0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ \* X2 Q1 W$ R% ^$ @5 \
Why bank will sell 借據給第三者???
5 U" ]  r0 h; o* B4 w( G( ?5 wI was so confused.....

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講到尾都係賺錢' W: u: G' h0 G4 _* ]5 q7 V
so銀行可以不斷放款9 k5 y* U: `3 S; J
美國的房貸問題散佈到全世界
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6 X! E0 ~+ E5 S' }mortgage loan
1 G  X( v- e( i/ T# h* I0 y( t3 ]9 a>conduit7 B2 |# X7 T5 f
>RMBS(Residential Mortgage Backed Securities)4 l3 Q1 ^  F( y. s
>arranger
# z8 A& V5 c  T% u: w! S7 r4 f>CDO(Collateralized Debt Obligation)
4 Y. [7 r6 E) E( d最後去到投資者

Kev

i thought it is the reason of rate of return.
. i' {; [0 C1 A8 S/ k" |CDs could have different ratings, AAA -> F,
0 @! ~. I" F5 L% Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ B$ n5 [% u% ?1 \# u* \' m3 l0 Omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 S! x4 n# F  ?3 k' r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( t, A9 b7 S3 J1 [& m$ `* e8 q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; Y/ \* a. M1 a7 e* \: \similar to bonds, CDs trading in the secondary market have different value at different times,! e# z& ?& V% q9 h
normally the value is calculated by adding it's principle and interest. / t, `6 Z+ X' G$ I7 w( G! T) O9 a
eg. the value of the mortgage+the interests to be recieved in the future.
$ [$ _1 ^. ]. c. kbanks 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.7 ?. u( f- `4 W( X& G* G* ]
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im not quite sure if the multiplier effect does really matter in this case.
6 e2 ?5 P5 G# ?5 J2 jin stock market, it's the demand and supply pushing the price up/downwards.: P' j& D7 e2 Y- S; P, y! ~0 I3 o: r* r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" J: M1 Y( Z2 ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 l! D5 X: Y. a7 z* T& AThe 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. ( G* z" P5 u: K; e  j- v* t
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" Z' Q* ]( V7 V8 k$ P/ l: o$ t
Refer to last example,
1 A3 O  g; w( z) v" P4 J* u1 lthat means bank A have no money because we borrow 10 dollars from bank A   I8 o6 t, Z* _) U
Because bank A doesnt have enough cash on hand
9 D/ g$ s, l. ?( \: ?- o: c$ Htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ F& G) y# A1 |. H& m. S# Qso does it mean if E failed to pay D,
1 g+ e: {8 V) A0 x( A! L& \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,
  \# D3 d. h0 y! Xin this case it doesnt really matter how much money is created,
( q" ]) x) E& ?0 p% D+ Q; m0 Pit's the problem of the debt itself.' I  k  Z1 O7 \/ a
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
2 Y; T! v  R! m% }, V小弟一直都唔明...6 _/ a& e- w8 c' W$ k% B
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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.../ p. I% J) v) X- l7 H& ~- |$ L, _, j6 A

2 D9 O2 m  ^1 K  F4 X; g0 Q敬請各師兄解答
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Thanks

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那些根本係 紙上財富  ) V  m7 m- m. Z$ v
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" {8 u* X9 x: @2 I9 Z

6 Q  l% h/ b6 d0 }. g0 E4 ?3 ]6 ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 P  R) s2 d& @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 E2 ]6 k  P0 l$ u* H$ |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
5 a6 ~5 a; D5 a) h個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 i: {% a0 R* p, M扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 V: l% ~0 w* _4 r5 s/ @; f- g9 w計番回報率就已經係50%,所以可以好好賺
7 `  h  `+ M6 K; k) i0 X/ ~前提係銀行之間要互相信任先可以咁樣借法
2 K! k. ^. w. V: F* {同埋個市場既前境要係好先得/ L6 x1 l3 U- o3 M
但當經濟一差,公司估值趺了,物價不升反趺- [5 t. w+ R/ r- V( W
例如剛才說10蚊的, 趺到得番9蚊, ; s! |1 z3 k( f! \
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% w' o( i+ T; Q
所以你就會覺得D錢好似蒸發哂咁' Y0 Y9 Y- W5 [( @7 Z, ~* V

1 C- s3 o0 M, i6 E5 T4 H你都可以當標野咁諗, 個樣野多人可以狂升值, * c4 K- M5 S! X& o& o5 ~1 ~
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,
* a6 q* j7 ?' D; H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . J$ O1 A) [2 s# c3 s
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
* F* b2 z% e' N: r/ j# K% V3 @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% c( A5 E/ K5 U. e+ s7 o& a8 P
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' ]5 ?9 l$ {* F5 Y+ s$ S/ k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 b  E9 P! B; s  t/ s
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* T2 k: a3 C2 H( O! E
咁你話d錢蒸發左去邊? ...

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' r( b3 |- Y/ R6 q正係咁樣' p8 `% A* m! {: q
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4 C1 N  Y% A3 Y: u
分分鐘佢地唔使還錢
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) a+ s3 F2 @# e9 a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,4 K% R7 A4 O; |  ?$ M3 ]
連國家都係問人借, 不停發債券, 印鈔票! C$ g5 o  T7 Z% n
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 R0 s8 O% u# ?; u6 G9 ]7 [
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
$ l$ h8 U% I& ^- h% Y$ O7 t9 l+ q5 P咁而家"爆哂煲"算唔算先至係變番"正常"???

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- W7 z7 n$ o, s1 D5 G其實係...  L' E. y0 c1 R2 z
因為以前未生產, 先消費2 N  P! g  V( A# F3 z: M2 y, G
而家就要多生產, 少消費