0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; g; }7 p" K! B$ e2 l0 x& rWhy bank will sell 借據給第三者???
) N- m) Z* a! k4 m, wI was so confused.....

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9 W/ X/ S- j/ Y9 j講到尾都係賺錢
7 [3 ]7 v# M( D9 q/ n' zso銀行可以不斷放款
! e, p) f0 c3 U1 N! F美國的房貸問題散佈到全世界- A$ d7 W$ U( R4 P. s

" x6 o1 x  P1 C5 jmortgage loan
; j4 o! N! d4 \; z6 A, ]% g, j>conduit  m) N6 q- E: H( i3 b$ s* E" l* K/ R" w
>RMBS(Residential Mortgage Backed Securities)
4 l: G$ i& t: K& s* p; b>arranger# Y' x0 v* G, I+ \  h
>CDO(Collateralized Debt Obligation)- Y. g$ t7 b. z2 A4 ]
最後去到投資者

Kev

i thought it is the reason of rate of return.  v: `) J2 `( k* \
CDs could have different ratings, AAA -> F,
2 W5 O; q! `: r0 }/ W' A" _3 |1 qmore risky ones would have higher premium (interest rate) as a compensation for an investment.2 s6 W4 m$ d* V  [9 q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ V; ?, U# s! q2 E' Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.! }) g% ]" W) T) E/ B4 e3 z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 a8 w$ j, z% Y# j2 g2 psimilar to bonds, CDs trading in the secondary market have different value at different times,
) c! [; L8 c3 h) A8 bnormally the value is calculated by adding it's principle and interest. : b7 b- y# a$ I- X% U. t
eg. the value of the mortgage+the interests to be recieved in the future.
2 j" F5 x& a7 G4 t0 J# @. vbanks 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.  q0 C# H1 F9 @# x8 N8 z9 ]

  U9 M2 ]  A- p; G' {" f8 c% T& q6 Bim not quite sure if the multiplier effect does really matter in this case.- P/ c" D* A% d/ E& M6 d8 X/ a
in stock market, it's the demand and supply pushing the price up/downwards.
5 O) ?5 V, P. ?, X) @# B& g. LFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 b0 }8 s) b! \* Y/ ^A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- c) W4 i, L9 Z( K% W2 o: YThe 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. ! V  h0 u; Z  w/ R" u4 g) r
but the value of their assets did really drop significantly.8 x, C  m  M2 a

8 A- i& q8 N. R5 Y; J4 K  B( ?1 s, E% t; 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
8 X1 t7 m9 Q6 }8 A. lRefer to last example,& p- b' p. U1 n0 W5 o: g0 A3 o% S
that means bank A have no money because we borrow 10 dollars from bank A % u+ s8 s% E& F; X8 d
Because bank A doesnt have enough cash on hand
6 x/ s* U9 e- ]; H3 ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% @9 x* R) [2 \$ _+ _) k
so does it mean if E failed to pay D,
( O0 b1 p7 k4 j$ lall the B,C,D,E have to go bankrupt?- t  g/ y7 {+ ^7 k1 M( X

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the multiplier just tell how much money created in a whole economy,
/ J) r6 S( G7 G* E3 Z8 V. Rin this case it doesnt really matter how much money is created,
+ e( [. V9 _" s4 t7 I' }4 {: a! |it's the problem of the debt itself., o3 Y4 s/ E5 O, e2 i+ N! S% A
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
  I3 ~4 K7 l/ l: v& ]) q小弟一直都唔明...: X1 W# J  x5 R6 C* U- S

. q8 E( n: D2 R: Q全世界都蝕錢，咁邊個賺緊錢呢?
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9 t  R6 y, z: X" I% D9 e# E& y0 C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5 d' i+ u+ O3 r
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Thanks

  _  K8 H3 I3 k4 O那些根本係 紙上財富  0 D2 ^. x4 s+ W' C
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- n/ _% m- ]  b; c) X, T- G9 l% C$ M
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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6 y1 p. y- v) ~' P9 k+ B
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, z, N6 V7 Y( I% E- T4 o8 b
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; u  v6 T  [- }
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( S- Y9 t+ R0 X" V. Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 z6 W' x5 s7 F. \) _; A
計番回報率就已經係50%,所以可以好好賺
7 X( |6 W- E8 q' s+ M前提係銀行之間要互相信任先可以咁樣借法
5 a- c- v* {. u, f0 i  i  J同埋個市場既前境要係好先得
1 F1 E' y( b( K; F但當經濟一差,公司估值趺了,物價不升反趺6 K  j- V6 Z1 x$ U$ X! g
例如剛才說10蚊的, 趺到得番9蚊,
% G( R6 p8 Q% x6 h) e: q9 L咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# i7 _2 V4 \8 j所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,   n2 o0 y5 R+ c2 I
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, 5 H9 l. X' C, M' N. J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# X! \! ?; M* N+ S5 N# 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* ]7 a- C- D/ C2 E* c) K& g" H  @
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.gif1 i" O1 ~9 _* p$ d+ f
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 H0 D9 Z* v% {4 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ h" }$ D5 F+ D( g% X+ T2 E  [
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; L* p7 j6 N- ?& i! S4 B
咁你話d錢蒸發左去邊? ...

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+ q3 r9 I; p" F: H; V% i6 G& S# W正係咁樣
) v0 v( e/ ?6 g4 D. l3 X: R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
% H% n1 `! m6 J; A; ~# @分分鐘佢地唔使還錢
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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,; T4 e& S7 S, k" N
連國家都係問人借, 不停發債券, 印鈔票2 t4 p) }2 U! d! G+ O8 N; b  R
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 H9 j* c# O& p  w% O$ A$ z5 l  q
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
! @' {7 J- Z! M6 ?( Y& k咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
' b( X+ X8 A9 A因為以前未生產, 先消費3 l5 |; N) x. W1 R, l
而家就要多生產, 少消費