0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. _; S, g# O! h% |7 S/ iWhy bank will sell 借據給第三者???
7 Q( a& r9 s& W) T3 U$ p9 kI was so confused.....

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講到尾都係賺錢
9 D$ z* e9 T$ y7 D8 u4 q, s! f5 ]so銀行可以不斷放款: v- @$ N" }- h4 P1 }% p' X3 w
美國的房貸問題散佈到全世界/ D  c% D, J+ Q+ c: z3 x
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mortgage loan
3 G  C2 Y) \9 e0 U>conduit4 F# b4 M/ q# c9 t$ I
>RMBS(Residential Mortgage Backed Securities)2 a3 U  V5 Q# Y# s+ I6 J  ^
>arranger
$ \; p. G! Q4 {8 G0 `>CDO(Collateralized Debt Obligation)/ e+ X. Y  u1 l: g) P
最後去到投資者

Kev

i thought it is the reason of rate of return.
( _$ f& F% ^; t' \CDs could have different ratings, AAA -> F,
/ D- S1 H0 o# H& d) ymore risky ones would have higher premium (interest rate) as a compensation for an investment.
5 U- s* |" h5 H& Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, K9 }' `1 P+ `" ]9 P! S" S
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 q! c7 H+ b! O* t
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 ~! g" R# C) ^. gsimilar to bonds, CDs trading in the secondary market have different value at different times,
9 f9 B$ y3 I) I" P6 R$ i; s. Fnormally the value is calculated by adding it's principle and interest.
' V; S2 _% K, V" [% d1 B5 z6 beg. the value of the mortgage+the interests to be recieved in the future.
9 B' _) Q3 y$ c$ c" Y) Z5 ?5 Kbanks 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.
# t  E  @& h5 H; bin stock market, it's the demand and supply pushing the price up/downwards.+ R% Z  R( Z7 @8 y
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& @, F. [) ^2 K$ R& r2 U1 @
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ N1 a$ A' @0 {9 u4 ?8 i; f; `
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. ) ~5 O) A+ Y# m9 {  {" ]
but the value of their assets did really drop significantly.5 ~5 s5 K, K! E+ ?* |

# n9 @* r8 H- N" }1 i; a[ 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* T, q, M4 c' s6 _0 l! o
Refer to last example,. N. N# T6 L. D( e$ {
that means bank A have no money because we borrow 10 dollars from bank A
+ H2 I' d$ ?' n- Z  A4 S% {% vBecause bank A doesnt have enough cash on hand / r' K) u9 Y+ X1 a
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: G% W' e3 I8 s' t+ n& CA->B->C->D->E
5 y3 r$ @2 Z' b* e, Yso does it mean if E failed to pay D, - d; Y6 I# F, u, R- J
all the B,C,D,E have to go bankrupt?# Z, ?* L9 e8 ?! l# X5 v7 l
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4 Q) \- _- b( ~4 v- Xthe multiplier just tell how much money created in a whole economy, ( K8 o, V$ l: z* z/ q- K4 e0 o
in this case it doesnt really matter how much money is created, ; {4 T' F( x* M2 f$ H1 w1 ]
it's the problem of the debt itself.
) \! E3 O, ?* Dthe 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
* v% A+ l6 S( a) g小弟一直都唔明...# Z/ C* p" E, h

, h4 R. `$ @  g' F- u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...- w: X" ~0 t: v7 b0 {0 o
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敬請各師兄解答$ s0 P8 m$ |7 W+ Z
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Thanks

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那些根本係 紙上財富  
% M. T; R5 ^/ |0 f+ C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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  ?, z% K. O. ~8 Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產! L0 V" O" U4 x9 b; u$ v9 @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& Z2 L! F9 C7 ~7 U, r; O) T9 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
$ F% c0 y' {7 N: p9 f個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 L9 p4 B5 K, r+ t8 y# I扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 ~; p: i' L$ N
計番回報率就已經係50%,所以可以好好賺
4 A8 h( h+ f$ G5 f% O! I0 r前提係銀行之間要互相信任先可以咁樣借法
# \0 }5 u( M) U; O同埋個市場既前境要係好先得
  P6 u: X  h( S但當經濟一差,公司估值趺了,物價不升反趺
% p# \8 S; @- A" v8 D; O例如剛才說10蚊的, 趺到得番9蚊,
, r; K) j& Q* G& G咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: }6 P6 z9 G0 Q0 E( E1 a+ i所以你就會覺得D錢好似蒸發哂咁
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6 ]3 P  R2 V! F4 ?2 w你都可以當標野咁諗, 個樣野多人可以狂升值,
9 @0 `/ D3 s' ^  C7 C2 j3 R  S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,
' |) y6 k/ K4 w  \; B& u: v1 ]. p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 l3 u& [8 `  c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 d/ T% Q# X9 K3 l: w( y
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.gif3 n3 B+ U$ z+ Q. n
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " r7 \5 l0 D; B4 Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , i0 p8 [( d' Y. @/ O: s6 @
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
% R0 h1 Y# t# ^4 b咁你話d錢蒸發左去邊? ...

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正係咁樣
5 d6 A# Q2 f. B3 C9 H; W( }0 n2 `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
- L5 C5 W2 s/ D0 X# P分分鐘佢地唔使還錢! T* u  N: F( @- f- D, P/ J+ p" d! ?
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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,
* [! C) r# W* h連國家都係問人借, 不停發債券, 印鈔票4 M2 d, N" ?6 k6 h( f  Q9 l4 ?1 s3 f
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 w  Z% H- @, h4 ~  @
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.gif0 a: W1 E7 S3 T$ {1 g0 y+ ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...# R9 `, Z' ?* i
因為以前未生產, 先消費
# h- ~* E) N# C5 Y. V- m* A# V3 m而家就要多生產, 少消費