0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! E# i4 H0 a7 @. g% n: R9 |
Why bank will sell 借據給第三者???
7 x5 v' k: R( r, t% N, QI was so confused.....

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講到尾都係賺錢/ s; ^8 [* s8 g* v* y" R  r3 J
so銀行可以不斷放款" `# Y7 C, h# ^* Q. n5 h
美國的房貸問題散佈到全世界; [- ^8 K5 R4 x4 ~$ u( W$ z

. m" ~4 n& l4 Ymortgage loan
5 h8 r" j. X: Y8 u) a% ?( b6 r) ?>conduit: c5 Q) g1 g( q
>RMBS(Residential Mortgage Backed Securities)6 H' i- _0 K9 Q- Y  J
>arranger
5 ?. o  {, ?' d- k9 U>CDO(Collateralized Debt Obligation)
0 d' ^# i/ Y% [2 V' v最後去到投資者

Kev

i thought it is the reason of rate of return.+ b+ ?% d' |5 L6 ?9 w( Q2 e
CDs could have different ratings, AAA -> F,
& v% J. @9 e/ T* Y+ X* Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- ?2 R% n; z" Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 z( c: ^; ~# S% U+ x) q1 ]* W1 jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' }  ~; {, q- b( G4 fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; W# c; k4 c4 C2 d
similar to bonds, CDs trading in the secondary market have different value at different times,3 m/ P- G( |* f2 Z9 O, W) I4 d
normally the value is calculated by adding it's principle and interest.
- z: [7 i7 X2 N) [' seg. the value of the mortgage+the interests to be recieved in the future. - d' a; ~: X5 x4 M' w# u
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.
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/ u+ [+ A7 }& W- `. R% dim not quite sure if the multiplier effect does really matter in this case.  |" X2 E7 [  q5 a$ @
in stock market, it's the demand and supply pushing the price up/downwards.% [' L9 i3 O: m4 \* B( J. D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, H. Y' h& n; p. h% [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ D: K" D( @5 g& ^! J1 L* 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 b( ?2 k4 x8 U5 Wbut the value of their assets did really drop significantly." ^7 ~: N% P* I1 Y  C
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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
. e* `3 s! |2 e. @Refer to last example,
4 H7 d1 Q- L  L" w- ]$ V4 u! Lthat means bank A have no money because we borrow 10 dollars from bank A
7 v+ t" [( \. k  G: P' F8 _Because bank A doesnt have enough cash on hand 9 q$ i- d, X5 V% F; G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 A4 H) a% l1 v" k( sA->B->C->D->E! N. H3 I3 S( D6 R; H* s
so does it mean if E failed to pay D, + B' A( T5 l& l" |
all the B,C,D,E have to go bankrupt?* J# H& z% o% `" t* m) c

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the multiplier just tell how much money created in a whole economy, , Y" Q  f. A# _& p1 g, G
in this case it doesnt really matter how much money is created, . o$ c, H6 a9 @2 g
it's the problem of the debt itself.
% H1 S/ M" [: h" z- O. fthe 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/ ?; c0 q9 N  _" b) f% \+ j
小弟一直都唔明...$ }1 V/ {) ]: I! L  J- d4 R2 T; Y7 D

7 C# U) u$ R: Y* k' D0 D, ]# `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...# N5 _' G3 @1 C6 k
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敬請各師兄解答
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1 G8 t6 K* Z4 v8 ^* Q5 J9 }8 ?Thanks

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那些根本係 紙上財富  
  }+ i3 M6 P7 u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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' C( z' U9 h2 I# z4 Zhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ l% g8 D/ J; U$ A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 z- B3 q% q8 n: X' U6 @, w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
9 [" }# }4 L3 T( n個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) ^/ W+ ]2 A+ S" g6 p# C# R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  U( ~) P: A( u: _% x$ b; u計番回報率就已經係50%,所以可以好好賺% [' R. N# _, F- _8 h  {; j+ s
前提係銀行之間要互相信任先可以咁樣借法
: v; O/ ?& D/ g: D; D) o2 A同埋個市場既前境要係好先得0 o7 [0 K4 S' [( Z4 A1 w1 w
但當經濟一差,公司估值趺了,物價不升反趺
  l1 o6 A' B; h2 r$ F8 z例如剛才說10蚊的, 趺到得番9蚊,
" C$ h& \9 r' z6 Q) y3 ^咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ I' T! W! f" q8 e& @9 ^! a# |
所以你就會覺得D錢好似蒸發哂咁( C4 f) C) w  E' D' z2 F' ], T
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你都可以當標野咁諗, 個樣野多人可以狂升值,
& e* `' p, l1 V' {. M1 v7 ^$ o0 l- \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,
! F# i, t" R: q0 \  M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; ^5 l# R7 [2 x3 g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 d) [. G! f- b- ?2 f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
1 Z3 l" f$ r) {唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  e, R- B* w' }  Z) N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' g; f  Y4 a: v8 b6 S# X; a
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+ S; U5 Q  N  P( I5 f, n: K. C
咁你話d錢蒸發左去邊? ...

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正係咁樣( s& }. G" `0 Q6 }$ `
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
1 ^) Y# z1 a1 i* f0 x分分鐘佢地唔使還錢% x7 C# w4 p$ H0 ~- @$ F) t, _# r# x

- o" d; K$ v5 G; F1 O  x; J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,+ v  p7 A6 P5 a( `
連國家都係問人借, 不停發債券, 印鈔票
  y3 w& s! S' Y8 f: `1 q. I一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 t& v( y4 C# w  b. g
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( x0 _* Y. C) y8 F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 R0 M; l% x" U/ X其實係...
/ o; d% V# J( z. F+ K因為以前未生產, 先消費
* z# x. x( T  {* U+ X: k而家就要多生產, 少消費