0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& ^& ]9 k/ |- V3 f8 p
Why bank will sell 借據給第三者???
2 s# E4 T2 O; q5 \7 p9 yI was so confused.....

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( j% ?; W% `$ M3 |1 b4 M! D講到尾都係賺錢# X1 S9 g" R! A- O+ I# [+ H$ T
so銀行可以不斷放款
& Q7 ]$ J2 u2 \8 Q% p% L美國的房貸問題散佈到全世界, p0 e0 G+ Z6 Z" Y. c& `4 G
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mortgage loan
$ }  ~* u1 [; Z& Z- i" Y! {>conduit
1 n: u7 M) k* V2 H>RMBS(Residential Mortgage Backed Securities), j& L7 g: w- D5 o
>arranger
. D, T$ A6 ^  w8 ^0 ^( i( j4 W>CDO(Collateralized Debt Obligation)  P" {2 ~% S5 I+ L, |
最後去到投資者

Kev

i thought it is the reason of rate of return.0 U. F) G4 {% h+ Y
CDs could have different ratings, AAA -> F,  A0 y' k$ x/ w# b) Z9 ^" L3 d
more risky ones would have higher premium (interest rate) as a compensation for an investment." M' X( T- }6 s4 G' t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 ^" q. d* v; c8 Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( _4 k' j7 m7 z0 y& i$ ]1 r2 LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ V3 Q: B/ I0 O% w* ~
similar to bonds, CDs trading in the secondary market have different value at different times,& P/ U" ~: d% Y5 R
normally the value is calculated by adding it's principle and interest. * b% y" z3 ]3 a0 t% @: N& B) y
eg. the value of the mortgage+the interests to be recieved in the future.
0 }  O  \& u+ d! r+ M# [' z4 {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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2 o$ Z% u; \0 m% nim not quite sure if the multiplier effect does really matter in this case.
7 t3 r! r+ }/ d- [$ {# j/ Z! h7 s  uin stock market, it's the demand and supply pushing the price up/downwards.& S8 I) X7 F  F+ \5 n7 t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 h0 f& U# T/ E5 n( b+ hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: @( V2 \; k; I6 N- 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. # _1 P% Q# p7 o! V# H1 T, _; R3 m
but the value of their assets did really drop significantly.( J* O/ |- B+ c3 t8 \
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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
# U" N% [8 |3 \% T' i& ]Refer to last example,; M8 ?9 n5 k9 n+ D; H% }
that means bank A have no money because we borrow 10 dollars from bank A 8 F# q* B: f/ t
Because bank A doesnt have enough cash on hand 9 O* H3 J8 X$ \9 d' w
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
& {+ p5 n4 }) wso does it mean if E failed to pay D,
; V! b* F% g7 ~7 B- m- hall the B,C,D,E have to go bankrupt?9 s3 z# S/ u/ q+ w
1 |/ N2 B7 L. `$ k! h2 M/ ?

! C4 j- Z* D1 D3 J3 G9 O; M* bthe multiplier just tell how much money created in a whole economy,
, i$ X1 x1 E# Q" e% [) tin this case it doesnt really matter how much money is created, 0 P0 w( j; j% z# r" P2 g0 ~8 m
it's the problem of the debt itself." O+ @( ?" q! Z# w8 j! v6 F
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
6 J2 v* H) 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?
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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3 r5 V% A9 Y& V0 s2 G+ C% O

% T( s% f6 ]- O% NThanks

2 t: R. C; ~7 E' ^! x& w那些根本係 紙上財富  . Y$ m  D9 c. S! @) n3 F9 |' a
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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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
3 o1 v; U2 d8 r% `& d* G當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: A) x- G- E. }# r( {+ I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 @! _! Y/ t; x. f' x
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! ~9 Q6 i' C* t, l* ]8 \, R% ~4 N  I扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& d1 ^7 r# o! B. t. @
計番回報率就已經係50%,所以可以好好賺
3 o# P% @2 f. w; n8 U  V前提係銀行之間要互相信任先可以咁樣借法
- ]6 o9 ~( j" v6 T* Z2 p% K+ j4 G同埋個市場既前境要係好先得- N% P: _1 ~7 v9 i# o
但當經濟一差,公司估值趺了,物價不升反趺" b! G$ n1 Y6 X5 y: s( Y+ d
例如剛才說10蚊的, 趺到得番9蚊,
* K; \' k6 G5 p; R咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# _4 E# U2 A" v1 d* c+ P. `! c
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, 9 P4 l1 N: m! M9 X
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,
" v0 \. r( P; V8 S+ M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 l2 @0 L2 r! d- g  [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: ~8 U6 B& Q1 o. i. j$ H0 V
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.gif5 B( [. [1 u4 u+ ^# J7 h
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' T9 Y7 g: b! m9 Q7 H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 l8 y! R6 h( a8 V9 b6 z  D% [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
+ r/ k! W3 @3 Y+ n" N咁你話d錢蒸發左去邊? ...

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7 @5 R4 N/ b7 z% B( Y正係咁樣
/ s5 Q' s1 a/ \  x8 c) C7 |4 l3 k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
" G3 [' j! s" `2 p* 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,3 O; F) m6 v  w; P
連國家都係問人借, 不停發債券, 印鈔票' v( `5 ], x( ?& n2 y' J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 b* Q2 F+ [4 m& M
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
& @0 o5 @! L: q: r" }咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 c0 r8 w& D* R% A( ^其實係...
( \. B) y, a9 P+ @# ]: N因為以前未生產, 先消費% Y# f% O6 l. @
而家就要多生產, 少消費