0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ H1 q2 q8 z7 M& L# v% [
Why bank will sell 借據給第三者???
1 x+ U$ {) u: w8 rI was so confused.....

. d, _6 [6 e9 c7 |( C& O, p

+ x  X& _+ |! a$ B+ Z講到尾都係賺錢
9 Q+ T7 A1 L- p6 yso銀行可以不斷放款4 Y1 r# {+ |" h* @6 y2 a
美國的房貸問題散佈到全世界! j, s8 `5 [0 K% v( |9 ]1 h
2 X: C7 g  i$ O8 H5 G% O8 ~: `- [# b
mortgage loan
2 E% r# z: U  b  q+ l8 S) }>conduit' Z" N/ f, ?# `- P0 N
>RMBS(Residential Mortgage Backed Securities)9 \5 e1 b7 b4 j$ z2 [2 @4 s# J; \. k
>arranger( n% V  \; x" y' M& o; Q3 r0 ^
>CDO(Collateralized Debt Obligation)
1 G2 O/ z' e- s3 W+ }8 [& Q+ _最後去到投資者

Kev

i thought it is the reason of rate of return.! e6 H3 X9 A9 ~# ^1 h
CDs could have different ratings, AAA -> F,7 C- p4 B' ]8 k4 l8 z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" u$ [3 R0 @6 n- R/ K0 amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 V( L5 T* _4 K& F8 h# a7 G" fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 b$ |5 Q% z4 }+ v2 Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* E+ K9 M" ~! fsimilar to bonds, CDs trading in the secondary market have different value at different times,# C; P- n- s) d1 Y" L% @
normally the value is calculated by adding it's principle and interest.
: ^/ m, @5 g7 r0 M- |eg. the value of the mortgage+the interests to be recieved in the future. " J, N! o, E1 C3 Y! y' _
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.
' `8 F+ a  O1 b
% p9 L' z( M2 T* x" y/ @' F2 him not quite sure if the multiplier effect does really matter in this case.; O5 s. o1 ^5 G! ]# Z. o  a
in stock market, it's the demand and supply pushing the price up/downwards.
$ P4 c* K: Q3 fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# N2 x$ U" q) m/ j4 m' @3 ?0 s
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ R% Y, m; m9 S! {
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 h; Y8 C2 U% X+ V5 y6 X
but the value of their assets did really drop significantly.2 Q+ F# F! a0 X) V; g; K6 p

  `9 w/ C" H* Q& A( G3 ?& e  \0 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* A6 \4 u, g3 _
Refer to last example,; x2 Z8 w6 K# D. [. A; N3 z
that means bank A have no money because we borrow 10 dollars from bank A
( _0 ^1 s; F( m5 K  a5 pBecause bank A doesnt have enough cash on hand 3 d/ p! a' S! e+ n
therefore bank A need to be bankrrupt ??? Am I right ?? ...

, g. Q- V0 B$ _7 P3 ^+ o- v" P/ T, d
- j0 U, L( L, B! R0 h

9 E! j* r* t" I  ^$ X$ o* d  e  }A->B->C->D->E* o0 x' _# l$ j" g& g$ y" Y
so does it mean if E failed to pay D,
  p" m5 h" N- j$ @1 b" s6 x* I+ j: xall the B,C,D,E have to go bankrupt?! w+ e6 c* t7 N& q

5 P9 H0 S7 F: H7 g) Y
% s/ P- x( D+ p& Z) ]- Z$ @. `0 ithe multiplier just tell how much money created in a whole economy, 7 G- B1 a4 ?6 i/ t% f* R
in this case it doesnt really matter how much money is created,
! ?  G4 J3 ]+ l& [, Uit's the problem of the debt itself.0 O' A8 _* E% E9 _5 q1 K* Z
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
9 K, w. _1 {4 h& X小弟一直都唔明...! R# C: \# Y) \% `9 v& _9 k

) W' Y! ]3 N3 v! U/ h  T, h1 E4 b全世界都蝕錢，咁邊個賺緊錢呢?  B* K8 s4 T; ^

/ y( H. `9 c5 N" h3 r9 c0 ^2 |9 b無可能淨係有人蝕錢無人賺架嘛...  O/ i6 Z2 j# \

: s2 N, ~4 I4 A; K. R敬請各師兄解答+ f5 n* J6 S7 Q( C
0 p3 R" Y# W  x/ w
Thanks

$ R! m3 X! J" G' l
那些根本係 紙上財富  
( I! Q8 |6 P( a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) `6 ?8 h; i( @

, z# G5 u' k3 {; x' A& X/ jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產7 ?8 h- s; V: {
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- x, }3 r/ S& L3 @+ }" ~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
1 a- V& y* U' \  m個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ y, S* A; r; G# y( h
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 `4 G+ ~" s2 V6 K8 b- r" d
計番回報率就已經係50%,所以可以好好賺2 H  [. d' Y8 {" G& o
前提係銀行之間要互相信任先可以咁樣借法
3 b) w/ h3 f6 X8 b7 Q& ~5 s同埋個市場既前境要係好先得" G% ~7 v: ?+ w" y2 ]
但當經濟一差,公司估值趺了,物價不升反趺( o, N8 {' {" e: h" f/ Q1 G+ b
例如剛才說10蚊的, 趺到得番9蚊,
, W. i3 K/ _0 [! |' M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% |2 o. ~7 @& R3 N1 y& `
所以你就會覺得D錢好似蒸發哂咁
4 m# S; i) N2 i2 V# [3 ]* C, g- a1 [
3 ^9 k" F7 r4 @' g8 K你都可以當標野咁諗, 個樣野多人可以狂升值,
) f, E% d4 Y9 m& B- \* ~$ 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,
9 l' b/ }' p1 c1 H- Z$ P+ ], J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ \7 W/ y) L! ^4 k' K) Z  D: D5 m' Z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 b" f" f! f( i& |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
$ ~. c7 H# e5 ?, n+ n' T唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" Z3 `4 a; y! k% b7 b3 y! t$ r9 Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! A7 b3 ^2 P5 [+ X4 `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
& D8 P7 m) i9 X& L4 `4 z2 p' }. t咁你話d錢蒸發左去邊? ...

3 M% G- n) Q" F0 i! W
+ E; @, W/ ]% s' H" G# ?7 p
正係咁樣: o3 R4 b3 m8 n% M! {
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% U7 e% t8 K% K
分分鐘佢地唔使還錢
2 O$ [4 b9 q( y% @$ L- U+ R
8 d" g- g5 ?" _0 u' c  o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,# G! ^; H; S( _' B
連國家都係問人借, 不停發債券, 印鈔票0 |9 j# l  e# C2 ^, [2 I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 @( O" O/ C0 k, r9 _+ ~( R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
! H. Y7 w, g0 {8 ^5 n4 F" H咁而家"爆哂煲"算唔算先至係變番"正常"???

/ b% s" g  J. q8 d& N1 H: C  v9 U# V! {( U/ s& e; k( v/ ]- \* f3 c# p7 `% i5 Y
其實係...
6 `% J. l; ?4 @+ g因為以前未生產, 先消費0 T" N  C' q9 s
而家就要多生產, 少消費