0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. ?$ l: I) j7 J1 `% O9 ~
Why bank will sell 借據給第三者???
$ I) k3 F% j7 ~* b) ~) bI was so confused.....

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3 i6 x2 X+ [& \( e2 }& n講到尾都係賺錢
: l0 l6 N6 y  r3 r% Z. iso銀行可以不斷放款
+ m2 Y- e  ]0 m4 T美國的房貸問題散佈到全世界
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% m  H6 ~. f: n& ~8 c0 b0 J/ Nmortgage loan
2 `; q  z& s7 E5 c, j0 y" W( H>conduit7 U& i6 D, _9 P- b7 ~+ a2 r6 Q
>RMBS(Residential Mortgage Backed Securities)
( c3 q4 W5 a. z, c5 \" v>arranger
" U' R0 T2 N2 `% S>CDO(Collateralized Debt Obligation)
) |- e' j( _9 h5 X/ q+ m最後去到投資者

Kev

i thought it is the reason of rate of return.' Z* W. m, b: n8 o! U( S- g# g5 ?
CDs could have different ratings, AAA -> F,
2 [4 ?* k; O& f. Y0 B4 k$ Bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
1 i* D3 b) a( \, R) C. ?- S0 S1 Amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 v$ a; ?3 k% t$ E% j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 p! v# g, l0 G7 g/ jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 o6 {9 Q; @: P
similar to bonds, CDs trading in the secondary market have different value at different times,# Q8 O. w1 _8 }4 W& K, Y
normally the value is calculated by adding it's principle and interest.
( Z7 G, Q7 t( w1 l9 H2 U# Meg. the value of the mortgage+the interests to be recieved in the future.
) ~0 Z' O1 J. A  G9 o& x8 obanks 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.
: y$ K$ w, T$ J) D8 K" Din stock market, it's the demand and supply pushing the price up/downwards.: _* a' _- @1 f' \: w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 N+ Y3 h% @* C9 I% ^
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 D. @- u% S- K6 o5 v9 v
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. * T& j( f# o5 t( K
but the value of their assets did really drop significantly.- J( V, G6 E4 H8 W4 Y0 M5 y

" L2 a" R2 o; d! J9 k# P7 l+ H: x[ 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
! G6 d; ?, D$ A: JRefer to last example,. E9 c7 i- f% H
that means bank A have no money because we borrow 10 dollars from bank A 3 I/ p" g( o3 Z6 i, k
Because bank A doesnt have enough cash on hand + T! Z7 S. `5 \  L' }# X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 M+ N/ H0 _( h/ Z  H, V: t
so does it mean if E failed to pay D,
9 Y- ?- U' L! N2 f1 C3 m  X8 h/ Nall 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,
; T, A& a0 M; jin this case it doesnt really matter how much money is created,
2 A0 G& J, y3 J9 k: `/ f+ n8 Zit's the problem of the debt itself.7 S6 E" b, h; G" c7 ]) H1 Z# a; x9 N
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! U- L8 F8 t7 T* B, z! M, V9 x
小弟一直都唔明...) L9 L7 c2 @2 g: `' J! ^
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全世界都蝕錢，咁邊個賺緊錢呢?
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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1 r; f! m% h4 U& a7 G. t4 b
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Thanks

  Z9 `, c6 `' E. b5 N0 t1 j( Z那些根本係 紙上財富  $ P! Z) Z& C5 s3 l( U
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 graphic1 P, `- f3 r& g$ v( J* ~
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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& Q9 @# s5 @3 s0 M) ]( t6 t4 M
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- J7 o5 F1 r! W5 I$ ^* D
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
3 u2 x5 w+ Q- |+ g9 f+ u個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; H8 g% o: {' e  J/ C  P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. i: m/ I! w7 _& w計番回報率就已經係50%,所以可以好好賺
# z7 ^* r2 v. f# h: O5 A4 J- B% r前提係銀行之間要互相信任先可以咁樣借法
* W( j% s8 Z) b" P8 C+ x同埋個市場既前境要係好先得
7 c+ N, S$ P5 c: a& j但當經濟一差,公司估值趺了,物價不升反趺9 H$ H7 G2 R! s; _6 R" a7 s" a: M0 h
例如剛才說10蚊的, 趺到得番9蚊, % l3 O" D8 Z# O( R  p( k- r1 n4 n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 ~$ u+ W! P0 I$ Q: Y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, 2 Z( y; U% s  A9 T, e* u$ ?
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,
/ ?5 q8 Z4 V! @1 R* X4 @# I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 J  R) y/ v0 L
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- ?2 _+ l! m, Z$ m
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
; d6 c; K% _) V' t% y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ N5 Z" k6 x! M, t' M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' b! K1 ]( X5 |+ ?1 [) 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
7 W3 x5 ^1 T* }# r咁你話d錢蒸發左去邊? ...

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正係咁樣" E0 Z6 S' p+ q* _0 c
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
4 E$ _. Z7 ?1 m8 z+ f. [: @3 \& Z分分鐘佢地唔使還錢* o* r  \2 g, L) A& k
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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,
1 }) i, r, |) t- k  G連國家都係問人借, 不停發債券, 印鈔票6 _- R7 y4 `4 c" w5 J* D% _/ ]- W
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' F8 J0 H/ Z% d& M1 d) ]; _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
4 }' h6 o+ F! d) p; i0 U咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
: ?" E9 B; _$ |因為以前未生產, 先消費' H% U4 K4 Z" ]" Y# o* k( h' f
而家就要多生產, 少消費