0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* b2 c3 E. R, K1 C% ]: R" j
Why bank will sell 借據給第三者???
' Y1 W8 d( R9 b% |- p0 \I was so confused.....

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$ i7 w3 Q$ |! J% B. x' y' J3 r講到尾都係賺錢& K6 m* }8 o. u8 P% Q$ S
so銀行可以不斷放款
( g4 }8 d6 e$ M( m  q! O* p美國的房貸問題散佈到全世界  a$ {9 V; y- I1 M

9 h9 g7 |7 t% U" X  i$ }mortgage loan
, ~9 |+ p; I' ~$ ]; d# R0 g>conduit
5 r' V/ K( @7 e7 F9 {& ?>RMBS(Residential Mortgage Backed Securities)$ S) ?1 F1 L# U# J& [; v: y% ^
>arranger
" y' P2 ?6 z2 \+ u>CDO(Collateralized Debt Obligation)! T4 U9 s% {1 ^
最後去到投資者

Kev

i thought it is the reason of rate of return.  {8 o# L0 L; {
CDs could have different ratings, AAA -> F,/ @# u3 i0 w. ~; @- x/ x
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& J+ d- e2 g; a1 _7 _+ V' C- \8 imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 s; Z  c3 Y  i3 pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 A. I: R9 E/ o# {. T- [+ j3 o7 O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 i; U0 c  q% `2 {similar to bonds, CDs trading in the secondary market have different value at different times,
- J' g& S/ h( N9 G+ \normally the value is calculated by adding it's principle and interest.
+ A3 D2 f7 X1 t. i) x( s% keg. the value of the mortgage+the interests to be recieved in the future. ( Q- R# H6 [( ~* ]# R. _* k! s
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.; X2 u) T1 M. z. A

( R+ S1 D" f- }0 E* N8 {. ]+ y$ Xim not quite sure if the multiplier effect does really matter in this case.
) `: e$ {9 {, i# h" D; N4 i2 P; d$ min stock market, it's the demand and supply pushing the price up/downwards.
. }7 U3 h# F9 g) U+ TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; q! _3 w: Y  u/ W- n/ _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ |0 f/ @* I% M" R4 X* j3 PThe 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. - W5 v2 l! c7 \  R
but the value of their assets did really drop significantly.# V$ @( x; j3 j3 k- Q. u( o
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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" r) U# H' ^( \
Refer to last example,: L* [7 v5 y' A6 g: W1 h
that means bank A have no money because we borrow 10 dollars from bank A 2 J  [, b) i/ z7 ?0 y  U
Because bank A doesnt have enough cash on hand . Y+ h8 [' [- }0 l3 P
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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! }( A% ~& o3 y& G) UA->B->C->D->E
) B7 E& y- u. u1 L/ mso does it mean if E failed to pay D, , G% \4 {: p0 |
all the B,C,D,E have to go bankrupt?9 Y* U+ X* C: r) E4 e8 J! ]. R
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the multiplier just tell how much money created in a whole economy, 5 o/ |9 F, o* i' W& n1 p5 L
in this case it doesnt really matter how much money is created,
  X! M* U7 k( |0 Lit's the problem of the debt itself.8 H1 T9 [# ]4 L
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
& G- f( a  |* S: V小弟一直都唔明...+ @/ u) I( l5 r/ J) |
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全世界都蝕錢，咁邊個賺緊錢呢?6 s8 B) k) a4 ~! L' u
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無可能淨係有人蝕錢無人賺架嘛...: u7 R2 `* @: w: [
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敬請各師兄解答, ?) J( n$ c, u

  O8 P. V- H% `( T7 Q& AThanks

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那些根本係 紙上財富  ) w0 N# P3 t2 v
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 graphic8 F- G- C$ o+ ^8 Y! B- k$ p

( H7 o' s; `; Q7 z( Bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ f3 F8 O# J$ m9 q, M1 t
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  v7 K0 @2 A. G6 b% b) W- Y! S$ I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( T! N6 U0 A, G
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: K# C( U! {5 |  q0 f' E扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 o3 r3 Y0 n' V) @* C計番回報率就已經係50%,所以可以好好賺3 q# |4 e: |& y* O" A. f
前提係銀行之間要互相信任先可以咁樣借法
, g" x9 T6 c0 \! S9 q同埋個市場既前境要係好先得
2 R6 r& {) L2 O' N# |+ ~但當經濟一差,公司估值趺了,物價不升反趺6 F: x) v0 R1 R! u: U
例如剛才說10蚊的, 趺到得番9蚊,
3 K. I" H& [# C/ V) U9 z) Y. f  a咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ ~! ?2 I% `' w- i4 g% K0 `# x2 C* u所以你就會覺得D錢好似蒸發哂咁
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; _* ?' i+ {1 J你都可以當標野咁諗, 個樣野多人可以狂升值, 4 w! k6 M! T' s7 {
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, 5 l7 ~2 A! Z; k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 z. k, w6 ]1 F$ I+ i) X1 U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 k" ]* P8 Y) r: N) \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# h4 V9 X6 T( g% V* k
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . z5 W: f( O) J9 U2 y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 R. u3 Z* B, D' b
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; K. j/ ~4 i: `0 U, ~
咁你話d錢蒸發左去邊? ...

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正係咁樣- p# X" S. f) G+ n, Z
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
8 E: l- m8 O! s8 T" q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,; _! J9 y3 A/ d& ]  @8 a6 h! l6 S: K
連國家都係問人借, 不停發債券, 印鈔票
6 l$ L; j/ E4 e6 l7 H* G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
5 K9 @4 s. ]3 I7 Q4 @; 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- t5 ~7 y# s; ^) X8 W) [* e: S
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 f: {) `. V7 U: L( Q3 x因為以前未生產, 先消費$ ^& O: I- T$ D- U' K, k- N
而家就要多生產, 少消費