0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: C/ ~8 C1 Y% O& d9 x" K9 k8 b* N9 lWhy bank will sell 借據給第三者???
& @, Z  R$ {  i; Y) ]I was so confused.....

1 S; R7 r4 D/ E) G0 g# n, |( M
7 B, _  h& A& s* T9 J% }2 \/ [. R5 p
講到尾都係賺錢
! W9 ^# b1 }( b& @* R- I3 lso銀行可以不斷放款
, G* X& X7 k( {/ D; s% k美國的房貸問題散佈到全世界) b) Y4 U8 [6 s
1 I% W1 [/ r6 W5 B5 l' j
mortgage loan 4 \2 j3 d& k1 M/ D# Y! u
>conduit
. @3 x2 g: y7 w. x$ R3 h>RMBS(Residential Mortgage Backed Securities)
0 X2 C. q" s$ |5 ~  a>arranger7 ?9 [: N: a, m
>CDO(Collateralized Debt Obligation)% p3 I; e4 _3 ^! P
最後去到投資者

Kev

i thought it is the reason of rate of return.
+ R. q- ~  Q$ a- ]; C  hCDs could have different ratings, AAA -> F,
" M" i8 \" M  ~0 Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.( Z% _6 j9 G# r5 M
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," |! n  k. q9 [* w) {, l8 T! o
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ a6 E6 }- I# \1 D# eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( S- Z. r- g( V. }; i# I4 g: }, U* N
similar to bonds, CDs trading in the secondary market have different value at different times,
5 U3 R+ k. U8 G# k4 H; R! cnormally the value is calculated by adding it's principle and interest. 5 b8 u/ Q; H6 O+ C
eg. the value of the mortgage+the interests to be recieved in the future.
' C$ H& l' f; ebanks 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.# d0 Y1 G1 n( Y

, a; u% `/ O; uim not quite sure if the multiplier effect does really matter in this case." r7 G: U" K$ I' a. {! O
in stock market, it's the demand and supply pushing the price up/downwards.
' t4 q+ F" |( S+ h3 I0 fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 D2 z7 z+ p! l, LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* ?8 @% F% @) G& {3 o1 k' m
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. 1 m, j& M! X9 R- {, @8 T) J* J& j
but the value of their assets did really drop significantly.. I0 \( Z$ I: T8 ^
# n5 f1 Z( G+ p7 [5 p5 ]
[ 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# g; `$ x- j) [/ v
Refer to last example,' ]6 V9 g2 J) \; C: ^2 |
that means bank A have no money because we borrow 10 dollars from bank A 0 q7 v# ?; |( H0 ]$ X* v0 \
Because bank A doesnt have enough cash on hand - Y' b6 |( y# L0 |' \/ F- Y  W
therefore bank A need to be bankrrupt ??? Am I right ?? ...

3 P6 d/ @* w& o8 G
5 A& s4 {7 I) ~, O
, p/ }0 O: P2 q+ [A->B->C->D->E+ G/ K$ ~/ Z  k+ p3 X+ J9 e  _9 k
so does it mean if E failed to pay D, % Y/ I: _' Y" K1 C( Q  U1 h- h
all the B,C,D,E have to go bankrupt?: W% G7 C( u0 ^9 t) @1 @1 t2 Q9 Y

. W9 E' r+ u% x/ d3 V0 d+ M5 V
- A( n6 v8 C+ ^; \+ Tthe multiplier just tell how much money created in a whole economy, ' X0 V; b8 s6 r# p5 A0 f3 o% U) ~
in this case it doesnt really matter how much money is created,
4 ~2 r: ]0 a6 t" pit's the problem of the debt itself.
8 p  |( [- X, W, \8 ]! M8 @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% n% M& K+ b( _/ _
小弟一直都唔明...- _6 F" V& y/ R: v1 q7 I
: b' {  c  Q, c) {$ `
全世界都蝕錢，咁邊個賺緊錢呢?* K1 a  r: m2 ]' C6 @4 x

! E7 F  f; E4 Q* j  ?# n' [無可能淨係有人蝕錢無人賺架嘛...( N' ?* C  f% @, {
. X5 X4 s' S( {( z& x+ R
敬請各師兄解答' U% u: E  g- z5 l
( x# J( Y# s+ G) A, p: `
Thanks

9 `4 p& V/ q! W' [
那些根本係 紙上財富  0 \  h% m/ \9 |
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$ g6 o* D; ^& Z4 R, A: `0 U6 o
3 j  q  I' J9 H8 |8 f4 z
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' D$ p* A2 s0 y. D( O) C5 @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% _$ l5 {' Z5 b3 Q0 k" h8 ?+ X
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$ Y( S% b' k. a! q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! Q0 S% C+ y' K: [* Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
- D- ]! i- U6 \/ n. I9 n計番回報率就已經係50%,所以可以好好賺$ Z  l. `* W& m( H% y
前提係銀行之間要互相信任先可以咁樣借法
3 {, S( N: n! x: c9 @$ N0 D同埋個市場既前境要係好先得
; D$ D  {$ U* Y% u, j但當經濟一差,公司估值趺了,物價不升反趺
6 k( ]# l7 r8 H例如剛才說10蚊的, 趺到得番9蚊,
# s* Q$ P# u. C7 q6 O: e咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% O; L+ v6 f' m- F5 ~
所以你就會覺得D錢好似蒸發哂咁! i2 L* y3 y+ i& j
: C2 Z# K+ f# A/ p: V; w$ @  T- p
你都可以當標野咁諗, 個樣野多人可以狂升值, $ T- X3 s. P0 I/ Z
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,
* E) u( v3 i5 _$ w. U& ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! m5 Y1 V- E& F8 u' _6 a$ `
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% ~# }9 L) ]4 s2 X) T7 n/ V
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
# x  M' ~3 l. |  ^唔係d錢蒸發, 而係比美國佬洗晒未來錢, ) F9 y: M2 Q6 n; z  D4 S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( {4 k$ N" _& U% Y" T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
. h" v. o" J6 g) |咁你話d錢蒸發左去邊? ...

/ l- N# }) k, _0 m% q2 E

9 I+ l, ?) B& N7 |! \6 P正係咁樣
3 _( T! C: j) j3 C1 ]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
- G  `  J+ r4 N2 G8 `1 \' J分分鐘佢地唔使還錢* f/ `. h# x1 y1 G3 w

6 N$ w9 Q* J4 T, H& E3 o8 O4 c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,; J  e) Z" [6 g/ I
連國家都係問人借, 不停發債券, 印鈔票3 \. i( m; f' M! x' I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, s) g4 T( ]& o& J) @" \+ P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.gif1 N% J1 D* H7 ?3 l. V6 w6 n
咁而家"爆哂煲"算唔算先至係變番"正常"???

3 ]3 U0 }& {4 t; f' \' e0 z
" P8 M: F& j1 |其實係...
# L, ]2 i3 R8 C  J: X因為以前未生產, 先消費+ w6 X+ T& z6 j
而家就要多生產, 少消費