0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: q6 G) s3 r8 g* e. fWhy bank will sell 借據給第三者???
) A) X; r. ^. t: s7 F5 Q; E) zI was so confused.....

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; @" E! I5 `; @) T5 o# F2 M講到尾都係賺錢. ]- W( q) s% n  F
so銀行可以不斷放款
3 X3 X7 Y7 g4 m美國的房貸問題散佈到全世界. W! e6 _9 k) }1 o- R) o) T' m

! Q, g" o; W' ^- R( rmortgage loan
9 b1 l* X. ^, o" h  |, J; |>conduit
. s. [8 J# j, K" }>RMBS(Residential Mortgage Backed Securities)
# y( U$ S) {2 I>arranger
1 ]& y( q6 y6 v: C$ O3 N/ M>CDO(Collateralized Debt Obligation)
4 a! r# u: h; |1 q# l( D+ w最後去到投資者

Kev

i thought it is the reason of rate of return.
8 h0 K+ O  m/ q; E  nCDs could have different ratings, AAA -> F,
  M& F0 S) M& w7 i* ~more risky ones would have higher premium (interest rate) as a compensation for an investment.8 [# q! U7 m/ J% p
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- w' e; s4 R+ _/ R% I8 s0 pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- n" l# d% n* ?4 rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 d! X/ W0 u. T% b
similar to bonds, CDs trading in the secondary market have different value at different times,8 N  a+ d8 Q( _2 L8 C
normally the value is calculated by adding it's principle and interest. ' z6 J$ x% Q: z& V
eg. the value of the mortgage+the interests to be recieved in the future. 0 Y. U* A2 c! x# I5 N  D: o% J* Z  h
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.9 A0 l- e; @( I) T2 W  ^- g

3 @7 G2 H! K! k( ?0 Oim not quite sure if the multiplier effect does really matter in this case.
+ Q' _/ f% e1 ]. Vin stock market, it's the demand and supply pushing the price up/downwards.8 i! Y( t6 }) W# H4 k. Y; d7 o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 n) p* i, W" V9 J1 rA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; S3 n2 y- u2 D5 n5 X
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.
# G: R) \2 X% y( J) t9 ybut the value of their assets did really drop significantly.; F& t/ [8 f! G" D
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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' P6 q5 S8 j. a& r
Refer to last example,) k4 I0 e5 O* k9 n1 d1 p( `
that means bank A have no money because we borrow 10 dollars from bank A 9 \8 [$ n* X  D5 v& d
Because bank A doesnt have enough cash on hand 4 `& Q6 B/ a( n* g9 r/ V
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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& j3 c$ u& p! O7 O" L: k( i1 R; d) Q
* c' Z: D& W0 u0 n& Z0 WA->B->C->D->E
- g/ V! h% F) F3 W6 Mso does it mean if E failed to pay D,
& S' P! E/ S$ d& U3 s" Mall the B,C,D,E have to go bankrupt?$ T9 F5 _9 n5 U! F' ~# H! v: D, ^9 ^5 D
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the multiplier just tell how much money created in a whole economy,   ^" w  `: F6 `+ D! @/ H
in this case it doesnt really matter how much money is created,
5 ?+ X* e, Q& |- yit's the problem of the debt itself.4 i3 N0 \# Q2 R; I' p& G0 o
the 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
& Y/ N* V6 U# w2 C小弟一直都唔明...$ |$ y- @9 s% K  s. K0 u

" m* U5 s' W- e! G" ~  M全世界都蝕錢，咁邊個賺緊錢呢?
$ n+ d% w4 b3 V3 J, P6 e; r' }/ }8 H& w( A$ N. _
無可能淨係有人蝕錢無人賺架嘛...) V" j2 T' e6 S$ _- |' y' u& `7 h* [& j
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敬請各師兄解答
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; o8 @' {* v( b$ O: h+ UThanks

5 Q5 j+ X& V7 [  n, H; k那些根本係 紙上財富  
* c% Q) E# C. n6 g/ A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' J! Y2 p( }2 J4 z9 p' R( f; Y) ~
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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
- l" H  p( R- m; ?& o/ f8 A0 Y* T: ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ a% k* G8 j: e( s5 V" ^. I2 s
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
4 g9 ~. A1 T( M1 K- N/ g6 M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 F" H( g# s* p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& @. E+ l; g4 D2 l計番回報率就已經係50%,所以可以好好賺
9 `) l7 g. z( ~0 C- n2 k! Q% R前提係銀行之間要互相信任先可以咁樣借法
, l( ?, u6 h* e9 U' G同埋個市場既前境要係好先得
4 j* i3 m! X+ E但當經濟一差,公司估值趺了,物價不升反趺
  ~& H: q8 N8 H" G例如剛才說10蚊的, 趺到得番9蚊, 8 |% \6 n; J9 B5 @2 q
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ z3 D% V" _5 [! Y' O8 k所以你就會覺得D錢好似蒸發哂咁6 O/ E; I, t2 T) H2 E

- m! m$ Y5 ^. t9 G. G* x! {你都可以當標野咁諗, 個樣野多人可以狂升值, 9 X) d. U% U' v! G
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, 0 m1 H/ p" D! D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ O8 Y8 p: w5 Y% Z4 I0 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; a. A/ w9 V. M9 ?% f; H! u* Z
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 s. L. _5 l+ n9 i3 {
唔係d錢蒸發, 而係比美國佬洗晒未來錢, / r) W4 l& R! n1 p# y* x: x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% s# B, P' e8 Q; d* |7 L0 `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 T; D# K4 Y& T4 Z2 C咁你話d錢蒸發左去邊? ...

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* x5 e2 c" \0 k7 K& p: `+ w9 ^7 T正係咁樣
' F" Q. K1 ^# i( K+ v7 e  _6 A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
; {8 v& S1 b+ u* o; A: \+ |8 ~$ W: }分分鐘佢地唔使還錢  R# T8 Z3 X5 C- Y

# J: H* @$ \4 c+ y# k: w& t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% q% j, u3 I2 U9 V% j
連國家都係問人借, 不停發債券, 印鈔票8 V3 Q4 ?* @/ E+ U5 h, H7 B; J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 @1 a9 {, A7 z  y  s! h$ L
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. A3 g9 z% R+ P0 h, \2 F
咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 q6 n( n0 e5 x/ n4 u+ j; }7 M6 Y5 m其實係...
. a0 Y) `; U* z) F7 g) C  g因為以前未生產, 先消費
# O) ~& p0 C+ V7 g而家就要多生產, 少消費