0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ k0 h" t1 ?2 ?( U# n- D' [% n0 PWhy bank will sell 借據給第三者???
# a0 v8 [0 e! z% @) R1 Y$ u0 YI was so confused.....

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講到尾都係賺錢1 J  J! L+ e8 I2 r. K) P* Z
so銀行可以不斷放款1 Z7 |3 C. @6 d1 A
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)& h( i$ E+ _- p' V0 |$ v: h
>arranger
! y# y1 ^0 V% T$ |>CDO(Collateralized Debt Obligation)
+ n9 `8 {' _3 F. I1 B& Y0 z" u最後去到投資者

Kev

i thought it is the reason of rate of return.) \% b' }+ V% o2 t1 {  {0 U
CDs could have different ratings, AAA -> F,
/ f; B1 Z! x9 L) ]) Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.$ Z- ~/ T2 N0 R' h% Q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ G( v( C; j$ fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# s+ m2 A) M% G8 |. ?9 y8 W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ e% @$ A" R* B4 h( V( T* w
similar to bonds, CDs trading in the secondary market have different value at different times,
4 n1 ^  r. G! I$ N' x' pnormally the value is calculated by adding it's principle and interest.
; Q! R$ A; t+ _$ C/ H  Leg. the value of the mortgage+the interests to be recieved in the future.
" f* q5 {, g% d7 v- fbanks 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.* {5 g/ h! M0 N
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im not quite sure if the multiplier effect does really matter in this case.
2 B% A! P1 P# win stock market, it's the demand and supply pushing the price up/downwards.
( U3 z3 [' `9 e7 C! t$ [8 Y$ VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ p& ]' R* j9 e! f  N7 B$ PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, l( v( o' Q& L" zThe 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. ! A$ b( b+ U) W
but the value of their assets did really drop significantly.
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; b  L  C. F; j* o" y' Y[ 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
6 i. H' ^( O& R& _Refer to last example,5 f( X. l" U6 V
that means bank A have no money because we borrow 10 dollars from bank A
6 M9 t  t: N4 KBecause bank A doesnt have enough cash on hand
: d0 p9 g1 u2 U9 w  ?# r- mtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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: Z3 A7 r" \) R  ]- s8 @A->B->C->D->E# E2 i0 t) Y# k) h1 d5 L' `
so does it mean if E failed to pay D,
* |9 |4 u# {) d! \9 l  fall the B,C,D,E have to go bankrupt?1 I( g( N% q" T9 v- `3 T' ^0 @3 h
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the multiplier just tell how much money created in a whole economy,
/ `' v. w( f0 h  R' T5 ain this case it doesnt really matter how much money is created,
1 G, Q) c4 ?9 j! A1 E; @it's the problem of the debt itself.
8 o1 n' a% t4 V# i6 v+ ^% S; A* Qthe 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
# C, s, N% f' U3 B- ^小弟一直都唔明...
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6 E3 U  _% H  X) ^/ a全世界都蝕錢，咁邊個賺緊錢呢?
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: _5 y/ K1 w4 z9 ~" B9 j' D! u, j無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答! l7 n) z6 F, r

, T& V. ^) g- L9 n# K4 ?Thanks

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那些根本係 紙上財富  
8 D: }8 r' `: u' b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
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9 S  v; X8 u( j0 e3 Xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
- t- y$ W: ^# X6 f' A7 T$ E當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! i1 {- \, y8 T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
' T$ ]$ [/ ]* {9 {3 ?$ M; n; v' b個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* Y- I3 H  q, U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# \/ ~" i( P# v7 X) r計番回報率就已經係50%,所以可以好好賺
& J# _6 S( I9 ~3 o6 u6 B前提係銀行之間要互相信任先可以咁樣借法9 d1 w, W) T9 R4 _: a
同埋個市場既前境要係好先得
; B7 r! U; I" _# q$ H& u1 p$ U但當經濟一差,公司估值趺了,物價不升反趺' g; r9 {& W1 |$ S# G" _% Y
例如剛才說10蚊的, 趺到得番9蚊, " h+ e. d6 H8 r6 y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- W% s/ k0 Z# g6 C% g9 `
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, # i( P7 f' a; d7 m
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, 3 z6 u: q% j2 _* Q& J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 t3 j1 ?1 n6 l( I: V1 L. s+ J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0 e+ M/ Q# J" j$ u" I0 z
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: K- M) I) @% A8 Y0 y
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( K3 }7 e- u% O  G! A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % D3 l9 R$ ?" U& C' S9 G! w! O
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
2 B# e+ ~6 b% m  G咁你話d錢蒸發左去邊? ...

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正係咁樣/ l6 R) _4 o0 d$ j/ A8 M9 s; G5 g
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
3 t- E1 {+ r) h! r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,
- L% T4 m2 X' c+ h+ T連國家都係問人借, 不停發債券, 印鈔票
1 h0 W& U! B2 i. Z8 n一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; ^$ p& r* N* e- B2 l
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
- Z) I' N6 B, I. i咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ l+ j) H/ u8 k0 }其實係...1 M% l9 u* y& O* [; `* I  F
因為以前未生產, 先消費
% p& d; c6 o6 H! R1 Q4 s而家就要多生產, 少消費