0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 i& k( k+ L. p3 N5 x* |Why bank will sell 借據給第三者???
8 l4 j) m, G4 B/ [; }I was so confused.....

  }) H2 j2 a0 d" y) P+ T8 @1 \  Q5 z, R4 D/ n) b: i. i
講到尾都係賺錢
5 N- k0 n' }- c" L  ?9 L% u5 g/ a6 Dso銀行可以不斷放款- U; N( V  q$ b! `6 F; G
美國的房貸問題散佈到全世界# s% z/ t& c5 _, m/ i( G
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mortgage loan ! l# [) N7 V7 ?* {
>conduit, l2 z1 e7 \; {2 Y: Y( E2 o
>RMBS(Residential Mortgage Backed Securities)" ?0 m/ C  i% e5 u
>arranger
" p) }: L6 \5 J6 q>CDO(Collateralized Debt Obligation)7 f& f+ u1 T1 A: Y3 }, v8 g$ I
最後去到投資者

Kev

i thought it is the reason of rate of return.. O5 D. C9 ^& X1 s# C) Q" f
CDs could have different ratings, AAA -> F,
. i# a2 A" m5 p: `more risky ones would have higher premium (interest rate) as a compensation for an investment.( m0 s  O+ S7 J) [& }, `4 U& _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- k3 [. ~8 e$ P/ Z$ C1 E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 C1 \" W6 R+ X* X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! ~: M! t: r+ {$ [8 p  z2 V  B# Xsimilar to bonds, CDs trading in the secondary market have different value at different times,4 ?+ e+ r# W; a( M* A$ o, M( k( q
normally the value is calculated by adding it's principle and interest.
$ w( j6 E5 s" {  jeg. the value of the mortgage+the interests to be recieved in the future. ' }1 @2 G" C" l6 M2 H9 s8 ?
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.0 j( Z" r& C4 G! j1 k$ H
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im not quite sure if the multiplier effect does really matter in this case.* U5 O4 `3 o! r4 |
in stock market, it's the demand and supply pushing the price up/downwards.; C3 n" X9 m, w8 J; c
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," ?9 d& h- v9 m1 c) n8 m* V' [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ Y0 @( ]+ Y4 S5 P6 pThe 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. 0 i) j  R& i: S! a& b' U5 x
but the value of their assets did really drop significantly.# z. o' Y) k6 M& B0 U7 X

$ Y) g2 ]+ v$ K[ 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
- T6 ?) V& a6 S8 W% gRefer to last example,  n1 ^; @( \+ K0 C
that means bank A have no money because we borrow 10 dollars from bank A # K- i$ k- d0 U& }4 T, d! \
Because bank A doesnt have enough cash on hand
/ q" J; X) E2 \5 B8 \$ X7 btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 g3 _, d* C! KA->B->C->D->E5 O# R$ ~# Y7 ~9 ^7 v1 `
so does it mean if E failed to pay D,
2 q7 @* D3 F: h1 M/ q; @& rall 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, ) e: q; @% w: `" D2 c" [# F: m* B/ p
in this case it doesnt really matter how much money is created,
% _9 k: ?4 }, k$ f; C9 sit's the problem of the debt itself.. K" H6 k  }1 z4 S% M! X' K6 n) n- _* 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
7 V. B, [( @; r0 ^9 j6 k小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?/ l: y3 K# P% h+ M9 q+ O) T
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無可能淨係有人蝕錢無人賺架嘛...' ~. F# `3 w6 I5 k; Z' |* k0 }

4 U& Z. M" R1 R9 [& d2 _2 ?# @$ l敬請各師兄解答
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9 Q  S' f2 F/ \( v; [Thanks

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那些根本係 紙上財富  . g  M* H0 d! `/ w% _1 ^6 ?! D3 O
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# B8 Y% A3 ?0 z8 t7 G

/ P' r4 p5 g8 V4 p* 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
) }0 l0 r0 H3 J/ |5 X, t當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% d. O9 n( ?9 G/ ]: l+ p3 T0 {; |. _
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  I. w& i' o0 q5 \' e( [) O
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. E) x1 O$ A9 h: r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 }  l( D# }5 \9 N! b% e: L3 Y計番回報率就已經係50%,所以可以好好賺5 u; h% [4 s( I) Z. M" K5 a
前提係銀行之間要互相信任先可以咁樣借法' q# p, E  f) C- k( B! L8 ^8 u
同埋個市場既前境要係好先得: W- K8 F: m: R! N% `
但當經濟一差,公司估值趺了,物價不升反趺7 E% E+ A5 ^8 {2 }* }
例如剛才說10蚊的, 趺到得番9蚊,
# ^9 `1 g+ ?$ ]4 C! E# [& B- b咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& Y, o+ c) |6 K9 i( ~7 q4 S$ ]所以你就會覺得D錢好似蒸發哂咁5 S5 h/ U4 ], Z$ l0 R* G

3 s3 v4 G4 V0 j+ c  W7 \/ Q' x你都可以當標野咁諗, 個樣野多人可以狂升值,
$ y/ R& Q, k: d) [# [9 g  x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, / U: C; k/ V) {, ^! b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . C: [9 H( M1 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( y1 ~4 o. w9 N1 b, j
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
. x2 O# v' c$ |! e9 O唔係d錢蒸發, 而係比美國佬洗晒未來錢, . u5 U4 v. r; l2 s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 k" M* B8 _  I* @! R5 M- F8 G
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
3 t3 i- ]: \: {: }0 u3 i; z. [# I咁你話d錢蒸發左去邊? ...

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正係咁樣
/ f: x6 ~  n* l6 X5 e$ q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. b- a7 @0 w3 A* \, z: X" \- H
分分鐘佢地唔使還錢3 _: Q* Y) R, J9 ]1 t* S7 M
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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,# P' |- Z5 b) r
連國家都係問人借, 不停發債券, 印鈔票% P2 o) l) x: \3 G4 |5 O  C4 O; `) c
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: s- J+ V+ t: k
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
) P* y1 p( l: ~2 B  |咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...: t7 V, C% e  V2 W/ O
因為以前未生產, 先消費. i, e: P# j% s' m! {% ?6 P
而家就要多生產, 少消費