0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! ~9 S6 z2 E# D% S+ w% rWhy bank will sell 借據給第三者???
0 {; Q4 m7 I8 K) m1 tI was so confused.....

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講到尾都係賺錢
) n0 h% w5 s3 mso銀行可以不斷放款7 @, f( j$ ^$ @4 c# d2 t% y4 }& ?, \
美國的房貸問題散佈到全世界* Z+ w8 b6 x. i0 o9 p+ e0 i6 p

  n8 ^1 F6 I4 M& O* P3 nmortgage loan , t% q& T+ T4 j+ ~+ h8 e: J2 x
>conduit
4 v8 r! |+ i& x( n9 K" c>RMBS(Residential Mortgage Backed Securities)
, [" c) m+ O: S$ {) V, ~9 C% u  r6 ~>arranger0 `) P% q2 S' V( |' X; q
>CDO(Collateralized Debt Obligation)
% Z. ^8 c7 o2 x& h; G" d* G7 Q最後去到投資者

Kev

i thought it is the reason of rate of return.2 o5 [& e; h$ y% T
CDs could have different ratings, AAA -> F,+ H& ?: e3 a$ k0 W1 b( @9 M
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, I/ f1 q- ^2 t& rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! |' t$ }* R0 Z# }% din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 r8 W: o8 ]! v' K( Z8 LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ y5 [% ?3 V4 w1 ]" K6 I+ c; Y
similar to bonds, CDs trading in the secondary market have different value at different times,( s7 G5 v8 P! e! L' C3 P& q- B: z
normally the value is calculated by adding it's principle and interest.
- ~  q2 M% R5 I7 H4 `eg. the value of the mortgage+the interests to be recieved in the future.
5 c" r: q8 U. F8 N0 `% x1 Bbanks 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.6 T- O8 a% n6 u. C

8 T+ L7 r$ c  I$ s7 X% ^im not quite sure if the multiplier effect does really matter in this case.8 p& V4 p3 G' X. v
in stock market, it's the demand and supply pushing the price up/downwards.
0 M0 k$ v9 t$ Q: C7 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ Y% e0 t3 W! l9 I  H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% f* G3 j7 |* A0 n+ f( cThe 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. + a3 F# D' f+ c& j8 m
but the value of their assets did really drop significantly.
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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.gif) D) M( l+ Y% A9 L
Refer to last example,
% m/ `" k+ W( n# C) V/ P9 Y% Wthat means bank A have no money because we borrow 10 dollars from bank A
1 C! {+ I: i. N" _Because bank A doesnt have enough cash on hand 3 {0 E& o' h$ ^: u' c* }: p/ N
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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, P: Q, V% d& F8 I( \A->B->C->D->E8 _$ X" }0 n% l6 M) x$ V
so does it mean if E failed to pay D,
+ X+ C8 }' F; n2 fall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, 0 o3 M4 j* S% g
in this case it doesnt really matter how much money is created, ( L0 L( }% e7 y% Y( T6 P! Z9 l0 m) K
it's the problem of the debt itself.
. U2 Z. ?7 c+ a+ [* Rthe 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
0 E9 z( r2 K5 i' }/ g9 C小弟一直都唔明...
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. T( i% ^0 R( h' h' v, F8 D全世界都蝕錢，咁邊個賺緊錢呢?) l+ U) a% y( c1 g9 {: I) ^
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無可能淨係有人蝕錢無人賺架嘛...+ t* b) T% Y' z; j) W# i

, r; |0 k( X) a& `8 F7 S敬請各師兄解答' u4 O! O9 x9 Y

; i* W' ?* e6 \  [5 P( }$ DThanks

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那些根本係 紙上財富  
& q7 M4 }8 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+ A3 L& K/ e$ _4 Q6 E

  ?8 j7 r8 V* {* b, I& 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; k' b; r; |3 q0 Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; Q7 M/ b2 m+ u  f' u$ O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
- w6 h& k; U% \& [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' m" i+ D0 e* S7 d0 \7 n! l
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 x' z4 H6 C8 d# o$ Y
計番回報率就已經係50%,所以可以好好賺3 }4 _. z7 P4 I
前提係銀行之間要互相信任先可以咁樣借法% Q/ d3 }$ f! j% {; {4 e& w1 H1 p
同埋個市場既前境要係好先得
8 W! c4 r$ c5 Q6 L3 v7 C- ?但當經濟一差,公司估值趺了,物價不升反趺+ k: D/ r* _2 \4 g4 w9 ]$ L3 k) g
例如剛才說10蚊的, 趺到得番9蚊, " j) v* {8 h, M7 o' P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& C5 D# q* Q1 m- N所以你就會覺得D錢好似蒸發哂咁. e$ b  @; }: R* ?
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你都可以當標野咁諗, 個樣野多人可以狂升值, 6 v; `( F2 L& c: D8 l
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, # v9 ~, n6 j6 m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 G  D; j8 \. ^" t7 K+ v. 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$ W. P% H5 i8 K
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( }- q7 u- E& Z8 t
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. d0 c& T0 K5 p" u( B* [1 V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 {4 x4 }, u) U4 R% M) N: c
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
, z6 c9 ~) s1 @& B8 S9 [咁你話d錢蒸發左去邊? ...

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正係咁樣0 o+ ^; V" @( }% \2 X7 p- B" `
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
# I5 K- P- D" J+ D% D分分鐘佢地唔使還錢
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4 y0 [  Q6 v: {1 V8 ~3 D5 S* g8 b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,
! k+ U5 t+ b- ]; ^' }1 w連國家都係問人借, 不停發債券, 印鈔票3 A. |$ C. |5 t5 `0 N) I5 _
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% H/ l* E+ ]# f4 ~# V8 K& d- Z- Y
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, t) M( i* |5 r( K
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 n7 F: o5 m% r3 m  g其實係...
2 L, S6 Z1 E0 i2 Y' C2 o, q因為以前未生產, 先消費
) `5 L) C  S( x2 D  U' D而家就要多生產, 少消費