0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. t3 p1 B3 i0 L6 u4 Y6 D
Why bank will sell 借據給第三者???  F. @' y: _/ c
I was so confused.....

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講到尾都係賺錢, a" Q! E- q$ h+ J) ]' c. J
so銀行可以不斷放款- k* N+ U1 i. E1 w- u
美國的房貸問題散佈到全世界1 g) V7 K8 `2 L1 U4 g. Y7 o1 f

8 p* |0 U" p1 o8 y* R/ Fmortgage loan 8 j4 S6 g' N6 q. n) ^  v1 k( l
>conduit4 g- U2 k, j9 o# l8 d% }: ~' @, Q8 E
>RMBS(Residential Mortgage Backed Securities)0 j  q; N# A  c5 P6 f. B9 I
>arranger1 \' s, d2 o2 s7 v% [
>CDO(Collateralized Debt Obligation)0 z6 \3 }7 B$ O
最後去到投資者

Kev

i thought it is the reason of rate of return.& j' d# @" R5 z+ g$ X/ s
CDs could have different ratings, AAA -> F,
. i  f: X" p; C5 r& Q# i4 _more risky ones would have higher premium (interest rate) as a compensation for an investment.' R& V. s/ d' Q$ t' y$ X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ p) C& x& x/ h4 k, p/ Lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- F! {7 Q, X  ?% K. q. IAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- c) e+ G* k1 b, s6 D3 psimilar to bonds, CDs trading in the secondary market have different value at different times,$ l; a5 _5 r' t/ ~+ r
normally the value is calculated by adding it's principle and interest.
- b! L: C  G" T5 ~/ Teg. the value of the mortgage+the interests to be recieved in the future. " t1 ]+ A( O$ z- c& ]* U3 H
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.- w* t/ f" B& ^5 t8 ?9 }

* {& Y! W: k+ A8 [% ^% ]: Kim not quite sure if the multiplier effect does really matter in this case.+ T0 a2 ]5 @3 D% _) A+ L
in stock market, it's the demand and supply pushing the price up/downwards.* S9 J' O) r2 \
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  N7 n" ]+ f0 W- k: d* a# {# UA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 ^9 d4 G. u* I0 h: p& B. 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. : p' j/ K; E7 ?' B
but the value of their assets did really drop significantly.% s' c3 I9 O- O0 O& x8 t+ x

: f* C! c* v' Q: a3 s# P[ 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.gif9 y) |5 \. q% n) t" i8 v
Refer to last example,  v$ z2 C* G, U) w
that means bank A have no money because we borrow 10 dollars from bank A
5 R9 h6 J2 b$ I3 P( q  [) |" HBecause bank A doesnt have enough cash on hand / j4 Y  N' M- a) C
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' h- `3 X/ S& k6 g! wA->B->C->D->E  A5 m! o; _! E& `
so does it mean if E failed to pay D, 6 z. [5 J- y+ @- H  j
all the B,C,D,E have to go bankrupt?
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. U6 @# E7 e+ p! W, _; y
the multiplier just tell how much money created in a whole economy, 6 l  }9 x6 g; g
in this case it doesnt really matter how much money is created, ; k  F$ N6 ]! X% l
it's the problem of the debt itself.
/ Y, n6 g; |4 e- D) g6 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
" e& c0 j. I1 ]小弟一直都唔明...
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! a7 M$ V6 N# u: h+ Y) r8 g8 o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...
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敬請各師兄解答
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Thanks

$ |$ o' b% u3 s) K8 s8 b3 [那些根本係 紙上財富  6 ^$ }. Z/ @! C7 I7 G. `1 w! T
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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  r" D, A& J$ i  A+ j" Fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
1 K. q5 U0 K3 ^% d  `' j8 ], D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 {( L8 q( H/ M1 |4 e# 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7 Z5 U1 |+ k' c" f8 a
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ H5 E. J! K1 @$ Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 o$ E4 r; t. e' `6 S計番回報率就已經係50%,所以可以好好賺
3 B* W( P0 c; R4 Y3 a' Z/ e# L前提係銀行之間要互相信任先可以咁樣借法' r  ^2 ?$ G/ L6 p' _3 U' ^* \  ~1 z* s
同埋個市場既前境要係好先得6 g: h8 ?. S3 C0 V
但當經濟一差,公司估值趺了,物價不升反趺
* V& ?$ }! M8 ?例如剛才說10蚊的, 趺到得番9蚊, ; N- E  ?8 t! }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' u4 R2 u. M1 W* I9 z' ]% X
所以你就會覺得D錢好似蒸發哂咁  z1 k( n8 n( N# n; A, B% b& I
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你都可以當標野咁諗, 個樣野多人可以狂升值,
. K6 p$ k. n  f( |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,
0 \' p" |; A, @; u6 R8 z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) L8 M' a3 Z5 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: N) B$ o' p7 p; N) t% P
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
: [4 k2 |# F2 y- z4 \; G6 }唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- v& y- t. U4 {# T7 J+ d) B: }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 x9 H# |$ N. T% `  o8 u4 N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! u$ X' ~0 W
咁你話d錢蒸發左去邊? ...

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" q0 t$ n4 p4 d* k7 ?% w1 i正係咁樣% ~$ a' V1 t8 j( n/ s( w
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
, ^4 e: @$ I4 C$ e  w+ z- \5 i分分鐘佢地唔使還錢2 {0 W- t3 _# u" S3 Y% o% g

: N4 i( z& A, \: r" ]1 }4 ?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,
2 h1 L7 k- G* b' V* b$ s! V連國家都係問人借, 不停發債券, 印鈔票- O4 Z, t2 h- i: q* w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: X& _+ L3 w2 b! {' J/ w  \7 R
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.gif5 s7 j& J- K2 ]4 \  \" a
咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 ?8 ^# {+ e/ o' d: ?+ w/ L1 V, E4 D: P其實係..." ]6 a# X; F- k
因為以前未生產, 先消費. c5 r, K9 E3 g& H/ ]# _$ R
而家就要多生產, 少消費