0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 I; M2 D7 ~* {
Why bank will sell 借據給第三者???* V. u# {# ~( ]) x3 `
I was so confused.....

3 F: D6 q& H; |: b* }/ F  C  G1 `: ]+ e
9 ~' f% W% j7 _7 O, Q講到尾都係賺錢
. g1 W9 G! Q& e' _3 \% Rso銀行可以不斷放款
' l( r, M0 u# _美國的房貸問題散佈到全世界: u( K) L( Q! R& Z& q8 \

1 g3 p: u6 U" J0 ^- m0 j. Bmortgage loan
8 f! I  e1 e, ?>conduit
, f3 H) a. f. a6 ?7 }( |+ v" o>RMBS(Residential Mortgage Backed Securities)
$ A4 h: p. h8 G$ N4 h9 h, A1 ^>arranger& G1 c/ D: I' a$ @  x
>CDO(Collateralized Debt Obligation)" z+ f2 t  k* a. ~
最後去到投資者

Kev

i thought it is the reason of rate of return.
% r' }) j" ^! ?* T) M& r: z* FCDs could have different ratings, AAA -> F,
; \+ L# @6 }! W5 @. b/ m+ B+ P  h( Vmore risky ones would have higher premium (interest rate) as a compensation for an investment.3 v& e# U$ f5 {. T3 R
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' ]( e1 p( {+ Y. J( R+ S
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 x9 a. _1 Y2 a* ]  ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: ~  E/ c) t+ R% K& x
similar to bonds, CDs trading in the secondary market have different value at different times,
" V# }3 s% U6 Y$ F9 K& F8 bnormally the value is calculated by adding it's principle and interest.
7 S! C4 e% |7 X' s" M4 reg. the value of the mortgage+the interests to be recieved in the future. 4 O) m6 U* F$ [- R
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.
  K* s4 D6 }6 l
. q( a  D5 D4 rim not quite sure if the multiplier effect does really matter in this case.
6 g* t; V9 d- Ain stock market, it's the demand and supply pushing the price up/downwards.- `' V9 U9 ^' o$ _. Y8 u
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 ]( W1 z8 ]3 C, R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; \: ~7 @4 {9 }6 S
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.
( h9 _4 l+ X. ~* ~$ O9 Abut the value of their assets did really drop significantly.0 {7 d* N" t/ n  X0 h

/ f2 ?1 B6 V0 y$ f" ^) r8 B[ 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.gif0 v/ V$ N8 Z# S, p& \
Refer to last example,, S4 e4 y* G! P) R/ r- u
that means bank A have no money because we borrow 10 dollars from bank A 7 ^* }  c9 ^% f  X
Because bank A doesnt have enough cash on hand
: @5 G. l  J: G8 ?# ], W" {therefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 R8 q/ E2 G5 Z  XA->B->C->D->E5 N: {2 r4 x. J: k* N
so does it mean if E failed to pay D,
4 i0 _" j! C9 B* |# l, s, ball the B,C,D,E have to go bankrupt?
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+ X6 ~" [% K% v+ @# }; O+ X4 @% C4 O5 l# L* _$ s) }, f
the multiplier just tell how much money created in a whole economy, # j% w6 l* y! ~6 T3 l7 [# X
in this case it doesnt really matter how much money is created,
  J. F) v) V* `; {4 D' ?( H+ Kit's the problem of the debt itself." k- t+ b# ~; _
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.gif4 z0 ?) }& [$ A- H$ o7 G% ]7 l
小弟一直都唔明...0 A  {2 |  b4 M& _6 o( S

4 R2 u0 |4 f7 v0 ]: I- ?. o全世界都蝕錢，咁邊個賺緊錢呢?2 K6 h$ e2 {1 I. [

! E4 R: |, {* B4 ~0 G8 z6 `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: B5 j# L  s- Y0 w5 P3 i' F+ ^
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Thanks

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那些根本係 紙上財富  
6 d* ^  j) C! x$ G( z8 F4 i3 H8 Y+ y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 c/ L. S% v7 M3 ~+ s$ B$ `! s
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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
1 ?6 X4 c* b1 Y9 E$ ^: O4 F2 R; `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 T& x. T: e+ F* N' A. Q, n: d% e5 {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
: c' x" k$ T* q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ J7 |; u" e) g/ \
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 M# Y7 X0 W& |, j& \0 r: p
計番回報率就已經係50%,所以可以好好賺
9 R$ y2 O4 Y% A! ~2 U/ x2 S前提係銀行之間要互相信任先可以咁樣借法
& w+ \( y4 ?- S同埋個市場既前境要係好先得
/ J9 c- F' Q. c6 B" S- a" x8 v但當經濟一差,公司估值趺了,物價不升反趺
/ x; Z" N+ s( F) Q例如剛才說10蚊的, 趺到得番9蚊, 5 m& h; ]/ d, v+ [8 r6 R
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! a  R1 o7 S. [, T1 V
所以你就會覺得D錢好似蒸發哂咁2 G9 R4 E! Q4 e4 T8 }* f
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你都可以當標野咁諗, 個樣野多人可以狂升值,
1 y  U( P2 O. @" E/ x, 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,
! j0 L  E) d3 g2 s9 o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 a; D# }8 s3 W; b$ Z3 q
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4 B4 e8 x5 {& j  G2 s( g+ }. \6 u
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.gif0 l; F5 X; j" h8 _, Z
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' i! V; O- Z6 v. p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 x6 t6 a4 G9 ^) M  i9 V/ @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
& r; D+ u5 K0 s2 S+ |咁你話d錢蒸發左去邊? ...

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正係咁樣
: s$ ?) R3 S, Y" l! W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
( R+ E/ T) U3 _1 e, O8 d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,) t- _: I6 v  g: @
連國家都係問人借, 不停發債券, 印鈔票+ k: q" g/ y& P! x1 [4 Z, a" K/ h% E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 e' _4 q& Z$ y# i/ c7 r
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
# Z5 {/ a- y; ^2 r2 R. S咁而家"爆哂煲"算唔算先至係變番"正常"???

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& y$ v0 ~0 x9 g+ j1 \- M其實係..." Z/ U6 R; m5 [, @
因為以前未生產, 先消費8 `7 _9 V. i2 X. s! _
而家就要多生產, 少消費