0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' X% [. Z* t: _- @; u4 i  n- u
Why bank will sell 借據給第三者???
4 o: s/ {/ `5 c3 O: d, b, @I was so confused.....

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% x0 G( e7 g" K. C- N; n講到尾都係賺錢# O- m/ R7 T8 {7 D2 q
so銀行可以不斷放款
/ _* K2 D! k2 [美國的房貸問題散佈到全世界; H) Q2 I8 q3 K7 t% p

  r  C: l1 e! a+ e5 r  K* Bmortgage loan & v& @: |& |9 T
>conduit
* B  y. F6 B: M8 W5 v3 ~& @>RMBS(Residential Mortgage Backed Securities)
) q: ^6 j" }* G% _4 `% X- ~>arranger
  P3 Y+ h- Y, c. ]>CDO(Collateralized Debt Obligation)
% a5 y  d: ?* F0 I: L7 u% v3 Z! P最後去到投資者

Kev

i thought it is the reason of rate of return.+ Y( Z  `' \2 @6 b) {2 X
CDs could have different ratings, AAA -> F,  }" W$ a9 u: Z5 m
more risky ones would have higher premium (interest rate) as a compensation for an investment.
# A- q" S' s; Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  U+ h9 `: Q# ?0 G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ I8 h: X6 j. y& L- vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, i2 _: B! j( q1 d6 m+ d" [4 Gsimilar to bonds, CDs trading in the secondary market have different value at different times,
9 a8 @. d1 b. m3 V: `! Qnormally the value is calculated by adding it's principle and interest. 1 z  W7 U7 L8 i! {0 X
eg. the value of the mortgage+the interests to be recieved in the future.
" R- d: R7 R( t. {/ d2 a/ o1 F! }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.2 {* {' K% w. Y; N( l- K) Q

+ Q. T& I/ u& N. |/ fim not quite sure if the multiplier effect does really matter in this case.3 }% r2 R- [8 ]3 g  i( [* e
in stock market, it's the demand and supply pushing the price up/downwards.: ^+ N. A$ K# F/ t6 a
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 o' g3 Y# z$ l3 H5 b* l
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ C9 k+ l5 `5 n. G' QThe 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.
" Q7 g- E; J; S/ Gbut the value of their assets did really drop significantly./ O9 q) [, X/ o. e; r
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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
: N* t3 q. E) I" y. eRefer to last example,& V, l! Z* d5 q
that means bank A have no money because we borrow 10 dollars from bank A
& ~6 d3 T( e- P; ^6 p+ X! L3 m& qBecause bank A doesnt have enough cash on hand ( |) I1 W* e; v/ a  t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, p7 p2 m1 ~  L- i5 {% w) q5 N0 g# B
so does it mean if E failed to pay D,
5 c) e  s1 h3 C2 w/ X5 L& Dall the B,C,D,E have to go bankrupt?$ {% E! S' w7 N1 `
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the multiplier just tell how much money created in a whole economy, / L0 f8 d/ r2 m- O6 Q
in this case it doesnt really matter how much money is created,
1 `6 V% |; g; [, [2 }" u7 j: wit's the problem of the debt itself.9 y9 p: a+ e& e
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% B" p" U) q& l
小弟一直都唔明...
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4 ^3 T+ X, [* A" t6 X+ V全世界都蝕錢，咁邊個賺緊錢呢?
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; ^8 G. j/ c. S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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Thanks

& |# e, `& {& s3 k0 U
那些根本係 紙上財富  * ^$ d% f1 a/ k9 a/ H
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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  Z5 q3 z& d% a0 l5 Xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
% D) F& M/ k8 g" E5 P# A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* @! x! ~4 [4 u7 _
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7 H7 d3 w7 P( Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 `" b7 V+ _' H. E扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, X  [( E# J; {8 r" u5 Z* X1 Q
計番回報率就已經係50%,所以可以好好賺
  K+ S; m% ~; H9 X% U前提係銀行之間要互相信任先可以咁樣借法
" T2 w( ?1 L9 Q  S+ \! X同埋個市場既前境要係好先得
% l  F5 Z# R. ?7 _5 @3 n$ F) F但當經濟一差,公司估值趺了,物價不升反趺
5 E) [! P2 c8 p, e例如剛才說10蚊的, 趺到得番9蚊,
1 z. R. F1 Q7 q6 C' q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 x% V5 C/ U0 [& m- l6 b所以你就會覺得D錢好似蒸發哂咁
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! d& M) M* _& n2 O0 b你都可以當標野咁諗, 個樣野多人可以狂升值,
' j: g* \3 g% ?+ N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,
& s' `% B# }6 H# \4 S$ {9 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. ^" f' N2 s9 D! i$ `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 i3 v2 I, q+ m) T  a6 ]
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.gif8 d3 S- O. q$ [6 k$ u
唔係d錢蒸發, 而係比美國佬洗晒未來錢, / r9 V7 F: M! m1 i  H4 E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 b3 c+ u* e4 J7 P& C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
& N' |0 u5 d  x9 W咁你話d錢蒸發左去邊? ...

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正係咁樣: C4 [8 G8 P5 y8 G6 D; d* g
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
- X% y# ~+ E) m+ r8 I6 j分分鐘佢地唔使還錢) j( s( d! v2 J4 i0 }9 P' I& c" _0 e
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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,
& ]3 e% i) A7 l- y" e  f連國家都係問人借, 不停發債券, 印鈔票
$ Q* K! o0 B* p) y; B一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 w. @' k4 K* i
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" F$ b$ L5 z7 G2 D
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% K# r- b$ ?/ H
因為以前未生產, 先消費( G( S3 L! _4 x6 j
而家就要多生產, 少消費