0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  d2 O9 G* i8 r! D6 e+ k1 p0 Q
Why bank will sell 借據給第三者???
) M0 p5 ]) h! I5 sI was so confused.....

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講到尾都係賺錢. t1 d) P: E, w4 U+ T+ v. ]1 V
so銀行可以不斷放款8 z9 I3 M2 W' w9 F4 J0 j
美國的房貸問題散佈到全世界; Y1 E4 h# b# q) ?; I+ I

  j4 k1 @5 k0 \  l5 A+ N2 e) u5 [2 E! Smortgage loan
% D( f% l! ~' G% a$ @>conduit
4 `) ^" c6 T, h9 b>RMBS(Residential Mortgage Backed Securities)
/ I+ B+ n* ?. ~$ f5 C: G7 K>arranger4 I3 d4 m# X4 t% @
>CDO(Collateralized Debt Obligation)
& x& Z  G0 u9 S% {; ^% S最後去到投資者

Kev

i thought it is the reason of rate of return.. F% X7 q! B  T6 d. {7 s
CDs could have different ratings, AAA -> F," o. c7 n. q% d6 _" E& S& F
more risky ones would have higher premium (interest rate) as a compensation for an investment.
  W/ A% J6 [2 j* C# Z3 {, `3 Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 o$ N7 ^( E3 x' Q: nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 f' V! k- Q" B0 x. K& HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% c" c. k3 d7 u$ H% M5 A( P; Xsimilar to bonds, CDs trading in the secondary market have different value at different times,. K% i/ s& ~7 O4 R
normally the value is calculated by adding it's principle and interest.
8 o7 l, Q/ ]/ [) f  q* Yeg. the value of the mortgage+the interests to be recieved in the future.
, E; Z2 ^! v5 s( F! ^# O8 ~: ~( V4 ?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.
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im not quite sure if the multiplier effect does really matter in this case.
% I% V5 J4 a+ Q, tin stock market, it's the demand and supply pushing the price up/downwards.7 d; [: `/ S; Y" ?( E# I5 j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; Z! s  B# x0 d& M0 J) g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 v$ R) Z+ k* g# O; ZThe 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. 3 A3 x( x; L' P+ j+ r$ L( a
but the value of their assets did really drop significantly.
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) Q7 u4 z' E- w5 e7 n; B[ 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# H# u0 h6 ~" D, R& s# y5 H0 ]
Refer to last example,
# _$ [7 ~5 s) R7 x; }* \  fthat means bank A have no money because we borrow 10 dollars from bank A
( z0 H' i7 g$ Y: D  lBecause bank A doesnt have enough cash on hand - l- N; {8 Q4 @) Y4 n9 B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
4 A) \. ^  Y+ |: Cso does it mean if E failed to pay D,
! |# Z' w( D1 kall the B,C,D,E have to go bankrupt?* |2 d/ f8 ~" q8 `
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' M/ y7 O9 |; a- `. c; Vthe multiplier just tell how much money created in a whole economy,
3 |- a' m9 U! l2 b! L. F3 Lin this case it doesnt really matter how much money is created, : q" D- o0 s$ V4 p' y8 y6 Q
it's the problem of the debt itself.
  \" f0 I) ]+ K% T5 E8 f" K' E, C& Ythe 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
! @. L5 A( g8 R- \- L1 p1 W1 Y: {% ~/ D, R小弟一直都唔明..., ?6 X/ c6 n' D& V

( N0 I1 ^; ~5 z) L1 U全世界都蝕錢，咁邊個賺緊錢呢?8 Q+ A; G# y) c: B, N

7 X- ]! N: r" M5 H4 \無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答) F0 T7 s- p. X
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Thanks

8 |3 b5 d$ i/ u% r" a. Z7 O7 p那些根本係 紙上財富  * _& H: O0 a0 d3 ?$ p
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% S# s( p* f* @  R7 Y  K: v. D- c

4 f( X2 f/ U' Z& Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產1 T" P6 f! N# Q% b7 D5 z- }3 s) B2 a
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  j5 w' ?. j# r; ?( K1 m$ q' U8 V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
0 m& p4 m" `: x個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% I$ C( a3 i% S8 G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," m, l% Q! p3 N8 d, {
計番回報率就已經係50%,所以可以好好賺1 Z& d$ _0 z- |& j8 j# a
前提係銀行之間要互相信任先可以咁樣借法2 Z1 h8 u2 H+ Q! l
同埋個市場既前境要係好先得! O# g; y2 b# S3 ~# m
但當經濟一差,公司估值趺了,物價不升反趺
; g' V7 g' X, b2 i1 H9 z: R9 v6 h& J5 T例如剛才說10蚊的, 趺到得番9蚊,
. T- M5 R# L, K" W& [0 ^2 ~8 p! q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! n0 M7 n7 I) @+ f0 _& U, k
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,   [$ \+ r- K% B! c
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,
- J' u: M3 K- B7 }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  U9 H, O6 M! D( a: ]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
; ?1 E& W8 @2 h& D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
' q6 [4 s* `" U" O' M; Z& `2 g( O唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 ?0 B/ f3 o1 j9 o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * y' H* [' m$ M- n/ Q3 q
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# O+ ?) U9 Q6 W6 \7 c* k9 r$ i+ w* N
咁你話d錢蒸發左去邊? ...

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正係咁樣
9 R1 {  f1 b" r- w% 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
0 m: {! l! X1 K* F1 I分分鐘佢地唔使還錢
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, A  e8 s/ ?' M& F7 f1 b8 u/ P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,1 e% C1 b0 g- L# }
連國家都係問人借, 不停發債券, 印鈔票
1 y0 N% k0 w9 O, p& m一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 I9 ^1 h) a2 e( P; @. m: t. {) @
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
* T4 q6 t$ `4 c+ W咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
( _$ u5 }3 c% l# q7 H. t7 N& g/ q因為以前未生產, 先消費
9 u6 b2 s* _) [0 v而家就要多生產, 少消費