0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) l- H$ R' }1 p4 Q* B' c
Why bank will sell 借據給第三者???
$ P6 K  J3 j- u0 cI was so confused.....

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+ Q( l1 B. r3 h% L; i& R講到尾都係賺錢
- s# H' R7 c  dso銀行可以不斷放款* Q- x6 I1 a  i" a% o6 N. a
美國的房貸問題散佈到全世界& Y9 F, T+ k/ e6 _
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mortgage loan 4 w5 ?$ K6 j3 l# o) m
>conduit: Q% F% ?, t; G/ @) A4 ^# B  v1 ?. N
>RMBS(Residential Mortgage Backed Securities)( C- p5 a+ L2 i8 S: q2 F  c7 t
>arranger5 X9 I! V$ o) {1 C, m
>CDO(Collateralized Debt Obligation)0 g% ?& X2 W7 P) c8 G, r7 Z
最後去到投資者

Kev

i thought it is the reason of rate of return.
6 ?: b) w# s, J" _6 j6 ^CDs could have different ratings, AAA -> F,7 Q) ~1 K  m) [8 w; ]5 M& T1 v
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- I  v* u8 D4 Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 X: v4 U( I( U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' p! u; F, c: h6 Z1 x
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 g- k) v7 F. A/ b6 k. T- R1 h
similar to bonds, CDs trading in the secondary market have different value at different times,7 s( W) r0 d5 ]" {- \& P) s  t
normally the value is calculated by adding it's principle and interest.
  i5 z! M) E4 ]9 ]' L. t4 ?eg. the value of the mortgage+the interests to be recieved in the future.
6 c3 ?; W2 v5 l- ~+ Sbanks 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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5 k; N" @( u+ M# `$ ^- lim not quite sure if the multiplier effect does really matter in this case.
/ s: n+ o  T1 d8 {$ w, H) t* C% Tin stock market, it's the demand and supply pushing the price up/downwards.
$ L, ?6 |0 N0 A; [$ J3 V# hFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" m3 i% p% b7 X9 H- b1 YA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" b. O0 }& y* K! n1 r  U2 z2 IThe 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. & ?/ A0 H! I* z7 Z0 m2 i
but the value of their assets did really drop significantly.
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; [2 T+ G3 G6 q' E# `/ P" 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" g  a/ D; E3 Q$ M' N
Refer to last example,
0 D. I) l/ B% ?2 Jthat means bank A have no money because we borrow 10 dollars from bank A
. k$ E  J0 I9 X% j$ y2 lBecause bank A doesnt have enough cash on hand
/ V8 [' y9 F: Z8 {* P. I* ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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. W4 e% n* ~8 u! C' cA->B->C->D->E) @, {: l# o3 a) q% P$ ~$ L/ I
so does it mean if E failed to pay D,
. p; l9 k3 N% Iall the B,C,D,E have to go bankrupt?0 {! R8 |7 Q0 z  a6 P
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0 G; x! p6 ~4 W3 uthe multiplier just tell how much money created in a whole economy,
( p$ {' ^1 s" P" jin this case it doesnt really matter how much money is created,
$ F' v3 ]% M1 P0 f- y* H; wit's the problem of the debt itself.+ L6 ?2 w: z" d& z
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
1 Z' T2 l0 f; j( ~2 ^. N& O$ c小弟一直都唔明..., K. v# l0 K/ N& U: _- }

& Q+ b1 V; U1 F2 k, h' h全世界都蝕錢，咁邊個賺緊錢呢?+ [* q7 X4 S8 e

- @  [$ X. b  Y" ?4 Y無可能淨係有人蝕錢無人賺架嘛...$ u3 t$ z! B5 T+ v7 A

. q& {" K/ B! H: \) f敬請各師兄解答5 v+ P7 F4 @- ~4 H5 }
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Thanks

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那些根本係 紙上財富  " E& z3 ~" W, c: 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
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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
9 r& R+ |7 S9 h& F5 I4 T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 Q/ b7 }; z- k2 j
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3 l2 h4 Q1 Y6 v- d" s$ v/ }0 ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; `* I. V  i$ T3 Z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! z( }0 G9 e& F" Y8 e6 k. ~
計番回報率就已經係50%,所以可以好好賺% S) c5 U1 V9 A
前提係銀行之間要互相信任先可以咁樣借法/ ]$ P; G  p- n3 B( d
同埋個市場既前境要係好先得
' F0 e* w4 X: G但當經濟一差,公司估值趺了,物價不升反趺
' m* e7 T3 x3 A" W% r7 f例如剛才說10蚊的, 趺到得番9蚊,
' C& r4 J4 z2 M* e# l8 T& I6 \% a咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  ], V9 M+ x( \5 Y
所以你就會覺得D錢好似蒸發哂咁
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" u$ t3 _5 A' U6 {你都可以當標野咁諗, 個樣野多人可以狂升值,
. m$ V* v' U  o7 n( A& q1 O; J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, 4 B6 R% n8 J; ?# J" N1 A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & f# w" U+ t3 k0 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
+ i) l" Q; Q* ~$ D+ Y: c  _( ~% G) W( 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
8 r% @; _" L; K, w. Q3 g唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ w- A# }) N- C; E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 J. r) `& s, o0 n
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# W! k& E( a) `) E) [2 n! V' @
咁你話d錢蒸發左去邊? ...

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正係咁樣( U2 p9 v$ b3 M8 q( P- ]2 ^2 s1 |
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/ d' B2 K; O5 A4 D' z" u, D7 l
分分鐘佢地唔使還錢
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# E0 R, x! |2 A- Q$ t/ d& l" p8 ]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,
+ a3 V/ U! c6 J7 }連國家都係問人借, 不停發債券, 印鈔票
) ~* r6 C0 @7 p5 ?6 ~4 ~" _  s' p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  n/ x4 J4 {; |- S- i  u
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.gif8 N( g3 ^5 I- n. {8 j! ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 f- Y9 h4 C' l9 [- |% T' Y9 ~其實係...
9 \8 c5 F2 r+ j! J6 z. W. n因為以前未生產, 先消費0 U  `% J  h" i
而家就要多生產, 少消費