0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 v. D6 n; I: E$ N& E; U% @
Why bank will sell 借據給第三者???
# G5 z0 C# R4 o, J. N+ C7 w' }I was so confused.....

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講到尾都係賺錢( p0 k6 H1 R5 ~% X: q& h+ `0 I
so銀行可以不斷放款
! f3 g' c+ V6 C5 J6 f8 C美國的房貸問題散佈到全世界
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mortgage loan " x) M4 m5 h2 z3 I# |2 a3 [
>conduit! a7 a0 h. ?7 D) L$ o
>RMBS(Residential Mortgage Backed Securities)
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# A1 ~7 G! z0 l8 _3 m2 w/ P>CDO(Collateralized Debt Obligation)
. t- e& U* k3 t4 s- K6 F最後去到投資者

Kev

i thought it is the reason of rate of return.
3 \) Y! O3 {. Q- F: O" \CDs could have different ratings, AAA -> F,9 t! G' R2 ^4 h/ g* u& Z9 i
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 K2 P, R3 N8 _! g1 D4 ?0 `  b) {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 O7 q2 `0 m& a+ iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 I+ J7 ^7 w9 Z9 HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ l  _! o# ~, ?% R3 K7 j$ q& n
similar to bonds, CDs trading in the secondary market have different value at different times,
% C' I& h' p* z8 m2 {5 pnormally the value is calculated by adding it's principle and interest.
# S* H0 @& ]- e# T- Reg. the value of the mortgage+the interests to be recieved in the future.
1 a* Y/ P. |6 S% `. [$ Jbanks 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.1 c) }. v9 T# V1 l7 q% t7 q
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im not quite sure if the multiplier effect does really matter in this case.( u0 Y& _; G7 ]# g, o6 I& \
in stock market, it's the demand and supply pushing the price up/downwards.- w4 z9 ~- k0 Q9 o& ?7 J! Y& P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 R7 J$ M( T2 r3 K8 ]0 MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' N4 }: P7 R) G8 |' sThe 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 G1 A5 L- ?, l3 K* O7 K. R4 k5 Tbut the value of their assets did really drop significantly.0 ]8 V3 A/ z1 m' ^

, w: z+ N, t& D3 B+ ]4 o[ 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.gif4 d7 T7 G$ O: @$ l8 K
Refer to last example,' s+ n0 [8 y# i) E7 ?0 Y( i+ T* B
that means bank A have no money because we borrow 10 dollars from bank A 5 x4 w1 x; ~: w" n' @
Because bank A doesnt have enough cash on hand 2 b) s3 i; {  S4 z. p7 X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 g! z2 }* w& m! d1 g. J/ v4 UA->B->C->D->E
, D6 H& ?& Z6 _/ C: kso does it mean if E failed to pay D,
/ q" H$ s& _/ {0 _5 m/ uall the B,C,D,E have to go bankrupt?' k1 F: S  ^% G- Q9 o" y
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! C( D$ g% Y+ e! e. L: d. ~the multiplier just tell how much money created in a whole economy, $ ^, B. O/ B$ P, g5 C* b0 I
in this case it doesnt really matter how much money is created,
/ x# r  h+ K  D, ]$ bit's the problem of the debt itself.
# ~0 o) L; _2 L6 `( B9 C7 ythe 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.gif1 N7 O" P3 H& a, q) ?# h6 F" l) H
小弟一直都唔明...; M8 T4 \4 O% s4 E2 G5 R% g2 l
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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...( h: R2 Q. m/ [- d- T; U& x
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敬請各師兄解答1 Z, n0 b6 b2 `
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Thanks

$ h! t1 I2 u6 U那些根本係 紙上財富  ( [/ u( B+ {: r. g3 U
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 graphic8 I9 @& \/ ^( ?" w) v

& o0 H) K2 J/ v$ L% F; ?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0 g2 b' B. K" ]$ N8 N
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 r  J' K6 ]% q! ]2 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
/ X0 a% }* T5 z/ [# w- a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 K9 x3 x) u2 u2 h* Q' ]8 F扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 v: a, l8 r; y; {& m2 U計番回報率就已經係50%,所以可以好好賺
9 [& v* A# f+ T9 x" V' c前提係銀行之間要互相信任先可以咁樣借法
( Y) z- \& J+ Y& X( W同埋個市場既前境要係好先得. K2 M' U- u! ]/ X+ r" [
但當經濟一差,公司估值趺了,物價不升反趺
' ^8 X4 f1 ]  y. d5 }9 o例如剛才說10蚊的, 趺到得番9蚊,   v7 S6 h; B% e
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: f5 g. A! t" L
所以你就會覺得D錢好似蒸發哂咁
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  Q! `- a+ {5 ]9 w% o0 ?" t; x8 d你都可以當標野咁諗, 個樣野多人可以狂升值,
. a/ v6 |5 o9 T, H1 a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,
: h0 t, N6 e) m/ [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + T: M$ v3 [1 P4 A- T1 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8 s7 ^8 I# Y, A! V  _1 k
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
# k, `9 ]# I( F唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) ]+ W4 ?: I5 ?& {5 m" o" Q6 }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ z0 \$ z+ c7 ~' b+ 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( @: ^4 q) |6 V6 t6 B- N3 r  j
咁你話d錢蒸發左去邊? ...

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正係咁樣  Y* o; E2 H+ N5 o; Y
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- f& ?' _( H$ P8 N9 A" n  F
分分鐘佢地唔使還錢
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- i. x; O4 J3 I+ A% K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,
4 {; v7 }4 l7 M; c& a3 G" y. L' H連國家都係問人借, 不停發債券, 印鈔票
# x$ X/ j8 h5 X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* Z! \3 P6 z* W; h/ m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
/ g1 W$ e# {8 o+ U. T5 J5 j8 A咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
. d1 ~6 k/ B+ }( P; K- }4 X, T因為以前未生產, 先消費
' J. G) n, z4 D4 w而家就要多生產, 少消費