0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; t4 B' [( e! n/ ^2 ^
Why bank will sell 借據給第三者???5 o& q2 n# a) E
I was so confused.....

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3 F. i" {  J* m' W: e講到尾都係賺錢
" h3 f8 L( d- _so銀行可以不斷放款
$ c- |4 w+ ^+ ]. f4 q4 q美國的房貸問題散佈到全世界
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mortgage loan
# m4 i% s) `6 B9 `9 I>conduit: b2 @6 X/ E, Y7 H* v  ~4 W1 w
>RMBS(Residential Mortgage Backed Securities)
7 F+ s; c, X: o& {5 M6 B>arranger* z( i8 t8 J* s; f$ g8 m/ S+ U
>CDO(Collateralized Debt Obligation)( F6 |7 n5 |' O
最後去到投資者

Kev

i thought it is the reason of rate of return.
: Z. k" t* ?/ J0 l& q0 YCDs could have different ratings, AAA -> F,! [$ x# H* ]/ y3 N
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 ^, \/ g% w3 {/ p8 l2 c2 Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 C: s0 C  h$ v% L/ p9 Y' gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' s% o% i7 D4 }$ YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 C# H/ ?1 _$ U- _1 _! j! \, qsimilar to bonds, CDs trading in the secondary market have different value at different times,# I$ ?0 `, |1 m
normally the value is calculated by adding it's principle and interest.
& G5 g% ?" L$ Leg. the value of the mortgage+the interests to be recieved in the future.
+ U8 B! g, K3 E4 J% r+ G2 j$ ?4 nbanks 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.  c9 w: S9 b* M9 e
in stock market, it's the demand and supply pushing the price up/downwards.5 ]( E/ _% p: ]7 E9 d( y( a
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  h( c  _( v* P
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' C" Q' u6 ^4 W7 A$ ~4 N) `
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. 1 N! i1 i; t3 o- b) G+ @  O# _4 z
but the value of their assets did really drop significantly.* w# s" v6 R; R8 W2 d# I

" f7 }$ a2 H/ m, Z' b# }1 t4 R5 p[ 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, [9 R/ p9 u  L& m' y
Refer to last example,0 m; _* k0 v( ~. [
that means bank A have no money because we borrow 10 dollars from bank A + D+ _8 A+ _* f, F* Y0 f
Because bank A doesnt have enough cash on hand * v: Y9 H8 j' ^: ~# y1 c
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: e7 \: B# A. u0 u0 B$ `A->B->C->D->E
) o; T" a# j- d' N% N1 U0 tso does it mean if E failed to pay D, 9 X0 ]  P$ }4 N0 R
all 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, + b2 d( t& d: t: O4 S4 _
in this case it doesnt really matter how much money is created, , a$ [. r  X2 I% H( r
it's the problem of the debt itself.6 z; p5 I4 j$ y
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
; \1 O6 ^" S: |- }7 L0 w4 m小弟一直都唔明...
  _: @2 x! ^# f! S, r6 A( H! \- P6 x) t: U$ h. Q  n) p7 r- I
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...5 c4 N  Q% D& _, Z% V4 Y# A& ^3 P
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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  
- K4 Q* c! k$ B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+ Z# n& Z; L2 I+ V; s* R6 {& O6 }) h9 I
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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
( ?# k  T# W3 A) A) C( B8 Y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" p5 i0 O. g* N, N- P
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 J9 g, Q' _' }7 G9 v4 c
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( I* d8 q4 |5 Z4 |# r) X扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ H, {4 P8 x+ {) s% h計番回報率就已經係50%,所以可以好好賺/ m  @1 h9 z" i- A8 P
前提係銀行之間要互相信任先可以咁樣借法
: c/ m+ e/ R% z7 o: n* G同埋個市場既前境要係好先得
( g4 r  N3 d1 F但當經濟一差,公司估值趺了,物價不升反趺
2 v# a& ^4 ~+ c# t  d例如剛才說10蚊的, 趺到得番9蚊, 0 t) A: [6 I! X( c) ^9 U; e
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 ?8 f3 m+ \$ c- O所以你就會覺得D錢好似蒸發哂咁4 h2 V5 d/ `. A7 Y5 \8 o- |

  }- S/ ^& }1 B# @- Y) a( p你都可以當標野咁諗, 個樣野多人可以狂升值,
$ r5 X5 p2 K1 M8 \7 y# I' w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,
5 p, y5 i$ n8 H) ^& v, ]* U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! ]5 m, s4 L$ v. A) ~8 M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 ~, c% w: a% K- [3 |5 k# n8 |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
( r+ u' j1 f8 {4 L% P1 x3 C唔係d錢蒸發, 而係比美國佬洗晒未來錢, & h/ Q- i0 c/ O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; J: r2 x7 o% u: y  w7 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
! q8 ]4 g) b4 G咁你話d錢蒸發左去邊? ...

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正係咁樣
4 O# k. c- n2 _, T' v7 Z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
  ^8 \1 j* F( y- C( I! E分分鐘佢地唔使還錢. O% Y5 @: ]% i
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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,
  Q% W4 [% ^' O) N: I* H5 ^+ c連國家都係問人借, 不停發債券, 印鈔票
# Z& l" a, y' Z9 ~# I9 i一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ A+ t8 M  j2 P" S3 @0 @
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
) |$ M. B' A4 K/ O6 T咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 b( `6 s4 a: j6 ~5 S3 v其實係...
9 g, b' s' {0 s+ A因為以前未生產, 先消費
" D$ w5 ]3 r1 [$ Y而家就要多生產, 少消費