0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) d3 |- l7 N/ o1 k
Why bank will sell 借據給第三者???
4 O0 d, }/ ^% r. {# kI was so confused.....

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$ }; w4 O- B: ]% o: B; N講到尾都係賺錢# E7 c) e! J$ l# f! N
so銀行可以不斷放款- @1 _7 P/ o& a& U: d$ Z1 j
美國的房貸問題散佈到全世界+ W& o4 P5 G4 L1 L2 P0 l* V; {! V

* X3 m+ Y* A" \5 cmortgage loan : L6 |7 i9 A3 J2 Y/ f( l' y
>conduit
* G6 a- v5 Q2 e1 q) \- v>RMBS(Residential Mortgage Backed Securities)2 c: H$ ]# s+ y9 K7 U' x9 l
>arranger
. s' G# Z# H. e! m' c>CDO(Collateralized Debt Obligation)8 M, m0 I1 m1 \
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ [0 p3 T) \- ]2 |CDs could have different ratings, AAA -> F,6 `5 q% U4 v6 V, s; T& v
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 x' d- @. X) H3 i+ Q! }( mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 L; f' z3 Y( q& {; u. nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 _) u5 A: ?) p3 ~/ `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) d% F4 {. `' W9 ?, d* ]6 gsimilar to bonds, CDs trading in the secondary market have different value at different times,  g" R% \* ]- O( A* C3 o
normally the value is calculated by adding it's principle and interest.
; D" I2 \8 `9 V! R/ Geg. the value of the mortgage+the interests to be recieved in the future. ) s" w; E% I3 ?  r; q' g
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.. J  @. Q0 x) N& y
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im not quite sure if the multiplier effect does really matter in this case.% w% p# e$ j" l6 l6 w
in stock market, it's the demand and supply pushing the price up/downwards.
. M- t' P& \5 m, ^0 `' j1 f3 nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 E& w) W. n5 n- b1 ^2 J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 ~# ^0 t. l' d
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. % `' \6 P0 V; i' S; I) a
but the value of their assets did really drop significantly.
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7 F5 M, }+ J+ ^( D4 ?- N6 a[ 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
2 k' Z; J6 p- E. }1 ~5 fRefer to last example,
- b) x) x( I; gthat means bank A have no money because we borrow 10 dollars from bank A ! B/ A. E, [4 X% H! B7 l7 d9 W
Because bank A doesnt have enough cash on hand 9 a! s- q* Q4 l
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ w- T& Q. C" {1 B
so does it mean if E failed to pay D, 1 d" E6 z. ?1 N& F
all the B,C,D,E have to go bankrupt?
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0 k* m; [3 w3 jthe multiplier just tell how much money created in a whole economy, 0 ?: v. n( [( k5 V9 v# X6 x$ @
in this case it doesnt really matter how much money is created,
" g7 Y4 o- h- i; I5 ^! _it's the problem of the debt itself.: ]: c; T$ h; O& ?! }+ p4 Q
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
& q2 b7 o3 L0 I! Y3 M( m小弟一直都唔明..., o# u( J! Y2 b# J3 d
, }) R4 T7 d1 i2 j6 N( F6 S2 j
全世界都蝕錢，咁邊個賺緊錢呢?, r' [- ~$ h0 E' X

( d  I+ D6 x& {# X/ c無可能淨係有人蝕錢無人賺架嘛...4 p) I+ z' G9 s& }# y

2 @  T9 r% k$ R3 p. F6 F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  ( w$ D! _7 a/ o3 v
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! q' Q2 C. w: d( |0 i6 _+ k# B  a
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ M$ F& d  \) A3 i- w# r2 s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! a, C( [/ p3 B4 b# X* m
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- _) Q- T& Q6 u扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) Y1 s& T$ g) w" C8 z& i& i0 ?計番回報率就已經係50%,所以可以好好賺+ R8 ^' M: [/ c9 u4 V/ Z
前提係銀行之間要互相信任先可以咁樣借法
1 v* k5 f2 h. N* p/ w% E同埋個市場既前境要係好先得. [- |1 L: w' ?2 K* a: A
但當經濟一差,公司估值趺了,物價不升反趺
$ a  O( k" V: m& w' C" a例如剛才說10蚊的, 趺到得番9蚊, # G! M! Z) j, Q; c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. G0 {) }  N2 c1 |
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, * Y6 o* [5 ~- ^6 l  M* \
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, " E+ u3 T  w+ y: ^3 E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 r' Y0 d9 A7 D/ e( x+ r3 K' O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* S" M$ n3 Q" u- ]- @1 j2 E
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
! g% P( a3 O( F% x- c" K唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 k9 O& P0 C& p# U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 v; X# K% M" k- U/ U& 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+ R9 x+ ~. q$ f# s  X% G1 z8 k6 G
咁你話d錢蒸發左去邊? ...

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: W; i! E, N% D$ L+ z( [正係咁樣
/ C- q9 f! n# y# E7 H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
2 S( n) L( x* ~' q0 K# Q分分鐘佢地唔使還錢( L" x% G3 q/ Z* D% z% J' Y! u

% u9 Z6 R  e* C0 j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,
: P  Z2 Y& f/ b4 e% i連國家都係問人借, 不停發債券, 印鈔票
- D" l: O3 H* D, u- h+ ~& h一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 q1 k. A% P- W; G6 X
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
" L! r9 J0 x0 u5 }7 O/ V# j咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 W3 \$ y( P: B8 |2 x. u! o其實係...
6 u, u: s: K( I, }2 ^* k" j因為以前未生產, 先消費
+ [5 q3 i: ]1 n" Q, `1 d而家就要多生產, 少消費