0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 N4 G, x9 w. F7 P; ~/ h
Why bank will sell 借據給第三者???
, e0 W+ K$ r$ H8 \I was so confused.....

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講到尾都係賺錢3 M& W$ n9 z6 o" V
so銀行可以不斷放款+ t( L6 m% u" {8 \! k9 j" y
美國的房貸問題散佈到全世界
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* d* E6 N! _9 I8 W2 Pmortgage loan
5 O3 U9 B4 n4 w! w; X>conduit
  P+ X0 e( O8 m. |0 N/ c: Y>RMBS(Residential Mortgage Backed Securities)0 ]% @7 b0 n, d  T+ O6 Y
>arranger: N: a) K) U# f  d
>CDO(Collateralized Debt Obligation)
; T$ I5 n& l: G9 ]5 f+ O. J最後去到投資者

Kev

i thought it is the reason of rate of return., A( p/ f3 j, m+ Q/ z6 I1 M$ A& j
CDs could have different ratings, AAA -> F,. e/ F# U2 h* Z: {4 y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
# ^$ m( l1 q, ^& V! l) o1 Imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  N9 p% [! Q8 O$ K; g$ K" G, ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 o/ v- \' T9 |  t- v0 g
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 z1 g: I% Z; r0 V; u+ w: y5 T
similar to bonds, CDs trading in the secondary market have different value at different times," f! v: \/ l0 I# h6 T3 W
normally the value is calculated by adding it's principle and interest. " l5 G, d" m# O
eg. the value of the mortgage+the interests to be recieved in the future. % q2 O5 L  ^; U- S+ H* M
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.6 ~8 Q+ `2 |+ }" G; I2 m4 G3 C

  r0 a8 ~/ g; L. E  C: vim not quite sure if the multiplier effect does really matter in this case.- Z# `0 }6 h* u9 v
in stock market, it's the demand and supply pushing the price up/downwards.1 O/ O" F# _1 W& O0 O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 K* J7 [* b$ ]% {7 F% ^
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 B3 @( f+ M( Q! R) P
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.
7 J- Z. W8 X; p6 W/ fbut the value of their assets did really drop significantly.
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7 f$ W$ Q: H+ i% h[ 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# i: g0 y5 K) m5 }) {
Refer to last example,# q3 b1 N0 G+ }' w1 M
that means bank A have no money because we borrow 10 dollars from bank A 1 V% s/ j! a  V6 g% [, \
Because bank A doesnt have enough cash on hand
0 l) b( R( B' _# Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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& W7 L' ^. p- {+ yA->B->C->D->E
  V" N2 }  x9 ?* ]so does it mean if E failed to pay D,
# b& ?! @- C  g" ]% Y) p+ Mall the B,C,D,E have to go bankrupt?
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% e+ A& k, ]( G! u1 Gthe multiplier just tell how much money created in a whole economy,
: u/ k( k# c5 s. Q  qin this case it doesnt really matter how much money is created, 5 r; p; ^3 c3 M* P7 b" d
it's the problem of the debt itself.0 M6 E: M. G. L$ c: G: n
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
) S2 O1 C2 Y' I5 m小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?+ C( {- I8 H0 w1 Q; ]+ {
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無可能淨係有人蝕錢無人賺架嘛...0 R6 |! C& U+ n# Z
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敬請各師兄解答+ F  {; }$ n% d& N3 H+ i1 v

7 a4 z  F% R( Y: DThanks

+ D% g/ ]% t2 B那些根本係 紙上財富  . z$ d# {2 P5 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
' y8 _1 n3 v+ F% \3 ]3 v. S. p6 w當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 g1 H9 j/ O0 p/ j0 ]* d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6 ^' q0 g, e) o! {( ?. I
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 j/ I- N0 ~6 z* c. Q( C4 P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 H  S5 N% N4 K% Y. m. `  [) o計番回報率就已經係50%,所以可以好好賺
) p$ @/ b" D$ _$ ?1 V6 {& i前提係銀行之間要互相信任先可以咁樣借法6 \% ~- g3 f8 {6 Q( W9 k3 X! b0 x3 P
同埋個市場既前境要係好先得) ^) ]) \( k: z) c+ H6 U
但當經濟一差,公司估值趺了,物價不升反趺
/ F) Q6 J* n3 j7 l  z% e. D例如剛才說10蚊的, 趺到得番9蚊,
% L$ X8 {4 d1 D' c0 x咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* U) K$ m  a( u. p% b9 @所以你就會覺得D錢好似蒸發哂咁
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1 z+ v7 p/ k5 n& y你都可以當標野咁諗, 個樣野多人可以狂升值,
  C6 v/ x2 O0 ]( W" [0 t2 W1 G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,
% E4 G; p' x; w. Q7 F: G4 p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , u8 j( P6 s+ d3 Y6 E; b$ 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5 n) H. Y% j8 C0 ^
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
1 ~1 @' T& N3 |3 o# B  t6 R$ L唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" x9 C  w3 p9 c" N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" p- n, ~1 `( ~* p( `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 f3 W( a- W8 J. H咁你話d錢蒸發左去邊? ...

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正係咁樣
9 D, Z% ]2 B, J  d) N0 K1 A: V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2 a, V( ?, a, F
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,
3 p7 H" v  Q8 x# q+ W! M連國家都係問人借, 不停發債券, 印鈔票
5 [- h5 c' R+ M$ @: k3 O一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% B  \  c8 D5 Y7 r/ o: n4 A
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: _% v( Y+ ?/ p$ T* z1 y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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( F9 d8 z+ x% a# ?其實係...
/ I' w7 x+ i) w3 Z. L" w+ H& d因為以前未生產, 先消費
  K3 C. |! D0 t" d而家就要多生產, 少消費