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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  |8 p6 e  x9 G' m
Why bank will sell 借據給第三者???- U  m+ V/ V/ F! P
I was so confused.....

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講到尾都係賺錢
4 o+ s' k5 P5 T6 F7 iso銀行可以不斷放款
2 z- Y& l* l' F) H% t# K3 ?0 Y' p  l美國的房貸問題散佈到全世界
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4 y8 g& W; U% Bmortgage loan
: @, c8 J, y* ~' L, J1 Y& P- j( s>conduit1 }- H! e, B1 H' V* y7 ]* i; c
>RMBS(Residential Mortgage Backed Securities)
9 p6 v4 K. l: I% d) Q>arranger
, s3 r: J) m. z- x$ Y, J' ?>CDO(Collateralized Debt Obligation)/ N9 \0 D2 G1 T/ J
最後去到投資者

Kev

i thought it is the reason of rate of return.7 h' X& ~4 p* k5 x( N+ c. B
CDs could have different ratings, AAA -> F,  e- w; v7 w; g7 i8 ]; D
more risky ones would have higher premium (interest rate) as a compensation for an investment.4 e: ]( t& d" d1 R9 n; E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! a, t  t4 j7 P) s' a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, Z! ?) q* X: y* D$ B3 Y" cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 k) l. ^$ W0 ~( W# x' j
similar to bonds, CDs trading in the secondary market have different value at different times,
: }" i! E; T1 `% F  z; H& znormally the value is calculated by adding it's principle and interest.
) U9 F# m& n) O$ f4 g! l# Yeg. the value of the mortgage+the interests to be recieved in the future.
( |5 a/ ^7 w" b. l# ~' q  [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.9 c& z: L( ?, [; m" b: U7 u6 z

. Q0 @/ [9 H% r5 J1 c# ^" Lim not quite sure if the multiplier effect does really matter in this case.
4 ^6 `0 m8 J; d" Xin stock market, it's the demand and supply pushing the price up/downwards.  f) q4 r5 p/ i# ^$ L& F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; {0 i6 ?& Z6 d6 lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( X% N. d+ u. C7 aThe 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.
3 E  Z  n" Z- W! M: R6 Abut the value of their assets did really drop significantly./ f- o6 L, l$ w
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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
0 H2 Q, w! X0 o. T" Y# T  nRefer to last example," _4 b' m  E3 e8 ]
that means bank A have no money because we borrow 10 dollars from bank A ( k6 @0 s- M+ Z9 M
Because bank A doesnt have enough cash on hand & Z6 D5 s9 H# _& F
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: ?3 U* X, u- a: y4 ]: b% sso does it mean if E failed to pay D,
# Y/ q4 N. Y& W6 L5 E8 {all the B,C,D,E have to go bankrupt?6 {. {0 y* f: o) ^7 U& m& A" ]

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- P8 S  f) B! N9 g* ]the multiplier just tell how much money created in a whole economy, + E0 H' e% W5 Q9 e6 z6 f
in this case it doesnt really matter how much money is created,
$ S# k/ P& @$ o" a# kit's the problem of the debt itself.
1 p& \7 F2 z0 X+ M3 kthe 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; l2 {/ z7 [5 C* d4 m5 s% N
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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& _5 |. O3 k. V無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答! t3 [0 O$ o2 n5 }
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Thanks

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那些根本係 紙上財富  
" Z3 Y! m" }% a) l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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9 I9 W0 q) e3 d: b6 c! X7 Chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
2 {- R0 s$ D8 |5 S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 s* P- r/ l4 r& Q
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
0 E7 n! E+ U7 k$ M" r: I個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 u) i! ~6 J+ m/ j  P* G& C
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
- ~/ V8 I$ ?0 N% j, Y計番回報率就已經係50%,所以可以好好賺
" e- p& w/ V: e! z# X& \# k前提係銀行之間要互相信任先可以咁樣借法
) v, q! F- z* n% H8 N同埋個市場既前境要係好先得
6 t) j5 W3 g2 E' D但當經濟一差,公司估值趺了,物價不升反趺
1 b* k) o4 y! g! V& b: n例如剛才說10蚊的, 趺到得番9蚊, % F6 h6 T4 c2 P: V
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ f+ d+ D# q$ c( f8 {$ i所以你就會覺得D錢好似蒸發哂咁
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, ~4 U% X6 s2 |- ]( g, i你都可以當標野咁諗, 個樣野多人可以狂升值,
* x  i9 N# |& A0 `; l5 K4 b; X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,
9 A- e4 m% ?4 y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- t" |8 j6 p: R$ P! ?1 S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
  x- u: I' f- P6 H# q2 w0 j8 g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
" Z# O" M- ]/ C: M唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 I+ Y6 O$ r" D% U( D% L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 l3 }% Z- Q. a& W0 D; u
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) j4 q1 W, S# [9 ^
咁你話d錢蒸發左去邊? ...

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$ [1 B) V+ C7 {7 i! K, L0 A正係咁樣
/ w5 Y" J) w/ Z0 G+ D  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" z0 R0 I; y' j: i; D5 t& C
分分鐘佢地唔使還錢
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- x0 v9 i" \3 A0 _$ a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,6 m1 n) Y( h5 J8 p
連國家都係問人借, 不停發債券, 印鈔票
2 q: }0 h2 \' Y) t" h3 g/ A* V一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 W5 J% G* W# @: `2 [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
' h3 z% J; a6 o9 s$ \6 D" L: O咁而家"爆哂煲"算唔算先至係變番"正常"???

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* @$ q3 c/ Z6 y8 P. b其實係...3 E3 ]6 D% S# H6 n% ~
因為以前未生產, 先消費
7 v. g, S6 U/ r# |! w$ Z而家就要多生產, 少消費