0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 u  L  J9 s! Q
Why bank will sell 借據給第三者???8 F/ O$ n& R# t+ \* f" Y- L
I was so confused.....

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講到尾都係賺錢6 X* m  @( R6 K; h8 ^2 c
so銀行可以不斷放款
  \0 }0 A( p, M+ h  H美國的房貸問題散佈到全世界. f8 F! E1 ~  v. _1 o! u
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mortgage loan
) u+ U  f2 L# B1 E- F, v; l; w>conduit! B: E6 m$ [5 S4 t$ F# w
>RMBS(Residential Mortgage Backed Securities)* R% w) S* B' n
>arranger" y  l3 O& \  C/ X
>CDO(Collateralized Debt Obligation)
$ ?) x6 q) K) {$ T/ N. Y; C最後去到投資者

Kev

i thought it is the reason of rate of return.: n' H1 }! x+ m5 y
CDs could have different ratings, AAA -> F,
- C# v4 f4 v) n& nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
0 C3 u  V" n- cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 A2 R! l( i  N8 S8 m* vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- p% T6 N- \7 h2 L. LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 N' n0 A6 j% k4 Z3 B- Q+ i
similar to bonds, CDs trading in the secondary market have different value at different times,6 P; a- l' m9 w# {3 I3 R
normally the value is calculated by adding it's principle and interest.
, ?7 r1 `$ {3 }, G1 Q6 Z" F, |& q! [eg. the value of the mortgage+the interests to be recieved in the future.
& L5 t+ r- `+ K/ e, s3 Hbanks 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.$ ]) t& J5 S1 d& D9 U& R( }4 y

8 T, R4 E# O: N% _9 yim not quite sure if the multiplier effect does really matter in this case.0 i& L4 X2 U( e( o4 f/ g
in stock market, it's the demand and supply pushing the price up/downwards.
& p' L1 G8 b% zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, h3 m+ j! x, u- ~; u/ J8 `# m& c% ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: o- _- T# D4 v5 Z/ b8 ~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.
; u4 q+ O4 [5 q5 d$ c  V, nbut 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# U+ r" s! F  nRefer to last example,
" A8 W  f' `5 e- x( Cthat means bank A have no money because we borrow 10 dollars from bank A ; J! d8 z. y" _( G: \4 h9 \8 c- d
Because bank A doesnt have enough cash on hand + o8 N* R( [2 X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E8 H: P% Y. Z% V; q: H
so does it mean if E failed to pay D, 8 x5 A' o+ U; N2 a
all the B,C,D,E have to go bankrupt?
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/ [; L: s$ [8 c7 b" O5 N* A. cthe multiplier just tell how much money created in a whole economy, 9 S3 o' T9 f& s
in this case it doesnt really matter how much money is created, " Q* a( F6 E# ?: I4 @( w
it's the problem of the debt itself./ u4 }) d; V% S5 Q
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
1 L; \8 ~5 B. [4 H# `' Y1 h! C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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, b, R) j; J8 y無可能淨係有人蝕錢無人賺架嘛.../ l. R2 S( y# O4 q5 H

# S# @0 G" J6 k0 b( Z1 f敬請各師兄解答( o& |7 b  [0 Y9 T, M7 D' b* `
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Thanks

( M% U+ _# O0 S8 Y- R2 _; g那些根本係 紙上財富  , C; V. x( e" R: y; f
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 graphic0 c+ C. E) s, G
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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2 [  R7 F: t8 u, M
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 Z- K, T6 _+ l: {
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
" R8 P1 B( z/ N5 S0 b" q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ h7 K$ |. V( v7 e! v+ ^3 Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! T9 {) T/ H5 n/ K( ^9 [* J6 p
計番回報率就已經係50%,所以可以好好賺
; @! U/ c" k& Y前提係銀行之間要互相信任先可以咁樣借法7 ?1 }2 v2 H" p& x
同埋個市場既前境要係好先得
3 G+ ~. D( g8 z% |3 u/ z但當經濟一差,公司估值趺了,物價不升反趺# W: Y$ k1 t! R4 s, |
例如剛才說10蚊的, 趺到得番9蚊, + ^( X; r: g& a  S& L6 Q
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: ]2 n! z/ p" \所以你就會覺得D錢好似蒸發哂咁
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5 @9 b, r/ |- W  R6 z% \  R你都可以當標野咁諗, 個樣野多人可以狂升值,
  P4 P  S  u5 M% @# ]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, & p7 K) B+ r6 F( q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. n% }0 `) P$ z! E5 |; g4 j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 n1 i) K- U) \( p3 o
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.gif6 w, S" K5 H# x+ s% I9 v
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * b  b3 _5 I6 p3 G, p9 Z! z' V7 r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   U2 L/ y8 J8 V0 y
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
* j* [, A6 ^0 ]* K3 e1 T咁你話d錢蒸發左去邊? ...

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/ x/ w" x( a2 A" x1 Y$ ?正係咁樣
: B% h2 [  z( [' n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; V+ ]. x( K4 R% a% j- G4 y' J' [' {
分分鐘佢地唔使還錢2 b6 Y8 E: b, `, }

% `) V" ]3 s" o8 g1 E. ~- z& U2 h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,6 ~6 A3 ^3 |  p4 T! V  `8 m
連國家都係問人借, 不停發債券, 印鈔票. e  y7 ^- ]7 x" k8 N% i
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 A$ h, K% {' v) X
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
- X8 r! B( Z! [) Q' b咁而家"爆哂煲"算唔算先至係變番"正常"???

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* B. f( v& M& n# }" j其實係...3 z, @* n4 G6 C) x7 r0 `  _# F
因為以前未生產, 先消費) e3 o; i% x. m7 B9 E1 S
而家就要多生產, 少消費