0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' h* z" B; X& |0 u3 M
Why bank will sell 借據給第三者???
+ k& [+ A$ J) n, P7 i0 ~$ ^! p: I- xI was so confused.....

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; W* S* K- B9 y" `講到尾都係賺錢
) [  Z: L# e$ g! L% P0 ?- sso銀行可以不斷放款
' u7 o2 x2 @$ n+ f美國的房貸問題散佈到全世界
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( S( @  T# t) Ymortgage loan + C2 E( s% z! @
>conduit
5 M  _9 S% {9 i/ h8 `$ e' F1 H1 @>RMBS(Residential Mortgage Backed Securities)
  r  ]# V9 v: K>arranger
7 ?" p) o/ `* J  v- P>CDO(Collateralized Debt Obligation). l' e/ ?9 F7 F5 S$ t
最後去到投資者

Kev

i thought it is the reason of rate of return.  c. v$ L7 W) j, W. K) l2 E# C6 f9 B6 p
CDs could have different ratings, AAA -> F,% @8 B) _. p3 I- _8 \( Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 h. Y; ]+ H4 e. l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% o5 U6 V" @. C. T" x  ~# b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 _8 Y+ p/ g0 n+ c; EAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ D- l) v1 `7 S; A5 S: T4 [" F
similar to bonds, CDs trading in the secondary market have different value at different times,: Z# Q  K* b# l( \! f: a7 N
normally the value is calculated by adding it's principle and interest. # Y" j6 ^) s- ~4 m* l
eg. the value of the mortgage+the interests to be recieved in the future. . ]; f4 A- {; S
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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& ^# p* W& y  m, e& M0 Zim not quite sure if the multiplier effect does really matter in this case.) Y2 o+ d3 Z1 }' |# H2 G& X
in stock market, it's the demand and supply pushing the price up/downwards.
0 u- Z5 l# g9 U$ pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 z/ F* T% v& i: S" Q( V
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 h1 s) j" r! l  M  c: V3 F" jThe 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. % ?' F. e  {3 L7 s
but the value of their assets did really drop significantly.
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  Q# v) e6 I- g4 _5 i* O! `[ 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
( p  l1 |, ]8 R7 [$ o7 xRefer to last example,
1 f% x1 b. Q/ w. Q& f9 cthat means bank A have no money because we borrow 10 dollars from bank A
7 t& R3 ]' X1 }# L5 g# RBecause bank A doesnt have enough cash on hand
9 O9 t; m. \- ~4 f' ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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' o6 X* C. l# w$ I! R! h" ZA->B->C->D->E/ n3 n' \7 ^  Q( Q2 V1 R# Y
so does it mean if E failed to pay D, ( M. Y9 |; R4 C7 ^- |/ n! F
all the B,C,D,E have to go bankrupt?
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7 y% a. T! E: T6 `/ ~the multiplier just tell how much money created in a whole economy,
4 y4 g, t* o1 O  S6 i& [in this case it doesnt really matter how much money is created,
- u- H( y3 ^8 [1 [# Wit's the problem of the debt itself.
* g3 F2 l* g8 Ythe 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.gif5 ~0 R3 C9 G- f+ x& p/ C, r6 L
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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無可能淨係有人蝕錢無人賺架嘛...1 ?8 i  z; C, X- o
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敬請各師兄解答# M  g* M4 a1 f. S# [: {1 r
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Thanks

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那些根本係 紙上財富  , H! _% o* V  {0 c" H% ]
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' e1 o& A" T. J

% x5 V* S) _' ~# mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
& V& a9 s3 R, [4 L8 e5 [! ~6 {' L$ V當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, J$ b  |0 k2 \% N7 f' o
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& H/ `  U8 j+ U! s: a9 a9 T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! F! i7 \2 F5 E& h' x+ r$ i% M+ L扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* M" ^) P3 [5 y4 ]: N
計番回報率就已經係50%,所以可以好好賺
+ Z# v0 t* L8 c3 h5 x4 e前提係銀行之間要互相信任先可以咁樣借法
3 V/ T# {: \2 T; a6 d5 h2 m同埋個市場既前境要係好先得5 ?7 }  ^  Z8 a& y
但當經濟一差,公司估值趺了,物價不升反趺
" P% Y1 c' a9 }7 h3 N/ T1 P5 J例如剛才說10蚊的, 趺到得番9蚊, * \! I1 g* D0 L2 B( R8 l
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 K7 i- l, r8 _+ O* S
所以你就會覺得D錢好似蒸發哂咁% @. \  g' D  g4 ~( k% p* ^8 L

$ j, V$ W( v: F: ^- b. O你都可以當標野咁諗, 個樣野多人可以狂升值, ) C  [$ s4 o' X6 f
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,
2 p* A5 x( f5 ^( P4 H0 {& m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 A9 n- S6 ]% S) K  v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& V, e0 v, @: u$ {4 D
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.gif8 A7 r. e, T  Y8 G2 f- h
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' ]' H7 ?/ u, O+ F5 x" }: ]7 G7 w. C5 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 H6 b( Z* K$ y) \8 ~* 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. n5 A( G# P1 S+ e3 M) ^
咁你話d錢蒸發左去邊? ...

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正係咁樣
" G; g, S* V' |$ @& _. Y/ L& B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
% G3 Q0 s, F: X3 Q) V分分鐘佢地唔使還錢
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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,) p" c; Y- X) P! Z1 o& M9 \
連國家都係問人借, 不停發債券, 印鈔票
  r4 }) z( G! g: A, @8 o( r一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ ^1 P. }& X4 B- P( e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.gif0 w0 u% i9 z( n+ y& X! [& x, y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...7 C5 |3 d  Z, `! P/ w" d8 m/ y
因為以前未生產, 先消費9 F5 R$ p( m5 Y, S; w
而家就要多生產, 少消費