0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 {; N& f0 X/ D3 E; I' P6 Z) Q
Why bank will sell 借據給第三者???
2 `  Q& U) i7 XI was so confused.....

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8 ]# l5 }9 Z! J9 X- `, {) X2 G) _5 S講到尾都係賺錢
4 V2 o  _' s! j5 Y! Oso銀行可以不斷放款8 f" J& J2 c& }0 U% t
美國的房貸問題散佈到全世界1 O7 s3 U" d" o7 M
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mortgage loan - l6 S6 {; O" e* Q% o& ^( a
>conduit% R3 u& }3 L! o( e" }6 U
>RMBS(Residential Mortgage Backed Securities)0 E9 x7 B7 j+ B) ]$ g2 |
>arranger
$ {* h- ~3 |% x% H- w) A>CDO(Collateralized Debt Obligation)+ M' _7 T9 z; @; W: a
最後去到投資者

Kev

i thought it is the reason of rate of return.0 _2 r# m+ m8 E$ |0 p( k, w* J
CDs could have different ratings, AAA -> F,
+ S6 ^; N1 f8 {% \7 @9 f' h( amore risky ones would have higher premium (interest rate) as a compensation for an investment.
  b% k  U5 [* U/ b  ]main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& M- p" @  u! [! \& l. ?2 Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ P) N# g* M/ ~: y6 R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) ]3 U  T8 e1 A. G2 X
similar to bonds, CDs trading in the secondary market have different value at different times,
$ K- ?5 Y! n/ n. D, k: Tnormally the value is calculated by adding it's principle and interest.
+ v) _8 [6 M3 w/ Geg. the value of the mortgage+the interests to be recieved in the future. ( J& y# R9 @9 Y* 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.
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im not quite sure if the multiplier effect does really matter in this case.
* Z( r- t) J. \+ A5 C* `in stock market, it's the demand and supply pushing the price up/downwards.* T/ V$ l* j( i: ~& t+ e+ T- A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* a8 P$ w! v! a8 \
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! }% s+ e& B. j: M4 d2 zThe 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.
: F- w+ ^9 X6 p( ~# [) v+ M% Rbut the value of their assets did really drop significantly.8 h7 v' a7 ?+ ?4 g0 J( @5 \

3 ?0 b) ~" a! Q6 p. x& |. X[ 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
: }+ m1 a' a0 m: y3 WRefer to last example," T& Y6 a4 w( _- X3 r  O
that means bank A have no money because we borrow 10 dollars from bank A
. E! j7 Y/ P! O( fBecause bank A doesnt have enough cash on hand
( g! W( W. o7 N; x: q: t1 ~- ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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, d; H' Q: J0 E' ~9 |; [! KA->B->C->D->E
" ~6 B" ?' o0 T7 e! p1 |so does it mean if E failed to pay D, ( m7 u, |1 M% o3 Z. @
all the B,C,D,E have to go bankrupt?, I' i3 I) H0 G! O" A( M8 `

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the multiplier just tell how much money created in a whole economy,
$ Y8 G* S* ^! X; Y# O1 U! rin this case it doesnt really matter how much money is created,
9 P5 z8 [7 D0 P2 }$ o; _" D! Tit's the problem of the debt itself.
. l3 W1 {6 O6 q& X# F, @, ^; cthe 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
1 O* o" M: L1 Y- i- m# [! |小弟一直都唔明...
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* T3 X2 |4 z. u6 e* U2 b& q5 n" Q全世界都蝕錢，咁邊個賺緊錢呢?& S8 s. C9 E: b# e: f
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無可能淨係有人蝕錢無人賺架嘛...$ w( Q% |1 P/ v% V: o, {
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
; b. X3 `* h3 k) |8 ~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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9 y$ c1 Z: S$ y7 @" H3 ehttp://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) @- a1 S7 K8 B& a! q' r5 A' }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 w4 G# f6 |4 b
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 N8 Q' [3 x( M7 e) j/ \% S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* `. L8 i2 t) A5 t8 f0 W# h, I& ]
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  d" d$ W* |& d( Z4 e
計番回報率就已經係50%,所以可以好好賺0 [4 f0 t* z0 p' Y
前提係銀行之間要互相信任先可以咁樣借法
9 W/ D0 I5 T/ {  U' p, }2 H8 o: y同埋個市場既前境要係好先得
/ T) `" K/ y! j: R; N3 }但當經濟一差,公司估值趺了,物價不升反趺
6 _  J' _5 W1 C- f2 n例如剛才說10蚊的, 趺到得番9蚊,
1 @1 b( w  b+ |咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( q3 i0 `9 D! [' b3 {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,
# W: p- B/ z5 G3 y- p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,   c: D6 G. F6 P8 C+ t& H: h0 v, t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* V, I' g: Q4 m, ]) i; 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
' C& b0 C( G( _4 [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# W# M0 Y( g  o$ s- W
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( X" d' H0 b# V4 U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 ~- g: i8 N* H
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  ]- n6 L" u* |3 }! `: U$ E
咁你話d錢蒸發左去邊? ...

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正係咁樣
* C# S0 b8 c: s+ x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' p! f2 p/ w8 _# R, e9 a! \, F
分分鐘佢地唔使還錢, M1 ~& O; `0 r9 Y* B
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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,' Y: ^7 j$ L+ G# x+ _8 C
連國家都係問人借, 不停發債券, 印鈔票
  I: |+ {) o6 t! z- q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 }0 @. s$ ?& Q8 d$ a' y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
2 b  d/ R/ v5 A$ _咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
6 F) d) e. `' D" C! V$ s% s8 e# c因為以前未生產, 先消費. p) w% s; A: k2 Z, C, B
而家就要多生產, 少消費