0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 [$ o+ A% Z& G2 l3 IWhy bank will sell 借據給第三者???
6 r2 z& {( h! ], NI was so confused.....

# i! O% G3 A  w  M
8 h: F2 r' |( w
講到尾都係賺錢
+ F9 A7 B2 ~% p/ bso銀行可以不斷放款
1 ?8 N9 G8 f& M* d# d1 F) ]/ |, ^8 H美國的房貸問題散佈到全世界8 F& B# M- r* r1 x) M
  K7 E8 m+ q+ l2 B
mortgage loan
, w  w0 a6 a9 K( d$ k>conduit( |5 F; e+ Z4 I4 P( h
>RMBS(Residential Mortgage Backed Securities)" l3 t2 {5 W7 M( V
>arranger4 O4 ]* |. B+ P/ D5 ~- \
>CDO(Collateralized Debt Obligation)
/ S+ u, n3 V; ?最後去到投資者

Kev

i thought it is the reason of rate of return.9 t9 P$ [0 E2 W
CDs could have different ratings, AAA -> F,$ K7 q4 k; j  P$ h4 {- h- Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
2 v6 P% H; [2 N  A2 R" R* P5 zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 U, A) l; x; C, ~in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 {+ K( g6 }7 `7 [" `: CAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 A1 c9 p: v6 A2 o: Msimilar to bonds, CDs trading in the secondary market have different value at different times,6 K$ U+ I- B* w! d
normally the value is calculated by adding it's principle and interest. 3 l$ K* E6 d$ E4 i
eg. the value of the mortgage+the interests to be recieved in the future.
8 y; {+ |$ I0 ?+ zbanks 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.
8 J& K  C+ D5 @# }, y1 W6 R/ y6 g0 ?6 L
im not quite sure if the multiplier effect does really matter in this case.
6 _  r. A$ I4 b3 k( p' Sin stock market, it's the demand and supply pushing the price up/downwards.; Z& M: ]* S& e+ W; o$ M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- X$ v' Z) \  z4 V) a% z1 ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 Z, ^9 z- ?7 g1 [& D4 _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.
/ G+ u' M8 {6 ]but the value of their assets did really drop significantly.  T, U/ Z' M+ F8 `" W
/ C: K& u6 ]' P8 P, g
[ 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/ c: ^; g( b# L% m- k
Refer to last example,
. x4 U- R* j5 k6 }+ {that means bank A have no money because we borrow 10 dollars from bank A
  d/ z* |" Z4 o- k# g6 d$ Z1 x1 VBecause bank A doesnt have enough cash on hand
) r4 M. @6 E( `- l! C- Z* y8 ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

6 P' [8 V2 j, k5 |% Q
' B* t3 k: u: |' s2 K
8 S' A3 }1 W/ X' U+ s0 {+ @0 [
A->B->C->D->E
" H  Q& Z$ d( D. j# ]so does it mean if E failed to pay D, & O' F! A. a2 n2 z" n+ k! ]) C' |
all the B,C,D,E have to go bankrupt?
+ Y+ h( I# M" j0 V% J; _
+ q! H) m+ a0 }8 y# ~2 x4 o" R3 z
1 q9 K: G* R" W* g4 t" `9 [- Bthe multiplier just tell how much money created in a whole economy,   O0 }5 D. {7 b2 J6 r8 S8 g
in this case it doesnt really matter how much money is created, - J" I+ }8 p: ?, I* _  m
it's the problem of the debt itself.+ @% s7 d6 V1 q& W
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) x- j: s' i0 R( T2 ~, A- O
小弟一直都唔明...6 Q) G8 {7 `0 N) c* _/ O6 S
$ d- O9 y, L4 @) L; y" @
全世界都蝕錢，咁邊個賺緊錢呢?7 Z, n' ^( p+ u7 G

# z! S6 V7 x- b% P  F0 `5 t' q% G無可能淨係有人蝕錢無人賺架嘛.../ i& f! L, E3 Y) P

& b* V( p+ d: ]+ g) z4 f敬請各師兄解答
3 y) @* ?5 M3 y/ D5 M* s* \; |) j5 c* m
Thanks

2 C$ c5 f$ @) {$ z那些根本係 紙上財富  
6 u9 ~! i4 I' j2 e3 O4 b4 A: p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- O/ U; r; B; H! k9 |( y

. ~; }7 Z6 q/ D- {7 K0 khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 D7 o, G, {$ m1 U當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 d2 W- }+ M0 L: X& l- 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
, s/ Z2 i  h  y. j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦7 q/ }; _' c+ g/ u
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; Z  Y  W5 m# W1 _計番回報率就已經係50%,所以可以好好賺
2 S5 [! ^6 M! m, D) W4 `" a) r( c前提係銀行之間要互相信任先可以咁樣借法
2 \9 f* \# [: v2 s" M同埋個市場既前境要係好先得
$ Z! U7 W, S' r  K! u. S) A但當經濟一差,公司估值趺了,物價不升反趺9 Z. `& r! ]/ I6 |/ e, {& x
例如剛才說10蚊的, 趺到得番9蚊, 7 f' F8 G" A2 s0 \# ]  y" m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# P7 e0 l( P4 T) M9 |* P所以你就會覺得D錢好似蒸發哂咁: ~# ^% x3 @. z1 @/ J

+ S  M2 N/ r5 u) h8 ?你都可以當標野咁諗, 個樣野多人可以狂升值, / |3 \/ l: c1 p# f
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, ' w8 I0 e) I4 r7 a; g( R. U1 _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * C) x" o  |+ Y; m5 C0 d
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! {/ V6 ~4 ~3 |' \0 t- 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
2 Q) j/ Y, {+ ^  e! _6 E1 g唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; I5 C8 N! G( A0 U# w% T& _5 b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 H" v' O7 R! m8 e. t
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# P- Y  V) A7 `
咁你話d錢蒸發左去邊? ...

/ u9 t+ u' |. b7 K! u

' T$ V, K2 S! |: d3 [+ ^7 U9 t! j正係咁樣
1 L9 O# Y3 Z1 T/ D  U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! ]7 ?& {5 }: f* b1 u; f, Q) s
分分鐘佢地唔使還錢
# A0 p: V5 G) Y- j) Q0 U; B- U: Q3 v$ w( D
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 A: G2 e" h6 `% S: x連國家都係問人借, 不停發債券, 印鈔票# [# A- k7 x+ D# U
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 u$ `5 s- p$ T' R9 V# v) n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
2 Y9 @5 O! @7 L7 v/ s( u咁而家"爆哂煲"算唔算先至係變番"正常"???

) y3 m0 `4 a3 W* E7 K0 Z( H2 W

. p& F3 [! `% L* `. R% L# j! I其實係...0 L4 Z' W+ [* r2 G1 W! `
因為以前未生產, 先消費
& X+ t' L% K: r: g) _7 p' J而家就要多生產, 少消費