0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% x2 Z+ o0 Y2 ?
Why bank will sell 借據給第三者???
7 T& g  N, ?! n& GI was so confused.....

* i4 w3 [6 W) j- o# N7 G0 U
6 j* w) W6 [6 Y& y1 ?+ ?講到尾都係賺錢
: A3 Q. X$ i( T2 F. iso銀行可以不斷放款6 [9 p5 ?+ k- \* \
美國的房貸問題散佈到全世界
7 n7 E% V) O2 w3 `9 b
6 q  j' D; D! J. }7 O  ?9 i: Ymortgage loan
; ?. A4 V; _) C8 k" k! e1 i. S5 H/ G>conduit
# c* c# [$ C6 }; ?, Z>RMBS(Residential Mortgage Backed Securities)( V! X/ X; E0 P# V& T8 A; e
>arranger% Y- z4 e! |5 x3 i9 o7 @
>CDO(Collateralized Debt Obligation)6 U) P, j4 i- I% _8 Z1 P4 K
最後去到投資者

Kev

i thought it is the reason of rate of return.
$ x1 ?* |- q' V" [- T) WCDs could have different ratings, AAA -> F,7 P: i  W0 }' ~" |$ a
more risky ones would have higher premium (interest rate) as a compensation for an investment.. \, v- {0 u4 e. `" u/ A3 W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! `2 `, k3 p4 D4 q" Q- Y# |
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: k$ V4 ?; }3 @3 N5 }, w0 J. K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  v5 |4 \- C, @; }" y  r( _similar to bonds, CDs trading in the secondary market have different value at different times,
8 a  F) r' E5 t  wnormally the value is calculated by adding it's principle and interest. 9 N" k+ j$ q$ l- _; ?
eg. the value of the mortgage+the interests to be recieved in the future. ' x! o3 j' c% K! ?" V
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.0 q. P" ^0 V2 L

; r. E, z% N# q& R1 D7 o7 Fim not quite sure if the multiplier effect does really matter in this case.
; z& A3 Y. F8 n& b4 ]9 w) {in stock market, it's the demand and supply pushing the price up/downwards.! P! U: \7 C, ]9 }& Z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) i8 A- c; ?! d2 r2 p4 ]$ o) s* uA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 S4 `9 ^( B1 o' R# y
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. 3 ^) A7 p7 [* K. k" o
but the value of their assets did really drop significantly.
) Y( x* I- {; M- z' J. x7 g" b+ s
[ 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' j7 J* E3 F" Y* _5 P; c
Refer to last example,4 g& K; D6 k$ i
that means bank A have no money because we borrow 10 dollars from bank A
/ M8 L, p- B: @, C$ b8 K" qBecause bank A doesnt have enough cash on hand , J- M6 m/ B) J6 o; Y/ q6 o7 q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

8 y" }  E3 Y& D  ?
1 B  @3 U; k9 x

& Q' ]* k. T) a( r0 U) \+ a4 F" |! XA->B->C->D->E
, W. @- r, v3 A( p& rso does it mean if E failed to pay D,
4 g: O0 p; k- E; z- q# Kall the B,C,D,E have to go bankrupt?3 |$ F; s+ \0 K& I: P& j. T4 `

1 n) \  l9 d5 N+ e  b# F  E3 `+ F" O) }  B) S
the multiplier just tell how much money created in a whole economy,
" a, n3 V/ q+ Din this case it doesnt really matter how much money is created,
8 i" H0 {8 A$ _/ d: M. y5 B0 `it's the problem of the debt itself.
2 @1 q0 u/ R$ V$ Z& S  P; 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  w9 t2 {; ]' q+ g$ Q" {% |
小弟一直都唔明...1 ^# b  `+ }) _2 [8 W& p
6 j6 T5 W% o% U+ u
全世界都蝕錢，咁邊個賺緊錢呢?! }/ X9 H3 g' Z$ W& P2 ?/ a

  Y; _0 e6 r8 O# G無可能淨係有人蝕錢無人賺架嘛...) T0 k! \6 x; r8 e2 z$ t& U

' M% w, y/ k8 z% e1 ?& O6 y! I; Q  I# q敬請各師兄解答
# q9 S- t/ M" m1 ?( e6 G) F) Z" S! ?; F% ?' ^5 g& e
Thanks

; W0 o9 W* q$ h/ K那些根本係 紙上財富  
+ }! R% z- |0 s; n& t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 graphic5 W" y: n8 j# Q" K( L3 |
0 }" u2 U# q- A6 \) B
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
3 f" J- P" P, ~+ e+ j6 r2 h當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, l9 q; t, ?7 `
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
' @" G$ _) S- B+ S" V, s個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 a9 H- a/ T  Y3 {
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  Y  A3 e# b& D+ G% H- M7 k
計番回報率就已經係50%,所以可以好好賺* w& ]4 |1 D% ^* r
前提係銀行之間要互相信任先可以咁樣借法
9 k# e9 ?* |7 H. P: s8 `同埋個市場既前境要係好先得) e/ V# T* ~- T& |) a5 O$ U: R
但當經濟一差,公司估值趺了,物價不升反趺
  d& f( f, v8 }3 p; \4 t例如剛才說10蚊的, 趺到得番9蚊, ! ]1 X: R, [* F( @
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ b6 A3 I1 @1 \: q. W4 k
所以你就會覺得D錢好似蒸發哂咁
) ^& @7 A3 _4 R3 B, d: x( d( ]% I! Y# ~+ L: X4 l" J7 A
你都可以當標野咁諗, 個樣野多人可以狂升值, ' c3 ^( r0 U* _. W% ?, V3 ^
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,
1 ?" c/ O3 z. g6 ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 _: F" j* E$ S5 G9 h' W) o
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" }" N* H" g$ d  R6 Q  }
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
4 a% ~" @( ~2 g* d+ U$ h8 @+ ^唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' J( L" q( I, }+ s  U% t" J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( g+ X: |+ t: O( b! V$ R" H5 Y
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4 {6 U) J1 s5 `' K7 u
咁你話d錢蒸發左去邊? ...

; _: x% S' s9 e8 r0 q2 p- m

' D( T( p1 q2 x' G* ]3 Z正係咁樣
$ c; B+ V; X$ f% O& u% h  }1 {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- _+ p! ?+ j7 H! ?" R% x
分分鐘佢地唔使還錢
' c! z, V( B; N8 ]' A% v  P& j" \4 _! u2 @4 B/ h) _
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,
2 j6 x  L( A. T3 e% T% r1 a0 A連國家都係問人借, 不停發債券, 印鈔票
, _1 e1 O) j6 o. ^, t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" V; w7 Y+ ^& }% R+ }" w3 H
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: r7 ]% n  B  [: q. j5 {
咁而家"爆哂煲"算唔算先至係變番"正常"???

. e( h2 D8 h; l' m. l
0 \4 C, P7 Z. r1 [1 l其實係...
- E8 r2 ~/ \! c- V& Z$ \5 U; d) e因為以前未生產, 先消費+ F& S2 e# \& b4 W
而家就要多生產, 少消費