0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! |+ B( h+ E6 }' z! Q, v/ i- {1 ]) w
Why bank will sell 借據給第三者???
6 p) [' K% Z1 E& E* ~7 @/ A' B; Y$ TI was so confused.....

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; c/ E4 ]4 N; G7 i0 N: Y講到尾都係賺錢
7 q0 r; G. V6 d2 i/ U  zso銀行可以不斷放款
9 \) W) r: ?# B1 m! \7 K9 p; l美國的房貸問題散佈到全世界
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6 j9 [. ^  V8 E: umortgage loan # g* r8 H! _& A3 A
>conduit
5 x5 K) ^; t0 ^: B3 U. d7 x' T! j>RMBS(Residential Mortgage Backed Securities)
, M/ P2 Z' m. }9 f, x>arranger: K/ |5 {0 W; }1 ]) X. h
>CDO(Collateralized Debt Obligation)& J2 R$ ]# \  Q8 Y/ l% M7 y1 E
最後去到投資者

Kev

i thought it is the reason of rate of return.
: v2 x# g; V* y  J# E2 gCDs could have different ratings, AAA -> F,
. d0 S. e0 J$ y8 T; Nmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 K6 r2 ?: [2 k5 h% r& A9 M( b8 V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; j, `( Z" Q6 x6 `in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; J: k0 \& I7 k, k  R9 W2 p2 h8 x; f
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& n/ [4 a% \8 ^0 Q3 Z- Y2 Xsimilar to bonds, CDs trading in the secondary market have different value at different times,
6 f- e7 N8 Q2 R: Pnormally the value is calculated by adding it's principle and interest.
: {: G* Z5 b6 v9 [; r9 weg. the value of the mortgage+the interests to be recieved in the future.   j4 I) k, u' V7 `1 G
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 k9 Q9 Z8 C- U
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im not quite sure if the multiplier effect does really matter in this case.
' n3 d6 r9 K' nin stock market, it's the demand and supply pushing the price up/downwards.
; d) ?( A  C9 ?  H/ p. T* J) OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; F0 z8 K) H' _, @& f9 M' x5 S; b1 W6 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 {: d% \2 A) Z( I7 j$ T# zThe 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.
, D2 B" ^- x3 d9 V7 b# |but the value of their assets did really drop significantly.* u$ J0 w2 p$ G5 a, ^- R- o' ]# }

; P  P: g8 e# B; g[ 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.gif2 T. W2 Y: j. F) u
Refer to last example,' t5 Z4 m- Y& T: \# Y8 D$ r
that means bank A have no money because we borrow 10 dollars from bank A 1 l& u! ^! i+ I$ L- M9 e# n3 E
Because bank A doesnt have enough cash on hand
( }9 V5 X6 f/ r, J, p" O! Mtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 E" b4 n' \+ @" d$ y4 I2 ^- v4 gA->B->C->D->E/ u: G- v/ s/ O! \
so does it mean if E failed to pay D, ! |& t7 \1 d1 g! A* s3 x" M. Y
all the B,C,D,E have to go bankrupt?4 r2 \6 E6 A' s3 I1 g) x  O8 M
' J0 O4 E" ^) F! i  e) x

, Z$ u! }- ^& t: o4 z3 ythe multiplier just tell how much money created in a whole economy,
7 p, s' d* H- H8 q' l9 ^4 xin this case it doesnt really matter how much money is created,
+ T& |8 i, ?4 P! @4 yit's the problem of the debt itself.
8 w: E* c( V$ b2 q1 othe 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 J$ X2 i# f% }3 s! U6 G小弟一直都唔明...- g4 g8 U  B: {3 S) L* X/ }3 L0 c

% \. @, E5 R! |( y全世界都蝕錢，咁邊個賺緊錢呢?
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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
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Thanks

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那些根本係 紙上財富  5 S9 I. i: f- z6 e2 ~0 ]
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) {" P' p6 U5 ^. B, c) l
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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* U( r3 Y, ~) i3 y: \' C
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, H9 `# R7 ?0 M' V4 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
/ k  w- [: ~! b- j: r2 V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* r: V% S) Q* d/ G! [) P8 x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! M% ~! g7 a& Y+ l計番回報率就已經係50%,所以可以好好賺
9 g  i% ]! L# k/ e" _) [8 g前提係銀行之間要互相信任先可以咁樣借法& n5 M) d% \5 j
同埋個市場既前境要係好先得. F* p7 [  Z2 q  E7 a  I- d
但當經濟一差,公司估值趺了,物價不升反趺) I; x) k2 e7 N' Y6 s
例如剛才說10蚊的, 趺到得番9蚊,
% L/ U: h# }% ?: Q8 ~9 z8 I咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; ]9 Z  @0 q9 y0 t; v7 S
所以你就會覺得D錢好似蒸發哂咁6 h: b9 [/ f1 f. f
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你都可以當標野咁諗, 個樣野多人可以狂升值,
1 C! c! \( k# D* ^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, 6 M+ p5 T$ U3 Y; k, A& }, C
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : J" Z& B( I' [+ t! a( 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
' z  y) y9 k8 r( v: n' q% @% [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- T0 D( D. W5 F+ ]5 ^. r+ m# r
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( t( k) y1 ~. K& Q! y- M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 e+ p* i% S# Z% Z; q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
! m# k" H0 j6 ~咁你話d錢蒸發左去邊? ...

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正係咁樣% ?! F0 H1 F$ S& i( l
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
+ p& V, \# S0 G, j+ D. o# a分分鐘佢地唔使還錢: X$ [* ?6 z4 R! Z

7 |, Q$ x: o: Q/ s/ g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,
) O2 z3 N  w; w3 c4 W* h& G連國家都係問人借, 不停發債券, 印鈔票( o3 y- {" {2 R. \6 `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ ~% N! C2 e  l3 A- \5 T
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.gif5 c: I% m% ~* M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 w* }# I) y/ Z" h9 |. h其實係...
6 C1 _( L* `% S( b5 y. D因為以前未生產, 先消費
4 W( u1 C7 X% P! F. O- {) P( U而家就要多生產, 少消費