0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) l$ Q" R7 d4 g
Why bank will sell 借據給第三者???
1 L( p0 A- \& i; mI was so confused.....

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講到尾都係賺錢
/ c. ^$ s) W0 @( h' m: V5 @* Qso銀行可以不斷放款( t3 J  o. h1 ~' R
美國的房貸問題散佈到全世界- `( R7 X  [$ z$ |$ c/ X+ g

, j, P4 }* S' y( N5 i$ f) emortgage loan 2 B2 L# ]4 b$ Q6 L
>conduit" i, n- o; r+ C/ S
>RMBS(Residential Mortgage Backed Securities)
& g" {+ q- V, t3 A3 y>arranger
7 I. Y- H2 C4 f/ X>CDO(Collateralized Debt Obligation)
( r* W0 O. q& ?) r! h: G/ U最後去到投資者

Kev

i thought it is the reason of rate of return.; P  t" B/ {+ z3 X
CDs could have different ratings, AAA -> F,, S9 h+ n8 M( U; q
more risky ones would have higher premium (interest rate) as a compensation for an investment." ?4 b! d4 L0 s" `7 r- ?' E' i
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 H5 H! m; R) M; i% S5 Z: [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: M6 W9 f; F' t6 [: o9 d: M1 \" V" cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) M  N+ `" B8 x0 |% vsimilar to bonds, CDs trading in the secondary market have different value at different times,4 e, E. [- D6 n5 t5 o
normally the value is calculated by adding it's principle and interest.
( T7 E! |5 u6 r& Ceg. the value of the mortgage+the interests to be recieved in the future.
# f9 ~3 n& h2 I. l1 z* B/ Ebanks 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.2 z5 a3 z5 s% O$ p+ v
in stock market, it's the demand and supply pushing the price up/downwards.
0 Q" S1 V1 f) d+ j; _7 d7 XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 z7 U  S9 y  M- p- A" I
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 k9 G  `  B0 N4 f" l: u' }
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.
( O3 r+ H/ x$ {9 [+ R1 `9 R2 z6 z1 hbut the value of their assets did really drop significantly.4 T2 w8 `" ~2 w: B- i5 v

1 S$ w9 p2 U2 ?5 F1 j[ 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# g* W" z$ ^* j
Refer to last example,
7 i7 \% T2 H# M; J2 ^$ H8 U! k4 Gthat means bank A have no money because we borrow 10 dollars from bank A
! x( m; P) k2 F9 c6 A  VBecause bank A doesnt have enough cash on hand
0 Z* z7 r7 _$ ?5 w) jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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( X5 N5 f' G! x: eA->B->C->D->E
4 x( S6 U$ P" j  f8 E2 Jso does it mean if E failed to pay D, 0 W& {4 |9 [: \( t" b  d% i, ?
all 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, % O# \6 f+ a, Q0 a
in this case it doesnt really matter how much money is created,
) @& w' V$ M  x. Uit's the problem of the debt itself.
, S0 t7 F4 }, c/ h& bthe 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% |' j# R+ A7 Q/ I
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?4 T) ?0 J: ^# Y; n2 ?' O

! w3 P: g/ C6 d5 E7 P' T2 R1 x無可能淨係有人蝕錢無人賺架嘛...
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! ~" x/ ~2 k/ |1 q敬請各師兄解答2 A  S$ U0 \/ }7 I8 l

& ^6 D0 J5 \$ v4 F; z% X5 H, \) k1 {Thanks

0 k) x) B+ f) s- F9 e4 K1 Z5 a那些根本係 紙上財富  : R$ d* `, t( E( q+ V4 l
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; r7 s" Y$ ?9 E! j  O( f
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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 M/ [5 U5 m; x7 v
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% M' g% L) Q. q; v( l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3 O# X% l/ x7 ~( s" k. W
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! w7 p9 U2 Z% @* L9 U3 f
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+ v) D5 Z; K, Z- B" u計番回報率就已經係50%,所以可以好好賺! z# R. n: _- W6 u1 }- s& n
前提係銀行之間要互相信任先可以咁樣借法
  @% S. c, S0 X* m$ M6 C同埋個市場既前境要係好先得6 d; |* v: B: o
但當經濟一差,公司估值趺了,物價不升反趺
+ y. u) u- v: [5 A  Q4 g0 J例如剛才說10蚊的, 趺到得番9蚊, , B) |9 d' x$ Q
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ h0 y/ b! V; ^6 v7 [$ M6 a9 T所以你就會覺得D錢好似蒸發哂咁/ e, J5 Q3 F/ I- j# z

. @5 {, n% ~. ~4 B( Y# w你都可以當標野咁諗, 個樣野多人可以狂升值,
6 }2 ]# D' z/ X! ^$ q2 E3 G/ l* c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,
+ z% |5 V5 v& c) A7 q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  R2 }7 o" W% m# q' h% }. e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9 L: [1 m: M" h  Y" ~! G
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+ M, }$ _9 T8 w: t& }2 X
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . ]7 V, v" A" {% W! W  x4 f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  v( m2 v& _0 i  V  O3 K4 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1 Y, _7 c! g( `% A
咁你話d錢蒸發左去邊? ...

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正係咁樣% d- l( v( i$ I/ r
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
# u1 D8 s' o( o分分鐘佢地唔使還錢7 [* Y4 }* E% }9 w6 E$ Z

$ b) C5 W: p9 ]2 X  y; r4 r) {: @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,9 W% q6 j% G7 h
連國家都係問人借, 不停發債券, 印鈔票
) d7 \8 h: [" \1 x8 t9 |, u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產& J: a& J! M; M& o4 n3 Q
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' I7 ~$ B& _  L/ s' i
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...- A8 [/ \1 l0 t& ], \
因為以前未生產, 先消費! R& J* Y, X1 q; ]  @: p9 X* ^
而家就要多生產, 少消費