0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! n, |6 U& t5 a# [
Why bank will sell 借據給第三者???+ a. q. ^  b8 \# ?! z; r
I was so confused.....

' [2 w; g$ L; I1 ?  y* i5 E8 n4 ~, ^" ?2 y- S$ L2 u
講到尾都係賺錢
2 V$ D) P) e) k3 M  a  M4 L& G& Y" l% bso銀行可以不斷放款
1 F8 b; c. L0 y7 [美國的房貸問題散佈到全世界
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6 p, O6 K5 N7 F  i/ z) p6 ymortgage loan $ T7 s6 ?0 s2 U6 ?: `
>conduit4 v% f2 _, q* u  p" H' ~
>RMBS(Residential Mortgage Backed Securities)# \) ?$ Z: I! l4 L7 `+ z1 x/ P
>arranger5 e1 A! V& A; {9 }
>CDO(Collateralized Debt Obligation)0 a( ^8 V' x" n! [: G
最後去到投資者

Kev

i thought it is the reason of rate of return.
' N: I* e+ ?1 M5 r0 @: `CDs could have different ratings, AAA -> F,' V! B$ t0 J# n, U
more risky ones would have higher premium (interest rate) as a compensation for an investment.  X+ Z9 C/ ~/ f) D6 l3 D' N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ e. G' s/ _5 a6 z1 I/ G, U8 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 ]6 P9 o% O% g  A2 }5 kAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* C$ V. ~/ M. u5 u$ Q4 |similar to bonds, CDs trading in the secondary market have different value at different times,
! `* ?" Y) N  {9 W4 I: K9 Hnormally the value is calculated by adding it's principle and interest.
$ x  N: |5 v6 ?- ?' d, Geg. the value of the mortgage+the interests to be recieved in the future. 4 {; ?  R4 N6 u0 S
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.. B1 O. c( u4 d

2 B+ E, X4 q6 c' bim not quite sure if the multiplier effect does really matter in this case.
3 |5 U, D7 ^! y" x# Min stock market, it's the demand and supply pushing the price up/downwards.
, }3 G0 ~2 _" {1 OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; P  ^9 r! s- M5 t8 x: F" y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( B% p* R2 X1 n3 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.   s  c3 F9 i# N4 b. ?) B' ^. f& ?
but the value of their assets did really drop significantly., y5 l5 j6 d& o( T1 ]9 a3 z
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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
2 x2 h8 k$ Y2 _) f% m: ~9 PRefer to last example,9 _* q  S8 W$ q2 X' R" r
that means bank A have no money because we borrow 10 dollars from bank A
, i, |7 j8 x' Z$ yBecause bank A doesnt have enough cash on hand
% \# U/ y4 E. C- \: d+ q; H: ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 t$ y0 k/ d4 NA->B->C->D->E
5 i/ e& N8 k- H/ Yso does it mean if E failed to pay D,
+ h* V  r+ [, Q* o+ \$ ]9 ball the B,C,D,E have to go bankrupt?
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2 q1 a/ t8 Z# I/ K' C  Qthe multiplier just tell how much money created in a whole economy, . L; ~: L5 S0 e' J
in this case it doesnt really matter how much money is created, " y- J0 C7 M: E" w  A8 W% O
it's the problem of the debt itself.
9 r- g# h8 f% v3 s% b. `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.gif+ o) M) E: ?5 N7 K
小弟一直都唔明...
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' ]0 c' D  a* o( E" W2 {! ?! C/ Q7 r全世界都蝕錢，咁邊個賺緊錢呢?. C' U: u# _0 V4 u& e
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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# c! e. A1 M7 [# J% g
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Thanks

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那些根本係 紙上財富  
( V6 Q: v0 T4 u  @) W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* h5 r: d( `! M$ T

/ c' V+ s8 M) v# F8 s( d0 chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 C( E! n+ ?) _- S7 F0 P2 b, a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- t( c/ N% p/ F6 n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
5 U+ n$ m0 I% g3 P8 B$ [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 D* }; z3 w0 ^扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. u% k. i& y) l5 L6 s$ S1 }/ ?5 t計番回報率就已經係50%,所以可以好好賺$ B6 ~  G3 `2 @2 @
前提係銀行之間要互相信任先可以咁樣借法; p  G7 n4 w. q4 v- A6 A' @: l
同埋個市場既前境要係好先得$ n4 |* @! ~3 c
但當經濟一差,公司估值趺了,物價不升反趺
* H5 c( [2 p0 @% r! o例如剛才說10蚊的, 趺到得番9蚊,
/ {! k% k* g  ]& o' [6 g0 L咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ c: U" W2 ~- t1 y
所以你就會覺得D錢好似蒸發哂咁
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! c4 b5 n6 u* T) ]你都可以當標野咁諗, 個樣野多人可以狂升值, " D( X$ [5 F6 \
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 ?8 ]9 K: T; n+ t+ w- s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 s- y0 L' u, |$ c( O, l
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
: c" M  l  p9 {8 C( s  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
1 z* `& L# k& I! {! o唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; S# L, _7 ]! C4 s' _  V* w. `8 L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , z; |- Y( `& G0 Q8 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
7 M/ N, F2 _5 w& `" x7 |% J1 {咁你話d錢蒸發左去邊? ...

  k! n0 ~" i8 m; i% }3 Q6 _" q( M5 x8 c* O7 e% u) q
正係咁樣
% o, |# a' q2 H) L8 J: o  H: ?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0 D) }# e2 J$ ~, ~, w: d. ~
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," |- s0 E6 U! E7 h( w0 y
連國家都係問人借, 不停發債券, 印鈔票
- a9 t1 `, x2 X( r, z( P一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 n* }) J2 p5 e* ~  |& s0 J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  E! b5 X3 J! V8 P. m# L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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! W7 A9 t. v* E其實係...
9 e8 g" R; C8 V$ p2 h因為以前未生產, 先消費) i! o: H2 ~7 y- J, g- R6 }
而家就要多生產, 少消費