0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% e( P- \+ X! {; y: ?5 P
Why bank will sell 借據給第三者???
- h& T' \5 ?1 E6 _- `I was so confused.....

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講到尾都係賺錢3 z" I8 k2 X' V- h
so銀行可以不斷放款0 p* o: K5 y4 c% j# D' W2 [6 G2 w4 l
美國的房貸問題散佈到全世界
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$ k7 o7 \) D. N1 d, emortgage loan ' Q4 q) C2 p: I* B& P# m
>conduit
9 `2 g" y: c6 B# C2 w) w' K>RMBS(Residential Mortgage Backed Securities)
; g( @7 d( E$ S& c3 ?9 |9 e  ?3 l; ^>arranger
5 p1 U1 v. K" P9 K( G* O* e>CDO(Collateralized Debt Obligation)
4 H% }7 H7 c% L7 I! K& d最後去到投資者

Kev

i thought it is the reason of rate of return.. J0 @* Y7 p7 F( ~" M' E  C3 d
CDs could have different ratings, AAA -> F,
6 \9 z' d! N) ~/ }5 bmore risky ones would have higher premium (interest rate) as a compensation for an investment.* V& r: ^' m% `
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- C/ R  Y+ u8 B" C; Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  }' m- o7 e# G$ {" HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! x- j' y" m. I3 G4 D4 g$ f
similar to bonds, CDs trading in the secondary market have different value at different times," X& Q' I1 p: M' Q# l
normally the value is calculated by adding it's principle and interest. 8 r) S7 U9 h0 E! [" v, \- b# g
eg. the value of the mortgage+the interests to be recieved in the future. 0 w; a' X( W: x3 Z% }, A1 R% E0 R
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.. A, W# Y" g7 A# w1 J4 W! D

' u3 z# P/ Q- v5 e' t1 O! eim not quite sure if the multiplier effect does really matter in this case.  o" N4 r7 m( w6 {' Z
in stock market, it's the demand and supply pushing the price up/downwards.2 F7 o2 }. P* p2 R6 V. M! y/ r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( \/ M" b+ G: C4 d$ GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. i; P( J' f! R$ _6 N% N, i
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.
/ T- M# P. p2 a1 L% ~( H* Ebut the value of their assets did really drop significantly.
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, D: x" v' v7 Q2 T# @% Z[ 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 Z; k$ o. w; Q6 M# _
Refer to last example,' |1 b& D+ q' A  B- i/ r
that means bank A have no money because we borrow 10 dollars from bank A 5 u- M/ x: g& _4 K
Because bank A doesnt have enough cash on hand 8 l9 E8 F- \; T! l
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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. M* M% L3 h5 i( t4 TA->B->C->D->E* t8 S0 B# O  ^8 N0 h. R
so does it mean if E failed to pay D,
9 C# k" s" k! k. e( j. m( |2 ?1 V5 g" T, Ball the B,C,D,E have to go bankrupt?: V5 p' I! v8 s" @1 E% \# ~3 d

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3 E/ R: G: G$ y; H, l/ @* Qthe multiplier just tell how much money created in a whole economy,
) E6 e. P5 F/ M5 A5 pin this case it doesnt really matter how much money is created,
( t7 Y, ~8 Z% b, cit's the problem of the debt itself.
9 }) G9 C" T& Y0 lthe 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
; a7 M) |; ^; k, F5 T, S小弟一直都唔明...3 \) P. K7 Q7 Q2 u. [
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全世界都蝕錢，咁邊個賺緊錢呢?( _/ _' `6 b3 S9 ~0 u7 c) T

+ `1 l7 u2 x/ s2 ?" E# K. U無可能淨係有人蝕錢無人賺架嘛...+ K  V: }1 h- Q% k

7 @; g7 {& ~% L6 y# [敬請各師兄解答
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Thanks

* d3 u$ c7 r) r: n2 ?7 C4 `那些根本係 紙上財富  
1 c: A3 u2 s& U6 v$ D: I  b4 r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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. V9 ~$ D  T$ w/ {% K0 bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
+ a5 n  ]5 L+ q& |當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- x6 ^/ z* q' @1 z7 K4 w" A6 s- ?3 ]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
$ B( B4 }: ?: N5 v) K) @個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 J& K/ ?, w: p, V2 n1 `$ {. [6 ?! E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 H$ k& [( r/ N9 S+ t
計番回報率就已經係50%,所以可以好好賺
3 B7 R& N+ r9 ]前提係銀行之間要互相信任先可以咁樣借法6 U( L/ U8 X4 a. I! _
同埋個市場既前境要係好先得& x. ^0 s% J3 i5 w6 W
但當經濟一差,公司估值趺了,物價不升反趺8 b' b* i7 [) Q0 {2 N
例如剛才說10蚊的, 趺到得番9蚊, 1 W1 O, |3 Y' `$ l
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 [( K8 |5 ?2 A+ P1 w6 M1 l$ \所以你就會覺得D錢好似蒸發哂咁
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& C( y* L" W. L' ]& y- t- D你都可以當標野咁諗, 個樣野多人可以狂升值, ) ?" R* @# o( O: U; ^
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, 6 y, i" K, b' ]3 H+ j% R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& X5 [8 Q6 m2 X) W9 h; M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 Y3 J* b; D. F6 [% V' 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.gif
& r+ @7 u8 x/ v4 R4 ^唔係d錢蒸發, 而係比美國佬洗晒未來錢,   [1 e8 I0 K4 ~- H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ b0 p: ?! ]: I6 b! 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, h* p7 B2 V4 h% }# x/ T6 L. @
咁你話d錢蒸發左去邊? ...

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, g* P. b) M! B9 U正係咁樣# f! N1 L9 ^+ 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
1 |$ Y8 p# y3 C) w8 m; w分分鐘佢地唔使還錢
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7 D0 b3 H: w, t( g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,
/ U. K+ r" Q4 w- b; G連國家都係問人借, 不停發債券, 印鈔票
- _: H9 ]/ c" J# I+ }9 M0 \  T; y一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# @, {( j6 v' r, Z. J: x, U* T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.gif0 g1 q3 i* N( |' |) s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% N1 o& ?6 T/ r; a
因為以前未生產, 先消費, }+ H3 i  I; i+ r% o. `% A  J# a' f
而家就要多生產, 少消費