0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 O. M4 X" D4 j* |' P8 V' |8 y
Why bank will sell 借據給第三者???
* A% ]% z2 u& R& W5 Y0 L  ~/ I8 ?I was so confused.....

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講到尾都係賺錢
+ q: i* w% l2 A6 Cso銀行可以不斷放款# m. L  ]* W# }+ x6 D2 Q0 ?6 t
美國的房貸問題散佈到全世界
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) B5 c+ {( m$ t% s) s  K6 w* [4 imortgage loan
. c* R2 B, V2 A5 t>conduit
* M  f0 l) B* G. l! c>RMBS(Residential Mortgage Backed Securities)( ?) E% K/ ^! {$ S
>arranger9 ~" a& E* _5 t
>CDO(Collateralized Debt Obligation)8 N4 x7 L  n1 [/ {0 F7 W% z
最後去到投資者

Kev

i thought it is the reason of rate of return.% s$ ]5 H. M* r+ S$ z
CDs could have different ratings, AAA -> F,9 T7 C3 H6 G& W) ?2 J
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, \7 ]1 m2 t# @$ c% p+ emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- w+ r3 C) y3 vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 c+ L+ e/ r' q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) Y0 m8 A1 D$ ^2 @( Usimilar to bonds, CDs trading in the secondary market have different value at different times,
, |+ d1 y5 {: I4 x: m" Tnormally the value is calculated by adding it's principle and interest. 5 k( T+ z, z! h/ i2 d1 t
eg. the value of the mortgage+the interests to be recieved in the future.
4 `1 i; r. l* k4 y/ i0 tbanks 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.5 j. Q: T4 v. d; u/ L$ H8 R, a
in stock market, it's the demand and supply pushing the price up/downwards.3 a! k, b$ S% @& y; p" Y
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 J8 ?1 t7 M& L8 r- O1 h
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., R* D# \; G; M/ h  A% _
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. * |  e- `" E  C; A
but the value of their assets did really drop significantly.
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7 V" i! R- D1 g& b: 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.gif
, @% o# N" j9 U% i% |Refer to last example,$ t6 l0 o5 N9 M1 ^; U' r
that means bank A have no money because we borrow 10 dollars from bank A 3 I) u4 A# X2 }! H
Because bank A doesnt have enough cash on hand
4 b6 _4 A$ s& w! \. @1 j& utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 d& t: z* {. P. B6 dso does it mean if E failed to pay D,
4 y5 U* ]8 y5 Hall the B,C,D,E have to go bankrupt?0 l( c( h) s' {! K$ W$ B

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( a0 f0 k- n: P* kthe multiplier just tell how much money created in a whole economy,
# u+ B) S! V' K; |2 k7 o5 u9 iin this case it doesnt really matter how much money is created, / A5 o: t7 e$ _  k  o* U1 L
it's the problem of the debt itself.
; n2 E+ D8 Z/ ~; g5 P4 cthe 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
7 K3 G) R% S" p, m# U) f小弟一直都唔明.../ ~4 ~" _, M. X

: O! J1 J+ \! q' g8 @' L! W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...8 A! ?1 A) O1 T2 X4 Q( [* {8 x
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敬請各師兄解答; |$ C- v# o1 @8 h- B

4 g& H& }* Q: R# w; FThanks

% K+ j  H& H, w那些根本係 紙上財富  
4 k) n  N% J' I$ {% H' j7 _* j) B! s2 v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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) L* p" z/ I0 d( V$ h9 nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. o* q! A+ z% e- @9 K' X當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ b  q- k9 J/ r, j: I( H4 d# r
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1 L; M2 c9 _" C: `3 ?
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% o7 f! {0 a+ d, }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, p  W8 x3 q, C: F% Q1 z
計番回報率就已經係50%,所以可以好好賺
3 w" g+ z. w& e前提係銀行之間要互相信任先可以咁樣借法
, ~6 d' z9 W8 w6 \同埋個市場既前境要係好先得
3 I# \  I# D* w7 P0 `& q但當經濟一差,公司估值趺了,物價不升反趺
, b; L% k- Z' I! }, f例如剛才說10蚊的, 趺到得番9蚊, ) P' m( S/ k+ x- m' ?5 p
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! C; l: J0 `) S" o
所以你就會覺得D錢好似蒸發哂咁# D, g+ x( \' O: a/ p8 u) o
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你都可以當標野咁諗, 個樣野多人可以狂升值, # x7 F6 O, o# `* T' s
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, 4 I4 K/ j% u& v" s; T3 b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! ~1 I. J/ b# J, L' a: Z2 v2 A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
; F" D8 |& B5 p: X3 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$ T& u& U7 |/ i4 \唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% m( ^; z) e4 {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 W4 ?0 _4 f1 J0 t* n* f% f4 R9 G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
2 z) R8 D& s: K* b咁你話d錢蒸發左去邊? ...

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正係咁樣
, X9 l8 F/ X% l' [# s- o) q: H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0 A) R& L4 X' r3 o# k' m& w# w; v
分分鐘佢地唔使還錢
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  i" x5 n7 @! P- P$ t4 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," U2 c) s2 L" W! ^% N
連國家都係問人借, 不停發債券, 印鈔票
4 ]1 k. S: U3 ~& a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 W* a2 a+ {0 Q7 ]( l* T+ 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.gif
" M) D2 r4 x0 ?+ U0 P- Y  d; G咁而家"爆哂煲"算唔算先至係變番"正常"???

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! v/ B6 b7 D$ q4 q! P1 d3 Z其實係...
5 ~  k* q# i5 ~8 @1 ^因為以前未生產, 先消費
) [- Y% D/ s* V而家就要多生產, 少消費