0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' F9 B% ]. ^/ D- K! a/ t8 R; ?6 ~Why bank will sell 借據給第三者???
0 N# |) V5 Y- }I was so confused.....

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0 d' E1 p) o2 Y7 |; w講到尾都係賺錢- V! h7 l0 L3 k! x  z4 Q
so銀行可以不斷放款/ w7 _9 L% w' M2 Y
美國的房貸問題散佈到全世界! L- m. B; h5 T; x$ |) W+ d& V
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mortgage loan 1 t) r+ C* q3 m) X0 ?7 a
>conduit
4 ~# N- H$ r9 V3 n7 U* \>RMBS(Residential Mortgage Backed Securities)
, F# a! P8 [4 R) o/ n>arranger
+ F6 G+ y9 A1 {/ O>CDO(Collateralized Debt Obligation); U; K, k. k/ ?0 |% b* N9 F7 E
最後去到投資者

Kev

i thought it is the reason of rate of return., A  h: [* q2 r$ M% x3 B' e
CDs could have different ratings, AAA -> F,
3 D5 w( R$ t) S# ~) \9 H3 C% Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
- O  E9 c% B+ i" u' T- \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( E, ~& ^' V$ n3 E% F7 J1 E& ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 j; y, c: G; `' n: }: b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' |% a4 }3 f! D- _' m2 z) S9 j# x
similar to bonds, CDs trading in the secondary market have different value at different times,; z4 n  ^5 J% h4 E$ p" g! n
normally the value is calculated by adding it's principle and interest.
1 F3 N! l/ b' I  d2 {% keg. the value of the mortgage+the interests to be recieved in the future.
. ?2 N- ?' e2 @; ?: s  l+ d5 E0 Qbanks 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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' J, M5 c: i# n- _3 p7 ]im not quite sure if the multiplier effect does really matter in this case.
5 @) b% C! p3 J0 |! v# V* y, }in stock market, it's the demand and supply pushing the price up/downwards.
: [3 G4 ]7 D% R+ {* `7 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" t$ L$ `4 ?3 v) |2 g; h+ `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 J6 m) d' {4 C* U" s% r# _
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.
. C  Q, j; Q  u6 j7 Obut the value of their assets did really drop significantly.
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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. {8 r, U2 C2 M1 {. [* k( Q0 Z
Refer to last example,
! B) n+ \/ ?4 g! x/ `9 D* @that means bank A have no money because we borrow 10 dollars from bank A : {, H" A8 Z, s5 Z' r
Because bank A doesnt have enough cash on hand 7 l( Z, g! Z' F! C7 X" V4 G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ B+ T8 W  z1 g/ m
so does it mean if E failed to pay D,
+ ]1 y/ V+ E4 P/ Gall the B,C,D,E have to go bankrupt?
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* R0 l% u# n4 W3 O, ~the multiplier just tell how much money created in a whole economy,
; C7 z6 B  B" u7 ~: Cin this case it doesnt really matter how much money is created, + s( V! P: @" ]
it's the problem of the debt itself.7 y3 Y- ]# u4 Q+ B: ]2 o
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
7 k- e* h  K- z; D3 e% H! |8 }0 E) e小弟一直都唔明...) @+ x. n* G+ m4 d) {
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全世界都蝕錢，咁邊個賺緊錢呢?  j  r: u: w/ j; p, M9 k% [" Z

9 e9 j6 N% _3 C2 R6 e# }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* u% t& e' U) ]9 E
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Thanks

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那些根本係 紙上財富  + q* N5 X; |% w2 I2 g" P, Q
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+ f6 G3 P: o4 x: A. z; x$ g

9 k$ ?4 z- P# j- n! Shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 q0 X! J0 C" s6 H  m, E當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 y) p8 E& V/ j7 l  e8 K. M
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
# U  O% v) I/ W1 E% c6 {( T. F個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( [3 y2 ?/ L) w: p$ z& E7 c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 |* t" I: t2 h/ E計番回報率就已經係50%,所以可以好好賺
( |% Z- v" P& b7 C" J前提係銀行之間要互相信任先可以咁樣借法! }, m$ q: I; M/ t2 j4 b( u% b/ }% z
同埋個市場既前境要係好先得
9 s: d4 r$ T& S1 x5 l+ v0 [& V但當經濟一差,公司估值趺了,物價不升反趺) j. k1 j0 n8 M% H
例如剛才說10蚊的, 趺到得番9蚊,
+ p5 l9 p0 n  M& c0 M6 n咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
- M; A5 y8 ^  S, {所以你就會覺得D錢好似蒸發哂咁
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# v4 @% |) `) p  Y你都可以當標野咁諗, 個樣野多人可以狂升值,
  @' J$ Z0 h0 ^( b$ V6 I! q, P) ]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,
# P* ~" M! d# f+ V) U7 B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & B# j  Y, u3 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9 V3 V$ _. _' U, k+ k6 m
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
% D6 Y& h. `4 F" j2 z, x% J唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! m6 a2 r/ @5 m3 X$ H" E: ~' T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( [1 Z  g4 Q& ^# x8 f+ [/ C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( w' [- |3 I. q3 L
咁你話d錢蒸發左去邊? ...

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! h9 E5 [+ A  _" k: ^+ Q& U正係咁樣
- o; Z' l1 o* K+ T- z' P$ f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4 d. \9 i; W# c! Y9 b$ d1 m
分分鐘佢地唔使還錢! ^  n' U% ~' p# O) B: m0 E4 q- u: H( C
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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,; g& D$ b3 W$ t$ c: c6 w/ s
連國家都係問人借, 不停發債券, 印鈔票3 z3 F3 A: K& A
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 Z, V; ~$ o/ _
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
. F. i: g( F$ s咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ E/ T" e" a1 b( h) C- R其實係...0 m% ?. T/ l7 V: F% o9 R& n& v) \
因為以前未生產, 先消費
/ f* F* g4 }0 k* a而家就要多生產, 少消費