0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& V/ x) k. `  G7 E
Why bank will sell 借據給第三者???
8 j$ Z( n) k9 EI was so confused.....

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講到尾都係賺錢0 E2 a' m; c- v: k4 P1 `7 v
so銀行可以不斷放款
0 _, \" n0 l# ]4 V* u3 h0 m" s$ t9 g7 y- q美國的房貸問題散佈到全世界
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. [. f/ N: \* q- w# h& |4 Umortgage loan
! y; p$ P7 _4 e: ~  w>conduit
  a1 C! t) w, a% C! q* ~! H>RMBS(Residential Mortgage Backed Securities)
' o4 a' g' B/ X>arranger% p4 [: o: G% ~9 @4 ~/ r' h# w
>CDO(Collateralized Debt Obligation)
& I  h9 h9 A6 L+ W5 _5 P% U7 j最後去到投資者

Kev

i thought it is the reason of rate of return.1 a3 A; F- Z, u* {
CDs could have different ratings, AAA -> F,
. W) u2 d7 `2 E3 V9 r2 ]2 K' z" _more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 H" C6 b* o: e: Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 |/ R* {0 y/ N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) s; c( X% K- m; b6 k3 ]* p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. ~6 ~4 P+ A7 T  ]. Msimilar to bonds, CDs trading in the secondary market have different value at different times,* U( J7 A8 p! E# I0 n0 X' `+ F) k
normally the value is calculated by adding it's principle and interest. ) T' E7 Y2 o( z& l- L
eg. the value of the mortgage+the interests to be recieved in the future. ; _) S2 H# ?# P. `( k- z
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.! h+ ~0 c& e8 o! x4 C. k5 i
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im not quite sure if the multiplier effect does really matter in this case.
8 l) r# m& n) T( y" @! k) g: Tin stock market, it's the demand and supply pushing the price up/downwards.
, P  @0 K; G7 Y3 b6 a4 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% Z& x9 O( k: z7 DA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ I& s$ S7 J1 S: S! |
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. 3 X6 u- g# R, F; V: u: T, r& r
but the value of their assets did really drop significantly.8 A) U0 }/ @" R0 Q$ U) l% W9 D
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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; u* U& G5 u; ~
Refer to last example,; c+ m/ E8 S* Y9 w6 P9 S3 U# s
that means bank A have no money because we borrow 10 dollars from bank A 2 z. ~& }+ X- Z. K) D& I
Because bank A doesnt have enough cash on hand
8 C( Q* Q0 O5 X8 r& ~6 dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E/ {. f7 ]7 M/ U* d, t
so does it mean if E failed to pay D,
% g9 t( b2 L( K3 Fall 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,
* D( i# i1 @1 U# e* qin this case it doesnt really matter how much money is created,
8 A+ w: D/ ]) Yit's the problem of the debt itself.
5 S! h( X1 j6 Kthe 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
5 b, C( O) u5 x' u9 t) D  [6 e8 z' G& ?小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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6 W- _& O1 s; }0 B無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks

0 ^8 F' \8 ^; \' k3 j+ n# C那些根本係 紙上財富  , J* t& v5 C) v) Q$ U
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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5 ]( y. s, S5 S1 W4 d* L+ e) phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
' O) B0 U# C# a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. @2 a5 K% A' w$ F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7 [- h) V1 V3 X6 P, @9 i
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦3 p5 J; {2 H8 q0 q& v
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 J" ?, b3 ~% M( K
計番回報率就已經係50%,所以可以好好賺/ N- r0 q8 [! l& k2 Q
前提係銀行之間要互相信任先可以咁樣借法
) C8 n# J/ X$ k& L3 g+ L同埋個市場既前境要係好先得, m7 Y. H8 f7 `$ s; |1 @
但當經濟一差,公司估值趺了,物價不升反趺
! o( k, ^" ~, T# o5 Y" E9 x- S+ B例如剛才說10蚊的, 趺到得番9蚊,
# C* W. U/ Y% p/ z, z5 C7 A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# F- A+ B4 g2 E
所以你就會覺得D錢好似蒸發哂咁
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  _- a' i- h8 j: [2 j( x  N3 Q你都可以當標野咁諗, 個樣野多人可以狂升值, " O7 C, M5 q1 e0 V: 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,
; q$ T/ v: c8 d% t- ]8 n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) |0 V. o' p0 ?6 @: D/ ]
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) y: A! F" q3 I6 w$ K3 K7 m
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# n% x0 ^# D, {& z. k
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  Z* T9 S5 b! l3 t/ {$ L1 w# ~3 Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 G! h& y( ?+ b( w8 I& f  O
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# f5 C+ m* D2 q4 X- y
咁你話d錢蒸發左去邊? ...

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正係咁樣
; X: t0 ^6 d, Y7 A  Q  Y4 p, Q$ v  ^. 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( u4 D* f, @0 X, D* F/ n0 z
分分鐘佢地唔使還錢; J8 z9 ^0 M( N- N

5 X5 F, d4 ]  b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,- h/ R  ]1 p3 _9 _( ?/ ?
連國家都係問人借, 不停發債券, 印鈔票
2 p. L2 ~9 n  W+ |. K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 `6 \' }: X* W& 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; ^2 I" D2 x+ q2 g* v1 Q1 ?: k% K% b
咁而家"爆哂煲"算唔算先至係變番"正常"???

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  Y0 [; D9 x: e0 F, u其實係...
5 @) u. b5 l0 x" I# z因為以前未生產, 先消費6 f, P4 _( X% c! H6 B
而家就要多生產, 少消費