0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 ~4 y" \  |  k  QWhy bank will sell 借據給第三者???4 ?7 Y5 l' l7 I# Y$ Q& E1 {" l
I was so confused.....

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講到尾都係賺錢- r( h4 \3 V  `( F
so銀行可以不斷放款/ a# ^8 g) f+ Q: [
美國的房貸問題散佈到全世界$ o# t" E' x. X% ?! h3 B
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mortgage loan - K) ]" S( P* b' a$ b
>conduit( k$ _8 X  k! ^7 c! U8 P
>RMBS(Residential Mortgage Backed Securities)! Y$ u, ]2 A: f- B3 h# m- q
>arranger
0 `- o" x$ K) b% K8 [3 G+ a+ b* I>CDO(Collateralized Debt Obligation); s/ r' {+ `6 X" ?; [9 b; T
最後去到投資者

Kev

i thought it is the reason of rate of return.1 U- F" p. L) |( w
CDs could have different ratings, AAA -> F,
' Y# `. B8 T7 @/ \% a" ]# jmore risky ones would have higher premium (interest rate) as a compensation for an investment., s) n+ O" O+ M, [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, P. Y* P1 v# \7 {; K# V) yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' ^# P6 a2 d' Y- f
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 Y' X+ D  c3 C/ x( ?+ ~7 O" \
similar to bonds, CDs trading in the secondary market have different value at different times,
! y7 O  M* w7 P% ]! S0 D8 tnormally the value is calculated by adding it's principle and interest.
  p6 c& d5 J( eeg. the value of the mortgage+the interests to be recieved in the future.
. Y2 v5 F  W) Q! k8 hbanks 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.) p5 T, G5 D, v. c" N6 e  E* u

3 k, J( F0 k; J# |3 H3 Y/ jim not quite sure if the multiplier effect does really matter in this case.8 @6 ?& X' ]/ j7 a9 v
in stock market, it's the demand and supply pushing the price up/downwards.
3 K1 p% w1 ~" B" z5 |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 F& w1 r0 K* P3 k6 g9 ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& i( g: u0 G/ I7 q* b8 A: o
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.
/ T  Q# [; s5 ^! `/ \but the value of their assets did really drop significantly.1 ]8 w7 S0 }) L# H( r- Q/ \3 ?
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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
' l3 t: M* T* F! uRefer to last example,2 S. N7 R' m% v4 _+ A1 m3 z
that means bank A have no money because we borrow 10 dollars from bank A
1 }% w, Z+ a1 m0 C9 ^& {3 [Because bank A doesnt have enough cash on hand
/ N) ^9 G$ V4 q; V/ E) x" p+ Utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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! r+ Y5 J1 l1 U+ H! YA->B->C->D->E
, C& G; V* d5 w7 ]- Yso does it mean if E failed to pay D,
0 ]: z) o' H0 n) u4 Yall the B,C,D,E have to go bankrupt?3 u) v7 E8 ^; w& ]5 j6 W6 u6 q
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the multiplier just tell how much money created in a whole economy, ! D. ?' w3 W# u
in this case it doesnt really matter how much money is created, 1 }4 G, f* ?$ M& Y
it's the problem of the debt itself.4 H  \+ R3 k1 ^( k
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; y$ f' T0 E  E5 M6 M
小弟一直都唔明...
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3 B, I3 \# h" U8 \; y3 g  @' y0 T全世界都蝕錢，咁邊個賺緊錢呢?! n9 t7 W: c' c( ]

! L9 _/ ]4 \  {) @, u; p無可能淨係有人蝕錢無人賺架嘛...
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% J# _/ s% [4 u% i: p0 @& q4 d敬請各師兄解答4 C8 e8 i3 W* R+ C" M) }; Z, d+ z
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Thanks

6 S' H9 {6 @8 ^% {那些根本係 紙上財富  
! C2 a* H* p, g$ Q. t4 K1 I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+ b" R/ B% b3 Q6 H4 _" y

7 K& `. L8 e6 ~/ 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3 F5 K* p; E  T" w+ E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- U5 @* d+ P* z. z! y+ E3 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3 `8 a2 |+ s; K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 f6 s; f" \; T- V/ N( i* c8 t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 \6 j& \& c7 W  {
計番回報率就已經係50%,所以可以好好賺3 E* T4 c, k! K& N( u/ \1 O% K
前提係銀行之間要互相信任先可以咁樣借法- r( [# [6 x, V+ E% I2 u0 Q& w: R
同埋個市場既前境要係好先得8 _& v0 y+ |& h- Z1 J6 {/ R
但當經濟一差,公司估值趺了,物價不升反趺/ ?* k" q& ]. f' @4 H, `
例如剛才說10蚊的, 趺到得番9蚊,
# l/ q+ m+ \  i8 Q/ B; h咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: f; Q6 B/ y6 }( b/ k7 N4 W4 h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, 7 G0 a; {$ p7 E4 o5 S: j
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,
5 T* x6 w: ]# P. {6 j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- ^4 G9 ~6 f/ K: Z& e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
8 N8 G. P9 R, r- H1 }# z7 K9 e5 j" ~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.gif5 K. E; [8 s* {3 P1 b4 u
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ p8 N; d+ b1 C& h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & S' J7 a* X# C4 W1 \
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
# w" @. I  R: o咁你話d錢蒸發左去邊? ...

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) c, @+ ^4 G: C$ w/ T正係咁樣
$ B" B' I9 [* K8 f: |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; e3 w6 X. _: ~" x9 k/ y
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,+ m: M* j2 ^! ^: R- z) R; ]. s8 v6 b& A; k
連國家都係問人借, 不停發債券, 印鈔票7 @0 J  m5 S. @4 o$ i- |
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ ]6 A" Y, C4 W9 ?0 w* O
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) Y! ]3 a" u% k" c" Y: A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...6 L& q$ ^5 x! h. m9 V9 p. E6 i
因為以前未生產, 先消費
0 u2 ~: s7 p3 z! u  T而家就要多生產, 少消費