0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 }' J! d0 O; y. Z8 b6 x
Why bank will sell 借據給第三者???
& H- w: V' h6 _6 M& }* mI was so confused.....

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  p! _$ V4 ^/ Y$ Y) [講到尾都係賺錢
6 y: l, j! g4 ~- `- u$ h$ ?& bso銀行可以不斷放款
# q0 S7 s( c% n# f8 k# n美國的房貸問題散佈到全世界
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$ p/ d+ _! Y% k" ]+ Omortgage loan + [0 x' x6 y: c+ P$ _
>conduit& @2 _) p; Q1 }( b  j& I. v5 n$ L  T+ d
>RMBS(Residential Mortgage Backed Securities)
! B; b$ |1 [# _- c3 D4 t& t>arranger
1 o+ U" M' B! H( x+ b>CDO(Collateralized Debt Obligation)
) u9 }! Z6 G" s3 C1 B9 I: e  f最後去到投資者

Kev

i thought it is the reason of rate of return.! |9 A6 m) R- ]
CDs could have different ratings, AAA -> F,; r1 G! A, ?4 ~8 [
more risky ones would have higher premium (interest rate) as a compensation for an investment.$ \% T* L0 \- C6 u( l+ x
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& v: `  ?1 k) _9 [9 _in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; A( A6 e+ u- vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 {1 D' t/ _( ]2 X. P1 B% y. J
similar to bonds, CDs trading in the secondary market have different value at different times,
5 d2 w1 i8 W$ v: r7 c: inormally the value is calculated by adding it's principle and interest.
$ [. Q( u) X9 a2 ^" _  c: meg. the value of the mortgage+the interests to be recieved in the future.
" q7 K5 K4 E! ?* H) N' Dbanks 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.. g; h  {6 F7 j

* U  K) ?* z/ |, k. `0 Tim not quite sure if the multiplier effect does really matter in this case.4 Z! P# j& q( Q- e) l
in stock market, it's the demand and supply pushing the price up/downwards.
$ x% M. l# _% w- w3 nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 B5 W, _& s- `3 g+ w- M& U
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 J  q  `% \+ F5 O) O' EThe 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 Y1 Q$ }7 `1 v( c+ j2 V
but the value of their assets did really drop significantly.5 W7 `3 f3 m, E- n5 @

7 T& r3 l, p* A/ e) m( S[ 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.gif4 j9 A0 E* o8 f* m1 N9 `
Refer to last example,
& Q# j( D& j) c9 @1 `that means bank A have no money because we borrow 10 dollars from bank A
$ g6 Z6 e; Z! J5 t8 o% f( l# SBecause bank A doesnt have enough cash on hand   F& a2 Y3 {+ U" \- N
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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& Y  J0 ~8 a% a& s6 t% M% SA->B->C->D->E
: I; X( h7 U+ g5 @, Aso does it mean if E failed to pay D, * b. |8 @! [' R% m+ ^) i0 q
all the B,C,D,E have to go bankrupt?
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8 P8 m  o2 a! E) ]/ ]
the multiplier just tell how much money created in a whole economy,
( o5 f9 E# R) x8 N& I, win this case it doesnt really matter how much money is created,
, Z9 U/ a; C5 Pit's the problem of the debt itself.
. D; X2 [2 Q& N3 J3 z9 V. q( Pthe 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
8 E% m+ ~. }2 q) [6 z小弟一直都唔明...* D, A4 m' g/ [3 u

# @$ Z0 g9 b# L全世界都蝕錢，咁邊個賺緊錢呢?
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% s, p5 |) s% B% v, h; U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
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7 i: L' }& d! \5 c7 @Thanks

& D& _* s& q+ O1 O( F. o那些根本係 紙上財富  ! h' w) M- R2 k7 ?( c2 p) 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) E  p* I4 Z0 ]  h

  i/ q! G& b5 z$ Q  Ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
& v) \2 K- ^2 d% c9 H當經濟好,投資銀行相信會賺錢, 物價既估值相對較高: A( ]/ J# Q6 i" f
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+ [; d: T1 k# Z* p: B+ O
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, j8 ~, T5 P* W7 p& }' W: e" @
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 H7 {2 `& u0 g. Z; M. X- B計番回報率就已經係50%,所以可以好好賺
% b' l" A% ?8 ~( r/ J$ ^前提係銀行之間要互相信任先可以咁樣借法% W9 H* E6 Z' x* W- R" e
同埋個市場既前境要係好先得
- u  T& p, `& E1 {但當經濟一差,公司估值趺了,物價不升反趺
- S6 h( K; ^6 T) L例如剛才說10蚊的, 趺到得番9蚊, 1 @* m% \# Q; P3 d, Q' M# \8 U$ ^
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. E, y, `: ?9 b+ [4 |( K6 K% j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,
4 I% i& Y+ Y: k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,
1 a  P* @3 i2 t2 |+ }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 }" @+ ]+ j; d$ T( b$ A6 O5 {; @
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
1 ^1 l" R4 d$ e3 X, q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
0 \* X5 [) |0 Y" t唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& k- W, a4 w! l( S) w! C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) n4 h: W. X+ @6 j* \5 e7 z' }4 X0 t4 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- ?% n$ A! t5 l  ], l; C8 [0 u
咁你話d錢蒸發左去邊? ...

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  W* T- l. X2 j2 e正係咁樣
! f' ?. i+ m% L: [" D+ K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
+ D0 ~2 M- J0 q. [1 k分分鐘佢地唔使還錢
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  P" L. _7 Y. f7 D2 R4 A8 \1 t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 @& Y, `0 N; S- O連國家都係問人借, 不停發債券, 印鈔票
, b3 s6 a, s: ^0 K( a$ ]一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# d% D) a( a% n$ 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
$ j4 |; Q- Z: X' W; u, ]咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..., Y- t* m1 t+ }
因為以前未生產, 先消費" m; o7 i: F0 Q% o5 j6 e+ }7 a* p9 B; m
而家就要多生產, 少消費