0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  V) \- v0 h; d6 Y9 _Why bank will sell 借據給第三者???
0 w& Z2 X0 [  L. w: p1 tI was so confused.....

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' ]& @$ V% d6 W, N講到尾都係賺錢, Y& b; J( \9 r' o/ U2 T/ _( M( H; ?! L
so銀行可以不斷放款
. Q3 i9 \. b2 j美國的房貸問題散佈到全世界: C/ f7 b7 w7 c# ], f
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mortgage loan ) K6 w0 Q* T% M! L( x
>conduit
% }; g# P4 d% [+ A2 y# D" s>RMBS(Residential Mortgage Backed Securities)
  C7 g7 m2 [& ~) m! f% i  B# I+ F3 {7 J>arranger
* e2 p/ p" O, j3 f>CDO(Collateralized Debt Obligation). r/ ], k* [, g4 m5 y& J
最後去到投資者

Kev

i thought it is the reason of rate of return.. |0 `' \. H0 e& b$ H" Q
CDs could have different ratings, AAA -> F,
2 o1 H6 e! b" f6 k- Nmore risky ones would have higher premium (interest rate) as a compensation for an investment.& r- F2 \% h! C  A4 H# J9 f- T2 q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 V5 I2 p, K1 q9 P. @. g
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# L+ Y# X6 d7 @0 |) Y5 f
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
/ \: Y$ Q- j, q) i9 Q' @/ c; osimilar to bonds, CDs trading in the secondary market have different value at different times,
& Q- \2 [+ F8 a1 T; @( R! v6 k- _normally the value is calculated by adding it's principle and interest. . I) k- }/ o# J1 G' [. H
eg. the value of the mortgage+the interests to be recieved in the future.
  B7 q; o* v% W, x3 Cbanks 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 }8 X/ f+ ^: t5 Y* }; Y
in stock market, it's the demand and supply pushing the price up/downwards.
' H0 [( U: Q7 F+ @- j9 tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" b  A5 C) P  F& I% X) h' h3 sA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. z: ?9 A# z  B) Q+ ~- cThe 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.
& l  r+ q! [) @4 ~3 A+ fbut the value of their assets did really drop significantly.0 Y& k8 S. k! z- ~
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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
* h1 D' T0 o. ~" t/ F( H2 @/ m2 S$ _Refer to last example,
' N' G9 V4 N& Q) ?that means bank A have no money because we borrow 10 dollars from bank A
1 I+ U. G0 U5 f7 q. MBecause bank A doesnt have enough cash on hand 8 B+ M* Q1 A# V
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
0 `/ b8 B, z% S  G  z9 [/ m# Fso does it mean if E failed to pay D,
1 ]- {# ~9 B# H. b4 K, w) E  mall 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, . V5 p% h( r9 P3 r; Q
in this case it doesnt really matter how much money is created,
( g. v. r' f7 b  x5 oit's the problem of the debt itself.% Y$ }3 ^9 d* b: Q
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
$ L% F# ~% z# {7 z' [0 {, C! g小弟一直都唔明...# Q# z) z. W3 @" q/ J- J% I
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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...2 X) C  e+ h7 R0 i2 c
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敬請各師兄解答2 |1 G; Z" A* Q& D
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Thanks

% a; a( C4 U4 _3 Z+ g1 R. z* [$ \; @: _那些根本係 紙上財富  4 h( I% l7 w) [
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$ z: Z5 |$ k# g& Q) Q5 ]0 O

% @9 Z" c! H9 [/ Z  Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產; K+ o( C' ]- J( _8 X3 m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 c: m+ E: e+ v$ e' F7 a  c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
1 ~  j% b$ x5 M1 Q! g3 m5 G) V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( r. i( f1 L( Y( _& E扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 `. B- m3 d7 Q% b6 V計番回報率就已經係50%,所以可以好好賺% I# S, Q% {6 r' g3 S0 S
前提係銀行之間要互相信任先可以咁樣借法
& w' ?9 O$ i# [/ F; w同埋個市場既前境要係好先得  v' T+ M& x: A" }9 @9 Q
但當經濟一差,公司估值趺了,物價不升反趺
3 r1 F/ L! L# k  e例如剛才說10蚊的, 趺到得番9蚊,   ^7 }2 H' n. y; R. z3 `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 L3 _# t) s/ ]5 o+ b
所以你就會覺得D錢好似蒸發哂咁
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0 Q5 b7 S# i. F* e  p5 l你都可以當標野咁諗, 個樣野多人可以狂升值, 2 s! f- m) L, |7 |9 l, Q" F
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,
. W. }2 J$ ]) {" u' L# a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . b% R1 }$ d. w
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
- m! B0 e2 _  ^9 f6 r9 O. t& H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! {  R3 Q6 U. J唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' I6 i/ W  j+ a* j3 w, J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 D2 c) B/ r7 ]" \) h' j" t
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
' d) P2 g+ ]# J% {咁你話d錢蒸發左去邊? ...

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0 H( ^: Z; i% J' F正係咁樣9 T* c4 q' x9 N" `5 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2 C; p1 l7 }2 w1 a/ I
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,
$ f, a0 V: A4 ?" B* V6 m/ g0 p, n連國家都係問人借, 不停發債券, 印鈔票
9 Y5 P  L0 H* S( F" O一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- y) K& r( {0 Q& O5 h/ C4 A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
- o! T+ y. N* l; ?% N) \咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...7 L. U. T+ Q. {1 |/ H4 L& Y
因為以前未生產, 先消費
. e$ x( V. m/ v1 f8 h而家就要多生產, 少消費