0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 I/ N& `5 {* A# p
Why bank will sell 借據給第三者???
6 |. X# Z1 x" Y, Y2 FI was so confused.....

& E7 j0 E" l8 |; Z! g. T9 U6 W. G4 L! G2 I! @
講到尾都係賺錢
0 h' s7 f+ D- P2 {3 E/ Aso銀行可以不斷放款
& q. q6 d  ?. h; H1 _( f- |2 D美國的房貸問題散佈到全世界
. A: G% Y* @; o7 I9 a" q& `  }; z% L2 a5 s) |" e
mortgage loan ( L- q1 L  Q2 v2 t& p4 m( `
>conduit4 M0 L6 H( H+ }
>RMBS(Residential Mortgage Backed Securities); ^, |+ t: m9 w
>arranger
. m$ O0 o/ \  {% K3 O$ L>CDO(Collateralized Debt Obligation)
# B& E8 _/ F* P% O5 L最後去到投資者

Kev

i thought it is the reason of rate of return.5 g3 B5 \' E2 A
CDs could have different ratings, AAA -> F,
8 W1 j* }! f/ k. o% Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
% w; G  {6 v5 R+ C7 I4 d1 q) Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( z4 ~& r# k0 y% hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 ]# `$ I7 `, X9 L1 A3 ?% _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& d+ M9 H' p' Jsimilar to bonds, CDs trading in the secondary market have different value at different times,
. s( }: X/ G/ @& N- Znormally the value is calculated by adding it's principle and interest.
. g+ _7 K8 ^0 ?3 Y- V; Aeg. the value of the mortgage+the interests to be recieved in the future.
8 c# q7 k' d  D1 q1 N' R1 d- T, {- ibanks 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.5 m% F* ?) A- J
6 X% i. A( \$ Y9 W
im not quite sure if the multiplier effect does really matter in this case.; J2 u/ h5 E# R: X' M7 K
in stock market, it's the demand and supply pushing the price up/downwards.
& Y' a$ B  Q7 s9 b  u5 C! K( wFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, f; _6 B2 W0 LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 X1 q$ B0 O% t6 v
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. # y$ `1 v9 R8 }3 B) Y7 `
but the value of their assets did really drop significantly.
- H# N/ O' J/ G( S' V5 S0 I6 T3 T; N0 g$ i/ p2 v
[ 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
1 s* N3 x5 v8 {2 s6 kRefer to last example,. v" |8 ^' i, {" e2 w2 [
that means bank A have no money because we borrow 10 dollars from bank A ( S0 H9 Y5 O& w7 V: [. I
Because bank A doesnt have enough cash on hand ' D; y4 f# T4 Q8 s3 q4 I
therefore bank A need to be bankrrupt ??? Am I right ?? ...

$ F- y, ]* X: U' E% W
5 j% G$ ~8 S3 w/ N' B& W' D2 h) O' m' t. X, y
A->B->C->D->E
4 X' q1 f3 ]( d# B: f  A' ]so does it mean if E failed to pay D,
  J* m) l+ A- Z) mall the B,C,D,E have to go bankrupt?
  t3 F6 n, _2 g7 B) d. ^* J- d$ o: r: A9 s7 n- H9 g

. K7 D& O4 Q# v/ o. H( G/ x- dthe multiplier just tell how much money created in a whole economy, ! w  a* d# \2 r+ K# p& o
in this case it doesnt really matter how much money is created,
" v6 y! S5 ]( q7 u4 \it's the problem of the debt itself.
+ ]' G4 K* I- i, D. F9 rthe 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
7 W- X4 A" D2 A+ a$ h8 f/ q# ]5 J) W小弟一直都唔明...1 a. \7 T2 `2 r
: \$ N  w) L$ f; \0 q
全世界都蝕錢，咁邊個賺緊錢呢?
9 y  k/ S" j. i9 {8 w$ Q+ _
- _, H+ @* k7 h! V  l4 X( v) H9 \$ f無可能淨係有人蝕錢無人賺架嘛...
/ b4 I# i3 \2 V8 a& Q: n. M( l& e: S4 D2 i
敬請各師兄解答
; y% _+ p# ~0 \# @( y8 |3 {0 w
Thanks

+ X) a. I) p1 Y( M1 A  v- C3 k那些根本係 紙上財富  
: t3 N8 k; x  {  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
* `  K" u/ ^# q& D# z+ }% ^! S+ {) d' q
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4 q# r0 ^  E4 D: f: V
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 r* `( @/ D6 P! r6 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4 Q& A3 K. @5 {# q" Q6 n/ i7 t
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ K* e: e' X, B$ J9 o# X3 ^扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ c0 Z7 g/ H6 x. R計番回報率就已經係50%,所以可以好好賺
. N# r) f5 m, @3 T! s前提係銀行之間要互相信任先可以咁樣借法
: H% d/ L! E7 l% {  h  B同埋個市場既前境要係好先得
, M4 O8 ]0 t( I6 }2 `+ X但當經濟一差,公司估值趺了,物價不升反趺  P6 P, f" @! L8 _* i/ C. D
例如剛才說10蚊的, 趺到得番9蚊, * W& i, y( R* O6 V
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; w" r8 I6 s1 Y: g- l所以你就會覺得D錢好似蒸發哂咁
5 ?! N1 j7 }5 o5 J! x8 b! K. ?3 H" U6 i0 {
你都可以當標野咁諗, 個樣野多人可以狂升值,
$ u6 g' g& k* ~+ K1 M9 X& @4 M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, 3 M8 ]- b9 X$ K, u* S9 L4 P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 U6 w" b, u3 ^* z/ F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
: b6 Z/ y* ]6 ^9 T4 x/ ]7 O  ?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
& w3 |3 @9 \( o) A) e1 L( ~2 i: @唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% l; |2 N0 [3 E6 J- T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 i) p8 I2 t- B6 Z; i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: a7 L0 r" z/ d
咁你話d錢蒸發左去邊? ...

: v5 z, y+ L- Y6 w
9 ~) I& Q6 `: j$ V! x7 [" i0 \
正係咁樣
( Z1 Y) ~3 Q9 B8 j: c7 A8 y4 ]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) t' ^6 D4 Y" [! U
分分鐘佢地唔使還錢) [; @# N6 F, [' }5 v9 X9 k
6 ~4 C8 f  m4 C/ `( I
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* @+ M9 {$ N4 b' ]' `$ h
連國家都係問人借, 不停發債券, 印鈔票+ b/ V3 `1 y6 O/ I" J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 R2 `2 [8 k5 X1 j; Y2 H$ F
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
2 X7 a) F. w+ H咁而家"爆哂煲"算唔算先至係變番"正常"???

9 O5 B- W# R5 S% ~, y/ F

4 a! c) @+ q5 `3 A2 C( v# m" L4 V, i其實係.../ t: i" W) J8 S3 D
因為以前未生產, 先消費
4 E: q+ N2 J' o% o% J/ b+ N, |而家就要多生產, 少消費