0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 I) G. e6 S& T$ e' n  `+ P
Why bank will sell 借據給第三者???
  Y) w, g8 B; [1 @I was so confused.....

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講到尾都係賺錢
4 @8 R$ `2 E" |# rso銀行可以不斷放款& `$ T, y" S" T* q6 W5 F6 x
美國的房貸問題散佈到全世界
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mortgage loan 8 u. c7 |# O: H
>conduit
. y( a* `; D5 s% O, u6 m9 q2 z* f>RMBS(Residential Mortgage Backed Securities)* A  \3 l$ L) m# R; _2 s
>arranger$ S# m; w) t+ H" P; K. G
>CDO(Collateralized Debt Obligation)7 H( o( F1 ~- B5 s' H
最後去到投資者

Kev

i thought it is the reason of rate of return.( P7 [4 U) U- |, T' T1 n
CDs could have different ratings, AAA -> F,- U) l, X) t4 n) K  ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 b$ i0 ]0 K& v7 e8 V/ e# p, h; h* cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: f% B) r& I) N) y+ [! ?
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ V) O. M+ Y5 B' C" m: eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 U: d! H( p; [2 l* h8 O
similar to bonds, CDs trading in the secondary market have different value at different times,
1 Y+ k$ \' P* N- qnormally the value is calculated by adding it's principle and interest. 9 f' i) [' o6 j/ u8 q6 S
eg. the value of the mortgage+the interests to be recieved in the future. 8 w6 C8 s: ~! I9 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.
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im not quite sure if the multiplier effect does really matter in this case.$ R! a/ b$ ~. F2 E
in stock market, it's the demand and supply pushing the price up/downwards., {2 f% l" N" r. T1 s
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
2 \% P# M& @; Q' TA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 @) q, n8 K7 K0 h
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.
- [# k9 [3 @. z! ~* J, g4 {, d1 gbut the value of their assets did really drop significantly.! K' C: G4 m  }: ^) F0 o

4 i0 k- G+ Q  q8 d) n( ?* K1 h[ 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' K; c8 p) [3 J% A6 N8 `8 Q0 u
Refer to last example,3 ]5 c" H( u  c1 F! G( B
that means bank A have no money because we borrow 10 dollars from bank A
; L8 m5 y8 g8 M/ pBecause bank A doesnt have enough cash on hand
1 Y: y1 y' q7 Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
9 \+ W- x) T& z. Sso does it mean if E failed to pay D,
' j% V% B# Y* T+ j0 Y8 Dall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, , j% t7 T' e  j' S7 Q% L# }
in this case it doesnt really matter how much money is created,
6 l# G8 t9 N7 m0 w! @1 pit's the problem of the debt itself.5 O- ~  _8 T4 X! x
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.gif0 r. s) F1 E% p  K0 S6 U% q
小弟一直都唔明...# Q' v# x- ^! K+ z
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全世界都蝕錢，咁邊個賺緊錢呢?. v+ L, _3 A% J% ?# x$ s* a: X! l
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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
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2 d3 [" T# y5 e. A4 P7 L# t# GThanks

, h- @, f" n7 a4 @( I0 D5 S! N6 H那些根本係 紙上財富  
- L' O/ n" ^; [$ [; [8 G0 g3 v, B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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* ]+ w6 s' v9 J# shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產7 g8 |" y" m5 ~6 ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! O, Q) N0 `8 \1 Q. {$ Q2 _8 t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
: g' F' J" [0 `2 n  G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- L- ?6 u/ v0 }5 Y- l扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* {$ D/ j  r* B
計番回報率就已經係50%,所以可以好好賺
) u. Q5 [7 b9 U9 z* U3 t! T" ^* j9 g前提係銀行之間要互相信任先可以咁樣借法4 ]1 P" @, G, [* H, |/ N
同埋個市場既前境要係好先得) M/ G+ j9 F* g0 j% ?
但當經濟一差,公司估值趺了,物價不升反趺& p- e# g# T1 q+ w
例如剛才說10蚊的, 趺到得番9蚊, 7 q1 t0 b, a) A* f% ~/ t
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( m4 W0 g; [2 i! Z# z8 o所以你就會覺得D錢好似蒸發哂咁, j- w: l& A, c7 P5 \

0 n! A% w6 n; c1 Z# \- Y) ]2 v你都可以當標野咁諗, 個樣野多人可以狂升值,
7 O5 |6 S3 N3 a' _$ h$ o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, ! x8 u% u' L2 e- y. R8 o, m# m! S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 Z) \  u! W5 O- T6 |/ G  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
1 E& |+ Q7 c+ b9 ^% L% s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
4 l8 s6 b- J8 a9 a: O- [唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! ~' U& f' r. B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : n4 `1 u! o" p6 M
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
  U) X3 `. {0 Q7 u; ^咁你話d錢蒸發左去邊? ...

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正係咁樣
& H. [+ t* d6 ?( _5 w: I: y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
7 P- Y4 R1 ]- q5 E7 A分分鐘佢地唔使還錢& z6 n2 \. ~) e1 `4 ~+ o. F
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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,% u1 D% p6 J. ]" f
連國家都係問人借, 不停發債券, 印鈔票2 V$ v3 P2 b9 ], M  g" d1 k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! ^5 J! E& \/ S1 H% |2 Q
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 D+ D3 s! s! Y8 ^$ l3 B5 r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...( Z: w; u: ^4 i0 H5 x
因為以前未生產, 先消費7 ]/ Z( n0 z% N" V+ h
而家就要多生產, 少消費