0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% Y. N/ [2 d* k/ E
Why bank will sell 借據給第三者???
: }. Y9 v2 A- ~/ ]# W' y! }I was so confused.....

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講到尾都係賺錢
$ E( l  U! c1 n6 h9 z  Y* O. lso銀行可以不斷放款# }3 t4 x6 G4 c9 m
美國的房貸問題散佈到全世界" ]# P8 r3 \: V
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mortgage loan , e* R( p5 }" j) b1 v
>conduit
! m# B2 s  b* y2 d" n% A>RMBS(Residential Mortgage Backed Securities)
1 h- B' D) F. x# p- g) F7 z5 \1 m>arranger& y$ z' ~. }! |( L) S2 ^0 d
>CDO(Collateralized Debt Obligation)
) S. r3 G1 W5 p: x, ?9 I# ?9 D) L- p最後去到投資者

Kev

i thought it is the reason of rate of return.8 C3 @' n4 K3 D4 a
CDs could have different ratings, AAA -> F,0 Y. ?& y) `$ K$ R! H$ u
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& U% \( d/ r" Z; W. A& Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# e- n8 X3 j* C9 n' x. a4 g) J
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 h$ c" v/ |- P+ V/ l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- e8 D; Q5 _8 o) O0 i# E& P
similar to bonds, CDs trading in the secondary market have different value at different times,
) s! u; X, f% j4 ?# |normally the value is calculated by adding it's principle and interest.
& s% x2 V/ c& {$ |! reg. the value of the mortgage+the interests to be recieved in the future.
$ N6 `, T( }. Gbanks 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., K! j, U! M' r
in stock market, it's the demand and supply pushing the price up/downwards.
7 ^  H  K& a# n: o' ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ g3 M% l0 o5 L+ X/ v9 i! aA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 E& H. M( }* R9 v) \7 aThe 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. & c" v: C" _* |; `
but the value of their assets did really drop significantly.
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( K: Z/ j7 [+ F  {[ 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
6 M& k+ f5 p0 s6 y+ r! yRefer to last example,* x1 d( Q2 h! s7 N; m
that means bank A have no money because we borrow 10 dollars from bank A
- D) z4 l4 x5 Y/ U1 HBecause bank A doesnt have enough cash on hand
* ~  z, R2 ^6 i) Vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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, |4 ]* P8 \: z! V8 }A->B->C->D->E
5 p# g& C3 e! v) yso does it mean if E failed to pay D, 3 E7 ?! [' \  x5 B  e$ W
all the B,C,D,E have to go bankrupt?
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. U/ o9 D/ w( G0 S, E! [the multiplier just tell how much money created in a whole economy,
8 m. P3 ~5 k+ d! Z( d( `$ _in this case it doesnt really matter how much money is created, : o0 [4 B/ `5 O7 ]  x
it's the problem of the debt itself.. r5 m' ?" B# C* V
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
' i2 B& W  m. N& K8 e, |小弟一直都唔明...8 m0 Z9 v& m) i
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答4 ~4 D# i/ Z( g

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那些根本係 紙上財富  : o# |1 c( _9 @+ F
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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1 u7 {! {+ s" r- B  ?- phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產5 L; c1 q( e2 Z- T- [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, V" v: T2 I3 {6 g# s7 W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- X, @( _- A2 Q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: W. K8 Y' I2 `; B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  V/ K2 k6 a) ]- r' p1 r計番回報率就已經係50%,所以可以好好賺. E" q1 y* U# r7 h
前提係銀行之間要互相信任先可以咁樣借法
* l  f9 A- y9 d同埋個市場既前境要係好先得; U6 u1 ?1 [- c0 r7 V/ `0 t
但當經濟一差,公司估值趺了,物價不升反趺
" z* \, _8 m% L例如剛才說10蚊的, 趺到得番9蚊,
2 {( [! e6 g9 n6 }$ D咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
5 c0 G5 n4 m3 f* W- a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, ; _! {& B7 M+ z" C: 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, * _9 a2 v7 C7 o. I5 d8 d& T* z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 z5 K  M0 n/ ^( }4 F- c  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
4 _" g3 p% C0 s) Q& |5 Z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.gif5 w4 I. _0 L0 U. _/ i
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 c( J0 V. }/ V5 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: K! Z- N8 s2 u0 [7 a9 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
, L8 a2 l6 p, v1 ^+ X咁你話d錢蒸發左去邊? ...

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+ V; [5 ?0 {/ B! J( r$ V& ]+ m正係咁樣! n0 S6 A+ L" z2 k5 u  i  y( O
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
0 E6 W/ I" u# q, p$ J  S$ V+ |! }分分鐘佢地唔使還錢  U! b! ]/ G$ y4 w4 ~# `
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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,- G, v7 o# L$ o% ^
連國家都係問人借, 不停發債券, 印鈔票
. J" p, C: G: \0 D* t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ J0 q2 `* e  ]& B6 u( Y" V
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
) Z+ S4 b2 d$ N' m咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& C6 \+ m8 M( C& C, z因為以前未生產, 先消費
  u% p- k% M" B( F1 c; o$ b# ]6 d. d* ?) G而家就要多生產, 少消費