0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* ?; U9 Q# _1 J5 Z$ f5 f
Why bank will sell 借據給第三者???
) b( p* K. u  _, p6 SI was so confused.....

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講到尾都係賺錢4 a% d7 n; o( l
so銀行可以不斷放款4 g9 v+ x9 X/ p) x7 q1 e* C
美國的房貸問題散佈到全世界: L: f; P: o' K3 I& Z/ r7 Z
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mortgage loan - H7 G' p$ p# Y- H, g* ^3 g# z
>conduit1 Q  J4 Z8 A6 A
>RMBS(Residential Mortgage Backed Securities)" P5 l: V7 A; W* I8 Q/ E
>arranger
2 K% z, q8 }1 u8 M3 a>CDO(Collateralized Debt Obligation)
1 T. K7 G4 z( ?0 o最後去到投資者

Kev

i thought it is the reason of rate of return.' ]7 C) y% i* p) N7 t! a/ [4 r
CDs could have different ratings, AAA -> F,1 O# Y0 G  K* C) t
more risky ones would have higher premium (interest rate) as a compensation for an investment.. P( [/ F' Q( I! B7 k, v
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 ^+ N- J6 {, c; X/ pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 v" l( `) @3 G7 M) g& f* ]1 a8 tAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. Y" K$ B5 G4 i2 \# [9 z% Asimilar to bonds, CDs trading in the secondary market have different value at different times,! W4 L% w' W0 o+ M8 z8 W
normally the value is calculated by adding it's principle and interest.
0 ?+ D, g  l6 b& S) Veg. the value of the mortgage+the interests to be recieved in the future. 9 Q) k8 V5 C* K0 t, P8 F9 f; X) q( D2 v1 W
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.- d: J' J( }) {  |, y& o

8 W$ O8 i0 E7 y% \- Pim not quite sure if the multiplier effect does really matter in this case.; j5 L6 Q* N+ B* n' l# V
in stock market, it's the demand and supply pushing the price up/downwards.( e% C' k/ O9 d$ M9 q, ~! Y- k
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- D: Y7 _. O8 Z# m6 j- a2 r, D- {A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 O1 v& I. X% J1 }2 |9 }6 nThe 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.
4 G# r* a1 s# X0 F! cbut the value of their assets did really drop significantly.
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5 E( _% D! ]& l' h2 z- c[ 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: [! e' ]* D; i  }0 ]
Refer to last example,
: l1 z: L: y* ^- ^that means bank A have no money because we borrow 10 dollars from bank A
8 _+ \' f) P, l: Y" Z" L9 i+ N( jBecause bank A doesnt have enough cash on hand
2 ?1 M# S7 Z5 A5 I. L( `therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 N# Q4 `! N" ?. x& X$ ]" YA->B->C->D->E. x  o% A. n+ F8 j
so does it mean if E failed to pay D,   i+ W* j3 n: b. e$ j. q- X8 }
all the B,C,D,E have to go bankrupt?! w+ Y. N8 g' _
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( H9 [2 @3 v9 H) [5 [/ k7 othe multiplier just tell how much money created in a whole economy, 1 \# ]5 A% \, M  \" W- X
in this case it doesnt really matter how much money is created, * c; T4 u4 Y4 X% G& g: j
it's the problem of the debt itself.
# y' R5 j! R: m) E4 G; Nthe 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
; ?9 _* F2 \! v& _小弟一直都唔明...5 K* k( k& ^4 I, x- _- [+ G6 k
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全世界都蝕錢，咁邊個賺緊錢呢?
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0 J" N0 I7 v  p* w無可能淨係有人蝕錢無人賺架嘛...0 S' l3 O7 |, J" G% w. p8 y! o
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敬請各師兄解答5 e% |2 A, {0 J/ K

& N, d& i, }; Q9 N2 I. w$ lThanks

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那些根本係 紙上財富  5 q, c% D2 x. J7 W9 k$ p$ I7 }
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 graphic4 K- [, g: ]/ g) B/ n$ K
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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
! h/ V/ C+ O6 A& z+ I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 ]$ g6 n( e: ?; V
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
. K1 Z: y8 k( f, g個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ v) w- L, A! |5 y1 @2 a# D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ i' N: @2 m% w5 l# K
計番回報率就已經係50%,所以可以好好賺
7 a6 P0 D3 ~7 `8 ~  ~前提係銀行之間要互相信任先可以咁樣借法
& W1 |' K5 V! d$ _4 r. T同埋個市場既前境要係好先得+ D6 @, y7 `3 ^9 w! j% r" l
但當經濟一差,公司估值趺了,物價不升反趺4 @3 P5 @/ [+ l0 H0 n6 K/ K
例如剛才說10蚊的, 趺到得番9蚊, ! g4 I/ {1 f. H) v/ L3 e9 r0 ?
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 }2 d& R8 Z1 X6 _5 ?" ^4 V. V
所以你就會覺得D錢好似蒸發哂咁. N3 D: p  g3 T/ l' P: ]
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你都可以當標野咁諗, 個樣野多人可以狂升值,
) t0 A5 ]! |4 D5 V* ?# o2 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, 8 e1 s: m/ w; D) C5 H0 Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 [( T# V6 [% p% v! }3 \  s3 l' p: e1 H" \  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: T, m: o( u" Q' w! J3 U
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
/ @% R# |9 v5 c8 m唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ [$ T# P/ T$ m- _) a  k3 q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 X/ G! X- H5 E% ~0 `; 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
3 ~& P; z4 F. w咁你話d錢蒸發左去邊? ...

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! G+ E. Y! Y9 c' V. L5 ~  {正係咁樣
: q  w% b8 l0 M7 {9 J2 ^7 Q8 E, W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
# n/ }& B1 t* `1 U分分鐘佢地唔使還錢
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1 Y" ~& l% p' S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,: e8 c9 t3 D$ ?0 i+ Q6 k( b4 E. v* b
連國家都係問人借, 不停發債券, 印鈔票
3 I( C9 d+ m- u8 \  p+ w! X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 U# {) q6 t, r; A. L: H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.gif5 [5 b$ U7 }( ^6 M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& e4 y8 K3 l; t' N% g6 f! S因為以前未生產, 先消費
/ h3 W3 Y0 [& U. X( B而家就要多生產, 少消費