0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  X" ?7 w+ Z' K4 X  X; P/ r( g
Why bank will sell 借據給第三者???0 }$ P4 A! l  o% A8 Z5 D" G) }& T
I was so confused.....

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講到尾都係賺錢
& F2 V) U( G/ Q# M! B* x7 yso銀行可以不斷放款
3 H& v1 R) I  x美國的房貸問題散佈到全世界! d! t. ~4 Z, |4 ]) w5 @

  C+ q) {  X/ J- C  U3 Qmortgage loan
' T+ i2 ?0 Y! V! g& l$ [  N>conduit8 N; o9 a: s* s( M5 b; |) A! i
>RMBS(Residential Mortgage Backed Securities)+ |$ W3 Z8 r' g8 E5 ?3 P5 \. c
>arranger0 O5 ^, j1 o$ O9 _3 {2 u
>CDO(Collateralized Debt Obligation)
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Kev

i thought it is the reason of rate of return.. s8 V6 l( y; S* A) ~6 V6 R+ s9 x1 D
CDs could have different ratings, AAA -> F,
" a- k) R/ G& j& w) L+ jmore risky ones would have higher premium (interest rate) as a compensation for an investment.
# S; b' A2 H( }' A' pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, Q1 w. q( r! j$ W4 k7 Vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 e6 d5 Q  o- f, kAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& F, m1 X1 j7 Q  ?
similar to bonds, CDs trading in the secondary market have different value at different times,! z0 ~7 {1 I7 s2 N  F
normally the value is calculated by adding it's principle and interest. - K! v4 S# G" r4 F9 J
eg. the value of the mortgage+the interests to be recieved in the future. 4 P' J* F! S* v% o# o0 J
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.+ q* K+ _$ p: a' L" Q

1 d1 V* K7 A  e8 a: n2 sim not quite sure if the multiplier effect does really matter in this case.
, e+ o. x' ]  ?- I% n  }7 Y' b1 T4 Min stock market, it's the demand and supply pushing the price up/downwards.
' o/ w4 W9 ~/ h: I' H( H# ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 P# e, i$ S  Y, T  ~A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 ^) v$ L# B9 ~1 ^& E7 ~The 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. ! I- H/ l9 B0 _5 U
but the value of their assets did really drop significantly.0 o2 r0 j5 ~" w5 p% \8 O3 R% x6 z- E9 k
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[ 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
$ m6 {0 k$ x0 G6 y" u* ERefer to last example,
  D9 N+ z3 Z& P2 N$ G" g, X" Nthat means bank A have no money because we borrow 10 dollars from bank A * a, q+ B, Q# |' `) U. v
Because bank A doesnt have enough cash on hand
' {& Z$ O  g7 dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
0 M( v8 h2 h" u, l+ g  ?( p2 sso does it mean if E failed to pay D,
, O! c3 x* h% q0 y$ qall the B,C,D,E have to go bankrupt?) d% }" n( ~% d! _# Q: |8 v9 a
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the multiplier just tell how much money created in a whole economy,
# B+ {1 F" Y$ j, Q% Pin this case it doesnt really matter how much money is created, ; n" }8 L# @0 t2 \. ?3 A+ r
it's the problem of the debt itself.
, O' O3 b2 H6 ~; |% A* [# Zthe 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
  Q9 u, |3 t5 ?+ P, s2 U小弟一直都唔明...0 @. Q7 U9 ?& t4 g3 Y6 O7 Q" @  W
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全世界都蝕錢，咁邊個賺緊錢呢?
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2 K- H% j2 _3 O  E無可能淨係有人蝕錢無人賺架嘛...& j/ I# P4 u- z: N" x

$ ?. c; s3 {" M3 Q/ C$ I# q: h敬請各師兄解答* m9 }5 G% u% T+ ^8 V3 q. g
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Thanks

; b- ]' n2 }7 ~+ K" ~那些根本係 紙上財富  
2 ?# v" {  a8 T" o* |  A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# |: W2 g! n2 V

# J* V) S" B. n. m1 z1 Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產5 B% a3 E. ?" Y: o+ V* k
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ ]  W& A1 Y' s6 |" A/ s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
) j8 f' o/ j( _- K" Y0 a$ f! c個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- H5 y8 s) M) a! f" M6 E/ q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 N7 e  w: b! u# H7 |" L9 |; r. o
計番回報率就已經係50%,所以可以好好賺- Q, o' z# F0 g! U
前提係銀行之間要互相信任先可以咁樣借法3 ?! X% \7 X2 g+ L* J/ _9 W
同埋個市場既前境要係好先得! P- o1 g' R6 [# y$ \8 p
但當經濟一差,公司估值趺了,物價不升反趺& g* X! {$ n& T- ?) j
例如剛才說10蚊的, 趺到得番9蚊,
- k. y( p6 I0 C3 q3 |6 w8 {# a咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 j: j' J. u: R, _, {# g
所以你就會覺得D錢好似蒸發哂咁+ Z! j# Y' ]% @- N3 \; H* b

0 b! S/ }! `  D- v5 `2 _, g' |0 D+ Y" n你都可以當標野咁諗, 個樣野多人可以狂升值,
  _0 _# ]; q# Y) F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, 1 T  y8 H' }$ k8 X# ^# f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' Y5 Q; T: T& z/ T$ M! R
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( Z" h; ~8 n1 _4 L, t0 ], \6 _; 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.gif7 K! `. e5 m" b5 b/ M: V
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 J3 K5 ]) K5 l1 ^8 G- Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . m4 ]7 X" r. I( a1 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, M5 s4 |' H$ g4 F% h
咁你話d錢蒸發左去邊? ...

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正係咁樣
' L5 d2 j0 p. _5 `% S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. {* e! H7 G0 \1 ]/ ~0 P- Y0 ~
分分鐘佢地唔使還錢" ^9 P4 M( j! F3 u# a- ]
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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,
- I" X' X! Q: U! m9 m( O% {, |連國家都係問人借, 不停發債券, 印鈔票
9 \3 ^! F4 y0 }6 _4 i9 M0 p8 @6 ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' s0 q" \$ v# F+ x$ ]) i
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: A0 @% m; v2 V! m" M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ N9 H2 S$ Q: v& O
因為以前未生產, 先消費3 x/ E" Y* g7 q% Z: l  E0 o* w
而家就要多生產, 少消費