0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 o  T1 M5 N) Z* R& `
Why bank will sell 借據給第三者???
9 d) l8 G  }8 f9 G' II was so confused.....

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5 }( s) g( L" U. Z1 P; [  |講到尾都係賺錢
' h. v3 P4 a3 L% Z: f: sso銀行可以不斷放款: h: Y+ x/ s1 Z# \" M( Q1 H" F; V
美國的房貸問題散佈到全世界
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6 R3 `% g) t3 p' K9 G( [7 q) p7 Wmortgage loan
2 ~5 U8 O$ P% v/ T' {) o$ O, [9 l7 p  V>conduit
4 e( y' R7 R4 O; E# B+ a! a>RMBS(Residential Mortgage Backed Securities)
" I' g4 s$ O' i0 z3 y/ S+ D2 @' ~>arranger: z$ O1 [3 K% @7 `$ f' _
>CDO(Collateralized Debt Obligation)/ G: W% O7 G7 L8 o- y$ s$ w7 j& [
最後去到投資者

Kev

i thought it is the reason of rate of return.( y- v# R! c3 K3 N& W& E+ _
CDs could have different ratings, AAA -> F,
8 y- e# n- V5 Ymore risky ones would have higher premium (interest rate) as a compensation for an investment.
3 C5 |4 e( X. |2 Y) X3 A; jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- u6 `2 `5 |; L3 d6 n+ p
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- [2 _$ n! O) e7 k/ @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 j! n; m! F/ J
similar to bonds, CDs trading in the secondary market have different value at different times,9 F4 n3 b$ M0 Q* _, w) ~2 p- R
normally the value is calculated by adding it's principle and interest.
- P6 U0 K  s- N5 t" m- S% ceg. the value of the mortgage+the interests to be recieved in the future. , Y3 y5 ?- f" N. W3 Y( G
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.
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im not quite sure if the multiplier effect does really matter in this case.
! {* b! y' I2 o8 k/ Min stock market, it's the demand and supply pushing the price up/downwards.
7 X5 ~( L! c' s5 M8 TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, a; Z8 V: W. i) j3 |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 s0 a( b: c3 E4 o( TThe 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.
& n2 y0 t  Y4 ebut the value of their assets did really drop significantly.8 P: _4 o! C* K! |8 |9 _$ W

: ?1 \& Q! h, ~2 R: l" S9 _[ 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
# U6 a7 J1 F, p  |) J. s! BRefer to last example,5 w4 l. F( I+ V, o: ]
that means bank A have no money because we borrow 10 dollars from bank A / m% n6 C, A8 s, ^7 W/ l" v1 I, r
Because bank A doesnt have enough cash on hand
* L0 a- _8 s/ J6 i+ |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% b* J# \6 N) F. j/ pA->B->C->D->E
1 J3 M' m3 `  w7 `7 @* iso does it mean if E failed to pay D, 9 O0 j# h3 N2 n3 K
all the B,C,D,E have to go bankrupt?2 c+ B7 d9 y) ?% Z/ b: Z
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the multiplier just tell how much money created in a whole economy, $ H2 i0 p* Q, U. a8 j
in this case it doesnt really matter how much money is created,
! G& N; z* |: @- {! Rit's the problem of the debt itself.
6 C# Z) G3 f) B, f' z6 s3 {- l; U+ }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.gif4 b7 g, ~3 ^# Z) n  t8 _% w# h6 n$ h
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 p' \  N) U( o$ ~" L無可能淨係有人蝕錢無人賺架嘛...
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7 ^1 S3 N# H1 V3 `& e% ?2 Z敬請各師兄解答0 a9 U$ Z& @1 L  R

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& T# F* [- ?4 U: }, S那些根本係 紙上財富  
* Y+ k! h7 ?. q1 v. p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 graphic7 [& u5 E5 H# ?8 K

# {: _- q$ s' Z9 U4 ~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
( a5 u9 M+ H' g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- p$ R% B2 F" {! H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
( V' v0 g2 e2 `, _2 o4 m8 K個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* Y6 L8 M- {/ y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 ~0 d& T8 S/ h2 H' g計番回報率就已經係50%,所以可以好好賺
; K: q/ \3 {6 I! s& P5 E前提係銀行之間要互相信任先可以咁樣借法
( V) q2 k; B1 H+ M# R7 A# N同埋個市場既前境要係好先得
' m6 g" R! b+ X3 S8 m但當經濟一差,公司估值趺了,物價不升反趺
" J+ ?# y& o. H例如剛才說10蚊的, 趺到得番9蚊, , K% \4 ]$ L2 c4 X3 ^
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 m1 ^% B3 Y; w+ l/ ^" w所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, . i3 ^% G5 j- U; b2 S. w
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,
' z: z: y) H0 r$ M/ E0 ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 j1 z) u. `% U8 p  ]
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
! V) S4 U8 u3 s$ K2 [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( Y2 ?6 K8 O' y
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: v- x* c) e7 @( {7 I9 D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . f( v' d. F6 T7 |
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: M/ K: ?9 ]1 a5 N
咁你話d錢蒸發左去邊? ...

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正係咁樣
( Q6 Y7 P  {& @# B- S( c, 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
3 G* `/ p$ s5 o+ y/ B& o0 f分分鐘佢地唔使還錢
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; A% M) }8 N" O9 Q8 d7 \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,  ?* p6 u/ \; U% }8 _! x
連國家都係問人借, 不停發債券, 印鈔票
7 `$ l5 v, e  W: l7 e/ H. ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- X/ G" n3 [, [
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
* S5 ^8 H. s9 }9 {' N- d' v咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
5 l" S9 O( N2 q' s: D/ \8 H  }因為以前未生產, 先消費0 y4 o3 |5 T& l9 F
而家就要多生產, 少消費