0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! Y' M" n6 G2 eWhy bank will sell 借據給第三者???' C) \5 t1 {" M' M2 e- N& L. l" A
I was so confused.....

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講到尾都係賺錢
: v5 o8 z: Z5 xso銀行可以不斷放款3 t: B# y2 g0 |
美國的房貸問題散佈到全世界
# s% T, h8 T( k' U9 W" E
) l: e0 c* s( d) S8 z( Emortgage loan
/ m# M( @1 e. _6 r& O>conduit
  A3 Y0 N  L2 Z: q8 W' O* D>RMBS(Residential Mortgage Backed Securities)
3 I% W( p4 s! f# e5 s9 H/ y>arranger
! q* d3 D' h: P: {6 @) A! ~>CDO(Collateralized Debt Obligation)
/ l' j. t, D' d7 \" p* z- v% A+ t最後去到投資者

Kev

i thought it is the reason of rate of return.' c! w4 u# g  E1 y! O* c
CDs could have different ratings, AAA -> F,- A! Z3 ~  A5 ?9 ^; i" u
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 U9 R1 \- d0 G& I- {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! J  N. r0 J$ x5 @( S- k1 oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' _& i; K" P& ^4 q, t
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 `: G0 D" W- H# V- z( x7 t( gsimilar to bonds, CDs trading in the secondary market have different value at different times,
7 _' e. {  n! [- f7 dnormally the value is calculated by adding it's principle and interest.
( s! ]! ?1 N% q* H2 beg. the value of the mortgage+the interests to be recieved in the future. 8 s. l9 r: {6 }* j2 r
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.( g9 z: ?9 }+ j# w) c; B

% n: l0 Q! B' v; \/ z' N  dim not quite sure if the multiplier effect does really matter in this case.# ?. W8 b* x! y0 e% ^- U* }& R
in stock market, it's the demand and supply pushing the price up/downwards.
. h1 u1 `! F$ HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 m0 y* m4 ?7 K' C7 }; yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& u& z2 e) _2 N
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.
6 n! V2 ~" q/ v9 j' Ybut the value of their assets did really drop significantly.  B; H% u0 f4 H7 w0 \
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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
. o6 V9 ^1 U  @; R; D' e) j9 s  yRefer to last example,3 D9 K) s1 @7 B6 G6 Z% ^9 |3 ?% k
that means bank A have no money because we borrow 10 dollars from bank A
# m1 ?& D9 @$ m$ D9 k$ ]5 yBecause bank A doesnt have enough cash on hand
; Z( V! H, C0 D' ]0 M% f& Q1 n+ mtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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: T* Q( [/ `- B6 W! hA->B->C->D->E
0 a" L" W, Q* k1 ?so does it mean if E failed to pay D,
& `/ o! p  P3 E  L- B' ?9 nall the B,C,D,E have to go bankrupt?
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# K% A) A7 x1 |  H1 Q% X$ a5 \; hthe multiplier just tell how much money created in a whole economy, 2 M2 X6 m: R& ~8 K$ J
in this case it doesnt really matter how much money is created,
9 u  G* I! ~* T6 f7 j1 zit's the problem of the debt itself.
" _, ?. {8 p" J8 gthe 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( V: i  B8 u- q! |8 j# t
小弟一直都唔明...
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, \6 h; d$ p5 T6 x. k# N) n" Z4 ]全世界都蝕錢，咁邊個賺緊錢呢?2 d; H2 l2 V* d% ^" H
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無可能淨係有人蝕錢無人賺架嘛...: N2 W( Q8 O% y5 H$ A0 T- y/ J

4 N, `7 [3 x" _( m' n1 m0 z4 o敬請各師兄解答
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4 V* H; {2 Z: u& ~Thanks

5 A8 M7 ?) W/ T. [, w8 \% h那些根本係 紙上財富  
1 g9 q6 j  G8 V2 F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( t$ y  |, Z' e7 [0 u/ H! ^# T- p

  T3 R* O, s" |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
7 p: T6 X9 Q6 |7 J7 k" V- W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. d# ~$ A; N8 w, w# u0 o
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9 n4 F4 \7 H# X* \* y+ ?: @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ E! `# p8 T; K扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: W% [2 n6 n! q6 i# v/ d. N2 k
計番回報率就已經係50%,所以可以好好賺( c. ]! Z/ U$ D# w, u9 x* ~
前提係銀行之間要互相信任先可以咁樣借法/ q, h, N2 x$ P# N5 b; n
同埋個市場既前境要係好先得1 ?" ~8 `3 \' G& ]5 P8 M, k$ V
但當經濟一差,公司估值趺了,物價不升反趺
: p5 d: {- N6 I: H- S* J: r: U: H例如剛才說10蚊的, 趺到得番9蚊,
4 a) }& ]6 S, i# a7 L咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ k1 f! [8 b! [# i% w- ~
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( p2 u9 S& C* L& P2 z. R( r: M) I
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,
* y4 \: q7 n& L4 v! H5 ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # W  ?, m1 g0 Q0 b% s/ Y" s1 m( X8 H5 Z
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 ]$ L- C! f0 n+ q3 ]+ 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.gif
5 D6 C3 T$ v% D& p唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; X. S1 D4 G# n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" P  n1 Q: c7 d+ M7 e+ k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8 i; D; |0 x: A! E1 t; D# C
咁你話d錢蒸發左去邊? ...

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: E- q- ~5 H; {+ V正係咁樣
3 Q- j5 _  V" c! H9 j9 B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# |: k6 X( u9 p5 @
分分鐘佢地唔使還錢1 P4 L6 Q& R7 E9 X4 o  P
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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,- j6 `, Q! T7 a" A9 l
連國家都係問人借, 不停發債券, 印鈔票
: p+ D; r8 z0 ]6 M9 Y0 F一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# C0 ^: e: O2 ?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
) o' o, H7 s5 `' E咁而家"爆哂煲"算唔算先至係變番"正常"???

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) C# ]5 J+ x3 ]! Y其實係...
* o+ m: o0 u  \; p; A) W2 o& M; N, W因為以前未生產, 先消費  D: u& _7 x9 y) \
而家就要多生產, 少消費