0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) e8 h7 W) t) iWhy bank will sell 借據給第三者???
2 Z; S3 R2 B0 ?! r2 ?I was so confused.....

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講到尾都係賺錢
* @) |; t! _, F4 g6 Qso銀行可以不斷放款+ l$ {! Z, X. d) A: [- y
美國的房貸問題散佈到全世界$ ?6 u  F* S7 l
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mortgage loan
' ^0 z# A& n8 o& h' z>conduit
: g8 j* j; b5 E- o; ?$ y$ V, q>RMBS(Residential Mortgage Backed Securities). O7 s- B' ]) }6 L: B7 K
>arranger
% E: ]* O# C# @>CDO(Collateralized Debt Obligation)( l! A8 [2 d3 j" G$ c* I6 t5 g
最後去到投資者

Kev

i thought it is the reason of rate of return.
4 d, H  E' E- Q+ ~CDs could have different ratings, AAA -> F,
. K% W  v! w: d+ [5 e9 Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- Y+ @& E4 l1 I8 Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! ~. S3 }6 t1 |0 d9 @2 Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* i, L+ |% Y6 o" ~( S3 m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 Q2 m$ R7 q: q& ?
similar to bonds, CDs trading in the secondary market have different value at different times,
* K3 W4 u9 c# Fnormally the value is calculated by adding it's principle and interest.
* E* y8 N1 y5 ^, Y( @eg. the value of the mortgage+the interests to be recieved in the future.
( o! w) {' |* O  bbanks 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.8 h: |- _7 u) E& H; t$ y0 e$ u
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im not quite sure if the multiplier effect does really matter in this case.# o1 d& |6 n: m$ J+ ]
in stock market, it's the demand and supply pushing the price up/downwards.
" S" S# a- o& V# h5 EFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
2 u! E3 R& V2 J8 M. p% AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 |: x  Y; c1 L$ C5 LThe 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 m7 q0 v( J; v8 V' L; ybut the value of their assets did really drop significantly.' J- h* z9 C" t/ J) o; p

; V! ^( ^5 i+ F3 r9 |( j[ 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/ c. _+ `, Q! [7 @
Refer to last example,2 h* y! Y" R, o4 F$ N) L# J
that means bank A have no money because we borrow 10 dollars from bank A & ^# O0 X  r+ V# O6 S7 E. c
Because bank A doesnt have enough cash on hand - O  ^0 K& R( q/ Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  i  _% m) H/ }: W9 vA->B->C->D->E
' n  Q! j" Q; m  N0 nso does it mean if E failed to pay D,
+ q: L0 `7 {3 c# j0 J5 T, Oall 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, * F, K* H. L6 }0 {" J! F- x+ |
in this case it doesnt really matter how much money is created,
& L6 M. {6 z8 w1 @it's the problem of the debt itself.3 ~+ o' u2 ?+ J+ r9 L& G; ~- Q* d
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
3 z- Z( N7 A& D5 _+ J2 d: [小弟一直都唔明.... B) |" {! i* E5 i
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全世界都蝕錢，咁邊個賺緊錢呢?
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7 _% Z) a2 d  A; a無可能淨係有人蝕錢無人賺架嘛...
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! i( x3 l- ^6 Z! r+ ?( Y0 @敬請各師兄解答$ m4 e4 L# t- c' E$ I
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Thanks

  c* `3 S4 |; {9 j' w  d! K那些根本係 紙上財富  
0 V. Q: h( m8 m' n( _5 ]# \. ]7 s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 graphic9 X* ~1 M3 W0 I/ Z# w
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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) A4 _* I2 @; T7 H8 t, P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 w: o4 L/ N+ n4 r; O1 c
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
( N# ?& z9 \- ]" U個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% x* S% d' I% O扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; L' n6 U' B8 d
計番回報率就已經係50%,所以可以好好賺
+ ?, p& q4 Y* ~" }6 o4 W( B前提係銀行之間要互相信任先可以咁樣借法
. I! a; H3 I/ Z& B# A- V+ w- V& X同埋個市場既前境要係好先得6 N' r1 [$ @/ \3 V8 `
但當經濟一差,公司估值趺了,物價不升反趺9 g5 f( b# V9 l* z# c# l
例如剛才說10蚊的, 趺到得番9蚊,
! K9 x, n9 N& W咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 p1 `7 m/ S/ @; e, O+ X" U7 @
所以你就會覺得D錢好似蒸發哂咁9 N: _: c7 x" O: k1 N* c
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你都可以當標野咁諗, 個樣野多人可以狂升值, 9 _/ S8 m4 k6 S0 z' E) a: L- y
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, / k4 c9 `  e1 A( G! w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 s* l' C1 U  }4 A9 V! p) 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
4 {% j1 T* g- p3 @- c. m+ ~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) v* L9 ^0 `7 q$ R3 M
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + F  @8 y* B$ F, U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # {! T6 v, N! R9 L' V4 T  M
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
2 s/ t: e6 A+ X( b咁你話d錢蒸發左去邊? ...

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正係咁樣8 Y) _) M; D/ p1 g$ o6 ]: `* M
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( t8 {* V( Z4 G( F; m9 S9 A1 j
分分鐘佢地唔使還錢
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( t0 [1 y6 _- Z' C0 E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,7 e% W; c# E8 E# X" |% g5 K' Y6 F* _
連國家都係問人借, 不停發債券, 印鈔票% R4 q4 O7 W9 G, j9 y" i0 f8 f& T
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 B- {* v9 q2 S& K9 l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
$ t; y+ z3 a0 B6 V6 I咁而家"爆哂煲"算唔算先至係變番"正常"???

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' n3 r5 i) Q- w" e2 E* `+ g# Q其實係...
, B' [$ e( ^( l0 W! a' N因為以前未生產, 先消費- U3 U* Q' `8 m/ N, J
而家就要多生產, 少消費