0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, Z1 W8 S! M" V" t5 mWhy bank will sell 借據給第三者???
# O/ W. ?# I+ ^& GI was so confused.....

: }8 I% b: c- y7 D+ u3 _+ q/ \: r7 y
講到尾都係賺錢
3 o- E9 |8 G6 O; U& {: D$ {5 @4 F5 iso銀行可以不斷放款+ L8 S4 P. E& C, u8 u# a
美國的房貸問題散佈到全世界1 a( n1 p+ o% _; \$ R7 b) g

5 W* o' v& v( x+ a* M3 i8 b/ {' xmortgage loan
) j8 i) t  u1 }% M2 `>conduit
; H8 l" R' \  \) W, ^>RMBS(Residential Mortgage Backed Securities)
+ x: @1 c6 d* w( v>arranger
1 P, d2 N* f6 l! x>CDO(Collateralized Debt Obligation)6 }" g- ?) O* p( a6 G
最後去到投資者

Kev

i thought it is the reason of rate of return.& x. V2 U% I, s5 Q" _9 M: L
CDs could have different ratings, AAA -> F,
' k/ m+ G" T4 ^more risky ones would have higher premium (interest rate) as a compensation for an investment.
6 m8 t+ M5 v! O7 a) @: B! N( }7 \! vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 k7 Z& ]' C, h4 Q" [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: h' @0 p7 C1 \( b* o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." m- ~0 O3 m& U/ A2 ?
similar to bonds, CDs trading in the secondary market have different value at different times,
) O0 ^% e- W' j" _' ]# jnormally the value is calculated by adding it's principle and interest. 2 D0 b! }6 R$ x6 Q7 C. y/ y
eg. the value of the mortgage+the interests to be recieved in the future.
1 w( T/ i  u; x3 v; Lbanks 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.3 f. j$ X: p% n% @: A

, b' P, j  M0 e- `% K1 u( ~8 Yim not quite sure if the multiplier effect does really matter in this case.
& r/ X+ J/ o# g" a7 D/ N& Kin stock market, it's the demand and supply pushing the price up/downwards.7 o6 T2 Z, p% n
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. s1 x  N, s  I" x
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& a1 T2 |2 W6 U! s$ `7 m
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.
4 S; J0 u2 M( s9 l; Z" a% C2 Mbut the value of their assets did really drop significantly.
. u, }! U% c- Q
: \5 B4 r2 u/ X! D. T9 h[ 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
. t1 w3 e2 y- U; K; VRefer to last example,
, h. M: j! S0 L" {+ uthat means bank A have no money because we borrow 10 dollars from bank A 3 U0 k/ i3 a- x( b5 q, U
Because bank A doesnt have enough cash on hand
) I3 \6 o/ }' F% x' otherefore bank A need to be bankrrupt ??? Am I right ?? ...

: G3 m  o: O+ z9 |, x2 r
; j9 f8 \7 I) L2 I" s$ B; @7 Z9 q# K
A->B->C->D->E1 u$ z- \! X8 t9 s7 `
so does it mean if E failed to pay D, 4 M; u8 j" l+ o
all the B,C,D,E have to go bankrupt?+ H$ S0 r- ?; W- i5 p' J

  T' ?! ?. s8 y+ a& b1 S& t0 D
the multiplier just tell how much money created in a whole economy,
9 `' e  n! \6 ?; ^- e0 yin this case it doesnt really matter how much money is created, 9 `# a; v: @/ T- N+ }; M9 F
it's the problem of the debt itself.
8 ?3 m7 X9 [/ _' d+ 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
" Q% s  `% w/ b9 A$ Q, Q$ s5 ?2 ]小弟一直都唔明...% |8 a1 [; v0 F8 n9 f8 V" X
% d& X; ]8 K. y  A$ ~, X
全世界都蝕錢，咁邊個賺緊錢呢?4 {) Y7 b& J$ k, K1 ^& {  E+ k
9 R5 g! W: B% _2 P
無可能淨係有人蝕錢無人賺架嘛...
1 A8 t8 d# j( N. M4 M2 V5 Q& _/ Q. Z  Y5 l
敬請各師兄解答
( i4 h: o9 A- Y  |: x% f9 T) r  n$ R. N, l9 h
Thanks

8 s% G8 ]( g4 f
那些根本係 紙上財富  : ^7 V. |- {) ]
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
& g7 I, B* E/ f8 l! k$ Y
0 F3 T  X5 G7 z1 @; Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產9 n8 G  o3 O, |# D! P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& G$ F. P4 u( ^' r- M, X
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 `  E/ Y6 _% k2 a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 s9 I) Q1 y* u) d9 @  V扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( _, x) N' A6 ]4 y: Q計番回報率就已經係50%,所以可以好好賺
# O" j7 ~) L( q6 I/ k+ E9 r前提係銀行之間要互相信任先可以咁樣借法
$ Q+ \" s6 h+ T* C同埋個市場既前境要係好先得
. V$ s9 q/ R- L. S: |5 Z. j4 a9 V但當經濟一差,公司估值趺了,物價不升反趺  Q+ `3 `5 }+ b. m7 f4 K
例如剛才說10蚊的, 趺到得番9蚊,
' X# V$ N: g7 g: b! T; N- ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: t. ~5 ~8 U- W; J5 H; j所以你就會覺得D錢好似蒸發哂咁
! K# r7 F6 `% k7 s+ ~( S" K
9 T# E# I! |6 ?* P你都可以當標野咁諗, 個樣野多人可以狂升值,
+ `( G: U2 V8 q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,
5 [9 X. c# i7 r% f, E! ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( z8 K6 D$ g: z0 Y+ p6 ^
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$ W) e8 m# h# T+ M/ \/ y
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) u2 z9 W3 ]4 U8 r) |" h4 K
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # t$ Y( J9 r5 j" ?& [" N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! g. ~( d* g/ o) B. C6 n* V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' C' o  k, W$ |- l- I
咁你話d錢蒸發左去邊? ...

; U% j% F- ?+ z1 S3 V/ q; d

' [7 p# N" o: z正係咁樣
3 x- w0 v+ C# b) s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
* a9 e( a" o1 o* }! {/ ?/ M8 g  a分分鐘佢地唔使還錢/ }+ o9 ]! X6 W5 X; T
8 g* c; D2 ~; P* z
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,
4 Q5 |) [& D4 P) p( R2 n- l連國家都係問人借, 不停發債券, 印鈔票
5 `' D6 o8 o' u/ x( e一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 z7 o) h9 ^' P3 l3 u3 S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  ?9 r* U6 ?0 j/ z6 c
咁而家"爆哂煲"算唔算先至係變番"正常"???

1 A  b- b! S' I, v* a
: P+ K8 S+ D% q& F* Q2 K& _1 r
其實係...7 J# }! W8 m$ |) [
因為以前未生產, 先消費
- {4 o" O& P/ j2 M8 v; c6 C而家就要多生產, 少消費