0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ V& j. s: g0 p- G" Q
Why bank will sell 借據給第三者???
. B4 g# w# M& m* k6 FI was so confused.....

8 X  j; y) t) `1 P9 C( \' J

1 z; P3 x) a& [: c% {講到尾都係賺錢1 H3 d! ?' _; c
so銀行可以不斷放款
  C8 a! E2 t$ e- B美國的房貸問題散佈到全世界5 F7 T7 }9 }, N* D' ?8 r

0 N; C$ g2 X7 W; d& Amortgage loan
% l* p$ I7 r+ x% e2 m>conduit* M! x9 |0 M3 g$ g" W0 m- G# n
>RMBS(Residential Mortgage Backed Securities). T! j2 G2 X: N# d
>arranger' r( U( p$ c; g: o$ D
>CDO(Collateralized Debt Obligation)( m9 n9 K: `2 |
最後去到投資者

Kev

i thought it is the reason of rate of return.
+ O4 m" m& c/ M0 ^4 lCDs could have different ratings, AAA -> F,
6 D9 R- _5 |* n$ p0 Amore risky ones would have higher premium (interest rate) as a compensation for an investment.+ a* Y3 Q; Q& a
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," B1 I& F) P7 j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- s0 c0 r/ |' e8 h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: j! V6 f, ~% }! L5 ]similar to bonds, CDs trading in the secondary market have different value at different times,* z4 R0 T* u  J' f& e+ w9 m
normally the value is calculated by adding it's principle and interest.
$ b* R* p3 r% p: F& t4 Reg. the value of the mortgage+the interests to be recieved in the future. : `) ?& M/ \' p+ r) ?# i
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.
4 Z5 a+ b: `0 t6 P% o+ Y
1 h7 o0 A$ B" \  O8 Z6 E+ uim not quite sure if the multiplier effect does really matter in this case.
# {5 T: p2 ~2 t3 q5 Min stock market, it's the demand and supply pushing the price up/downwards.
( T; e/ N; _, h2 z& J" uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) y9 F5 W# W3 k/ S5 j
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* p0 {* q7 U7 l/ E0 [7 G6 o
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.
% T. J6 A( \: L8 F8 M4 G! zbut the value of their assets did really drop significantly.
: X3 z6 N3 ?+ Q1 l: I! n. q$ ]8 U" e3 A4 [
[ 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
$ B$ z5 @# R; B3 W% _& U  L2 U0 e, ~Refer to last example,
- q. [% B8 f- n% E$ @that means bank A have no money because we borrow 10 dollars from bank A
, r3 _- p' b! a" R" cBecause bank A doesnt have enough cash on hand
  X5 j1 i( Y" t+ q7 Btherefore bank A need to be bankrrupt ??? Am I right ?? ...

7 a9 }5 Y& I  b& n
+ D5 a1 g/ V7 F. I+ V, m8 X/ e9 a. [2 ?7 G+ Y, o( L8 o$ `
A->B->C->D->E1 x* X# V0 I5 A5 L" Q. C' ~* E/ _
so does it mean if E failed to pay D,
5 Z! m6 B, p, @# v: C! j0 t1 vall the B,C,D,E have to go bankrupt?2 n' N, h; H' Q" w3 E7 Y) c. w9 ~
- A" Q, m4 i; d2 X, E7 B, H
2 P/ z7 `$ F+ W* ?( H2 i/ W8 r7 L
the multiplier just tell how much money created in a whole economy,
# G' y1 \' p/ u4 G; _1 Yin this case it doesnt really matter how much money is created, 9 h) m- o; w% y* B$ z  B: r2 D
it's the problem of the debt itself.2 m, R; m( a# z( ?. V
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
3 A/ {% B+ n1 ]9 W% I小弟一直都唔明..., M& o) I/ j4 `: g7 y) h6 N0 B' m) D: k
% u; L) m) ^% y+ D9 d* i; X0 K7 w
全世界都蝕錢，咁邊個賺緊錢呢?
/ u) N$ r* ^) B' w& _# _8 B2 C9 i; U$ N  ~: ?  y& d
無可能淨係有人蝕錢無人賺架嘛...' G# f  g1 Y9 F: y  ?! v2 D. d! q4 L
! G. {6 z) \  ?- A# s7 `: i
敬請各師兄解答
  x, J9 E. L4 C" @
& h# l+ C6 N: F" e, J( i: X5 mThanks

6 z2 R" U( q3 g* Q* P9 k% b8 V" f那些根本係 紙上財富  3 \# Q. w2 S% y2 i' O
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
/ Y2 m" r% \$ R; i2 t, n
. G: y; W0 @# H( a, u+ J! }- fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產. d2 j9 ]$ s5 u1 B5 r& C
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 b, ^1 D, t4 l5 T% x. Y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
$ ^; v2 N/ i% o, n7 h' ]5 J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: f5 v: B+ q3 i' L$ a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  _+ S- W# a- J
計番回報率就已經係50%,所以可以好好賺
. w3 ?6 @, p  u. E: @* j前提係銀行之間要互相信任先可以咁樣借法6 I0 X0 ?, g5 Q
同埋個市場既前境要係好先得% ?; P  F# m. G; u2 m/ s
但當經濟一差,公司估值趺了,物價不升反趺
7 N2 f9 _) w& J# ~5 _2 f3 G例如剛才說10蚊的, 趺到得番9蚊, 2 n4 G9 v0 t) z- b, R; {% a0 C- ^2 Z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% ?$ a4 I6 ^4 r' x所以你就會覺得D錢好似蒸發哂咁
# f: J6 V. V& l6 f& Y( }% A+ c# ^4 U: F4 x1 r' T
你都可以當標野咁諗, 個樣野多人可以狂升值,
( Q8 H" T$ W0 b: i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 D- @& D% h5 i* j. p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& d2 N( k9 |. B/ v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" i; j$ j% F5 d+ l4 I' \( 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.gif5 V; s  r! {  I: ^/ j1 i, l/ C
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 z, b2 G! i9 A- U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ r( w. j0 I( ^' ?( b& P5 |, K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
- ]0 w# F, z3 k8 y咁你話d錢蒸發左去邊? ...

+ g2 Q& e" L# j9 }. C( V% T8 @' k  |3 f
5 v9 {/ b% Q9 D/ i正係咁樣8 i4 E" ?" E/ d  |8 u
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9 \( I/ m7 ?# J, i; c
分分鐘佢地唔使還錢
! D% ^$ ~8 T0 u! P4 y. A+ m/ @7 a  i: z2 p& D7 T( }; e% J* B
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,: v$ O. l* \0 d- ]1 }# \, w4 W, h$ [
連國家都係問人借, 不停發債券, 印鈔票
; {( K2 u! X. \  P) h& B一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# g% a8 j! X1 a% z7 d
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% z6 ~  \2 L1 ?% r  ~, q
咁而家"爆哂煲"算唔算先至係變番"正常"???

* B, w. i; B" D2 h, Z4 z6 P' J0 u: p  d4 F0 V* x
其實係...
$ b0 }: \2 P) ~! _0 V因為以前未生產, 先消費& M: w' Y$ Z6 c( b$ E6 t. z
而家就要多生產, 少消費