0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 L6 T9 R! C$ d1 R! }+ O, x8 y$ W
Why bank will sell 借據給第三者???
& I/ W' ~- c8 cI was so confused.....

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講到尾都係賺錢
& _' G5 y* H/ Q* b" Q4 y1 Fso銀行可以不斷放款6 ?, G6 C" f8 f& ]7 s' P1 y
美國的房貸問題散佈到全世界
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mortgage loan + O9 J7 h3 \" z' S* u
>conduit2 T7 U; L! s. e8 c1 @0 l
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)4 M: Z) V& F+ l* j/ v3 m
最後去到投資者

Kev

i thought it is the reason of rate of return.
& r9 @) L5 s& zCDs could have different ratings, AAA -> F,
7 n' e0 l# r6 i$ G* \6 Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& T; {0 L% s+ D/ @main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 u, W* F: p- T( d- m4 y- ^; y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- z: e% C2 W/ A; A' |2 D0 [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# L- V$ I* e. s# \+ P+ Y; zsimilar to bonds, CDs trading in the secondary market have different value at different times,7 v( _8 M5 p/ ]# x+ A4 T7 D
normally the value is calculated by adding it's principle and interest. 8 l7 S) c! [2 ?" m! x8 n, L
eg. the value of the mortgage+the interests to be recieved in the future.
, a8 r+ ?- u' P  S$ 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.4 V1 l9 _2 _: G$ _7 C

0 u/ O, z9 H* a8 c* {im not quite sure if the multiplier effect does really matter in this case.
6 F& s/ a7 Q; b* Y& {, P' fin stock market, it's the demand and supply pushing the price up/downwards.
/ v/ N6 z5 I! e/ U0 a( eFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 W$ U+ k& k; ^5 R9 O4 [+ h9 L0 d; j0 CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 u" E5 {0 G8 d2 Q6 |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. # p/ T& ~8 z) g+ k3 D# N, z
but the value of their assets did really drop significantly.$ u( h4 T) ~; v$ Q
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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.gif5 i6 W& W1 q  e7 n
Refer to last example,
, q# A7 Y' Z+ {7 S  p7 c& @" s; Ethat means bank A have no money because we borrow 10 dollars from bank A 4 L3 H! G" v8 K( y, @
Because bank A doesnt have enough cash on hand % m( r8 x/ o: x
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
4 d5 n2 F/ M/ {6 x' Oso does it mean if E failed to pay D, 7 s- S/ M& h3 P, w2 m0 j
all the B,C,D,E have to go bankrupt?# f  @; h1 a1 N8 T3 L3 K

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  U: b0 T" Z: V! {% Lthe multiplier just tell how much money created in a whole economy,
% r7 Y  E$ H5 l$ O4 o  Xin this case it doesnt really matter how much money is created, 0 Y' p; k) Y" x+ a
it's the problem of the debt itself.
( e% D5 `- K9 `/ z9 j% lthe 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. q/ s+ q( X6 i# @; G
小弟一直都唔明...1 a8 q9 M. v( v: S- A4 \
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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...6 O- j8 c& R- w4 A  }" D0 @# h

  s; Q" T4 T) X! W8 @  F0 N( D敬請各師兄解答1 h4 Z( [/ l$ q! i: @( t3 L
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Thanks

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那些根本係 紙上財富  . S! q- ]3 V  C
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 graphic3 @! w4 ~) ?3 H1 ]6 }3 X) I

+ ?/ Z0 [( B' _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
. `' W" F, Z$ J3 P當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 D! [4 c% |% b# P: ?& v% U
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
; a2 Y  o; ]3 O5 H; z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ Z: d2 N; F3 r  s7 I" Q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," P5 |$ x+ _! L' x
計番回報率就已經係50%,所以可以好好賺& D9 _  E: u! a4 m5 N
前提係銀行之間要互相信任先可以咁樣借法
/ U7 X8 y4 x2 o. l( N6 f- R同埋個市場既前境要係好先得
. ~. r7 n6 R" U' @* U+ M) L; U, N但當經濟一差,公司估值趺了,物價不升反趺. g$ b( X% _9 a5 z) G, @
例如剛才說10蚊的, 趺到得番9蚊,
( V7 m  O: _3 z6 q3 \$ c' N咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 t8 H" U& E1 s% J* B( i4 T7 P  k
所以你就會覺得D錢好似蒸發哂咁1 d+ z8 B0 r! G% i: C3 P
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你都可以當標野咁諗, 個樣野多人可以狂升值,   L3 \% g5 O( d% u
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, / U; @" |) f6 E+ f3 M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 ?7 ?$ _/ ^4 G  F1 r1 j3 p6 l: H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
& o1 O, S( ?; y- [- a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
$ M$ e! H" Z3 `4 ~& b9 R唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ W# V: |& r, _$ L& r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 }; }* S7 S+ l6 `% C( ~
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
: O6 x/ c7 R; H' u3 Q咁你話d錢蒸發左去邊? ...

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正係咁樣
- H- Z, m- O. O4 z' t/ t( L) i7 c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
! C( [- p5 z, a- L分分鐘佢地唔使還錢9 g9 ]: g7 D/ K* Y

: B$ A3 D, A# m$ M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,' ^& E2 m9 b" P4 K! Y: C* n
連國家都係問人借, 不停發債券, 印鈔票
4 ]+ m  R1 ?8 ]0 p" @一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  ?5 d( z2 m0 y2 s1 W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
% k7 D9 z+ v7 V! F) d: ?. r, E, s: b咁而家"爆哂煲"算唔算先至係變番"正常"???

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& a% ~2 _; _( @2 ?: G! F其實係...: ]5 c8 H; g5 Q1 K+ j6 X) M: _
因為以前未生產, 先消費
7 o( v5 G8 D# L% o  M' ~* f7 j而家就要多生產, 少消費