0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' L" r; B. m' ?% L! `Why bank will sell 借據給第三者???
" v; m$ b1 w  m% w1 [, [' b' }- zI was so confused.....

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2 M+ n. }2 I& m7 i* }講到尾都係賺錢
% i# v2 P( ~4 Q6 F7 ~- Lso銀行可以不斷放款
5 A. c) m0 ~, _) b  k3 x$ b3 }美國的房貸問題散佈到全世界& ^  D3 p5 f% B, ^

% A5 Y+ F, @. ^% G+ A) R' @mortgage loan 4 x( l( a4 _$ ~, u# Z1 `& S5 ]
>conduit
# \, Z+ r% p- g>RMBS(Residential Mortgage Backed Securities)
+ p6 M5 ~0 K% _& C! H/ f2 T! u>arranger. s3 u2 ~. |1 V$ {- g* f
>CDO(Collateralized Debt Obligation)* I5 m& j1 i) S) t
最後去到投資者

Kev

i thought it is the reason of rate of return.  K  \# P0 o: P  H$ Q' \
CDs could have different ratings, AAA -> F,. S  L' m" Z. i5 c" i  O
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 r$ D7 L- P9 s9 Cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* N# R! `0 u# U6 Z" ~* win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 J: m; J* |0 P: v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( `' u# s# u# w1 W8 \6 \. G( `
similar to bonds, CDs trading in the secondary market have different value at different times,1 Q& ^% R4 h8 x1 g
normally the value is calculated by adding it's principle and interest. . f$ A1 s. I$ P( W+ i0 V- _/ K' J
eg. the value of the mortgage+the interests to be recieved in the future.
% s6 {1 T% Q& ebanks 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 W- _' H# Q$ K

& d2 Q6 k4 Q% K. K1 P: j' r  qim not quite sure if the multiplier effect does really matter in this case.
# }% |: K# C7 C3 H: xin stock market, it's the demand and supply pushing the price up/downwards.
8 h$ Y! X! O' |: S$ H$ A0 pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 g; G1 J6 W, x  H/ y, DA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ F- s( }  ?6 ]" _* 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.
7 W+ F/ W9 d5 }but the value of their assets did really drop significantly./ g; Q8 P# W! `: n
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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.gif7 U0 I. u5 G2 x7 \2 W$ j9 h
Refer to last example,1 {0 R% p( E( M: y! m0 {$ X! a
that means bank A have no money because we borrow 10 dollars from bank A
$ j1 ~6 h9 n+ U1 L1 t# [: ]Because bank A doesnt have enough cash on hand : t) j$ R5 e2 R; P- t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% Z+ @8 X0 o/ A# q9 _5 ~1 w8 K. x; @: XA->B->C->D->E
1 R4 Q# T- ?4 {so does it mean if E failed to pay D, * K/ Z+ N" R: l0 o; h
all the B,C,D,E have to go bankrupt?
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. e; R$ X) e5 }5 U9 o8 U$ O+ Jthe multiplier just tell how much money created in a whole economy, & b) Z1 _+ K" j3 U3 S
in this case it doesnt really matter how much money is created,
/ ~- M! l/ }( g8 Vit's the problem of the debt itself.3 l4 _$ l9 O1 i. W$ |& x) _
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/ `2 M  k9 @1 y* Z9 Q
小弟一直都唔明...
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% \8 S; k2 x7 p* t全世界都蝕錢，咁邊個賺緊錢呢?& }3 ], S, J5 B/ m. [
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無可能淨係有人蝕錢無人賺架嘛...% M) j2 O" O" N9 G  H

! G, U1 W8 o; a. l/ b& a% H敬請各師兄解答5 i/ R1 Y# S. H2 i: f/ P% h
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Thanks

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那些根本係 紙上財富  , z2 a4 O; ~6 N
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& U8 O+ u, E0 F- V  U5 K& V
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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3 n/ E, M  Y. E, D
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# {1 D# O& F: f  o1 g/ ^& T& _- ^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
' N  L5 ]# ?% Q/ p1 U0 c5 j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! @% I( v; G1 r* j2 G4 c) j! }, ^扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 U# z- V& M; i. R$ |
計番回報率就已經係50%,所以可以好好賺( s: q$ t+ V) A) D3 K" P# E
前提係銀行之間要互相信任先可以咁樣借法
+ D, \; }+ f& w* G; v2 T; s& g同埋個市場既前境要係好先得" q. N! m* i6 n; d' t8 G) J
但當經濟一差,公司估值趺了,物價不升反趺( L& v( h3 H1 s$ n
例如剛才說10蚊的, 趺到得番9蚊, ) i/ g& [9 Y8 ]2 H, @5 B4 F3 F+ J* d4 N
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 E7 m! `4 x  p1 J% u5 h所以你就會覺得D錢好似蒸發哂咁  [# I) _3 Q1 t! h0 v1 ?
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你都可以當標野咁諗, 個樣野多人可以狂升值,
7 _" g: X/ h6 e, W2 E6 m4 m7 R9 O% {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, / c& N9 O- |1 m0 Z! ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ V5 c& |& z! K3 ?) r6 ]+ y% Q" G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/ t" V5 `/ _& \. p! c) ^5 f
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.gif9 f. n( \( A+ m. x2 {$ @0 _0 e0 u* ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# _5 P) `# s% W# M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' f" p! }/ ~& }7 s2 ~$ }& 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
+ L* @* K/ \1 K$ W3 |) h8 u% o咁你話d錢蒸發左去邊? ...

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, {) `7 z* h5 Q* r) T" t正係咁樣
8 z/ L- T' Z# q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/ E. I2 J0 |4 J1 e4 d" @
分分鐘佢地唔使還錢
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/ K% U. D, V3 F7 i, B0 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,
  [4 Y! d+ I; V, \9 W8 w$ F; `連國家都係問人借, 不停發債券, 印鈔票
0 \( \; I. C+ D, z& u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- V4 J% x1 a/ H5 g1 R( Z
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.gif3 [; w. N' O: C; Q9 A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- J- X) O8 n& r0 R9 h2 O/ f( F3 [其實係...
; w! _2 C, L3 v# D) D; d! Q: y& [因為以前未生產, 先消費7 |( T1 x* u" c7 b1 @& _- n
而家就要多生產, 少消費