0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' U* M1 h/ `2 \5 @  E3 R" S6 j
Why bank will sell 借據給第三者???% F' Z/ Q0 D8 m! F
I was so confused.....

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講到尾都係賺錢
0 l# O' ?: }/ s( s# Pso銀行可以不斷放款
" O$ d2 f0 _1 _! P2 \9 L+ C美國的房貸問題散佈到全世界4 J7 g6 j: a4 `* w1 z# ^, ?
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mortgage loan 7 O# H) p, @) w  r! Z8 m" \$ J
>conduit2 e; c6 Q; O" ~2 g
>RMBS(Residential Mortgage Backed Securities)7 |. t9 t* }& x) U8 l& k
>arranger
: Y& N9 F$ b0 `. ?* L>CDO(Collateralized Debt Obligation)
. z% k0 u, K9 D7 J最後去到投資者

Kev

i thought it is the reason of rate of return.6 z9 `3 q0 g/ V' p8 H
CDs could have different ratings, AAA -> F,
( f  s; v7 Q/ }+ |more risky ones would have higher premium (interest rate) as a compensation for an investment.
& e6 c8 V+ h$ q  G' Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; U6 c1 m! b( w' w, r) d8 Q0 p4 ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: h4 t/ b; c$ ?; N0 y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." ?0 H4 L4 R- K. t
similar to bonds, CDs trading in the secondary market have different value at different times,( f- ^0 h- G! V( a
normally the value is calculated by adding it's principle and interest. . F7 P1 K' c8 u2 H% J
eg. the value of the mortgage+the interests to be recieved in the future. ! h! G8 p0 V' T( }2 I8 y
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.. i7 G6 K; S( w4 i! [0 d9 m
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im not quite sure if the multiplier effect does really matter in this case.
5 j/ h2 }4 T0 g2 {5 I$ H3 q2 j. Zin stock market, it's the demand and supply pushing the price up/downwards.
  {' B3 M; Q* XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* a; l: A$ j$ v5 ], x- |& K
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 J: ?  i0 w1 |* ]2 R- DThe 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.
. R' k* d7 V( K. Ibut the value of their assets did really drop significantly.
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: C6 ]. M9 |1 T[ 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
6 D+ |4 H; S; W3 F% l% PRefer to last example,
0 z9 Q  V# C% H; g6 gthat means bank A have no money because we borrow 10 dollars from bank A 3 }; n. S) S7 X* I( F# E. E8 P; W
Because bank A doesnt have enough cash on hand , M" _8 @) W9 X# l8 t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 q9 j  t0 `+ w$ q& ~/ @5 aA->B->C->D->E
) \. H5 \6 \( v  ~so does it mean if E failed to pay D,
" o+ _5 x$ q. P9 `% ~" T& jall 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, 6 G# v- G+ W& |( `
in this case it doesnt really matter how much money is created,
9 W  ~. {: E; [, s! T- D4 l  git's the problem of the debt itself.
! T& k" ^* f" _0 u% @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.gif6 n; v6 y! P! m3 |% Q
小弟一直都唔明...
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6 H5 i4 l- i% N! P  c/ B3 }全世界都蝕錢，咁邊個賺緊錢呢?% |3 J( e9 Y; k+ [. g

* A% \8 }2 f3 \) w+ t) W無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答% o% m* J# L* L

& j2 x( U  x9 a- J4 R; }/ EThanks

' |- J2 o1 L0 W那些根本係 紙上財富  
" d5 L# t) T+ B6 Z5 H1 |8 f# M1 P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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fderek

其實個D錢係你可以當係虛擬資產
, h( i) g: f" Q4 z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) W5 k% {5 d9 ~5 y7 i$ O8 t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2 B& D% w" l! r; R
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ H  k, Z( z/ V9 I& v扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. N. L& `3 Y% ~( o  r/ L計番回報率就已經係50%,所以可以好好賺
8 ?! v5 w" A: `/ b" X" p前提係銀行之間要互相信任先可以咁樣借法9 \. r. W  H7 J& e2 p$ y: c, o* ]' g
同埋個市場既前境要係好先得7 I! P0 W  k, ~3 @. o
但當經濟一差,公司估值趺了,物價不升反趺
: F# [3 D% D9 r& `% c例如剛才說10蚊的, 趺到得番9蚊,
, E3 C7 v1 ?/ C8 f' w6 ?( F" e咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 k& ~8 A9 x. M: E6 P1 t% i所以你就會覺得D錢好似蒸發哂咁# e+ a  A/ ?5 y) i9 C
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你都可以當標野咁諗, 個樣野多人可以狂升值,
: W, w8 q; a* S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,
0 i# B) |' j& b/ W# l& ?7 z8 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 l' e7 m* t  ~8 }1 z" v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1 W& J% @! B+ |$ L6 Z! Z) l* R0 i
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
- O9 N4 [* u; N0 o5 }1 D" N唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# H1 h2 c; [9 e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . p4 |6 G5 ^6 ~: C- V- 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
8 F! ?/ o" ]# i$ y6 p咁你話d錢蒸發左去邊? ...

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7 m; u- X) Z( y/ h0 G正係咁樣; u- s% X* S2 X; X7 Z. L
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" J- m9 |3 @7 s; S# F. W% i
分分鐘佢地唔使還錢
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! p( x. G2 L- j( I& _1 I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,% N' Z0 X5 |; K( ]8 ?0 e, ~* W
連國家都係問人借, 不停發債券, 印鈔票" S* U7 X5 m' k1 W1 \" m
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 x& w0 s9 D: j9 @, e9 F6 ]/ 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% |0 A# u, w4 ]+ g
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...' S3 V- N$ f* B( ]' y% }" o5 t
因為以前未生產, 先消費+ M2 [* b% v& H0 k8 x3 c+ O, r
而家就要多生產, 少消費