0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* [1 ]+ n7 z7 S% \6 lWhy bank will sell 借據給第三者???
: f; n" h9 D8 o) l7 |1 xI was so confused.....

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講到尾都係賺錢
! E. z7 S' I# Xso銀行可以不斷放款
/ B0 m. U  n7 z, x- ^' l) h' X' i美國的房貸問題散佈到全世界
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mortgage loan ' P; o% Z- r' y/ g# a
>conduit$ K5 G( H! g$ P/ v' I% G6 X
>RMBS(Residential Mortgage Backed Securities)
* [! j6 |- ^! ^2 g>arranger; G/ Q0 J* M3 e  l( C# E( ^
>CDO(Collateralized Debt Obligation)8 |9 B) E) H8 ?+ q4 g! X
最後去到投資者

Kev

i thought it is the reason of rate of return.1 S) C) |2 [5 R1 Y3 x# T0 Z- G, l$ K
CDs could have different ratings, AAA -> F,' I7 @3 M- a0 [3 \
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 i8 ]6 z' p% H: z+ ~, Y  @# \& \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! R3 w; l1 B3 e' Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 ~6 b6 I/ ]/ V4 NAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 o* x7 Q) i/ Jsimilar to bonds, CDs trading in the secondary market have different value at different times,  o# n* k8 }7 U) j
normally the value is calculated by adding it's principle and interest. 1 k% g% K" R3 ], s" q3 F, E
eg. the value of the mortgage+the interests to be recieved in the future.   Y1 g& F7 K) b  l  S: t( V
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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3 N3 M* j  I1 ~7 m8 N5 O" `im not quite sure if the multiplier effect does really matter in this case.7 {2 j9 J" U3 v3 b; O
in stock market, it's the demand and supply pushing the price up/downwards.
+ E1 O/ e9 `! g7 jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 l' j: b9 x/ T* I
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ Q/ l4 j( n: Q! G; `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. 9 S8 G( |0 x$ b( r9 m7 n6 r( z
but the value of their assets did really drop significantly.
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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.gif2 q) Z1 A3 r, z# ?) L& Y! t' L
Refer to last example,$ S8 v- ^% G# f$ Q: l- a' F
that means bank A have no money because we borrow 10 dollars from bank A
7 l, q) h9 h" P! M) T% Q' xBecause bank A doesnt have enough cash on hand
- b1 g, j& G+ L; _+ s3 O6 Vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 d& w3 q! u- |* V8 ~A->B->C->D->E* m. c+ U  t1 W- }+ ]
so does it mean if E failed to pay D, + }/ _) C# S1 J- M; K; n+ ^3 [9 J
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, ( a# Q7 O0 Z) D/ [8 I8 v1 E
in this case it doesnt really matter how much money is created, % B: ~& C. C. W0 c
it's the problem of the debt itself.
: h! ~) L) |" O/ P- A  |8 nthe 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.gif5 e! e: X3 K( D8 p
小弟一直都唔明...
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9 A, r5 v" T7 O6 d全世界都蝕錢，咁邊個賺緊錢呢?- t6 B+ B3 j/ A$ M% J* B9 V

  o! C# G' n/ J5 M無可能淨係有人蝕錢無人賺架嘛...' D4 T% q0 p, b8 M9 U

+ }& J: `, R/ }敬請各師兄解答; d! G; ~" {$ u, w8 D
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Thanks

% P' j1 F# n% B+ s% ^3 d) W; c& w那些根本係 紙上財富  4 o0 b; a' J& @5 z  `
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. p/ q0 r& V+ K# \

8 j8 c) Z6 ]" r( P7 n7 _8 _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
# [1 A' M: [3 G) Z, X& J當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& B, V; b. g  Q* d& @1 D; 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+ J) I7 x# @/ J
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% V; o6 A# e4 t( J. A+ g扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' r( M! O$ o" {& l4 |
計番回報率就已經係50%,所以可以好好賺
0 }( k) ^: g+ ]8 h6 I! N前提係銀行之間要互相信任先可以咁樣借法
# l# a( n) e4 V0 Y- B3 }5 f同埋個市場既前境要係好先得
* a6 v5 |& [6 A# b* z' |. q  Y5 s但當經濟一差,公司估值趺了,物價不升反趺8 p$ [% L4 W& N# e: i3 j- {
例如剛才說10蚊的, 趺到得番9蚊,
( ?; O; c7 o/ W+ G3 z咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ q0 n' r2 ~. ^
所以你就會覺得D錢好似蒸發哂咁
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% b/ j# `% j# a. K& ~) `你都可以當標野咁諗, 個樣野多人可以狂升值, , ^  |/ r  _. c" _$ I% }& c, W
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,
7 ]5 M) a% S6 G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + F" a* m% Q+ {/ i
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  A' g& j  C5 {! Y6 @) y
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
, g" e9 U( C. F' N! m7 t唔係d錢蒸發, 而係比美國佬洗晒未來錢, & u, x3 t# |! \7 O& t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! \) f- _3 ~; k3 x
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
6 }4 s, E$ Q# w: I+ f咁你話d錢蒸發左去邊? ...

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1 r3 R. ^1 H( ]" ?正係咁樣
% u5 O0 M" F" S  Q; 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
7 M1 q+ v0 j8 v: N分分鐘佢地唔使還錢. Q1 T1 S# C, q/ h; p

, F# D% K& W) C4 ?# y# j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,' h" y$ e6 o8 S# B; v
連國家都係問人借, 不停發債券, 印鈔票2 A6 D! y. q- _+ r) }3 ?" f" K2 K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ w7 K1 i1 {8 v7 {$ G2 T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.gif6 `0 s3 x( r2 E" q& u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 U1 }/ f- U! _  l9 m7 W
因為以前未生產, 先消費9 z! ~1 X! {" E2 p& l
而家就要多生產, 少消費