0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 _1 q5 H3 W+ e& ?3 E
Why bank will sell 借據給第三者???
% ]% p' K' |9 T: f$ dI was so confused.....

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講到尾都係賺錢1 r0 u4 t5 A& r# a6 F2 f  H
so銀行可以不斷放款
' Z, n! B* i& P* Y6 ^美國的房貸問題散佈到全世界: J& b- H; o# [2 Z' A

8 i0 {5 D6 A. b/ Z; wmortgage loan
* s* F7 J& a( N6 t7 Q: e>conduit
' E$ [6 D3 _, N>RMBS(Residential Mortgage Backed Securities)
  h2 Z, r3 g$ x( f+ u5 `. Y>arranger
$ a8 x, e1 @2 r/ E0 V. ~+ ^& P>CDO(Collateralized Debt Obligation)
) F; G$ D9 t0 T- r% W最後去到投資者

Kev

i thought it is the reason of rate of return.
# }  [2 T8 k3 A& gCDs could have different ratings, AAA -> F,
. l' ]+ u2 I" {+ z. F' f1 qmore risky ones would have higher premium (interest rate) as a compensation for an investment." t& n7 P! U- {7 ]
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, P7 G9 s9 s4 e1 _' j" N1 l; l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" C* P, ]( ^2 E% W" a# a, f$ X( UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( m# y* n. R2 }# \) S" p# t
similar to bonds, CDs trading in the secondary market have different value at different times,
- d& o) _% ^2 _normally the value is calculated by adding it's principle and interest. " Q7 i- ~$ ^/ e% E% [
eg. the value of the mortgage+the interests to be recieved in the future. 9 u% x0 }* Z' I2 g6 n. O$ }, ^
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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* ^$ U3 E8 D) Z& `# V& x% Y; Kim not quite sure if the multiplier effect does really matter in this case.
3 {0 i' u! A! Y8 ein stock market, it's the demand and supply pushing the price up/downwards.. a( D& s. r- S' S" Y. v0 p) p1 D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ {3 [* i' w1 WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: U/ ]+ d. K# G1 x" T0 @
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. . E+ @3 p+ ~. v, L
but the value of their assets did really drop significantly.& H8 A  v! L1 z

/ c1 t0 O3 N' x' q[ 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
  A% `% L8 E- t& KRefer to last example,
3 l0 ?0 G, A  d& ]that means bank A have no money because we borrow 10 dollars from bank A
% k- d+ N+ r: O- i* mBecause bank A doesnt have enough cash on hand
% {! }& `: v0 a  \therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ l" t- s. s  ?) R- e+ h5 |# NA->B->C->D->E7 `$ {5 ~$ W: v; c. P# P
so does it mean if E failed to pay D, 3 p! I* I9 d% w# Z
all the B,C,D,E have to go bankrupt?0 d6 h: I+ k  E0 ^  F: u
1 Q" L2 Y! Q& d1 b

: O( S! p+ M) h6 Kthe multiplier just tell how much money created in a whole economy, 2 e/ y4 O8 Q1 G& H7 s1 q
in this case it doesnt really matter how much money is created, ( ^- N' E, A/ ~$ B' t) y+ O
it's the problem of the debt itself.3 [; T' v" N0 P0 a" G9 p
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.gif5 c: U( N- V7 }
小弟一直都唔明...* a8 A  S# u( i& ~' @+ Q3 C

- g5 A4 \4 @0 A, e+ p( p全世界都蝕錢，咁邊個賺緊錢呢?" J% K6 l& |1 O% G/ M$ B

! B/ U; ]9 X5 ^$ h9 I無可能淨係有人蝕錢無人賺架嘛..., H0 a1 l4 d7 A) k% ^6 e& ~
: m1 m+ a' O; V- n$ k* U9 I) e
敬請各師兄解答& S9 G; E+ q7 u" l' c. A! b

6 L5 y+ _5 p/ a: G4 WThanks

) n$ V$ h6 i. h0 }& T! E那些根本係 紙上財富  
& G$ u$ V0 A/ b, ^+ w. V1 q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- ^( N1 p, a+ w+ X$ _5 J

# o7 ]: s+ O) v0 B: fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' b- F! u, I4 h$ u% c
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ p; K. @: I) b" Z1 G
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
7 T4 I6 B9 P, X- F5 X% _個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. w. X. j. w) T4 K7 |9 n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) a. p( e; J( M  `% @, s/ a" V
計番回報率就已經係50%,所以可以好好賺9 Y, C; T& d, S3 w
前提係銀行之間要互相信任先可以咁樣借法/ X* X6 R# ^/ L6 S. z" K" v0 O
同埋個市場既前境要係好先得- S. U8 I. d; @) S8 [# L) e
但當經濟一差,公司估值趺了,物價不升反趺; q. n  j, _/ ^0 z+ F5 M: b( s5 w
例如剛才說10蚊的, 趺到得番9蚊,
! R5 D" L0 P* ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* O6 V3 p6 k0 I( S4 i
所以你就會覺得D錢好似蒸發哂咁2 x1 M4 U5 q  J. Z4 Z) I$ ~
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你都可以當標野咁諗, 個樣野多人可以狂升值, , U, u& U  j) f. _+ t7 E
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, + h( ]0 F2 _! |- ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 j0 Z/ _& z; j9 g) j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& n  ?8 Z6 d* E: W/ A( _: q6 ^
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
) \7 n! W+ }, q. t5 U唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' ?- w8 r/ U+ q* Y+ M1 G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 P2 R, Q' D) 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- V$ v: [6 A7 l2 Z* n" }
咁你話d錢蒸發左去邊? ...

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5 q" K4 n8 c- p9 {* z! z正係咁樣
8 t. o. l5 `  b: P6 ]0 }# `: \! M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
! w! ^& X* X. d; ~: u7 ^分分鐘佢地唔使還錢9 Q( u- t0 |. ?( o
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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,
! m0 ]6 O0 E  Y) r. N連國家都係問人借, 不停發債券, 印鈔票1 v0 y3 O$ P; ?" G
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ ]9 ?0 |7 M3 e+ ?5 E1 i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" f( Z: \! Z: ?+ l5 K3 Q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 F# d; }3 _: x9 P! {$ ~0 Z因為以前未生產, 先消費
8 M+ \4 v1 o2 T( q+ s' s而家就要多生產, 少消費