0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 e7 [5 H6 P6 D& M
Why bank will sell 借據給第三者???- \7 O  ~1 U2 m" k. a
I was so confused.....

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+ G9 Z2 X% o" J# K7 e" `講到尾都係賺錢5 N, }1 r8 K' v  k) |3 C2 q
so銀行可以不斷放款* s( g8 y# O$ w, h) ^0 Q2 I
美國的房貸問題散佈到全世界9 Q9 C) t4 H5 q  `9 q5 N

( h- z# q  R. J- {3 V3 Omortgage loan
9 X1 I6 U; C; H  P/ i>conduit
$ B% L9 Y4 J: e9 U# `; J1 O0 _>RMBS(Residential Mortgage Backed Securities)4 `8 f# h" U- ?% ^6 u  ^- m1 V8 I
>arranger
, N" ?5 c# z) U* V>CDO(Collateralized Debt Obligation)
( }8 y, e0 G! x6 L2 f% f6 L$ m最後去到投資者

Kev

i thought it is the reason of rate of return.8 f  |2 }+ p1 F: x3 _! a! m
CDs could have different ratings, AAA -> F,0 Q. s9 W& J& T: t
more risky ones would have higher premium (interest rate) as a compensation for an investment.
  l4 M/ J7 b0 r) F1 ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ o' C+ [. R, G. ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ A) a" ]# x; \: x8 AAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 c* q1 a/ U( b4 v
similar to bonds, CDs trading in the secondary market have different value at different times,
! M- a7 z+ u; j" t* Gnormally the value is calculated by adding it's principle and interest. 6 `6 K0 L" R" I' [" g/ Z
eg. the value of the mortgage+the interests to be recieved in the future. 4 L* D/ L' u. V' F, J  H
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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9 Y+ l8 a* i  ^+ G; lim not quite sure if the multiplier effect does really matter in this case.
/ b2 ]5 d% O1 l5 A9 b! {, Pin stock market, it's the demand and supply pushing the price up/downwards.4 _& ]: E" ^3 e6 U/ h8 j0 H- T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. d% q# J, T. h" DA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& L4 f; f* M, Q" O5 ^7 E- aThe 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" H' Y$ ?& Kbut the value of their assets did really drop significantly.
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/ w! ~5 b3 M1 ^8 L[ 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$ g9 S8 q/ F4 ]+ W
Refer to last example,  m# A3 c. O1 Y8 Y1 d3 P
that means bank A have no money because we borrow 10 dollars from bank A
' U1 l! S) n9 X' n, wBecause bank A doesnt have enough cash on hand 1 e! \, q- m0 X# w, C; b% C9 t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 k7 U# J: w$ T+ ?; G4 S# [so does it mean if E failed to pay D, ( z+ r, h; s. y/ H8 y$ z
all the B,C,D,E have to go bankrupt?, T/ d1 X& |- H

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2 g3 N1 L* X  H8 ~$ Hthe multiplier just tell how much money created in a whole economy,
6 W4 i: |! S( ^, ~6 `: m- B% c/ Ein this case it doesnt really matter how much money is created,
# f' z6 d: ^5 k' C, s8 Uit's the problem of the debt itself.
% A. D. w$ b1 T+ G" Jthe 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. l4 v4 Y# B; X: x2 \
小弟一直都唔明...! _4 b7 C$ x8 p' H  H7 E
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全世界都蝕錢，咁邊個賺緊錢呢?
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* Y8 h9 O  [: b; s7 s0 X7 X無可能淨係有人蝕錢無人賺架嘛...9 B: V& w  A; C% p. E* H& d

7 J" K: ^# ]# M. H4 p敬請各師兄解答! X  [+ s% f! G8 J+ Q+ Y0 `
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Thanks

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那些根本係 紙上財富  # j* f$ Y2 Q9 W* w! V1 A
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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& Q+ C3 F9 `' `% b5 Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產- L1 X4 a- [' v! [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* F: @8 S$ c, G' C  S* h
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 B0 x8 p2 i3 {3 y. I) |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: I6 g. G+ g% e1 S
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
5 ?4 y$ V5 v7 H0 V% j! @# W計番回報率就已經係50%,所以可以好好賺
/ j2 w' Z6 l! `7 l! n+ A前提係銀行之間要互相信任先可以咁樣借法+ o* D+ x4 Q, v4 E; B
同埋個市場既前境要係好先得
2 U3 y* B+ }) E& T& l9 ]3 ^' R但當經濟一差,公司估值趺了,物價不升反趺6 R$ G3 f1 X5 Q5 P& H5 R9 A
例如剛才說10蚊的, 趺到得番9蚊, / t( v1 `: J4 @$ R. Q: J. a* h/ |
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ f1 p& G" c0 \所以你就會覺得D錢好似蒸發哂咁
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! ^# {% o  ?8 `* n. k5 e, L' a5 g你都可以當標野咁諗, 個樣野多人可以狂升值,
, d6 o; i3 H. E1 }  Z; c- y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, ( g2 z- w) Y' z7 |4 z. p0 [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' _( e+ P3 A1 }4 `; r
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
6 Z1 c/ {* a. f5 ^6 p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/ \; M. V. y. y" ^- k
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 m; b2 k0 P  p: \. b( f( ~* D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: Z$ i* e; Y1 l( a  P; {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
. b4 \' j0 |* H* F( C. k. [" C咁你話d錢蒸發左去邊? ...

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正係咁樣
  ]" I- z% E1 o) V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5 v6 _0 X* U4 b' \9 b7 {
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,
0 ?1 p% H2 p9 w& G連國家都係問人借, 不停發債券, 印鈔票- k8 r2 e$ m& C# j# l
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 q: w4 q5 D, d# Z! 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# y; S5 W5 D$ g' F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
: s" ?0 d7 \4 `% d因為以前未生產, 先消費
& L2 o% f/ \9 z' L& c* |! X2 i而家就要多生產, 少消費