0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# c* t6 l& h  ^9 I
Why bank will sell 借據給第三者???& K8 C5 T0 C$ Y1 \+ U6 H6 U
I was so confused.....

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講到尾都係賺錢
. ?5 C8 H+ {# @; x9 pso銀行可以不斷放款
6 x9 x5 y0 }, T, b! ~9 Q& Y  c美國的房貸問題散佈到全世界# X0 k) v; A1 v6 Q6 N$ ~' `

6 q5 r3 l, S. J! U/ Rmortgage loan
# i, Z7 T. u) |/ O( A0 U' F, g+ [>conduit
4 T/ r( u. n3 V7 |. s# U>RMBS(Residential Mortgage Backed Securities)# o+ V& i( q) u
>arranger/ j" R6 A' J+ H- k) F2 }
>CDO(Collateralized Debt Obligation)
4 l) N: ~% v; i7 h* P最後去到投資者

Kev

i thought it is the reason of rate of return.8 p4 v7 l2 J0 y9 I
CDs could have different ratings, AAA -> F,
9 i3 t- _- u. wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& `; I: P, w5 N  E3 Ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- R# l  H' }* M' \1 }- rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; C3 z2 f( K+ X! {
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ \0 r( h6 f5 B7 Ksimilar to bonds, CDs trading in the secondary market have different value at different times,' z. d: Q% ~" e) O. U+ C( I
normally the value is calculated by adding it's principle and interest. 5 H) ?) f9 b  ^* G
eg. the value of the mortgage+the interests to be recieved in the future.
% J( ]% C: _8 N) t- J" d- D) Qbanks 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.
3 N  O7 c. A4 A& S6 R+ @/ win stock market, it's the demand and supply pushing the price up/downwards.
6 C* E( Y: s0 s' [# E, UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& O5 C1 K( q6 _7 c$ p
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( F! E4 b" O' K( mThe 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.
& l7 `2 e/ v1 W5 ybut the value of their assets did really drop significantly.* c% g7 T5 G3 b* S- h
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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 S4 {# ?5 a+ G/ S3 Z
Refer to last example,, g& ]* P8 w: l8 P# m- r
that means bank A have no money because we borrow 10 dollars from bank A 4 V5 M1 J: J! U
Because bank A doesnt have enough cash on hand - ^9 _4 T+ C1 G$ H5 G. _8 w
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
" r6 e$ t( D+ E/ M" Gso does it mean if E failed to pay D,
. d# Q: t6 |- T" C  A8 X. eall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
3 y$ h' E- b2 g3 {5 F4 vin this case it doesnt really matter how much money is created, 5 V/ L6 @7 z- Z9 e  {
it's the problem of the debt itself.
  b% C1 D, W/ O* Z& r6 c4 A0 Uthe 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% W9 u: M! B' A* M4 S1 {' y, H
小弟一直都唔明...) y2 B* o$ [7 d3 }1 a6 M* X
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全世界都蝕錢，咁邊個賺緊錢呢?
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3 @  u. {8 [4 _* H/ r/ l9 P, J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  }* K$ p  h0 G

0 Z% H/ i! @( }Thanks

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那些根本係 紙上財富  
8 c/ L) S* X7 i3 q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/ V5 m* A7 U/ d  }# A6 \( j# r- |
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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
8 r6 M+ }- C0 E當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, O7 ?& P; z# Q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 g! X/ H4 B- @7 g# M( y% I個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 s" k2 V2 N- m+ w) _+ e扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 }0 ~% u" W+ y. m計番回報率就已經係50%,所以可以好好賺1 i/ g" f" ~7 K& i7 Z
前提係銀行之間要互相信任先可以咁樣借法" Z1 E$ e' G+ ]) F& D
同埋個市場既前境要係好先得  L0 y1 _2 T, M6 b
但當經濟一差,公司估值趺了,物價不升反趺
" C, S" e- x( d2 g. y例如剛才說10蚊的, 趺到得番9蚊, ' @( h% m, Z" i
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 W4 r* ]- H- a3 X8 k8 w' G' {0 m! A所以你就會覺得D錢好似蒸發哂咁0 B, m; f, c* W# g1 ]' b( v
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你都可以當標野咁諗, 個樣野多人可以狂升值, + T1 Q' y6 {1 r- _- x$ x( R
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,
# m$ O+ b1 f$ ~3 y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 Y! y- B- G5 ]4 I7 I! A1 s2 k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
+ U, o1 v6 M; M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.gif2 @- n3 J# r3 ^; b
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # `" W5 m1 K7 u0 a# L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 ?, ^. I: n- S# s
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* o7 l, a- P6 M& A% a0 T0 q
咁你話d錢蒸發左去邊? ...

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正係咁樣7 v/ w' Y, V! w
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
7 R! @$ b) f! n1 O2 Y% U分分鐘佢地唔使還錢
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8 f+ K& S; ~$ w2 r; S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,
, v9 ]1 r! F4 s連國家都係問人借, 不停發債券, 印鈔票
5 h5 q8 v5 A* Z' F" o一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) J7 K6 r6 R! I7 x0 N: Q# Q  s
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. ~. r9 ~  e5 O8 i) X
咁而家"爆哂煲"算唔算先至係變番"正常"???

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& r" `/ s3 X- I. ]- y8 t0 G7 d其實係...
) K8 ]- W" R1 D& l因為以前未生產, 先消費
! }2 P; H3 C& W3 F而家就要多生產, 少消費