0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif, u( E& G, Y; g, p
Why bank will sell 借據給第三者???
/ W2 W( B, w- z2 gI was so confused.....

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8 I+ S6 {, \+ h8 U講到尾都係賺錢
4 Q$ k/ T* ^7 k4 l, Dso銀行可以不斷放款" |1 u8 G9 G% x" l" O; T: o0 j
美國的房貸問題散佈到全世界  o: G' u6 v4 N, L
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mortgage loan 8 i3 I7 {1 h" }, [( N+ c! \
>conduit( j8 J% z" c# D% z- b
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
6 F+ ]. p" K7 d$ k" @! E最後去到投資者

Kev

i thought it is the reason of rate of return.
" q1 Q9 V0 I8 U& m6 o8 QCDs could have different ratings, AAA -> F,  V7 o) b0 E+ T4 C/ V/ ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.
7 z6 p1 X" y1 e% |* M* ~8 Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 D9 U+ n# a: K4 c4 e- jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 W" G, c9 \2 r* l3 ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
/ |! O& p. U" vsimilar to bonds, CDs trading in the secondary market have different value at different times,, r0 D2 o) Z  f. t. w
normally the value is calculated by adding it's principle and interest. 3 b' s) Y& p1 k( T6 [" [
eg. the value of the mortgage+the interests to be recieved in the future.
- \" g) G3 G9 J6 b6 r2 ?4 Xbanks 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.& j3 b+ E- j% j: e4 q, P& T: d+ l- M
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im not quite sure if the multiplier effect does really matter in this case.
, W" I+ C: u$ k5 Fin stock market, it's the demand and supply pushing the price up/downwards.# `) @$ j" R" W8 F8 a& r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: ~+ i( ]% w  t; wA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 |+ U8 @7 d& [5 O0 E4 eThe 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. % U( J6 ?) C7 L, W, j& D9 V" u
but the value of their assets did really drop significantly." b* x  `, m' L  G% `  C* [5 w" G& L
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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
- W8 J2 A; i: |& Q2 i& ~Refer to last example,1 g2 C% X+ R" b: C
that means bank A have no money because we borrow 10 dollars from bank A , [: p7 R' T& W. \' H
Because bank A doesnt have enough cash on hand
# c' v5 }! H8 b0 k' N0 vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E" y- O' ^- @1 w) j) p0 |2 W4 O
so does it mean if E failed to pay D,   B$ ]  ^; R7 n+ P
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, , O: v+ \" Y6 F+ P0 T
in this case it doesnt really matter how much money is created,
3 J) R" E  T9 N/ vit's the problem of the debt itself.
% t9 d; j; P2 h, [9 Xthe 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$ N0 w; E1 z) G# v( V9 u( H* G
小弟一直都唔明...: ?/ `4 D4 ^6 l9 M
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全世界都蝕錢，咁邊個賺緊錢呢?7 x1 O: u6 J. y. K* U& t
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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8 M+ ^5 u0 Z; B: _: [7 \* W; S

2 M+ o& [/ d2 G3 H2 hThanks

9 g' n9 F/ Y" E- x6 L那些根本係 紙上財富  
0 r7 X5 J, z8 x8 s1 T5 \) 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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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% G7 V. M1 N% y& ^& Q) p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 @) G8 [" S7 v% l+ D
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+ O$ q# B1 I' V' E+ z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 f! Q: s- P' o& G" [5 r6 a
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 L" }& O" }, s! _& ]
計番回報率就已經係50%,所以可以好好賺$ W+ y; }8 i, i+ s) S1 s: F
前提係銀行之間要互相信任先可以咁樣借法5 ~1 d! M1 l* b, a
同埋個市場既前境要係好先得
$ G/ k& _6 ^1 N: ]3 G( T- `" {但當經濟一差,公司估值趺了,物價不升反趺, m) K, _6 ~% x' f6 P2 P
例如剛才說10蚊的, 趺到得番9蚊,
0 x7 M2 Z! z, H5 ?咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& N, J0 e( G0 E所以你就會覺得D錢好似蒸發哂咁6 U% f: F0 F# \0 z( X- a7 S% W

. f" [$ ]# n: D" b* M0 P  N1 l你都可以當標野咁諗, 個樣野多人可以狂升值,
8 p* L; `- C# P* {% Y) y2 p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, & O4 r; q2 L5 p! O' e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: Q! E& h+ \& _' _* @/ C! _, r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
" P! O0 c( ?3 [: q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: m. O# q; w' T
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 ]/ G1 a6 g# H4 S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 ?0 B  R" H; c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
6 N1 F3 O. F7 m/ r, b; P咁你話d錢蒸發左去邊? ...

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1 {2 L) Z4 A, y6 r6 x正係咁樣
1 ~' t- }% F4 U$ F4 c# G6 a: 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! X0 T. E  O2 p" V9 M
分分鐘佢地唔使還錢
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) v$ ]1 y' q. I* w8 F) q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,
9 @( T7 P, B5 [+ J5 R連國家都係問人借, 不停發債券, 印鈔票
" A1 d( D. e4 u* ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 b: @& ]! h3 P4 I& ^
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
' o  j1 R) g# F; z4 g( x' W  \- c咁而家"爆哂煲"算唔算先至係變番"正常"???

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  M0 P1 {) @! e8 \) F其實係...) @  g! n' t7 B
因為以前未生產, 先消費, U" ?3 H6 I- ^" p
而家就要多生產, 少消費