0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: b0 W, m. l' a7 ~- f+ g# I  RWhy bank will sell 借據給第三者???9 z  m( H7 s( r$ Y2 z
I was so confused.....

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講到尾都係賺錢
( j4 X( _- u8 m2 B; \. h2 |so銀行可以不斷放款
) k6 J; l: f" Q8 s! A8 A6 C; K美國的房貸問題散佈到全世界- @- r5 e# [( }5 }9 X3 @7 g
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mortgage loan : ?' P# s4 {3 I
>conduit  Y* ~- {* p  S& Y$ h& s1 p
>RMBS(Residential Mortgage Backed Securities)
6 E+ n- {+ U- A  }>arranger# ?! n, a! l& v* B& G/ l
>CDO(Collateralized Debt Obligation)+ R+ o9 u7 r4 j1 X
最後去到投資者

Kev

i thought it is the reason of rate of return.- g6 Q) o5 j: o' b/ `1 o- m
CDs could have different ratings, AAA -> F,
1 V$ R* Z/ `. \) _. K/ {more risky ones would have higher premium (interest rate) as a compensation for an investment.3 f) K/ b5 {' L$ K( s( g& s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# R9 ~# Z5 d3 n) f2 r4 o! c
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 \! R% q! M$ j3 w
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 g. {) _. S% Q  j# b" z; `# Bsimilar to bonds, CDs trading in the secondary market have different value at different times,
  F+ i- u5 D/ _; X$ {+ rnormally the value is calculated by adding it's principle and interest.
: R& M6 t6 `8 S( i' s& l8 V+ s4 G: Feg. the value of the mortgage+the interests to be recieved in the future.
7 D/ f% J( u( ^: c# w- Dbanks 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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im not quite sure if the multiplier effect does really matter in this case.4 t9 s# o7 {/ K; e$ @4 b
in stock market, it's the demand and supply pushing the price up/downwards.
* P& a" w1 ~) T9 {5 z8 B  i5 tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& y/ R  C+ W, V9 P4 C5 y- K% k
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; I0 w3 ^- ]! t$ N5 D/ y
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. " S4 @  U# Y& z1 ~% j
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
+ X8 ~/ j# @6 B! d5 o; hRefer to last example,
; G* q( k9 V: I& h- Nthat means bank A have no money because we borrow 10 dollars from bank A
" j+ B: E" q9 C, DBecause bank A doesnt have enough cash on hand 1 z3 L4 M  U3 Y6 z+ ~: H  G' r: S* E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ k9 z2 c7 E! Y: ^& v! J+ nA->B->C->D->E
! ]- }# W, \1 i' ]so does it mean if E failed to pay D,
" m- H+ F, v( Oall the B,C,D,E have to go bankrupt?
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* C, g' v/ u6 q7 uthe multiplier just tell how much money created in a whole economy, 6 T% G+ B8 f. j0 k. G/ w" h
in this case it doesnt really matter how much money is created, 6 I* p; D9 M, c: r& m! n, {
it's the problem of the debt itself.
# v3 w  {: o  A5 g2 I, pthe 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- O# B5 y: M: ]
小弟一直都唔明...$ [% c4 h& U. n

7 H/ m6 s0 y* i7 ?全世界都蝕錢，咁邊個賺緊錢呢?
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- n0 k2 n- [- M6 v" S' {. b無可能淨係有人蝕錢無人賺架嘛...1 I! N8 C+ p( |

: w) v- f! b5 o. L- {敬請各師兄解答
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6 l" u7 T( C# {1 M; `0 pThanks

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那些根本係 紙上財富  
- U- \. B8 z/ l2 H. s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) W" b% u  r% e9 r- {5 C
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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
/ j  D, U: u6 p$ L8 N/ ^當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ ^" ^4 O4 U# D7 d' Y9 U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
' ^. f2 A% e( _* c! e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 L2 [! o% `/ L; b2 k1 y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% H# a/ r7 O4 D8 {+ l計番回報率就已經係50%,所以可以好好賺% ?" z, N3 s7 c# b( z
前提係銀行之間要互相信任先可以咁樣借法
( Q' `& d1 X6 b8 ~6 }. `同埋個市場既前境要係好先得
& j% d" y' [" f" e- Q但當經濟一差,公司估值趺了,物價不升反趺
; g3 i* A% x8 @2 c! q7 o& ]+ K例如剛才說10蚊的, 趺到得番9蚊,
' R0 L$ U4 |2 X: x  t1 M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 C$ s+ ]) p. r- Z% Y. v所以你就會覺得D錢好似蒸發哂咁5 k! X9 v# A, I
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你都可以當標野咁諗, 個樣野多人可以狂升值,
3 r/ k. x1 v/ g- y1 o0 F6 N6 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,
3 E5 `. ~+ O" v6 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) ~) L5 h$ N. `% c% b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
; q5 I" T: U7 Y# ~: }( {& `/ |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& Q6 ]$ _5 a- s
唔係d錢蒸發, 而係比美國佬洗晒未來錢,   O# U& ?& ]% K& v# J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : w6 ^" U  r4 l
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
3 O' ?  a' n0 j, e咁你話d錢蒸發左去邊? ...

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# B! i" M, g4 v1 ]0 f& x正係咁樣
- h) k  L% {! I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 {! S5 H$ Q1 H0 y: w* K; g
分分鐘佢地唔使還錢! Z" x2 b  m# i0 _* x4 u, m  k

4 f! @, v! Z: ?+ ]! w/ 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," V; t4 p9 G: I" I
連國家都係問人借, 不停發債券, 印鈔票' F- g0 S" _2 r% [: C8 _
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 _* @% u2 s1 w# h9 z9 m
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.gif5 j5 i5 ]3 X; a. v/ E+ l& \' P/ B7 t
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! `" y" `; h! E+ f5 ~0 D4 Q( c
因為以前未生產, 先消費) t  z4 l9 F3 r7 ^8 m. t  O6 d
而家就要多生產, 少消費