0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 t) }& K% n: J
Why bank will sell 借據給第三者???
) I6 U( X1 o$ f. |4 b* i1 FI was so confused.....

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講到尾都係賺錢
$ {" v3 u6 x, e5 r9 r7 pso銀行可以不斷放款2 F6 E/ r" t' n" K. k$ \
美國的房貸問題散佈到全世界
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mortgage loan ! e* u7 e6 B9 S" V( L
>conduit. Z, t4 I& f* K+ _' V: f3 i
>RMBS(Residential Mortgage Backed Securities)/ |. v  c1 s% c5 L0 ]% e# V/ ~2 n
>arranger  x/ C. r! Z6 L1 \
>CDO(Collateralized Debt Obligation)
( j! }/ S6 |8 |2 a& s* d+ b' K) O最後去到投資者

Kev

i thought it is the reason of rate of return.$ S) W5 W6 ], l, l5 P
CDs could have different ratings, AAA -> F,7 v0 x1 \  w( ~$ {( q3 r* z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
7 `: b' w3 H- @0 l$ ?) o9 Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 A- g" e; u4 }: M; |
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., p, v& W" l" F  f8 @3 z* ?" P* E
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) v' J: u( P( z( z: Q( ksimilar to bonds, CDs trading in the secondary market have different value at different times,
7 ]/ ~# u8 R( O3 fnormally the value is calculated by adding it's principle and interest. ' j& P7 T, D9 u2 T
eg. the value of the mortgage+the interests to be recieved in the future. , \, `  J2 H$ u/ h8 [- t5 \
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.0 E& K) V+ P3 O$ g3 ]3 z# E
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im not quite sure if the multiplier effect does really matter in this case.) @6 p+ c) B  c. ]
in stock market, it's the demand and supply pushing the price up/downwards.& L, m' [, H3 C( ^$ I% o; Q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: ^" h3 {5 o1 `! A" T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ \: [  o2 t! S! A3 cThe 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.
- j% g; H: V4 r" `* _1 obut the value of their assets did really drop significantly.: {( y( n9 [( v. z6 E
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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.gif4 g1 D9 R. Y0 n- n) t
Refer to last example,' K) V; r  {% k- O
that means bank A have no money because we borrow 10 dollars from bank A 3 x/ I3 O1 ]" s% K
Because bank A doesnt have enough cash on hand + C  Y! V7 {% x+ H% |; l& b9 l
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E: [+ i6 o1 G$ l- c
so does it mean if E failed to pay D, & g: U: u6 @+ V
all the B,C,D,E have to go bankrupt?
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6 ]$ L4 c! _# x( Ethe multiplier just tell how much money created in a whole economy, # R# m0 O" t$ @. s+ d, M8 ^/ T+ R8 c
in this case it doesnt really matter how much money is created,
6 h$ r# \" ]9 V; Y+ Q( [: g( Q' mit's the problem of the debt itself.
( x7 m3 z: {3 G0 m+ |& Dthe 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
1 J& Y- U, T+ ~# s0 P2 Z6 ?0 {小弟一直都唔明...+ G; a. A7 i. M+ v# r, U

6 {3 }2 ?0 J' S5 ?; w全世界都蝕錢，咁邊個賺緊錢呢?- l# ]& ~; f# d7 x# A4 d7 I& A

+ u5 C6 N5 E# a  Z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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) l! U/ W/ `. t+ q  LThanks

9 c. D  c) G0 f# Z0 D4 ?那些根本係 紙上財富  
% Q+ @$ P, t; `% w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 p' p6 G5 H" g, I

: K  j+ I4 w% l  Uhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
( S4 U! Y2 A4 Y9 r當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. J( i* n( ~( @2 U+ {1 w
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
. V% }5 y' D9 @0 ?' D' w0 p個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) L! X: \9 D5 B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 p! t. u8 J: w# m4 J, W計番回報率就已經係50%,所以可以好好賺( ~- B* q2 H) @# g# j& }2 d, }# L
前提係銀行之間要互相信任先可以咁樣借法# K' v2 r6 O# z2 \9 D2 r- r6 l7 A
同埋個市場既前境要係好先得# v0 e1 _0 l3 I' V* L
但當經濟一差,公司估值趺了,物價不升反趺
$ g: u3 d/ J9 ?$ O8 D# c( t例如剛才說10蚊的, 趺到得番9蚊, 7 t+ Q! ]) x4 ]1 C7 k- c/ W( U! N
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: I" V4 r; e+ u所以你就會覺得D錢好似蒸發哂咁( ]7 m5 s4 W2 a  i) R$ }, ~
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你都可以當標野咁諗, 個樣野多人可以狂升值, 4 `+ U6 b$ H+ w
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 v* v3 f7 R) V, @+ M1 m) x) S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* P4 \/ ?/ y& X0 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
; Q# i' A2 m* d4 b5 U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.gif6 _+ n$ p1 r( v7 E! N7 @, }7 h% i
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * }$ [# \" G# v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 `' f7 T! W7 Z" E; a8 D8 Z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' l4 D3 J3 _' T3 z9 F! g咁你話d錢蒸發左去邊? ...

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正係咁樣  A. F7 \+ [% G, b  `- D
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
* _* _) L" V( }  b分分鐘佢地唔使還錢, P' b1 ?! d* q  C
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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,
7 j  Q/ O( [3 V9 Z# L7 q+ S$ {  f連國家都係問人借, 不停發債券, 印鈔票3 s) g/ o" X+ e6 v+ f' A$ `* h
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 a% l! o" J5 b: m& g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
! I# S& b# @% P2 _( k咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
" m$ m; H; p5 c+ A1 B5 Z$ N7 y. c- O因為以前未生產, 先消費* w) q( R! }0 l, D
而家就要多生產, 少消費