0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. l' `7 q6 {8 k& b; u: y
Why bank will sell 借據給第三者???
/ _; ?3 \3 x% vI was so confused.....

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4 P# ?* ?# @. Z; R, v8 k6 W! t5 a講到尾都係賺錢
1 t/ z0 H+ T$ K9 W( b/ kso銀行可以不斷放款; K3 }' E! q) Y. ~" G5 ^
美國的房貸問題散佈到全世界$ G6 m% y% O" A* e  D

+ Y  [7 h% b+ s4 K: P! ~1 ^mortgage loan
, j. U* n( e6 \2 H>conduit
6 p3 u- K( |) c5 q& m8 t>RMBS(Residential Mortgage Backed Securities)
$ e4 S( o1 G* R1 e: `# r# ]>arranger
8 l3 A) M; ~; i: o0 S% @, p>CDO(Collateralized Debt Obligation)/ }; l) G; x; P8 F! S7 k- g  W; A- N
最後去到投資者

Kev

i thought it is the reason of rate of return.
3 g: ^( a( x: ^1 J0 y6 k  GCDs could have different ratings, AAA -> F,% d7 s' Q9 W$ J5 x* O! \3 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.9 ]( m; @* _  V, z5 {( Y, W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  ]  g# a; u  g
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. `# u5 e/ I8 I1 W( c" L. Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! b. X* D9 i  A7 F0 m: }0 l6 Esimilar to bonds, CDs trading in the secondary market have different value at different times,4 j  f; y( D; c- k2 k' v
normally the value is calculated by adding it's principle and interest.
* o+ I/ E$ H$ S0 w, Yeg. the value of the mortgage+the interests to be recieved in the future. ; o4 f# @! t; C/ p9 f5 r8 @5 [# 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.( g: e- p8 W5 X4 {4 G) t8 J  C: D. ~
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im not quite sure if the multiplier effect does really matter in this case.
, |( \2 S) e% Y/ Q$ a; ^% T( Hin stock market, it's the demand and supply pushing the price up/downwards.- N. v, S" g' _6 m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 h4 _" L. L# }& f
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 D6 i% N* \4 ~0 m
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.
8 `# P. J+ o7 J( _: v# x' Bbut 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
& a1 o$ K' D! d: ^  N: TRefer to last example,
, a/ f) X% i. [* z+ q. {+ L4 K& r. mthat means bank A have no money because we borrow 10 dollars from bank A
  r1 X' c6 R# C8 H9 ?3 I$ [Because bank A doesnt have enough cash on hand # x3 a7 o1 ?9 Y. u/ j7 j' x3 P
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 T9 D, M+ H8 v: i# a. `( IA->B->C->D->E* O+ z4 D7 A# Q$ M. N+ p3 q  \3 C
so does it mean if E failed to pay D,
& q" o/ [% e9 X$ ]/ |+ call the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, * E" ]- Z  ~6 V1 Q0 d
in this case it doesnt really matter how much money is created,
( b: ?$ M3 Z  v! F2 d* D$ F' T3 j4 ^it's the problem of the debt itself.
: z/ I( U% p* M1 `" Q1 _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.gif8 S$ a6 K0 Q  B7 s3 W
小弟一直都唔明...
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; K' D3 W! [  G# H全世界都蝕錢，咁邊個賺緊錢呢?& w. I: S/ v) i6 L

2 ~1 A) N8 y- q無可能淨係有人蝕錢無人賺架嘛...4 C/ @0 D" y. N" k+ D2 a8 W
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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  
4 i1 f# z- ?( x# [2 S3 ^1 H& F- ^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 graphic4 N1 e, `( B. z% q  f8 c

3 H; t8 a5 }2 k7 E; O7 Ohttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 N! p7 S4 B! D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 |" ~  J' ~1 H! \' S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
5 g7 T3 G1 C! Q+ q* _3 |0 u; m7 e' F個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 ^' D8 E0 I* e( Q  i9 n; |扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 L; ]% A  k! i5 S5 c/ n
計番回報率就已經係50%,所以可以好好賺8 k) v" P# D9 r+ r# ]0 g
前提係銀行之間要互相信任先可以咁樣借法; q" Y  F, r6 G* Q- j/ f! s
同埋個市場既前境要係好先得
) A! z' }3 |: g/ T- [2 ]- q但當經濟一差,公司估值趺了,物價不升反趺
- D# F1 Y' E4 O例如剛才說10蚊的, 趺到得番9蚊, % l8 K2 g$ k, ]! l) X- C
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: X4 d: V2 ]2 u! A所以你就會覺得D錢好似蒸發哂咁$ F  m; {( X) y) u7 Y. E3 W
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你都可以當標野咁諗, 個樣野多人可以狂升值, # S! z* L1 }9 F5 T
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,   \; |1 c8 o, ?, e' p$ N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . o# c+ K( L0 ~' g
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 x7 U4 Y2 W) ^, x" ]8 x  O/ R
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
) [& H! M* Y4 W: O" k1 y' C! G$ S唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 R8 G. C+ N. I! ]1 z8 M" G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% m. L, z# p0 E# _# _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; s( ~  e9 c9 t7 }  V
咁你話d錢蒸發左去邊? ...

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" M" M6 M0 T- y/ [正係咁樣
: J; q; R$ S) S) O- n- e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
) x, h) e5 k- H5 j6 y分分鐘佢地唔使還錢- i, e, f0 d7 Y
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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,8 l0 Q' F8 i) X! |0 K
連國家都係問人借, 不停發債券, 印鈔票0 I% f, Q5 K! y$ v) o4 J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" A5 v- L4 G/ m0 {* q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% w4 S; h  m, }% I9 ]
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...; h4 Q# j9 Q# @- x6 s1 ^
因為以前未生產, 先消費
" s3 H+ R: u0 _( A  D5 q% ~而家就要多生產, 少消費