弟一直都唔明...1 Z3 T( R2 I, q% Y% c

) n5 u* \( b* N4 ]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...
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: Y' S4 Y" g. Q! Z! r敬請各師兄解答
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Thanks

, \8 G" ^1 C7 f3 a6 s4 R- S那些根本係 紙上財富  
- j" J' L; q( m0 v' X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; o/ N) v  N1 c' q# u
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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
3 O+ ~+ i3 S& ?8 l  [1 E( V7 z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 B0 b6 P2 m+ q4 o% k9 A* u
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( [2 v9 @* d3 M$ h
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 ?0 U" \8 x8 V
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ g: B/ f+ H1 d. h+ F5 Z
計番回報率就已經係50%,所以可以好好賺0 i4 T2 e1 b: Z3 l
前提係銀行之間要互相信任先可以咁樣借法
) S. [0 U! b' i, G- ~* \6 `; J同埋個市場既前境要係好先得) {3 C7 X* i3 i
但當經濟一差,公司估值趺了,物價不升反趺
, p8 I3 ~; x6 N4 a0 a6 @$ P) k例如剛才說10蚊的, 趺到得番9蚊,
+ B& T% l$ ?. i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* e; w0 P6 ~7 |, Q+ W6 V/ P% o" f所以你就會覺得D錢好似蒸發哂咁* i9 s' k2 g$ C0 W
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你都可以當標野咁諗, 個樣野多人可以狂升值,
. p" Q6 g- r' 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, 2 z3 b2 O1 s+ n1 I4 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# z7 @) _/ L( V: b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! j% Q; Z4 l5 a; |, o  s
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- l) _, S" Q0 |0 q; Y2 ?  b
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 _+ c8 I6 }/ W6 t' m8 t0 o& {+ z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 Y8 L% I3 c: `, x& B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: U4 f% A7 G# I/ ^
咁你話d錢蒸發左去邊? ...

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0 R% Q6 e. p% F. X正係咁樣
  ~! G, H  M, F5 L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
# x6 [6 q3 G' u. p分分鐘佢地唔使還錢
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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,2 M5 ?# v" O  ^6 r2 E+ n
連國家都係問人借, 不停發債券, 印鈔票$ g& d) X, l, s9 r( m; v- d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 K) f+ w, C( W5 k  A! T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* E: g1 H" |6 }0 M5 ^9 z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 H. C+ Q- A3 t其實係...$ c" B0 K& [7 p% F" V
因為以前未生產, 先消費- }1 Q( v9 [0 E
而家就要多生產, 少消費