0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# O) B5 b$ D- q
Why bank will sell 借據給第三者???2 E2 x5 x7 T, x8 V, g* D
I was so confused.....

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講到尾都係賺錢' ]+ @1 ?, |0 ?4 p$ }" @6 l
so銀行可以不斷放款
- i7 v* Q( y# M1 v美國的房貸問題散佈到全世界" g/ o: g, a. [7 t2 t1 I5 b% n

0 w2 v' }8 f' D4 V0 |" c9 V* H0 Tmortgage loan
0 B3 ~; P2 o" B: X8 Y) i>conduit% G9 \, r' x. C, h  _1 o
>RMBS(Residential Mortgage Backed Securities)( ]- m& {2 S% {, h; N. W
>arranger2 ?' E; q; ~6 m) U( H' Z
>CDO(Collateralized Debt Obligation)
9 Q: Q  l* |$ Y( F) K- B最後去到投資者

Kev

i thought it is the reason of rate of return.* I3 y, I9 O- a0 H
CDs could have different ratings, AAA -> F,
3 i% H$ S4 [/ T' b/ fmore risky ones would have higher premium (interest rate) as a compensation for an investment.
1 E% o: m0 j$ b4 K& C/ U/ ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ X5 J( x1 v3 B9 b( D: D( U3 w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ ]. u/ p) ?0 PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 {# w! m+ Q; m2 m& ~+ B" N4 B' @similar to bonds, CDs trading in the secondary market have different value at different times,# c/ H/ {  W8 i" b
normally the value is calculated by adding it's principle and interest. . X) o  g: @" n2 l. S$ |
eg. the value of the mortgage+the interests to be recieved in the future. . B* A1 P* P4 c3 k" j
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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; H% }' F! E6 ~  Kim not quite sure if the multiplier effect does really matter in this case.
: z; D$ R# _8 }3 A- i# P4 H; w! Jin stock market, it's the demand and supply pushing the price up/downwards.# d8 f( o) ^( G: R% T( }
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* T& Y: _2 ^# O  r/ pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% v( b: P# ?5 V/ B9 R% g6 G
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. 3 ]: R: h/ t' E( I4 }# |
but the value of their assets did really drop significantly.
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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
, X+ L) s/ Q+ ~% ?6 d! y% a1 WRefer to last example,7 U4 R+ r, H4 ], R7 w4 w
that means bank A have no money because we borrow 10 dollars from bank A
7 R0 [. V; L7 R: U8 U) Y; TBecause bank A doesnt have enough cash on hand
+ ?. u. [5 Q" f. Utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
" j# w: T% h9 Q" y( S' e6 M! Vso does it mean if E failed to pay D,
" f1 ^4 ~! r+ R$ ^all 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,
: A# r" M7 `" m( [+ s! \8 iin this case it doesnt really matter how much money is created,
3 x: P( c) G9 ~4 k3 git's the problem of the debt itself.3 e, W# N1 b# i, ?- B
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
) D3 l6 j5 T2 {2 l小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?% k$ q+ [" e# J0 @' O. |6 r

1 f/ m* G$ w7 u/ r# m無可能淨係有人蝕錢無人賺架嘛...4 T2 E1 g- f  e1 I

* e$ Z, w$ h3 h敬請各師兄解答- M6 O" d/ }2 s

6 s% T: H  A$ `7 xThanks

- w  K" Y) L$ j( }% k* [) \9 R" p, Y9 J- ]+ U那些根本係 紙上財富  % P: ~1 v6 P% E7 s* m
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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6 }3 S* S( o) V, l4 I# ^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
2 j3 Z: k0 c( k5 W& X  T; V3 p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' t+ ?4 D+ M8 a' T6 o) J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% w& S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 X# y1 {; t+ Q( X4 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 |% U0 [* V, L計番回報率就已經係50%,所以可以好好賺
8 O0 \8 o9 g7 `( t前提係銀行之間要互相信任先可以咁樣借法5 p; z6 C$ ^9 w( ^4 O
同埋個市場既前境要係好先得
5 [3 f2 X6 u9 h9 h* B但當經濟一差,公司估值趺了,物價不升反趺0 u8 E) m: S5 d# w% n+ z0 O: b
例如剛才說10蚊的, 趺到得番9蚊,
9 N2 e- }1 m, M) |" w咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& X6 Y3 S  d9 b/ P) a1 w6 H
所以你就會覺得D錢好似蒸發哂咁' Q: ]8 `: M- Q4 v2 ^6 n( U' e/ ?
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你都可以當標野咁諗, 個樣野多人可以狂升值, 8 I3 w# }, C1 b6 b* l) s* l
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,
+ j  x! g& Y; _5 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- b/ Q0 F+ i# S  V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0 C" Z: v, n9 W0 X
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* _* `5 u" s: O# A; Q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 {8 V' S8 e9 j1 Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - V" `  y3 |7 w1 ~
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
& }6 O7 ?  J4 m( J咁你話d錢蒸發左去邊? ...

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正係咁樣  O0 ^& S& W" K! v/ F6 |: l& h
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& y. _+ ?: q; [7 Q+ r
分分鐘佢地唔使還錢
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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,, ?) m) T6 v5 s# W
連國家都係問人借, 不停發債券, 印鈔票
: q/ J% ?( ?! U' i  V- ]) o一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) e" u6 u5 Z5 \6 L# a* |. y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
" |5 n" i6 n1 y3 I. @咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 G1 ~; v) _. h/ f0 x其實係...
( U$ L* Z* i- l% K6 y. }0 J因為以前未生產, 先消費5 \9 E9 G( U5 X- ~( ?
而家就要多生產, 少消費