0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 F  {4 K0 j! u/ `1 |' z3 pWhy bank will sell 借據給第三者???7 X* V! S0 s3 r6 ?0 T
I was so confused.....

! j0 j! ?6 M( D0 J1 j) N6 n5 w$ y$ F. {1 x! I
講到尾都係賺錢9 W+ O/ C5 H# [! E5 N" r
so銀行可以不斷放款% E6 T0 ~4 v; b+ _" C4 q
美國的房貸問題散佈到全世界
* b% o( B+ F- U; Y1 j$ ]9 p* D
8 T4 ~: i- i2 R- S  |mortgage loan
( B- w/ F% b4 T4 ^  V9 Z% w>conduit2 ~/ I3 O. q5 o, G7 M0 K& [* e
>RMBS(Residential Mortgage Backed Securities)
8 B3 q+ }9 \) I' |>arranger
8 f& K# M" F: z: s# N2 W>CDO(Collateralized Debt Obligation)
% f( G9 \4 `4 \6 S最後去到投資者

Kev

i thought it is the reason of rate of return.2 y8 [) \& G: v6 i( L4 o4 Q
CDs could have different ratings, AAA -> F," w7 N* L& ?% F8 l
more risky ones would have higher premium (interest rate) as a compensation for an investment.
) N" U6 l4 T  O( rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  \9 `7 s' J# Q4 R
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 U/ v4 \1 _% X8 K8 K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 H: B& c/ k  |similar to bonds, CDs trading in the secondary market have different value at different times,: V2 T8 K$ r- D
normally the value is calculated by adding it's principle and interest. # c4 B: T6 ?% S9 b! B0 C
eg. the value of the mortgage+the interests to be recieved in the future.
  k. {3 U; a. J1 u% cbanks 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.
5 f9 ~9 t6 f: s
  H% t1 F  T- m  pim not quite sure if the multiplier effect does really matter in this case.- A6 I, y$ u- G6 D, k. L
in stock market, it's the demand and supply pushing the price up/downwards.
3 x/ ~) y8 N) @* y7 HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, g. T# k3 {- E% e5 v" u7 W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 C% l6 q; o+ f/ f% n, a
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. ' U. j  E3 h5 w" f' N- V
but the value of their assets did really drop significantly.$ n6 A) h$ Q  K0 D' B* b4 c
2 a( s, F4 n' P) 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.gif) [2 h5 N) Y+ ^5 ?
Refer to last example,
2 ^. e9 M* T9 G$ x+ h/ Wthat means bank A have no money because we borrow 10 dollars from bank A / z3 i1 X" ]! [" M* z& d3 H  v
Because bank A doesnt have enough cash on hand   [: ^0 X  ~5 p/ f! Z1 R$ K$ o. S
therefore bank A need to be bankrrupt ??? Am I right ?? ...

; F+ Z& k+ m( u: @4 {3 @7 P+ t7 I6 E5 a+ e& ?- b) z6 M- c

; `5 F( F% j; y# v; E! nA->B->C->D->E
' B' k: D" E8 R9 A6 ~$ ~4 sso does it mean if E failed to pay D,
: t* w+ }0 _6 U$ ~all the B,C,D,E have to go bankrupt?
& [/ w% h3 |% V  X% ?, \! c
, D6 U2 X8 x7 p& [
3 `: g3 I$ n* b# X; Kthe multiplier just tell how much money created in a whole economy, - r* Z: y$ c! k0 z' y: R2 J
in this case it doesnt really matter how much money is created, % n: Y6 s# W  j" u# j
it's the problem of the debt itself.
& \0 h& I+ _1 mthe 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
1 o3 ]; q- [. e( w1 G& M9 F小弟一直都唔明.... Y1 y! Z& z: l' Q& a" d( {  \- L
  k5 D. K! d# k% \$ q* }
全世界都蝕錢，咁邊個賺緊錢呢?
5 r) G4 `$ z6 a2 Y* d' L0 Z5 D3 ~% D4 `' P& K* @$ j9 s
無可能淨係有人蝕錢無人賺架嘛...
/ ~! H3 U9 C8 i2 O
- Q# s  w% B: o$ W/ U6 \, m: [敬請各師兄解答) U# A' [/ P* j; S  j+ i
& P+ {5 |" K% r; U% C
Thanks

, k8 f& W0 f& R$ |, [/ Y# L1 u那些根本係 紙上財富  ( O1 _3 ^' e3 B. r* J
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 graphic8 v2 l' x' e. p8 `  X: x# d
) Y5 f- v( `! Q! L% T
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5 I* C( e! ~% t: Q( U6 ~2 n. f
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ L+ G; t, \8 T0 \) J
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4 r# C  D# U- H, F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 ?! }6 S1 {5 }* R% ?, L扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% R% s7 X9 T$ D' m
計番回報率就已經係50%,所以可以好好賺
! l( |0 a8 b6 G/ d2 U7 H前提係銀行之間要互相信任先可以咁樣借法
2 L5 I2 Z# r; @7 E  f同埋個市場既前境要係好先得+ ]/ ?# {  q, B& {+ W
但當經濟一差,公司估值趺了,物價不升反趺; O2 M. O% i) D( j" O5 K! T; z
例如剛才說10蚊的, 趺到得番9蚊,
. s1 o6 l  _. d5 B. q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# j( ?" m/ p: Y: w2 X3 J7 Y. ^所以你就會覺得D錢好似蒸發哂咁
, l* Y: D% U. Y6 m: e% a) s* f) U! @1 w# J
你都可以當標野咁諗, 個樣野多人可以狂升值,
! i) Z0 G$ k2 `; G) N1 M* Q& a5 B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 u! I. ]& j( L4 u; v+ o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" D; x) Z+ L( ~( 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
+ X  ]9 Z1 _0 [4 }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.gif8 ?) b6 V1 q! `' J: w
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 J$ C% y+ i5 s/ Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + _6 c" I3 [- ~
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1 o" o5 w7 i( R
咁你話d錢蒸發左去邊? ...

* u3 I# y4 Q, o6 O9 W2 J
3 b- A& [/ K+ s& ~7 B, j
正係咁樣
! V3 T9 ], U# A( {5 I8 }4 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
- O# @& w& k% A: W* o$ C1 i. i  P分分鐘佢地唔使還錢
4 x9 b# M5 y5 c8 u$ H! Y. ~; r/ R0 I! u. {4 {: w5 H
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,
  {  o, D- @# d0 T* T( m7 c, ?9 r連國家都係問人借, 不停發債券, 印鈔票
; b& a$ l3 v. l7 Z# }一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 q5 N1 }9 @" M' ?- n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
' D+ D$ C& [% G* D咁而家"爆哂煲"算唔算先至係變番"正常"???

3 ]6 U1 N) j) z% k

% Q, ?/ |& ?1 P7 f7 p: C其實係...1 e- X7 m6 i' p9 z$ @8 e& J, Z* {" y  D
因為以前未生產, 先消費
1 O8 n% H# s: L5 d7 c3 m* I8 ^而家就要多生產, 少消費