0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! |3 }( b: _/ w9 {8 i' H) t* U
Why bank will sell 借據給第三者???
& ^& Z' o* E0 g. r: b5 s" `I was so confused.....

8 ]+ K3 P  S/ E$ z& O) f0 G- u3 S, Z4 Z$ X. U: v( B1 T
講到尾都係賺錢2 G4 P% ^6 L+ V0 r; O+ U; P
so銀行可以不斷放款! y0 q+ o2 ?* j' B# r' ?1 Y
美國的房貸問題散佈到全世界
% K0 H8 e' B6 y: Q% Q6 `: {
& y1 w9 r% ?, v6 Y; \( x* C0 Fmortgage loan ; b" ?- p4 L9 O/ Q% {/ b6 V# W
>conduit
! s6 c9 G$ n7 z>RMBS(Residential Mortgage Backed Securities)9 Z' ?, H0 s: x3 w% r% A
>arranger
! e% s( f& X- a) z6 i>CDO(Collateralized Debt Obligation)* c  }6 P& e' \! e8 t
最後去到投資者

Kev

i thought it is the reason of rate of return.8 M- p* N/ z/ T/ p( x
CDs could have different ratings, AAA -> F,, N' l4 Y* r7 z5 X5 ~% t, o
more risky ones would have higher premium (interest rate) as a compensation for an investment.9 b2 d" N3 m9 G/ ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ ^4 G& t; q: L
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. h9 ~  B/ W" E4 o( k! J# a8 |& F
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." H2 M0 j# y, \7 I+ v: J' m
similar to bonds, CDs trading in the secondary market have different value at different times,
# D& M) j/ b& Wnormally the value is calculated by adding it's principle and interest.
( t. y9 E% w3 I  u( {# k# |0 l% yeg. the value of the mortgage+the interests to be recieved in the future.
# v! \& @% J) b& }" c0 ?1 ibanks 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 `+ |3 @, l. F
  e8 a0 E; I, _7 ]: }( H8 l" Bim not quite sure if the multiplier effect does really matter in this case.6 S8 j9 ]3 M. S5 s- B
in stock market, it's the demand and supply pushing the price up/downwards.  Q& g0 I+ z$ J+ k; O& j$ ]+ e
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& D7 U- r3 l+ [% o8 m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! ~  b% l# y4 w; q8 I, n- o8 c3 ~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. : ^9 E+ O" w+ }! C
but the value of their assets did really drop significantly.
( u: ]4 m3 l" }4 h9 O. J2 h& l7 Y
[ 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.gif9 I7 p8 S# [- f' N# q8 P
Refer to last example,
6 `7 T4 Y* V  E8 {8 H+ j5 athat means bank A have no money because we borrow 10 dollars from bank A
, a" n8 I( ]; C$ i! x1 E" XBecause bank A doesnt have enough cash on hand 4 _# u* C8 j( p6 g! f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

3 @% `" v% }9 z9 z. Z1 T$ m% c: ]# O  L4 e% L( V+ S

; u) [1 P8 j1 b: P0 rA->B->C->D->E
- E7 E0 S' \- I) [! Bso does it mean if E failed to pay D, 7 J1 D' X( l1 G7 X, |) ^  \4 T
all the B,C,D,E have to go bankrupt?
: h; ]: ^/ g5 X2 @) u: d% e& s$ `* a9 y) l

" M6 Q1 `3 H. ^, r- p8 bthe multiplier just tell how much money created in a whole economy,
* F% e4 L! f0 T3 ^in this case it doesnt really matter how much money is created,
8 o) ^' \1 B8 _it's the problem of the debt itself.) e% p7 t$ u! r; Y1 m( Q
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+ |/ T& ]/ k( U" h& ^
小弟一直都唔明...
) k0 i! w+ Q" G1 S# G! k7 _- _4 i; x1 {, \
全世界都蝕錢，咁邊個賺緊錢呢?
. r0 X/ k% C) x7 X  B. M/ F# h9 w# \
無可能淨係有人蝕錢無人賺架嘛...
3 }. A7 _0 d" w0 P: ?4 Y- Z% x5 Q) S! a, s0 Z* {5 r0 @* u( ]  I
敬請各師兄解答
- a7 [* \2 {  Z7 s4 P9 d
# _- ~7 P0 S. E4 B+ LThanks

4 f1 B6 O/ J: N/ x* ]1 G
那些根本係 紙上財富  7 ]9 p3 O) ~/ a
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
5 K8 B* S% V( ^2 @+ H1 S4 ?* s) U6 \' p2 k
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
* m+ E5 w! H" C4 ]當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  z8 i2 w1 c. `( \
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. L  q7 |8 b, e) X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 i& M! Q3 q+ P* x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( k" r7 I/ Y  [; j" g計番回報率就已經係50%,所以可以好好賺
: \0 \% ^1 B6 G: K前提係銀行之間要互相信任先可以咁樣借法; _# g  U5 u1 G6 ?* c* S
同埋個市場既前境要係好先得
# ~$ L! g& Z4 X4 H. }但當經濟一差,公司估值趺了,物價不升反趺
1 w( s6 b/ ^! R! g' j4 ?* S  S例如剛才說10蚊的, 趺到得番9蚊,
) Z: y6 E% O2 H# e3 z* j咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% D. I; d. p0 n6 g
所以你就會覺得D錢好似蒸發哂咁2 k8 t0 U5 X* U2 I1 |
* g/ e3 k5 M% t8 `! r7 l, U- Z8 b
你都可以當標野咁諗, 個樣野多人可以狂升值, % v8 |) V- }* ^& V  A) `" Z% Y
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, 2 w% J# I. a1 n1 N/ u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 o/ Q3 T4 y+ x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 A6 t* ~" Z* J3 @' e
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- C4 t; ]4 a" l5 y" F. B
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 @1 ^+ b* V; V0 ]" K淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ z5 S# N& j, H/ J* ~: O5 v% W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# N, w- r+ o0 d5 [1 J
咁你話d錢蒸發左去邊? ...

+ s" E, K' {  `2 A( ]7 u
- ?. k$ m" ]6 d3 Q: ?0 d7 C% A
正係咁樣
$ D8 Q4 O) w6 M8 B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
  |4 F- q' T+ F, q6 W分分鐘佢地唔使還錢* \. w3 o# J1 }) |
$ d2 v! \$ P6 ~4 E
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,) m4 }. z' n: ~. j
連國家都係問人借, 不停發債券, 印鈔票% A. h* D. k0 a. [- Z+ u/ g; Q  f
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! L/ d  g% ~$ N' Y0 {% T. ]- y
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# A4 s; |; R, m' V- Z% v咁而家"爆哂煲"算唔算先至係變番"正常"???

& M) K. {* Y  t, H+ C# L
6 g6 E$ O% k9 X' I. O7 m
其實係...
" H# @+ r* n4 \) v因為以前未生產, 先消費+ W8 @' X  v1 p* Y- R+ W2 p  i
而家就要多生產, 少消費