0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ r/ e6 X2 `/ c- [' ?1 |" B
Why bank will sell 借據給第三者???
) _% g" ]$ u% pI was so confused.....

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5 d2 K" Y8 m1 C; u- `講到尾都係賺錢
0 F  \3 Y+ L) ?3 @0 K9 J0 O4 {so銀行可以不斷放款2 C3 B+ y& G" P3 C
美國的房貸問題散佈到全世界, R3 v% c8 e! O0 n4 n1 l
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mortgage loan ) \2 C9 V/ I( G$ K4 w( T
>conduit
  I; t: ^9 H" W2 N6 |% w. M>RMBS(Residential Mortgage Backed Securities)/ r4 t* [4 V; a& g0 r6 d$ |( M  V
>arranger
+ q- i& E" t6 z7 V' _8 E) _. S9 k$ c>CDO(Collateralized Debt Obligation)2 L8 Y6 @( k% l) ~% V1 G
最後去到投資者

Kev

i thought it is the reason of rate of return.
$ h3 H) s2 I# i( w5 rCDs could have different ratings, AAA -> F,
5 T# _! ^' a  hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
! D( f- z6 b; C& b3 rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 I& a$ X; B0 Z) K- w' g7 @in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- _  H) @/ s: L( D. V
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; C' @4 t0 w* D, [5 m# |8 osimilar to bonds, CDs trading in the secondary market have different value at different times,
. |' _6 g, h" s" p; D4 tnormally the value is calculated by adding it's principle and interest. 3 i, p9 t! F, J2 T1 f7 A
eg. the value of the mortgage+the interests to be recieved in the future. , _- @2 u0 }5 M6 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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# V: Q# C; y, m9 ^5 O6 Q1 {7 O. oim not quite sure if the multiplier effect does really matter in this case.
0 L) V" l' H0 vin stock market, it's the demand and supply pushing the price up/downwards.
& m' `# K; w6 d! d" ^0 f* FFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* z8 N& D3 i$ T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% r/ ~7 g- A. t; ~
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.
9 ?( a. j0 v" |$ j( |# l3 b. E0 ^; Fbut the value of their assets did really drop significantly.
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* I, N9 N/ I6 j& K" E[ 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
% p' P8 X" X( uRefer to last example,
) i1 i4 I$ n  B& T+ athat means bank A have no money because we borrow 10 dollars from bank A
; @  o3 b" B0 z8 U3 L6 e/ j4 q& cBecause bank A doesnt have enough cash on hand
. w% a7 R/ D: o" U8 Ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E8 H) ?+ n, w6 I+ n+ B4 Q4 m  W
so does it mean if E failed to pay D, $ U4 }* `5 _! R
all the B,C,D,E have to go bankrupt?& j) T; L6 W8 q

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the multiplier just tell how much money created in a whole economy, # f. w, M# Y- J
in this case it doesnt really matter how much money is created, ; H9 _0 N3 Y3 i3 O/ H2 V' C2 ]
it's the problem of the debt itself.
9 p# u+ }: a9 T/ W+ ethe 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
' [/ A( k, E% E  |/ D; {, X小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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& v) Q# t& x* Q/ K$ 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
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# r! S% x: S; Y% g7 e+ _  cThanks

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那些根本係 紙上財富  ! f2 w9 _' I  {* G! ~
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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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# k# e- q" ~6 N4 W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& U9 n8 B  b, I* h/ V+ \: N. K
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% \- O) P8 f( p" i8 y- A
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  i; @, q0 F) |+ S9 z% r
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* k3 L8 X1 S4 \6 W3 Q! a5 X# y
計番回報率就已經係50%,所以可以好好賺( q8 h; L' |& H7 b+ [4 M. X3 J
前提係銀行之間要互相信任先可以咁樣借法
# L+ Z. S2 @4 v# N# M同埋個市場既前境要係好先得
: C: J! M6 D0 }) u$ b3 x: ~但當經濟一差,公司估值趺了,物價不升反趺  R) I1 G$ h" X2 i
例如剛才說10蚊的, 趺到得番9蚊,
3 u6 @( y' ^3 f6 M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ w% H& T6 i1 M, f* u" @% F所以你就會覺得D錢好似蒸發哂咁
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8 c; `6 n* Y9 x" @0 n- d你都可以當標野咁諗, 個樣野多人可以狂升值,
1 T+ K4 j  k4 I- w9 J& @# o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, 4 ^/ U2 h0 f: ~! q: ?7 J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 }! `1 C, N, A! m& [
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1 J& e0 a& H7 s2 O( A
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
$ L+ t- P3 C8 W2 _2 X6 x* o: C唔係d錢蒸發, 而係比美國佬洗晒未來錢, " i. [! P( w$ n0 Q% R$ L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& W- e% |# V8 _! ~. \# R7 Z* h* t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
! d+ R1 P9 ]( T) G) {) o# \# `咁你話d錢蒸發左去邊? ...

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正係咁樣) x  l/ J1 J. G5 D2 o3 H
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7 ~% K$ z5 n: x# u' f, j
分分鐘佢地唔使還錢
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/ M* i4 b7 n' _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,. |  N; Z& R+ c5 h$ h
連國家都係問人借, 不停發債券, 印鈔票9 A9 Q$ _# M/ G6 ?% q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" U/ U& [& ?/ {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' X& @; w9 Z, U. }! c
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  N# _  C7 l* {因為以前未生產, 先消費
' Q* |+ J5 X& U0 m! h0 a而家就要多生產, 少消費