0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 T4 _2 y( s4 f/ c" q, @; U
Why bank will sell 借據給第三者???
: r3 [: D( ]% G# r7 v+ }7 WI was so confused.....

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講到尾都係賺錢  G; p/ m- S; F0 Y. n
so銀行可以不斷放款
0 p! Y. p3 ?: c* [美國的房貸問題散佈到全世界
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mortgage loan & n* H& R4 X( [6 y- z# |$ |$ k
>conduit' n, }1 V4 ~) s0 ?
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)4 @+ M# X8 Y& X$ N3 x' C7 g+ U
最後去到投資者

Kev

i thought it is the reason of rate of return.. `) H. q8 r8 r0 Q1 f4 K. Z0 [8 B# f  E8 }
CDs could have different ratings, AAA -> F,3 Z. S1 _/ [) D+ M2 D
more risky ones would have higher premium (interest rate) as a compensation for an investment.3 P! d( C' s& f8 I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' N  K* h. U' r3 a5 |% E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% k' z9 S' ^9 z& H. ~. p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, x$ k5 ^6 }: ]) G3 E. wsimilar to bonds, CDs trading in the secondary market have different value at different times,
8 k; t1 X, P9 W0 @% N& H/ b- wnormally the value is calculated by adding it's principle and interest.
3 p2 c# d7 t  z3 keg. the value of the mortgage+the interests to be recieved in the future. 2 X  c: k0 g$ c  W! m( P. C6 u  d
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.) P1 b/ j4 Q$ k  i# H
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im not quite sure if the multiplier effect does really matter in this case.
- h' w# V2 `+ j. I( zin stock market, it's the demand and supply pushing the price up/downwards.% T% j9 }$ l2 ^$ g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; _6 {$ E5 t; \, T. }- i1 {3 NA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! Q/ d0 w4 L5 B; q
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. 9 _- r! k- s+ ]1 K8 J
but the value of their assets did really drop significantly.
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9 M! x; I& X9 F4 G  n[ 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: }' M6 q4 ]" M. ^$ E5 w
Refer to last example,
# O- o# j* `  `that means bank A have no money because we borrow 10 dollars from bank A 5 N  O* V1 g+ l6 }6 Q  r/ R
Because bank A doesnt have enough cash on hand
# v; V( ^( K+ P  Etherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; A! n  M+ Y1 I9 u4 }0 F; L: ]3 K
so does it mean if E failed to pay D,
) P' \. T$ U8 [$ `9 }& h3 a0 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,
6 z$ T9 g; `& z7 n' s% ein this case it doesnt really matter how much money is created, ; V: f4 Q. |  Y% V
it's the problem of the debt itself.+ ]) E7 N7 N; h1 |
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.gif2 q. N7 P; d2 h: Q
小弟一直都唔明...& l* w; H3 p1 Z/ S

* w9 R) K0 p, X" g) r! [2 g' D全世界都蝕錢，咁邊個賺緊錢呢?! A! u; E9 w/ E  S+ w: h! [7 r

7 N& c' R$ m3 w8 @0 Q無可能淨係有人蝕錢無人賺架嘛...5 H3 A* j3 M* z7 _( y" ^- @& q

2 Q% j* v- [) R) r敬請各師兄解答
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Thanks

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那些根本係 紙上財富  ' y$ ~7 X' T# W4 e1 l
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 graphic3 r0 U% V' e1 x) m/ Q, k

( ]3 P6 h9 a7 ^  e8 x1 X' o' [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9 M) N7 Q  b( @5 R  R
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* q9 p4 d, I0 b  o2 {4 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
* j# f7 o/ y5 O" O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% }) t0 K& q4 y# r/ Y+ D! [, j0 z8 G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" g/ j  F( s8 k3 T' B- d8 S計番回報率就已經係50%,所以可以好好賺0 t( ?% ~1 d3 ]" n, {
前提係銀行之間要互相信任先可以咁樣借法
& k; _( y9 u  H+ e! H同埋個市場既前境要係好先得
4 s; E/ T% j0 l+ s# {  q. f但當經濟一差,公司估值趺了,物價不升反趺4 [5 J) {2 d( O+ ~4 a
例如剛才說10蚊的, 趺到得番9蚊, 4 X) G5 I( k0 j, P' v0 d1 e2 G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 V' x+ W6 }, q2 U& W所以你就會覺得D錢好似蒸發哂咁5 y; |' Y8 }6 C* l9 j2 R( v0 [% L9 D& d2 F

; R. B$ Q/ M" B- \) ~你都可以當標野咁諗, 個樣野多人可以狂升值,
$ N. ?( c8 N* Z6 V* x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, - ?( O; v* }6 ~3 E% ~9 v) S; w. Q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 L% D5 [2 @/ @
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) P5 c/ s' g* j7 `+ k' Y/ f5 m; 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
' ~0 a5 U, ^. ~5 T; }( g唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ o0 G4 B) E: X2 v/ h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' M. e4 H& z6 U& K; 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
! d2 V% U/ O3 V% Y# W: n$ {7 c咁你話d錢蒸發左去邊? ...

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/ k! V; Q' l- I4 \, }% j正係咁樣1 H  i) |3 A9 q; K6 F. x! G9 O
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
, _$ k$ j6 a$ n" O" {! Z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 |& f3 L9 l* x- A7 z3 N; b/ k連國家都係問人借, 不停發債券, 印鈔票
# ?7 v: Y( B- X3 G- D一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! J; e% ?& u# W
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.gif3 V5 V# ]' g1 x
咁而家"爆哂煲"算唔算先至係變番"正常"???

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  j( W! F7 h" B7 x6 U* g0 o其實係...: S" l+ X7 B; ?  U6 r; Q
因為以前未生產, 先消費5 z# }5 q# j+ L4 R
而家就要多生產, 少消費