0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ H' l" M7 G; `5 q2 [  D
Why bank will sell 借據給第三者???6 ~0 B" a, t2 F2 b8 f9 a1 Y: f
I was so confused.....

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講到尾都係賺錢- w. I* q& L6 n
so銀行可以不斷放款
1 F9 V0 V+ A, C: o4 i* M, T美國的房貸問題散佈到全世界
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mortgage loan
( N4 |' h0 N: ^% G( o5 R>conduit
7 v7 V' d9 ^. Y% o) G>RMBS(Residential Mortgage Backed Securities); e( [  l8 J; B8 f7 v- ?1 N" f
>arranger
( P* F2 ~' J, n2 Q* |: R$ D>CDO(Collateralized Debt Obligation)
+ t% G7 j0 M- W  {, @最後去到投資者

Kev

i thought it is the reason of rate of return.! ^6 |* X& h( r9 e
CDs could have different ratings, AAA -> F,
" f# v9 l* A4 Smore risky ones would have higher premium (interest rate) as a compensation for an investment.
1 q; B- z& O/ L$ X3 Qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 m; @6 o9 J3 g1 w: ]! a; A
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% e* O/ \! d4 Y* V
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 e) {7 G% R4 k+ a  F$ Y  \; M5 O& Hsimilar to bonds, CDs trading in the secondary market have different value at different times,: u1 T0 m6 m4 L' p9 L) Q  E1 n
normally the value is calculated by adding it's principle and interest.
/ V' o5 c7 _1 x8 Q/ |0 h& c/ Oeg. the value of the mortgage+the interests to be recieved in the future.
( X) u6 B! k; q" Y6 `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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im not quite sure if the multiplier effect does really matter in this case.
8 O+ k7 v$ Y* W7 Fin stock market, it's the demand and supply pushing the price up/downwards." m) S& m( u  q+ J3 i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 q: [: T3 n0 @7 o, EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 ~( z  p& v! N# G0 I; B
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.
4 ~7 x' t. r! Q8 m5 H$ c) ~+ T# abut the value of their assets did really drop significantly.
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+ d* G; E  w1 V* v2 e( [[ 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; H- B0 U( U: q% v
Refer to last example,
6 c6 q  W" d0 L/ Bthat means bank A have no money because we borrow 10 dollars from bank A 0 d* S; v4 l5 Q- e$ e
Because bank A doesnt have enough cash on hand
/ G) O. M: N1 a: P; O0 L  l# ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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7 |3 \2 i: _; O+ s) t, y( A* xA->B->C->D->E) {4 E& J  v0 ^* l
so does it mean if E failed to pay D,
( K& {7 m0 V: Q3 V* Call 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,
# Y; O8 U. Q5 f- v) fin this case it doesnt really matter how much money is created,   a) v$ F# ]0 ~1 [9 U3 D
it's the problem of the debt itself., ]4 P# T& k0 T8 }" w( h9 h
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! A! F( o5 ^, k
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?3 f1 e8 A  c7 K# V3 g3 M

7 _! S3 x  E. j  B* g: B9 M3 V( t無可能淨係有人蝕錢無人賺架嘛...
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1 I( ?  v! ]0 D* J8 w* J敬請各師兄解答
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# ~& r) @  u5 AThanks

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那些根本係 紙上財富  5 w  I/ v) H) y' L$ K0 j0 P
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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+ J" Q- Y9 k4 e6 T+ qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產( Z# p8 M; W/ |5 W8 j$ O# ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 h) E3 w% p8 H0 p& U2 C$ 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6 ?4 l. k7 ?: |7 \! K. d) P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 F, t; [9 ~' |( `
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! g9 [3 |2 N. E: r2 W3 A計番回報率就已經係50%,所以可以好好賺
+ [6 C* c. u: U6 _, X/ f前提係銀行之間要互相信任先可以咁樣借法0 z7 ]% F( D( {: N/ a5 J$ Y
同埋個市場既前境要係好先得
  P0 G; P9 R" v5 Y' ~1 L- }' S但當經濟一差,公司估值趺了,物價不升反趺& p5 v* [3 v  k8 p6 `7 R: o
例如剛才說10蚊的, 趺到得番9蚊, ' S) q2 r; U% Q! I, d
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* w9 N9 u4 c! g3 w  M
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, / w' h9 ?' Q( e  `6 g
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,
' }  s2 c% |8 w4 C1 p! z' _- ?- Y2 i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 |/ R" [/ v) H1 J5 A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% b! K/ O4 k. m3 x0 h$ S
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 P3 h7 i! U. |3 m) A' W( F
唔係d錢蒸發, 而係比美國佬洗晒未來錢, : {+ w& i) A" `) f8 {, S) m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ M5 z8 W* y  b8 z0 }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 W# m6 M/ k( ^! P: y& a; T+ P咁你話d錢蒸發左去邊? ...

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8 e0 Q9 x; t# r9 f( K/ t. M正係咁樣, Y) ~/ e5 Y4 J5 r2 }+ w! U( 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
6 o7 W9 J+ b+ j: ~8 Q( a3 `" g1 q' q分分鐘佢地唔使還錢
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; G+ l& `+ J5 `% E# w& F' s" x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,
; g! V) ?# b" J連國家都係問人借, 不停發債券, 印鈔票
+ g# @$ o; z: B+ s一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% ~  G+ C' S6 t: f  h
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.gif4 U1 X, L" \6 f9 ^5 O3 L: t; L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
# \, ~* Y0 ^7 g  f5 c/ `因為以前未生產, 先消費
& A* P6 V) X+ c8 ~+ N4 ^0 Y7 A而家就要多生產, 少消費