0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 Z. q* J9 u, w1 @
Why bank will sell 借據給第三者???
! A, b, U4 i8 A& aI was so confused.....

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7 U9 J0 f, @1 c! h' i+ v3 V; ~  M講到尾都係賺錢
2 C, u6 E- R3 t6 _, D' iso銀行可以不斷放款; z9 x& B! R8 H8 l" Z& G
美國的房貸問題散佈到全世界+ O8 r8 `/ F7 O% X. N

6 \: ^' c7 O( r: t- b2 j- Hmortgage loan % O) z# M* e9 p1 n9 N
>conduit0 g, y% |, {, s$ t
>RMBS(Residential Mortgage Backed Securities)
. U( d/ p) P8 H( `( m+ u3 u5 Q. M# O5 `>arranger
) f* n/ Q' l) W+ \6 A& X% A* D>CDO(Collateralized Debt Obligation)
# O; a+ f4 }+ @: s最後去到投資者

Kev

i thought it is the reason of rate of return.7 u. u+ L. y4 ~$ u- q' Z
CDs could have different ratings, AAA -> F,4 r1 e4 @" F! c- V/ I: s7 Q% U) J
more risky ones would have higher premium (interest rate) as a compensation for an investment., \3 i1 M- z& t7 H7 f6 ?8 T8 W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" `/ O+ U" t% c& Y4 A. o  a4 Oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  O! z( ^6 J. R# YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 M0 x( }& m7 `
similar to bonds, CDs trading in the secondary market have different value at different times,) k5 J2 U2 M: U3 o
normally the value is calculated by adding it's principle and interest. . q" n' Q; x0 b' U
eg. the value of the mortgage+the interests to be recieved in the future.
7 G2 f! u- i6 _- Ibanks 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.: e! Y: E' k  p6 a- U
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im not quite sure if the multiplier effect does really matter in this case.2 w* I* v+ O: l
in stock market, it's the demand and supply pushing the price up/downwards.
+ W% |$ K! k8 d! |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," q* u2 S: j0 d0 P" Q$ R- g# ~' \
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 x6 Z& K' i9 |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.
2 z# j% a) G* g8 P: ebut the value of their assets did really drop significantly.
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7 c0 y5 _* \1 ?, F! _[ 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.gif3 @  w7 R" o  e/ P9 J
Refer to last example,8 A% d2 Y6 x+ V" i# L, s
that means bank A have no money because we borrow 10 dollars from bank A
/ @* ^6 ?2 D  I7 d3 g! fBecause bank A doesnt have enough cash on hand 7 W# |. j/ q* O
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" o- w4 O* S/ s2 q3 w9 gA->B->C->D->E6 l6 s) B2 D: z9 p: \5 q, k
so does it mean if E failed to pay D,
4 E7 Q8 y* {" ?% a! O3 A# C- ^3 `$ [all the B,C,D,E have to go bankrupt?1 Y) f0 j) ^* ~: |$ s2 ]4 M9 d

+ ?+ h* a- d) ^: m/ o+ k" Y
( n* ^0 H0 W7 K$ D0 A: J8 f% Qthe multiplier just tell how much money created in a whole economy, 7 L& Y- w' G& b3 {4 Y" O% I# j9 e# Z
in this case it doesnt really matter how much money is created,
9 r: J! D  h) ~. ^  Q( q' git's the problem of the debt itself.& S2 h% o# t# ^3 M" M' _# 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$ b6 a; c; k3 B4 C, M/ ~
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?2 G9 T  V- v9 A3 l- \/ o1 ~
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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
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8 e3 |$ Q. a. ?% w* N6 QThanks

8 ^# t" {' D3 U* a! D6 y! ]
那些根本係 紙上財富  
4 {: X9 [+ 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 V  f! N, o1 u! X: b% v
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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
7 \, x8 ~7 ~' W% T+ \6 s# w. q* ~當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 V# ]7 u0 h9 H8 {" e2 y$ Y, B
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 b1 s) N# d# A# [4 m$ e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( }+ L5 q- H1 @! U! D5 x0 V" m& w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& \+ Q. X1 t8 ?! v* u
計番回報率就已經係50%,所以可以好好賺7 G) G# O" Q9 c4 E# ~8 t" E6 K
前提係銀行之間要互相信任先可以咁樣借法
- E8 p% S6 {) X- H  x) Y同埋個市場既前境要係好先得
, u* g" D0 [7 d  u5 z% I! r但當經濟一差,公司估值趺了,物價不升反趺
% u( j4 N+ \* F- q! }' K" O2 d例如剛才說10蚊的, 趺到得番9蚊, $ \% O' ^. f  L8 o/ n6 E
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; ^& k; ]9 e* X/ ?所以你就會覺得D錢好似蒸發哂咁
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. b, p: ?( G7 H$ k你都可以當標野咁諗, 個樣野多人可以狂升值,
. }* ?8 I, M: g6 }6 r5 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, 6 Q* R! Z6 \- i& B7 h1 v' d# d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; S$ U0 D+ d1 }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- m( K# B3 a: i0 C1 M* J
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
- |% e( _! Q- N4 z' t唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 i! S0 n  O/ y3 k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 E: h1 z( Y* h5 p/ K- M& \
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+ g! R$ l( y& j1 q
咁你話d錢蒸發左去邊? ...

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! z  o) |  b" h6 i' e正係咁樣
. G$ i( }9 D( C) e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
. o  A- ]" M+ I0 G! H9 H& z/ _! P6 l0 N分分鐘佢地唔使還錢. `8 E8 U0 G: _9 l+ s; X4 m- d! t

& j  k7 {; r: i% r" O/ z$ h; n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,2 X3 P& F6 V+ W+ I0 ^) |0 ?% x
連國家都係問人借, 不停發債券, 印鈔票. G( o/ t8 W. ~+ j! P
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( K. O- U  O. }' v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) f0 K  _4 n5 j$ ?1 A' @  Y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 C. h7 d4 A& j其實係...9 m6 R: t; ~' y: F7 _' D& L
因為以前未生產, 先消費: J, W3 |* _! d5 `# Y; O/ w' x
而家就要多生產, 少消費