0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' [6 T  @6 M1 L" ~
Why bank will sell 借據給第三者???
( ]' {2 a9 G6 l/ ]" qI was so confused.....

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講到尾都係賺錢4 x0 ]& }1 d( p7 q! I: ?
so銀行可以不斷放款
! J/ t6 m0 K* N1 |7 G% g8 s美國的房貸問題散佈到全世界( {6 W; \) [9 q+ N& c

: W7 u) M8 m8 qmortgage loan 3 s. r! O; o' C6 X
>conduit8 j' N  C$ L) c, G; b3 z
>RMBS(Residential Mortgage Backed Securities)
4 l  s" _$ e2 q0 m9 x>arranger! e$ H- N& P: @2 ~4 B4 M; n1 U
>CDO(Collateralized Debt Obligation)
6 {1 g4 [2 i, y- F3 v$ B, D1 ^最後去到投資者

Kev

i thought it is the reason of rate of return.7 ?- l* `% c5 ]1 Q' e
CDs could have different ratings, AAA -> F,
% s7 p. K* o$ l3 S5 {" W! t* B* Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.8 D  h' ~: k- s  h
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# i9 g; C/ y6 G2 Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' ^% \" v4 J8 J6 i* M& c
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* S. a/ [) ~6 Y" ~- I% {4 D
similar to bonds, CDs trading in the secondary market have different value at different times,
  G9 n6 T2 ]. z8 J9 o2 r8 D/ e8 Hnormally the value is calculated by adding it's principle and interest.
/ p) ^: i! b7 N% @8 keg. the value of the mortgage+the interests to be recieved in the future.
, `1 R) }3 L; X0 y1 U% Xbanks 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.: B; ?% l+ j6 T+ n& V" u) i
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im not quite sure if the multiplier effect does really matter in this case.
3 n2 s" f. @( {) }in stock market, it's the demand and supply pushing the price up/downwards.
7 I1 N" I% K7 PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& G) P& O* W. A& m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( L) c6 q2 m% J, XThe 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.
& B6 S3 S5 w( t) f3 S# ~but the value of their assets did really drop significantly.
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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
" }" e) E2 J5 XRefer to last example,) w( Y$ F! I9 D! }% \/ l
that means bank A have no money because we borrow 10 dollars from bank A ' e; H0 R+ x, o7 F
Because bank A doesnt have enough cash on hand   G% F' J2 S9 e: [$ O( w$ m
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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7 V- D1 R2 i) V3 l; gA->B->C->D->E
# X9 S$ d# w/ l+ m  iso does it mean if E failed to pay D, % I* M1 _! G4 f0 _
all the B,C,D,E have to go bankrupt?
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7 c  v! h0 {# `6 p0 Othe multiplier just tell how much money created in a whole economy, ( R$ Y3 N. g$ P1 D& f
in this case it doesnt really matter how much money is created,
/ ~( l4 m7 `+ M0 K' {it's the problem of the debt itself.
" B7 @9 X" p5 a5 z5 }( j* {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
  _4 Y5 u. v* n8 d0 C小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?1 n9 r5 F; W: a4 i% J

( e, K" c5 y. }  E7 O無可能淨係有人蝕錢無人賺架嘛...  ?' T6 [# x/ n

8 y. c! K+ m( \/ E: [3 j敬請各師兄解答; N: @# m) |' h& f6 B
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Thanks

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那些根本係 紙上財富  ( r0 V# n# k9 b# ]  U% 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# ~8 G! }. R. u
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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" x" z# u  A" x; y* ]
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- u7 e7 v1 a; `( |4 C
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& R' V5 G$ m1 _3 L  M: g# \. b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( ~$ S, E4 v7 u, a4 C
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ }8 H1 F4 R; L* W" n
計番回報率就已經係50%,所以可以好好賺
+ l' D+ o- A* @) c* T, C前提係銀行之間要互相信任先可以咁樣借法
8 v5 Z( Z) P( ]$ A8 l3 V% M% Y同埋個市場既前境要係好先得
  o: y  W7 k$ ~5 N/ A7 W5 d: e: s但當經濟一差,公司估值趺了,物價不升反趺
! D3 p8 K* p. z例如剛才說10蚊的, 趺到得番9蚊, 3 T/ |% h3 Q( q, q+ K/ o
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ \* |- N9 W+ g0 [( p
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( r- q2 {$ `( H; w4 m9 D
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, ! f7 ]/ z. w; O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ J$ a+ u5 B- A, v) M6 D- z2 I# `7 R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, d$ f8 Q5 O' @; y9 V, e
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
, J, k8 L7 W4 J唔係d錢蒸發, 而係比美國佬洗晒未來錢, , j2 c8 N; D# A) W, U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 x& z& V8 v  d9 Q+ A: D% u+ @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
$ Q% S) ^* a/ f9 U) N咁你話d錢蒸發左去邊? ...

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& o9 E  {# @, I; |$ y7 [3 W正係咁樣( Q) r5 @* [( p
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
2 _* v) a! k8 j& B0 N+ ?. f: t分分鐘佢地唔使還錢
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2 x: M5 w2 L" y' Y  w0 u- ~" |: y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,
; d- y; W; ^. z3 R連國家都係問人借, 不停發債券, 印鈔票
7 k" k) R% O1 ?( G$ ~1 c; S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. C, y# |$ j6 [. ]$ z8 y  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
$ j; t) f3 w+ g1 o: E4 w# J% B咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
6 C2 C2 q9 e" \1 Y( h( {因為以前未生產, 先消費# m1 i) r7 ~$ y5 [3 a7 U
而家就要多生產, 少消費