0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 n, E0 l% E; E7 N7 q; I/ B4 J
Why bank will sell 借據給第三者???
2 }6 Y4 r6 A5 XI was so confused.....

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講到尾都係賺錢! f) c7 l, t, Q- t
so銀行可以不斷放款0 V! o, I. R( b; }
美國的房貸問題散佈到全世界
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mortgage loan ! ^- z- S1 q; j( T9 ?
>conduit
1 i! E+ y* \* A0 x: w; w* o>RMBS(Residential Mortgage Backed Securities)
0 k4 W4 J$ {0 l2 u8 ~( J>arranger
+ x6 @2 P/ }* c1 t* H4 M! Z>CDO(Collateralized Debt Obligation)
9 V) I& a" W; ^0 B( ?最後去到投資者

Kev

i thought it is the reason of rate of return.) [, p1 w* L2 E/ Q1 h* f
CDs could have different ratings, AAA -> F," c7 {+ ~4 {8 I. c$ R
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- [* s9 ~! Z7 P% R9 Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# S" d" Y6 Y/ D* t0 m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' s& Q# _! a2 l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ }5 z$ w( ?; @
similar to bonds, CDs trading in the secondary market have different value at different times,
- ~/ [9 F$ u( `normally the value is calculated by adding it's principle and interest.
7 A, g+ M$ y" v- Z- yeg. the value of the mortgage+the interests to be recieved in the future. ' O. \' K  R) e# {7 L  V( `
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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im not quite sure if the multiplier effect does really matter in this case.+ z6 h0 g1 E) e# }' d; J3 G
in stock market, it's the demand and supply pushing the price up/downwards.
9 i$ X% j* S3 pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. Z; G  |$ Z/ jA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 m7 l7 E2 r; A8 C" v, }3 K1 Q
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.
! j+ L) t* @) f% f3 Z9 n5 P8 obut the value of their assets did really drop significantly.: t9 j/ U) n/ m; ?4 c( l# P9 k) O

( p, M0 w' b2 d/ V( 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
: x% r- |4 j- e/ [Refer to last example,
9 T# X  U* x/ `) y6 b! Hthat means bank A have no money because we borrow 10 dollars from bank A " a9 l8 t0 f; o' u3 L) Z
Because bank A doesnt have enough cash on hand ( z) r4 y& t9 J
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  B, R1 Z1 G( w( yA->B->C->D->E0 j* T/ @% {$ T5 J1 g
so does it mean if E failed to pay D,
: S2 z0 n2 S1 }9 Z* t, _all the B,C,D,E have to go bankrupt?6 _5 Y1 V" d7 y. m2 e$ z! @  i

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the multiplier just tell how much money created in a whole economy, ( r, i$ j8 I3 P6 [/ Y
in this case it doesnt really matter how much money is created,
& X0 `: }3 L) `( Cit's the problem of the debt itself.# a0 ]* n) h; |' s" G4 z4 Y0 m
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
6 ?5 s6 f( A: a小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?* O3 p8 l9 T; S( @" _6 w2 }
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無可能淨係有人蝕錢無人賺架嘛...
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, R4 r% \6 M; K& M- \敬請各師兄解答
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Thanks

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那些根本係 紙上財富  & N& A& ^2 w0 G) F- ?# z
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
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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- a. O$ _. q, @$ p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; P, s+ f3 p+ }1 d; `* R# k
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, z5 x0 k( M# u6 ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' s2 T: ]5 ~6 v2 U, G
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 d, K! A$ T, R1 ?; b7 q
計番回報率就已經係50%,所以可以好好賺+ m% {7 x; L* k$ a4 ^
前提係銀行之間要互相信任先可以咁樣借法3 v- I& z* J# e6 c  H. v
同埋個市場既前境要係好先得/ z. F* n( x) K1 W( |7 A+ f
但當經濟一差,公司估值趺了,物價不升反趺
  e( I3 Q7 L0 B例如剛才說10蚊的, 趺到得番9蚊,
) N( h/ B! B, m1 j* _, f5 o咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: T. o1 e: F! K! k" E- g; P9 a7 O
所以你就會覺得D錢好似蒸發哂咁3 O& e) Q( m  n' s; h( Q
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你都可以當標野咁諗, 個樣野多人可以狂升值,
% @- B* P3 V9 A/ B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,
' T& W2 e! f6 m. V: L3 j1 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& S$ T. j% E4 }# p7 g2 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
6 U& e3 ^0 O% ^, a. k7 p7 S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
5 I9 L4 U- s/ K' G0 j唔係d錢蒸發, 而係比美國佬洗晒未來錢, . E, E3 O8 E, f3 i2 _. p" g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 M, ]' y( c0 M1 A8 F% {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
  @/ y7 _* I8 h咁你話d錢蒸發左去邊? ...

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正係咁樣* W4 K& Q2 x  `  C2 @' 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% P$ _' w9 S6 ]0 ^6 d+ D
分分鐘佢地唔使還錢" @6 }$ r0 y' f8 g2 k$ T# F
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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,
0 ]2 S$ M: a4 H% x( z: M6 K, C連國家都係問人借, 不停發債券, 印鈔票
# w4 [) _% v0 x1 r1 [4 K- O& X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 h  C" f9 q9 G" _- ?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
8 A# y% i. \# A3 j- ]  ?咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...; l6 [; G$ {4 ?" Y! N2 G) Z# L. ~0 ?
因為以前未生產, 先消費9 [' B& ?, \1 u0 j2 F1 T0 m
而家就要多生產, 少消費