0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- b6 ]( x( J1 d/ }
Why bank will sell 借據給第三者???
" R+ ?  ~, Q& I% lI was so confused.....

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講到尾都係賺錢5 C& ?& p% h6 y+ a8 ^
so銀行可以不斷放款4 k! L5 o7 v; V8 X
美國的房貸問題散佈到全世界
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mortgage loan 6 A. }9 @6 K" W
>conduit2 K' m: A% X  C" L
>RMBS(Residential Mortgage Backed Securities); R& e$ |) @5 w  M% u
>arranger7 R2 o6 E  e2 C7 S1 b
>CDO(Collateralized Debt Obligation)
3 b: ^; d3 Z8 o8 v+ j/ W) M- ~最後去到投資者

Kev

i thought it is the reason of rate of return.. \* h  @. _: N; z" A9 p( H2 ]
CDs could have different ratings, AAA -> F,3 F, \  ]& t! S& B9 j6 y& I  w9 Y! S
more risky ones would have higher premium (interest rate) as a compensation for an investment.# G" f: b! z. {& k! g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( W) N! d! r: g. d3 ?( |) x' ]$ nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., g, r9 U2 x% Y' Z0 l% H  o7 W8 V" ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- b9 \# u/ V2 A/ V+ @8 |% Msimilar to bonds, CDs trading in the secondary market have different value at different times,) P$ b" K2 p- T. u7 x/ w
normally the value is calculated by adding it's principle and interest. / s6 k2 ^# f( V8 i: `3 G9 f
eg. the value of the mortgage+the interests to be recieved in the future.   |. v' H; @6 h/ I- M1 m
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.
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' ?  {  a. \/ i5 Lim not quite sure if the multiplier effect does really matter in this case.
  d! M/ r' v+ e/ A% B, g# y# Nin stock market, it's the demand and supply pushing the price up/downwards.
4 ^, I$ W8 N, s6 F2 a7 t3 {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' Y$ c8 v+ a+ _+ J1 ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. g6 T. ?0 \" q& ?) p) HThe 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.
" `4 \6 C* L6 ]; G0 k- _* ?but the value of their assets did really drop significantly., g) S7 H. c8 j% L6 T5 ~

9 _/ F& v7 @% H& ~3 M) l# q+ L( D  q[ 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
7 i0 k& r8 Q9 w% m9 k3 PRefer to last example,
/ r0 }5 u/ M: ithat means bank A have no money because we borrow 10 dollars from bank A
/ j, @, d4 K$ r4 P# P9 LBecause bank A doesnt have enough cash on hand
: y$ C. N) C. L9 h* Ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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! B) t7 `( B" N5 v  M6 Y0 w- L0 pA->B->C->D->E
! x$ h9 P# D0 ]( M9 mso does it mean if E failed to pay D,
: q. Q/ B0 u: d- W5 kall the B,C,D,E have to go bankrupt?
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4 B5 ^; u8 c; Wthe multiplier just tell how much money created in a whole economy, 6 O" Q4 T; x8 Y! y- b
in this case it doesnt really matter how much money is created,
- S) A# e$ z. w1 Q( g8 I: j. l/ m& Wit's the problem of the debt itself.
6 o6 w+ r' V; r- V% N7 N+ zthe 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 t! b! I$ r5 b
小弟一直都唔明...
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$ b% O# Y0 }/ v5 U3 b9 h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...$ e9 C; y% k7 [' s

# s! T7 O7 m6 g9 x, g8 Y敬請各師兄解答, O! W7 d8 ?4 o" t  V, a' X2 X! v

+ Q! ^6 w9 ?2 x5 K6 X" [4 M0 }Thanks

/ e+ [9 q" X8 G% _8 t6 R, @  X那些根本係 紙上財富  * n, X4 v' X* b0 p8 |& r$ d
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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! a' m( U( W3 f  qhttp://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  H  M9 j7 ?: j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 K/ C% b" _3 {1 t5 j# D. V
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
4 q; w7 Y; e; M* y個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( ]! l$ H; q8 S! w- |; k, M8 a! \, k
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 e4 V3 k2 I! L( s2 k; S計番回報率就已經係50%,所以可以好好賺
8 h3 w% u  r) K" G& r, t前提係銀行之間要互相信任先可以咁樣借法
0 ?) Y! L4 w: y- m& Y同埋個市場既前境要係好先得
0 D- o! S8 i3 Z' E但當經濟一差,公司估值趺了,物價不升反趺$ R: u- z7 c  q1 c
例如剛才說10蚊的, 趺到得番9蚊,
7 a0 S: K& w7 Y; B咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 t# N1 ~$ C- @2 d* {7 |6 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,
8 x" D; Z) h5 s% K8 R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,
8 B9 w& T" h1 Z4 g' D3 j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 s! v" B- B! q5 U# y' |7 w
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
* t' N$ o& ]- d+ o: J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
9 }; Y" [2 }: a7 D. i. y唔係d錢蒸發, 而係比美國佬洗晒未來錢, : u  T0 y! u& L- G% }9 W7 U$ w$ H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 q6 o9 B) K; J4 m# Z$ F! 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  K. P" r5 K3 M$ D
咁你話d錢蒸發左去邊? ...

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正係咁樣
) N1 `: m. J: i# B2 n! ~4 {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
. |+ N$ r4 p: c7 f- z6 O分分鐘佢地唔使還錢" F- T, m" x& k! p

$ U  s7 Y8 N5 x4 C3 V" }3 m6 a5 R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,( ?+ r/ G; i0 J( k3 a: p7 P! }
連國家都係問人借, 不停發債券, 印鈔票
4 A. F2 _: N9 \0 k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, `- f3 K8 E3 G/ T9 _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. Y, d' q& N# T2 Q* f$ e0 N
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  f- I- J' T3 q- o3 ^3 e3 `因為以前未生產, 先消費
/ a7 S! y1 [: V4 W, D) Z. E; j而家就要多生產, 少消費