0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! |  m4 t5 h( T
Why bank will sell 借據給第三者???
. n' _( T+ [# v- p2 tI was so confused.....

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9 n1 V8 s  I5 H* c9 t1 F講到尾都係賺錢, f9 N. U( ?! k( ?; J
so銀行可以不斷放款+ V6 b% C6 }/ ^; ^
美國的房貸問題散佈到全世界
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5 R1 u$ r" |# d1 |4 d' Omortgage loan
6 s" d+ U9 M! G1 R" _( \>conduit
9 d0 P3 i5 @" C3 N$ s# h>RMBS(Residential Mortgage Backed Securities)
; ~% }' F) s% u* E& C9 [>arranger
" n, W. q: M7 ^9 J' `>CDO(Collateralized Debt Obligation)
: \9 H) `7 q) ?, ?: ]1 L6 i最後去到投資者

Kev

i thought it is the reason of rate of return.) a6 A( \. D+ C' ]$ k, }% L
CDs could have different ratings, AAA -> F,* ]4 c8 N7 U9 E- n$ t$ ?: Y' x
more risky ones would have higher premium (interest rate) as a compensation for an investment.$ ]  a1 q1 r# `: U) j3 J
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 Q4 l5 b; q+ B2 c
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ X" z0 k+ Y& y6 J- k: YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- e( D& G5 g# q( ~2 F' t
similar to bonds, CDs trading in the secondary market have different value at different times,
/ S( D# R/ ~% wnormally the value is calculated by adding it's principle and interest.
! _3 Z9 T. U5 t, j+ r+ ]eg. the value of the mortgage+the interests to be recieved in the future.
& w4 Z9 o  g! t6 {$ ^6 pbanks 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.
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$ Q- R( M# {  M! j, _. e9 U; v; cim not quite sure if the multiplier effect does really matter in this case.( V; c5 M+ B3 ?! T
in stock market, it's the demand and supply pushing the price up/downwards." D/ a$ [& I# @8 r* u9 O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 U- b6 W* W- J$ e7 N( `. n0 `8 uA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- u+ Q& C) V4 p" aThe 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. ) p4 Z! @' u$ z' y! ]7 [
but 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( X- ]0 ]& a; a  Y
Refer to last example,
6 |% V: O4 F" r) b0 Cthat means bank A have no money because we borrow 10 dollars from bank A $ ?3 P+ B& _: C
Because bank A doesnt have enough cash on hand / U, p! r4 l- v# p
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* x8 Y& f$ t$ c: YA->B->C->D->E
4 p4 L% h3 Q/ b: _0 {9 x4 Q: U5 Sso does it mean if E failed to pay D, ( z8 Y5 o) X! q) h  h
all the B,C,D,E have to go bankrupt?3 G% y* v4 X9 O1 u2 O5 Z: [/ n! {
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the multiplier just tell how much money created in a whole economy, & l* p. H6 T, ~1 c
in this case it doesnt really matter how much money is created,   h) [! N6 T( w. S( B
it's the problem of the debt itself., ]5 B& [( n# ?% K5 j7 [+ e* f4 O
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.gif6 ^6 X8 m1 D$ D" w$ K- R
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?" c* d" @' C- O8 c

7 D" P; P$ L$ `* \無可能淨係有人蝕錢無人賺架嘛..., u' M" W5 o! X- V
3 @. `; |& B& x7 d8 \
敬請各師兄解答, x6 j6 N; N: G8 _1 d
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Thanks

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那些根本係 紙上財富  
, W0 ?, i2 _2 z4 f  E' S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
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/ i; {  u  [: o% p' }" i  Shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產9 J, |; {3 i; k  T, g3 h/ e
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 ~" U5 @2 o7 F2 ~. g' t2 R# Z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
) ^* A; K4 n6 E# n$ Y; |& ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 h1 a$ g  P( x, G+ P& e* O9 }8 j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 ]1 V( a5 U3 D! f5 V& d' T  _- D計番回報率就已經係50%,所以可以好好賺
( R5 H5 r% ?# r前提係銀行之間要互相信任先可以咁樣借法# A" e/ g/ V: S6 [7 d  W( U) t9 ?& ^
同埋個市場既前境要係好先得# l8 F, _# c( A
但當經濟一差,公司估值趺了,物價不升反趺6 n( D' }  c/ [+ N  C. V6 i  K
例如剛才說10蚊的, 趺到得番9蚊, ) o: g" N7 N: b1 N% v: k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 y# r5 W( ?' E2 a5 J所以你就會覺得D錢好似蒸發哂咁
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% c# j5 T) S1 D你都可以當標野咁諗, 個樣野多人可以狂升值,
' F0 z  g* p8 Q: w2 A, s) h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, + X2 P) q/ L& @8 V, W: a: ~8 y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . W* ?( N6 d6 F* _
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
5 N5 k* z# U  V3 G6 l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
% ~" t( l- y- B$ x' n& s唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ k9 {' y& L2 @+ w( C9 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 I! Y4 L1 w) U; r
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 v0 c1 P' r0 }, s咁你話d錢蒸發左去邊? ...

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) C% I$ s3 k' d- n+ L% ~7 D正係咁樣
. g4 c: `- f; [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
5 Z' V  W$ V2 V' j; a- g% s9 g, r分分鐘佢地唔使還錢
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2 h7 C8 n# D- B( [$ M3 R) U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,1 ?; @! u5 R! \# s! v8 k7 e
連國家都係問人借, 不停發債券, 印鈔票5 e9 F' `: j- M7 J" F- Q8 u1 C8 {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' j( B- f' k" j7 q0 `
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
/ w  k' ?, e+ Z+ H: [1 k# k咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 e/ K% L* I( g6 \$ F其實係...
0 D. K) C/ H7 U因為以前未生產, 先消費
- ?) O9 A/ E& S9 Y而家就要多生產, 少消費