0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# W* D- P0 k' x9 m, d* h3 [# X
Why bank will sell 借據給第三者???
& n7 U# F1 U) T: U, cI was so confused.....

/ {/ d* H0 Z0 Z5 P( A7 Q% t) \

2 \6 L# l, p, [! k* c( s- M講到尾都係賺錢
# w8 T3 L5 W) l: M4 [: n( X' c/ Jso銀行可以不斷放款8 D. E3 D$ r7 _# y! K0 @) f
美國的房貸問題散佈到全世界
7 B6 d7 V, u' J5 O/ E2 |: O; M
( p% K0 {' i$ J/ @. gmortgage loan
% z0 |1 J) r- g>conduit
% X) P% w' Y, p8 b4 o& L1 n>RMBS(Residential Mortgage Backed Securities)0 R; J* P9 \3 ^' [7 U$ [0 ?
>arranger3 z% z# V; O( b9 O' B. W
>CDO(Collateralized Debt Obligation)
/ F5 W3 C' d9 m/ @" ?1 \/ K* ]% M最後去到投資者

Kev

i thought it is the reason of rate of return.7 S& n) W$ z  s, r# n$ w% b
CDs could have different ratings, AAA -> F,
% f. k  P2 r! V7 R* ^more risky ones would have higher premium (interest rate) as a compensation for an investment.! \; ~2 b2 V: l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* i+ z+ }: B) r! ^8 \) r8 i( zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 }2 P+ w2 i: ~& I7 p0 K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% u2 h- p1 n7 ]( ?9 y" y
similar to bonds, CDs trading in the secondary market have different value at different times,
% M2 a. P6 ~& d% K5 dnormally the value is calculated by adding it's principle and interest.
0 z9 E  O' K1 T4 A) k2 Yeg. the value of the mortgage+the interests to be recieved in the future.
* D; I7 }. E$ N- M! B% Qbanks 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.9 Q4 U* M5 k, B6 R  C

$ ?' R8 V) m4 u2 T! G) v7 t4 q6 [) Dim not quite sure if the multiplier effect does really matter in this case.+ d: i$ q  c) U' _/ ?
in stock market, it's the demand and supply pushing the price up/downwards.
" v1 S0 i, x8 G8 [3 {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 m2 W; [) D  i1 n3 m- t1 W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( v3 Q0 Q) ]1 r! R+ o' u
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.
  J! B, h% }) R( g+ q+ j! q$ K; \but the value of their assets did really drop significantly.
9 b2 f2 B$ E; d- V
3 p5 C8 k1 ^2 n+ s0 J2 L[ 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.gif0 l5 ?, W; p7 k/ u: t% Y, H( w
Refer to last example,8 D* c2 N/ l- {1 }8 k! U
that means bank A have no money because we borrow 10 dollars from bank A 4 g( U9 R- I; O( x( j9 @8 D2 B) q
Because bank A doesnt have enough cash on hand 5 c8 V3 ~; q0 c$ ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

6 }* N" e% [9 h8 R
  k, C* J. }; U

) I; W: `) `: NA->B->C->D->E4 k$ {) {- M4 P* I& S, O& u8 |
so does it mean if E failed to pay D,   G: O, X3 o4 r* A. X& Z! Z2 H
all the B,C,D,E have to go bankrupt?
; D$ y$ l* A) X9 d- V, Y; f% Q% k' E, f, {9 v! V: R+ q% P% P
! X# v$ J& ]$ S! w
the multiplier just tell how much money created in a whole economy,
9 \; A3 c9 j+ lin this case it doesnt really matter how much money is created, + V/ Y, m" [) g+ k* c/ f$ R
it's the problem of the debt itself.
" d8 v, ]+ @. Othe 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, D. l: ^, E  K/ Y; a
小弟一直都唔明..." [6 N7 t) D  N! k% W: G

8 |. i1 q, {) \4 U全世界都蝕錢，咁邊個賺緊錢呢?
% F  X* d# F5 p# t" t6 ]' B: v3 F+ t* w4 x5 B5 r; ^( |6 m/ I
無可能淨係有人蝕錢無人賺架嘛...
+ ^' i% ]) O, ?9 v. y; ]& O' F. l: L) J2 L; Y
敬請各師兄解答. ]8 ^: O5 W7 q
! I) j/ I/ Q. R  B( k
Thanks

2 U& ~. O2 e! C( H4 }. i, B
那些根本係 紙上財富  
3 I0 y# u" l  m1 k9 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 graphic- X$ }4 D" {9 L- V

, \4 u) [2 h' F) o% G& d3 d" w, Jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
, j# g, Z' r% C+ D- Q$ M# p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 m. B% W3 c; K! y6 }4 o; |: l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/ O( ~2 V& [  E8 R" j4 {: J2 X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( n4 L1 `" T' y! j4 l, l* d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' l4 O/ y3 s" D" }
計番回報率就已經係50%,所以可以好好賺
- _% D9 y# S3 o7 p前提係銀行之間要互相信任先可以咁樣借法
, M' p! Q% X+ O1 Z; I6 L8 D同埋個市場既前境要係好先得
* N( v7 Z& K$ C1 o1 F: X但當經濟一差,公司估值趺了,物價不升反趺
. J/ R3 S9 o" D& y# g: F例如剛才說10蚊的, 趺到得番9蚊,
1 ^, c$ c3 e" w8 h5 o' W) f咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( E/ h/ Q6 Q4 z' H9 d
所以你就會覺得D錢好似蒸發哂咁0 ~3 s' O( \0 ~# }4 v: j9 ]

% z% t6 b( M+ h  z; a' X, D你都可以當標野咁諗, 個樣野多人可以狂升值, + k6 B  k/ S0 u
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, , s) C3 l$ g' X9 f4 v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  R& g  i! x9 Y8 ~. O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 @) `" ~, D" d
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
# b# F; v, @: S' R唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 o; X0 K6 i$ }5 S# j7 p. S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; \3 ]. A( C% C* c2 ?  Z1 A8 j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
/ r$ z' e% u8 W+ a* u咁你話d錢蒸發左去邊? ...

& h  o& f  o. x$ h& ]$ S8 {- c
+ w0 ~" \# v; `+ J3 e! l" E' R
正係咁樣
0 w8 Z% }% _5 s$ |/ 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+ w; i" F9 N' T# I. ~
分分鐘佢地唔使還錢
/ J! r; S7 G- J4 e5 Q2 n4 a+ Y, A& i& x% _- p+ 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,5 K. M+ ?5 h+ w! A* V
連國家都係問人借, 不停發債券, 印鈔票! n# ?  C# s! R" q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ \; [5 `% `( K# s9 t/ Z# y
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 C# V' @" g9 V3 t- F, K# O1 w
咁而家"爆哂煲"算唔算先至係變番"正常"???

: \9 t: w( S& N% q+ F) P9 w( H( X/ c8 S6 E8 [
其實係...
. K' @0 k2 x7 L3 X" S8 z9 @! u- _因為以前未生產, 先消費8 c7 C# R. @  a8 n, ^1 }
而家就要多生產, 少消費