0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 l( U" U5 Q" |
Why bank will sell 借據給第三者???
( p0 J) G9 D2 I3 F% ]2 SI was so confused.....

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: O5 w# {9 l1 L( l2 t( I2 w講到尾都係賺錢6 y5 A1 x5 t: m; V! h9 z' d
so銀行可以不斷放款1 p. d  T8 ?& B. N# L) P4 u
美國的房貸問題散佈到全世界4 c5 a, V+ O+ |! F5 a- e
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mortgage loan ; Z* u% V2 ^7 X; B( r4 D
>conduit
; G; e- N3 v; C; E3 y) v) Y>RMBS(Residential Mortgage Backed Securities)3 `, f# g) R2 S! ?3 I/ y
>arranger
. _- r9 ^3 F% L6 _>CDO(Collateralized Debt Obligation)6 C' I- P8 s, u2 P7 D7 L2 ^
最後去到投資者

Kev

i thought it is the reason of rate of return.5 |8 k5 W9 V" |: _* C9 l
CDs could have different ratings, AAA -> F,
3 m4 @* a8 `5 y, u5 p% u9 J5 emore risky ones would have higher premium (interest rate) as a compensation for an investment.
  R- x. p4 @* z) c( {; @main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, ~( H9 h, `# F8 Q4 Z# k5 gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: ?5 f; k" ]$ G7 HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ Z# T$ d% h3 e8 o9 qsimilar to bonds, CDs trading in the secondary market have different value at different times,
8 |  w* a0 \+ N0 @normally the value is calculated by adding it's principle and interest. # h# O; O5 c% h  A' d0 j& K
eg. the value of the mortgage+the interests to be recieved in the future.
4 C/ E, y- e4 i7 Pbanks 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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" ?  W( |" Z: z. Jim not quite sure if the multiplier effect does really matter in this case.
$ n1 _; X8 i* G! Q1 A/ T! ?in stock market, it's the demand and supply pushing the price up/downwards.
5 J) t' |/ e: u6 D, |# Q8 y* qFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; d, V- O( ]! A6 [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) j( c1 Z, y, v& N! X+ lThe 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. : I/ G( v6 G) [+ ?& Y
but the value of their assets did really drop significantly.
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6 W' x0 q# S3 P* t* s) ^% W[ 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
; w. L5 @  U9 L2 Y4 {9 lRefer to last example,2 q6 J6 s4 \  g$ u4 P9 z
that means bank A have no money because we borrow 10 dollars from bank A
9 [6 J4 B* O' H- y" ABecause bank A doesnt have enough cash on hand
" m4 k& F+ s+ A0 m- Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 ^( G  ~* X: E0 dA->B->C->D->E! a8 k9 O3 K+ D5 O: N8 j3 \7 g! ~
so does it mean if E failed to pay D,
: J5 Y1 u6 L& g0 Y8 _+ F9 Y, Tall the B,C,D,E have to go bankrupt?$ D- [. _- I6 A0 s: a& M5 {
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the multiplier just tell how much money created in a whole economy, ; x7 C9 N* t( N- g1 T
in this case it doesnt really matter how much money is created, / S1 A4 P+ |1 O# |! s& v
it's the problem of the debt itself.. {" E* G, x1 t4 H3 I) G
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.gif
, m. Y' s! x" C  g  W小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?% e# U! k) n, b5 t+ v" f

/ h( l0 Z* `5 z" X無可能淨係有人蝕錢無人賺架嘛...
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! Y6 d) s4 y$ J/ N  u  T! \敬請各師兄解答2 r6 |2 Z9 v2 R' o

+ ^. ]1 @# x: z# y/ g7 o( _2 ?Thanks

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那些根本係 紙上財富  1 i9 k: K2 v6 I
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 _0 t& c5 ?* C& v" yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  C% U  O- C' }3 j  g+ @% U
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 _4 L7 ~" R: }) X4 G; d9 q% C
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
" O+ ~0 N5 `+ @9 S6 i8 k1 A3 j+ u3 R個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 h7 r6 F& E$ ~
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  R+ [$ S2 l/ g
計番回報率就已經係50%,所以可以好好賺0 C8 L! o9 w" W! i. i6 ]2 b1 k. n
前提係銀行之間要互相信任先可以咁樣借法
/ F$ z+ ?7 g4 p7 }同埋個市場既前境要係好先得
/ F# A* T3 ?, j" u7 \1 B但當經濟一差,公司估值趺了,物價不升反趺
8 J3 [  ~* A3 E& q- h3 ~; z3 p例如剛才說10蚊的, 趺到得番9蚊, " a5 n' K4 e) V9 C1 u3 T
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ g0 k1 X# C, T; M9 m所以你就會覺得D錢好似蒸發哂咁" k, \/ I+ X  Z5 s/ p! X4 Y7 j/ n6 g

; A' P: c* H2 X+ [4 }6 N你都可以當標野咁諗, 個樣野多人可以狂升值,
) u$ [  `4 \! m2 b1 \, z2 @7 ^% d/ T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,
; U. {1 W+ G- D& F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 \+ _1 H5 \( h3 Z$ 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
# V2 E& \! s8 Z! H& z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.gif9 r, {" E9 E4 p  z
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( {5 y% N3 i0 s1 y% R, n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 q5 n8 B& `% L* X* E
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
: g7 _2 i6 Z/ b& ~咁你話d錢蒸發左去邊? ...

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正係咁樣
8 _2 F) g5 U8 @, l" v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
' y1 S2 h# L* w% \  u: k分分鐘佢地唔使還錢  d' a( u4 n) T7 y! X

2 `; Z/ p$ @9 s3 l" a1 ]1 R" 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,# a6 ]3 r3 j2 m& z3 d& @
連國家都係問人借, 不停發債券, 印鈔票
# K0 y) C! K7 y) D: U6 s, a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ g$ _  m9 E3 `
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.gif1 F3 E/ z! l3 G- U, |1 L0 d5 ~3 L% y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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: [0 A$ O. b0 ^7 p' w其實係...% i/ l4 s' u4 {" H. _! I
因為以前未生產, 先消費
8 j6 U5 t4 e* ~/ \5 y1 M2 S而家就要多生產, 少消費