0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ w) K; K5 I! j4 w1 l3 _
Why bank will sell 借據給第三者???
" p; \0 g8 K& o9 Q& u- c+ F9 z* vI was so confused.....

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講到尾都係賺錢
! b# _* M) N8 U3 t# l% Q8 \so銀行可以不斷放款4 F, f* Z, d. F# r, \' w3 W6 a
美國的房貸問題散佈到全世界
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7 Z2 y/ p/ Y- B$ a' n3 T) x; ^mortgage loan
! y6 @" b7 X. L  R3 h9 h: n' u$ g% L. v3 }>conduit6 m% ~5 _! U6 x' p! l- _- k- B& ^8 [
>RMBS(Residential Mortgage Backed Securities)
: f; H" [/ d* A% s5 ~; U- P>arranger
) M6 S" U, r5 [# u>CDO(Collateralized Debt Obligation)4 \4 Q0 G! v0 ?2 c- ?
最後去到投資者

Kev

i thought it is the reason of rate of return.. n( h7 A$ @0 P+ g; |' g
CDs could have different ratings, AAA -> F,) H* r6 r" c2 c" r: C1 P
more risky ones would have higher premium (interest rate) as a compensation for an investment.6 S1 }2 x7 V% B  {% t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& o1 c- @0 q  r1 i3 Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* B; k/ \3 x7 m7 l9 Q; u1 @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." u* X) {$ R5 d1 c; U" s
similar to bonds, CDs trading in the secondary market have different value at different times,6 `  W, E+ `- p# O9 F3 ~# K
normally the value is calculated by adding it's principle and interest.
/ ^% \8 a* K: |; G' z( ^eg. the value of the mortgage+the interests to be recieved in the future. $ w  H$ s: X* D( {
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.- b( i) a4 b8 {& d+ U& l
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im not quite sure if the multiplier effect does really matter in this case.
, V5 v4 T* b& I; pin stock market, it's the demand and supply pushing the price up/downwards.5 ~/ \1 ^: s8 J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 I+ J9 e8 q% f" W* V/ I
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) `8 r; M% L( @, J( ^& t) Z# w
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. / d3 r0 j# D" V( o& m' ?3 g3 l
but the value of their assets did really drop significantly.3 w! L. ]9 v8 w% f" W) I
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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  V1 C! s3 B  f. X! r
Refer to last example,
9 Q: k( Z5 w  `/ Ethat means bank A have no money because we borrow 10 dollars from bank A   [0 S9 ~+ j3 h- P+ c* i
Because bank A doesnt have enough cash on hand - h/ u1 m/ L# M
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# W! f% c) `" |7 c7 q3 q# YA->B->C->D->E
4 R) m7 ^5 T$ ~" @6 {) G" ^  O7 B: M+ jso does it mean if E failed to pay D, . \/ i  T. C# ^2 c, _+ W* n2 K9 d/ b
all 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,
3 ~. N1 _# e, J" r5 p, M8 a2 D: zin this case it doesnt really matter how much money is created,
' s/ D  m1 k; Wit's the problem of the debt itself.+ z9 v1 o4 j$ m0 I, D9 f
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.gif0 ^8 M6 O7 X9 a. J) {7 Q- G
小弟一直都唔明...' S* C! J( G2 |) t4 T. j

+ T/ L+ A& W9 f/ K9 p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...9 f2 y# o+ i7 Q' H; g5 {6 Y
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敬請各師兄解答
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. h, X% H2 H6 b3 Q7 r/ q0 \# nThanks

; P- q3 x9 z6 K! Q; O那些根本係 紙上財富  $ V5 L5 v' O5 o# T' R6 x' ?
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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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
2 M  ^2 y9 e0 v當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 ]" y+ x; c: 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
0 O7 p) p: v: j4 j' o4 e$ H個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 a% L( P1 U+ W. G( {
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" o- M7 f/ W$ O" g0 |7 u0 c4 V7 X# J計番回報率就已經係50%,所以可以好好賺7 s2 S: l) `) ?3 @( J
前提係銀行之間要互相信任先可以咁樣借法' S# [& f9 t  [7 o7 w9 t% K
同埋個市場既前境要係好先得
: R; X' x) Q* j- h% N  h但當經濟一差,公司估值趺了,物價不升反趺
6 J. ^) p  {; c例如剛才說10蚊的, 趺到得番9蚊, " d5 k/ k5 J+ P: ^* z! V
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 D9 V/ }9 S1 l$ V  _/ n, D所以你就會覺得D錢好似蒸發哂咁, `( }1 {4 D1 V8 h- }6 x( \7 S+ A

; x3 T$ ?% j( m6 s2 _& A7 s你都可以當標野咁諗, 個樣野多人可以狂升值, 1 q* b2 E% ^$ D, ?+ j1 K: [
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,
3 Y9 A4 ~# }4 D$ [8 U6 a+ L% O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 [% E0 R7 ^0 c* V9 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+ y: V: `4 k, N. B
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.gif3 a: k! N6 g# |: u9 Q/ ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + t+ L# U6 C: a! a2 w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ w: ]+ r% N- f/ }0 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
( z' u# S8 Y4 y2 K咁你話d錢蒸發左去邊? ...

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正係咁樣
0 J4 B  b4 E" A, Z5 v+ V8 s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
6 Y7 ^% N3 A3 G' u1 T7 Z5 ^  A分分鐘佢地唔使還錢
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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,
6 o+ p& c0 p- ?連國家都係問人借, 不停發債券, 印鈔票
! K% O* C1 D" t4 f9 @9 ]9 O  g一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% p8 |: D) z* e' ]' k, L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
5 X; h( @5 Y* i; ~) j2 T0 }' ]9 ?咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 ?2 E& a  F" b/ i& V  {
因為以前未生產, 先消費& n* O2 ]( T6 x3 X: _  W
而家就要多生產, 少消費