0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& y  I% L) G  N& U) e& b
Why bank will sell 借據給第三者???3 p/ \1 s# t  A" t/ J- W
I was so confused.....

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講到尾都係賺錢
  }& z7 a+ t! C! v4 Iso銀行可以不斷放款5 e7 V/ f7 x9 S6 @( k
美國的房貸問題散佈到全世界* H, I  Z4 K2 r* P& {: I; O
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mortgage loan , L' `0 |; ?$ X( W
>conduit
) {& e2 f& n8 {: w' A0 Z>RMBS(Residential Mortgage Backed Securities)
' L! `/ g" j' O/ l* b6 Q>arranger- E- Q1 r( [; ~& `
>CDO(Collateralized Debt Obligation)
) Q) R6 k+ k) u+ A最後去到投資者

Kev

i thought it is the reason of rate of return.  r. |* }" f. M. i1 L5 g0 w0 s6 Y. I
CDs could have different ratings, AAA -> F,
% u. u: A* A/ O4 A6 a$ ]" rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
4 e2 E+ N) I2 V$ {- i( l7 F- Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 [, H2 D' Y: C. j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 Z: O9 o8 F5 \2 Z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ {; f1 f0 |' h0 [) w7 ~
similar to bonds, CDs trading in the secondary market have different value at different times,' N7 P- ~. d9 ]. H8 t4 \: p
normally the value is calculated by adding it's principle and interest. + B! @8 y! R  _4 p/ Y) o
eg. the value of the mortgage+the interests to be recieved in the future.
& [; Y1 [" r7 W' `' wbanks 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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* K3 j; J; p. b7 I2 T  o3 c3 [im not quite sure if the multiplier effect does really matter in this case.8 h4 c9 w' n) w
in stock market, it's the demand and supply pushing the price up/downwards.
4 _: k; u7 G' L& N0 h! PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# G4 }4 C( Q$ o: F4 `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. n; h# A( ^2 L0 O  ~
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. ( v  F4 k% j& V  E
but the value of their assets did really drop significantly." n# N: o+ S+ w* H
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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
8 k: W  ]  G: U, N0 `# o: nRefer to last example,
% e/ Y. n% a2 O3 rthat means bank A have no money because we borrow 10 dollars from bank A
5 B) \1 R& o) J: {! Y: L0 T. H5 `Because bank A doesnt have enough cash on hand 0 D, \. O- x4 ~# i5 F% N
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' g( T' u" J8 e% Q1 K) Cso does it mean if E failed to pay D, ' X8 c0 \5 S& M  O; H% Q& W
all 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,
7 R0 w5 j6 Z! Z3 [8 R, Min this case it doesnt really matter how much money is created,
* {9 d8 {7 L  r" q( ^! Z, n! N) bit's the problem of the debt itself.
; s, d7 T2 k! p5 e* o! uthe 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
( ~% }. R/ A$ U0 g, s2 G. ?小弟一直都唔明...* [! P+ V$ Q6 l. S- N1 q5 m0 ^7 Y) v% J& R

6 b3 K/ v- @2 ]5 {" v# p全世界都蝕錢，咁邊個賺緊錢呢?
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) U% C/ t9 u& c* S0 r( l無可能淨係有人蝕錢無人賺架嘛...  e- T; v/ p- ~/ t

. D' K  w9 F5 z( W敬請各師兄解答/ K$ C! C- }5 _$ _

6 w0 Q% Q* W0 S1 P; ]% G! jThanks

+ n% L6 ?7 c4 n, y" H那些根本係 紙上財富  
0 y! u+ X1 J* w/ {7 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
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: Z8 g* ?5 u7 F" g6 O5 Ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! l9 W2 X% y) p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ e) F0 p" ], ~2 N) m5 c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: O: D- S  ~  h: J8 M9 ^
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" o) l& p9 U# k% M" \5 q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 _0 `: t9 A' x
計番回報率就已經係50%,所以可以好好賺9 h& \+ B  f- \, f- m; ~# H
前提係銀行之間要互相信任先可以咁樣借法
% |  ]' ^+ e/ A0 Q. ?$ ^' J同埋個市場既前境要係好先得( e7 z( w- Z2 K- ^! `1 K
但當經濟一差,公司估值趺了,物價不升反趺0 Y  M- Y8 M/ F
例如剛才說10蚊的, 趺到得番9蚊,
0 c- J2 }. Y  N' E/ W: l咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  T" @( [- l7 l
所以你就會覺得D錢好似蒸發哂咁8 S2 W9 y: @1 K$ w5 G* n
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你都可以當標野咁諗, 個樣野多人可以狂升值,
% d4 k2 O% T* q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, 6 o% w1 [- T7 e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . Z+ o5 z7 j7 Q7 k$ b
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" b0 {2 ?5 |$ |9 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
0 x$ [( I; I% E. J' n7 @唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 G' f, M) U7 p% b3 `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# l% Z! e1 J4 a* X  Z8 m' `/ _9 R" 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# e4 D( W1 y/ p+ ~9 Z  W# C, Q
咁你話d錢蒸發左去邊? ...

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正係咁樣2 O0 d  H( }! t  `- V
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; {8 w$ D3 a! J
分分鐘佢地唔使還錢7 d4 D( e; g% w3 R0 ]
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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,
  Y2 ], M4 n: s4 p, n# [4 O: e5 N連國家都係問人借, 不停發債券, 印鈔票
( Q, q+ c# B* q3 E' R# G* J1 ~一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: R1 W  Z$ @' A7 h3 z& L" |
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$ ]! @/ J/ e+ f
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% p8 Y  y# N( I/ s' G& c6 C其實係...- w6 m! \0 M7 M# b
因為以前未生產, 先消費
+ B; b6 o% ^, ~. U( q% ~而家就要多生產, 少消費