0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ p$ U, e3 D0 w0 |! i# }0 _; `
Why bank will sell 借據給第三者???
' o. ]# I3 W0 a4 q. m, jI was so confused.....

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講到尾都係賺錢( G$ m0 `$ ]* }
so銀行可以不斷放款6 J, Z0 `" L" Q9 @$ Z* V0 J
美國的房貸問題散佈到全世界
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mortgage loan
- M6 m% s2 N2 l6 I' b% G4 L1 [$ o>conduit
5 N% W/ w; W, z2 M+ d>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation); U' q5 o( U& {. @5 {' I/ H% v
最後去到投資者

Kev

i thought it is the reason of rate of return.
8 m3 T4 l+ z+ {" UCDs could have different ratings, AAA -> F,( t- v& v% {  S# ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 O- @# J9 G: A$ a6 t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; S6 f* W; K# _* U% |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) G/ t7 d% H( E) A! I% d0 ^$ ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: a4 d1 \; J( b( q; W/ Asimilar to bonds, CDs trading in the secondary market have different value at different times,
0 K; h, @1 d) }0 T+ ?5 Wnormally the value is calculated by adding it's principle and interest.
5 b& [6 |/ c1 l0 ^: keg. the value of the mortgage+the interests to be recieved in the future. 3 L' W8 Q; b9 J! d/ C2 b
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.9 @! Y5 p- f6 ~  h7 ^2 R9 o

9 p, e$ x6 P4 y! C3 _im not quite sure if the multiplier effect does really matter in this case.
% L( g& ~/ |! hin stock market, it's the demand and supply pushing the price up/downwards.
4 O4 O4 Z# h* d* Z0 ^% c$ sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( V- S# g9 J' k. U% ~# nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 l! D8 G& a9 q- q, l+ _
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. ( j$ D0 t  c# B- R4 u: X
but the value of their assets did really drop significantly.' k# j( r1 O5 C( K

6 D3 i  a6 Z6 Y! Q& r8 l- k[ 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.gif7 ]$ [0 o) R, g: X7 a9 Q
Refer to last example,0 f# Z# f/ s- E# \" {3 M$ c
that means bank A have no money because we borrow 10 dollars from bank A ' Y3 J* ?/ [  h- K$ b7 q' c
Because bank A doesnt have enough cash on hand
* q8 G3 f6 P+ \+ P! O& ^therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E- S1 {. _3 V) h& h; d
so does it mean if E failed to pay D,
! E# D! J: t! ?4 U# nall the B,C,D,E have to go bankrupt?7 Z- H" O" T4 ?, V3 r! i) V

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5 J. b$ m; Z* A7 J6 cthe multiplier just tell how much money created in a whole economy, 3 _5 |- q" o( o) N3 V. D
in this case it doesnt really matter how much money is created, % I7 O; N  O( U% V9 x& F
it's the problem of the debt itself.( p  V0 H$ H9 |7 |$ {, [" ]* z6 t
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.gif
8 j. b* N7 c* K: o5 F" n. @小弟一直都唔明...! T; w* s: s0 \4 C) f

: v/ ^2 e* h* ], c& r全世界都蝕錢，咁邊個賺緊錢呢?
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' L( @! C- C7 P, E+ @8 C無可能淨係有人蝕錢無人賺架嘛...4 c+ i1 z: k" ]/ Q  p8 u& F

: @, o/ o2 c% o, z$ j8 C敬請各師兄解答& G$ P& }$ G' z
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Thanks

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那些根本係 紙上財富  ) D  t, e  e' z) s6 E
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+ l3 E: y2 [, H3 W) {
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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5 m3 t7 u* I# ?
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" A- B5 b3 A6 v8 Q1 ~7 B) D, t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) o3 y  \( F/ Q- J
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* Q: ?, a1 ]2 f% K7 B5 s) i$ J0 f扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# V6 p- M: t0 h# J
計番回報率就已經係50%,所以可以好好賺
  v( T. B, A8 g. L7 M. |* q8 Z前提係銀行之間要互相信任先可以咁樣借法
3 K! t5 {2 w" U2 P同埋個市場既前境要係好先得( r2 ^% q! M, k7 T
但當經濟一差,公司估值趺了,物價不升反趺* K; E# K/ l% Q' f- p
例如剛才說10蚊的, 趺到得番9蚊,
- l3 Q) [4 y' T1 B% X) s咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) G% P- O( X6 ?# S
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, . T& E7 M& e4 n# ?& O4 N
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, 9 g4 o8 ], Y( \6 [$ T3 V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' j9 p7 F# P! U% m7 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
# ~2 M4 s: w5 s5 O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
9 p: \& F" s2 w唔係d錢蒸發, 而係比美國佬洗晒未來錢, % ^( \& m) d1 f7 o( {2 n3 Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 z( L( s# ]% @" [) ^1 I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
9 [4 q1 ~& f" H3 t& l0 j  c$ t咁你話d錢蒸發左去邊? ...

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正係咁樣6 E0 h0 q& f0 n$ T
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% t$ F8 d3 X) O# A% U4 \+ M
分分鐘佢地唔使還錢
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& H' ^. G6 Q/ ~  J2 \/ ~+ }8 J2 ~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,
  j: s+ g6 \0 C連國家都係問人借, 不停發債券, 印鈔票! A* A* m, H4 F, h( B% q2 I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' T" |) \+ X9 Q" Q8 J3 G1 ?1 ?. O* P
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
2 j7 P" S; |2 y; T3 ]咁而家"爆哂煲"算唔算先至係變番"正常"???

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% c$ A" o. |+ [其實係...; }: f% e1 G+ _1 o4 A
因為以前未生產, 先消費
9 x4 y, t8 w! V* R! Q而家就要多生產, 少消費