0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ S9 P- {+ ?5 E, y9 i
Why bank will sell 借據給第三者???
8 p1 t3 n* e( t# w. @9 B. VI was so confused.....

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# ]. ]0 L' i  t4 N0 q; D講到尾都係賺錢
# L) n" J# F( g% Zso銀行可以不斷放款0 G4 m* v, E6 z5 j$ _
美國的房貸問題散佈到全世界
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9 s; H* J# j3 emortgage loan
" k6 M5 X/ U% G>conduit6 N2 G: m; ]# V/ U( X6 a4 W0 y; d
>RMBS(Residential Mortgage Backed Securities)& H6 N, [, o; Y/ u; E
>arranger
( m$ f6 J/ ?* k; D, b9 D, Y>CDO(Collateralized Debt Obligation)4 Q9 u% S0 |9 E8 |. I% t% h. w
最後去到投資者

Kev

i thought it is the reason of rate of return.0 O5 G' C0 ~+ ~3 ?* d. B
CDs could have different ratings, AAA -> F,0 e: K0 Y# k) v, s2 i: d9 l
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ x, T3 x2 g/ k" Z2 t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 E1 l8 B7 o4 M' [" ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 d( z0 ?$ t$ z. c. @. C( X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 d" S  x. z3 K1 asimilar to bonds, CDs trading in the secondary market have different value at different times,8 S  x1 i- r4 y- E4 q1 ~* ^9 k  O* W; \
normally the value is calculated by adding it's principle and interest.
# z1 {1 h/ e6 n" n# reg. the value of the mortgage+the interests to be recieved in the future.
7 u+ w2 A! [% q2 h/ y4 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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* ?5 P' e( F8 l' d! C3 a& A7 c7 `im not quite sure if the multiplier effect does really matter in this case.
" a" G! B' @* r  j( j/ p% cin stock market, it's the demand and supply pushing the price up/downwards.
' D. B0 F- I; m& S( ZFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 l1 b# \% m- N& jA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 g7 F* ^8 q# z( g* ^
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.
* o6 q. G( [$ P4 U- h9 Kbut the value of their assets did really drop significantly.+ p& I1 v! Y% j
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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! Y+ g: L+ H3 H& ?$ }' k3 {
Refer to last example,
3 g# N5 Y" ^4 A% \1 hthat means bank A have no money because we borrow 10 dollars from bank A , z& r9 F4 w4 S7 O
Because bank A doesnt have enough cash on hand
, ~  G  r9 \6 ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, U4 X8 }" s$ r
so does it mean if E failed to pay D,
% s4 o' K* x! @7 D, L7 @all the B,C,D,E have to go bankrupt?/ c' C* s' J, @' S+ ]" J3 U# p$ h

1 r5 f" v+ B* D! o' `/ `9 h# o7 B/ C$ z5 N' x. ~8 _+ T
the multiplier just tell how much money created in a whole economy,
2 K7 c, h* [. W6 w! jin this case it doesnt really matter how much money is created, & `% b. {0 C$ {2 ?* ^- U% K
it's the problem of the debt itself.7 o4 \3 e6 C  X. V) s# ?* X
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  `* S& R0 a& _$ [% ^3 X5 b2 @
小弟一直都唔明.../ G# H1 R7 `5 T- _/ ^, }) U1 ]

' {8 H" G: m; \4 z5 |, E5 T) p全世界都蝕錢，咁邊個賺緊錢呢?
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) K. V( N6 o% h$ g無可能淨係有人蝕錢無人賺架嘛...) T/ e* Y! P3 O8 P+ k8 f
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敬請各師兄解答
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' @  f$ V4 Y3 C# ?" v1 kThanks

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那些根本係 紙上財富  0 a; u# G3 U7 s$ n# ^5 h  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
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( r1 ^; O6 j0 Z! a1 O7 }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4 E6 y+ V3 t3 d7 C) w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# B, k1 z9 y4 l* h6 {) j. B' n6 B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" x6 y1 b* C" ~; `  n- Q- l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% a: l$ z( W4 P9 e. j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ r8 a. [' m$ W% `- E2 T! d" H計番回報率就已經係50%,所以可以好好賺& d8 c) f$ O7 J# b; g" U3 E
前提係銀行之間要互相信任先可以咁樣借法1 l8 J3 {0 G3 D9 G' J$ `7 o8 @8 W
同埋個市場既前境要係好先得
) h0 X9 w9 h9 ?( e) Y但當經濟一差,公司估值趺了,物價不升反趺
$ d' W* H- j% R; q! P例如剛才說10蚊的, 趺到得番9蚊, # X0 N* B7 s% T* K4 X
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; j2 K) G4 ^! u+ a. b/ p
所以你就會覺得D錢好似蒸發哂咁
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7 g3 _7 E( d/ I8 @; [# C) k2 O0 s& ?% r你都可以當標野咁諗, 個樣野多人可以狂升值,
: x8 i0 ^. Z/ O( O4 b3 W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, ' l5 y  n+ M7 N; O) V5 E+ B( Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  Q1 B7 C+ C8 n; b6 ^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) J) r) g8 c- l, I: @7 ~
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$ j2 \/ r3 b! V% o* f6 X  q9 U9 D唔係d錢蒸發, 而係比美國佬洗晒未來錢, + g0 o* T' S+ x+ y* T. O, e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - E# Q  x1 t8 O% k: J
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; Z& _" C) v6 J3 V5 f9 P) ?
咁你話d錢蒸發左去邊? ...

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( F. q$ Q6 T" a0 X! t正係咁樣7 y8 {% \- @! t+ N! F2 c, U( E
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
" O$ ^5 |5 b+ ^& k分分鐘佢地唔使還錢( o. L1 e# h5 Q2 f) r' \

+ R( n0 d' T/ F- 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,
) N& h3 t, i5 C* B) N$ C* _/ R連國家都係問人借, 不停發債券, 印鈔票+ G2 _  R9 T6 d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ y8 a% ]  t0 B, \: |" j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.gif9 C% a/ ]: \; K- R7 p; c; i
咁而家"爆哂煲"算唔算先至係變番"正常"???

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! g3 q9 x, y* t/ Z/ R- i其實係...
) d3 k* v0 Z. O" t; F" e+ d, A因為以前未生產, 先消費( j' f7 D8 b7 k0 P1 U4 V. I
而家就要多生產, 少消費