0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" Z0 M! T- Q& F
Why bank will sell 借據給第三者???
4 e, S: B  G4 N* F4 n! RI was so confused.....

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講到尾都係賺錢
$ k4 \, n) n/ E9 mso銀行可以不斷放款
/ ?% d, k" t* L  s" H( e0 g% f1 n美國的房貸問題散佈到全世界6 r% v- X1 D6 J9 }3 b
$ ?7 S/ I) T0 E. w
mortgage loan ' e9 Q5 [8 _+ ]8 M1 m8 s. E
>conduit
7 v- u+ ~! Z6 k/ F" _  a>RMBS(Residential Mortgage Backed Securities)9 t0 |' C0 o0 z. u2 ?6 y+ o  ]
>arranger
2 R" Y: y" @( q) g>CDO(Collateralized Debt Obligation)
: T& M2 }! Q$ h; I6 x3 j: S最後去到投資者

Kev

i thought it is the reason of rate of return.
% A4 d* T  G5 b6 i6 R: v4 `9 V& VCDs could have different ratings, AAA -> F,. L* E! J" ]5 C- v  G
more risky ones would have higher premium (interest rate) as a compensation for an investment.& r1 }: D7 e% c, o8 J& K" ]
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# j! N9 N* v( I: n9 F# l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' z2 S) n6 y- ]' G3 }Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: S5 v. b  r6 A$ L& h- p
similar to bonds, CDs trading in the secondary market have different value at different times,1 i5 F! M5 |2 Y$ t" H
normally the value is calculated by adding it's principle and interest. 9 M5 p% z8 [& D" Q3 r$ `- L4 i9 P
eg. the value of the mortgage+the interests to be recieved in the future. 8 ~% w+ {( [4 T0 r6 ~7 ]6 h. 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.
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8 p& B2 w1 J4 C! p! P. kim not quite sure if the multiplier effect does really matter in this case." a8 K7 Q7 U& w4 B3 z% d) g
in stock market, it's the demand and supply pushing the price up/downwards.; e0 J7 H' o6 s- E: }8 u
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 Y( b* u* m! u" F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* }- E% H. H0 P" W- S( ?7 FThe 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. ! f* W* F& u# I- m$ S" H
but the value of their assets did really drop significantly.# w& l" D& {1 ^$ i" z0 a7 I3 K* z

2 k% x# K) J, f4 y1 C[ 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
5 n5 U! i1 v# i8 O, \. eRefer to last example,( }' B9 G, z: P' N! X" Q. ~
that means bank A have no money because we borrow 10 dollars from bank A   P! _5 y& L% P, O4 ]7 q/ S0 Y" P
Because bank A doesnt have enough cash on hand
/ L& w8 u( x% Atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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: J, B; d2 Y0 E5 H: o) Q1 A' ]A->B->C->D->E. _( }. L5 m+ ]% Q/ i) y5 T4 W
so does it mean if E failed to pay D, % Z" K- L2 N+ s+ p/ d, E
all the B,C,D,E have to go bankrupt?
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$ L2 X1 K0 F1 L- T! Gthe multiplier just tell how much money created in a whole economy,
; x+ ], b- ~, y1 L6 [, B, i$ Z6 ]in this case it doesnt really matter how much money is created, & M, |* b: x2 s  r, C
it's the problem of the debt itself.
( s0 Y& d* k3 f7 J6 S; Gthe 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.gif3 d1 {' j' q) j. T5 F2 r3 [1 M5 ?' o
小弟一直都唔明...( d1 E& ^, A$ a5 _
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全世界都蝕錢，咁邊個賺緊錢呢?" r6 X0 `: c1 M7 B; t3 B
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無可能淨係有人蝕錢無人賺架嘛...- A4 A% N  j) h, t
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敬請各師兄解答
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Thanks

) w1 R; l7 Q# z那些根本係 紙上財富  : w5 |; {" x0 b! h* X
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( A+ P, R( S  [9 M; `' w

, \$ C( p% k  W! Jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
* r. j; V2 Q2 k0 w  s3 P當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( x: x! y  B: M; w5 I8 ]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
$ I: w3 _; y+ Q7 E" V% N個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, X, H2 T$ r& y4 {6 j' M& t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" O! h1 ]0 e7 F* W/ F5 E計番回報率就已經係50%,所以可以好好賺# |' c( |) S3 h9 `
前提係銀行之間要互相信任先可以咁樣借法
; I3 b6 M  a' m- k同埋個市場既前境要係好先得* n* s7 \0 e8 w1 _9 |$ u
但當經濟一差,公司估值趺了,物價不升反趺  P" g3 |* |9 C
例如剛才說10蚊的, 趺到得番9蚊, # d: O  X4 E+ ~# \" A. h0 n$ Z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ U  }8 i3 i: L& C% u
所以你就會覺得D錢好似蒸發哂咁$ A$ T9 [, h. Q& ~

( J8 ~' @3 H2 _" n8 S/ Z- d' |# l7 A  J你都可以當標野咁諗, 個樣野多人可以狂升值, - g- Z" c+ N# Z8 z
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, 9 @$ a" q# n" L; `( b$ t, Q7 g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 H, |8 Y* s9 S! Z7 }% F9 `0 L% A1 ^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
/ q2 `; `' L" ?7 _2 J/ F( G: ~2 |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
' [9 |* N/ K9 P$ ~1 p9 T唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, L7 I) O3 V6 Y7 m# {2 Y$ \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! ~# a. |1 ?5 t+ \% P
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 j8 Y1 w& e) k8 Z' b+ X. ^& z
咁你話d錢蒸發左去邊? ...

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正係咁樣6 O) l1 Y+ d! C' R+ B" O2 I; s% d. H3 @
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
- U8 w* j3 Z8 q分分鐘佢地唔使還錢
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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,
" o5 z3 k0 H5 H2 i1 C連國家都係問人借, 不停發債券, 印鈔票
8 e/ N3 _4 _( V: k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* r) V4 A2 S: G) o5 |# I0 w
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
* m! L9 N+ _3 U咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 R) U, X4 I8 d5 y' ^其實係.... {! |8 a/ R! H3 K+ a6 M
因為以前未生產, 先消費
+ w' ?! G% Y6 q) Z! h7 ?而家就要多生產, 少消費