0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& G, D, l! B) p, B: R! h& R
Why bank will sell 借據給第三者???
  G" |% r: Z) P8 j1 a* qI was so confused.....

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2 o/ H: N! T& w2 X" J) o/ w講到尾都係賺錢) t  ]( s2 l) B' h& E: O
so銀行可以不斷放款; Z* V, a- E/ x1 f
美國的房貸問題散佈到全世界
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: s$ H# u8 o) K/ a  E) `( Nmortgage loan
9 N/ f1 c0 ~# N3 c! K$ J>conduit
& c. K9 I$ X' m  D- i>RMBS(Residential Mortgage Backed Securities)* \( Y' _( x+ X. R7 `; P7 G! n8 ~
>arranger% G9 |! J6 i* o5 e1 W
>CDO(Collateralized Debt Obligation)
" t5 n0 Q2 r! y2 T7 O' b4 ^最後去到投資者

Kev

i thought it is the reason of rate of return.
+ K4 R6 f* A# y/ w9 O0 d# `CDs could have different ratings, AAA -> F,7 T( q. Y6 i4 J. N
more risky ones would have higher premium (interest rate) as a compensation for an investment.
  C: P; M0 c) I' k) j5 d7 V; Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  z# E% e5 p; N+ d
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ U/ A/ F, }% C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  @; a( @7 r, @- n2 g% `similar to bonds, CDs trading in the secondary market have different value at different times,  F8 P- J6 c! g8 s) U& f: W
normally the value is calculated by adding it's principle and interest.
6 O, e$ M  f. x( R8 Keg. the value of the mortgage+the interests to be recieved in the future.
) m2 y; E+ Z! K( y1 hbanks 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.! ]. x* ?8 N( h- S, J! F
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im not quite sure if the multiplier effect does really matter in this case.* @  w6 x$ s2 X2 E6 N- M( o
in stock market, it's the demand and supply pushing the price up/downwards.
' ?: U3 s( W9 U9 p. _For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- j) y0 h( b' t3 Y8 AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. y- N4 Y  c/ JThe 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.
$ y+ B+ K  K0 @7 t0 M; m( @/ I( P! [! Cbut the value of their assets did really drop significantly.
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0 u& A% r* T, c+ k  u+ q( J( W1 H8 s[ 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  ^# N, s' b  P# V  t
Refer to last example,
, B& B9 e- O6 Ethat means bank A have no money because we borrow 10 dollars from bank A ( }: G8 E7 p% |) A
Because bank A doesnt have enough cash on hand
' ^  H- h' r, q& o# n1 vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ l' P( Q" [2 k" rso does it mean if E failed to pay D, 8 U  E$ J8 H$ c+ H8 Q8 g
all the B,C,D,E have to go bankrupt?0 j1 v' q# ]! |4 A

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8 l' i. t0 l. Rthe multiplier just tell how much money created in a whole economy,
( x8 C0 K0 u% I$ J( U' }in this case it doesnt really matter how much money is created, % e6 k, Q+ o8 v( S$ w, y. p3 {
it's the problem of the debt itself.3 H6 q; K4 u4 Q0 z( 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.gif5 u7 d* M/ A2 p+ F
小弟一直都唔明...0 s0 |7 F9 x* I. L/ l' v- l
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全世界都蝕錢，咁邊個賺緊錢呢?
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/ y5 F1 r2 {+ F0 a/ O; I) v無可能淨係有人蝕錢無人賺架嘛...
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& O5 _* L- P) S) G0 n) W1 x/ T6 _1 J敬請各師兄解答
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  O. O/ V7 R/ U4 QThanks

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那些根本係 紙上財富  
% g  V; w! p5 J6 W7 L0 a2 m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$ v9 P) }8 Q. B# P1 G% i/ ^6 N5 {

' W4 s! g+ X5 c% B1 h! q/ Whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產- @, R% X' r3 g* r1 ?! O, }
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 h! h2 X5 V: w0 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- v. f; H1 b7 r' G0 G
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ o: @5 f5 R  g9 a6 ^
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 S) W, n3 c9 g. @$ F( m計番回報率就已經係50%,所以可以好好賺
% v6 y0 `3 {9 z前提係銀行之間要互相信任先可以咁樣借法6 S5 b7 Z" ^  T
同埋個市場既前境要係好先得5 F$ ]% m0 ^6 ^' v
但當經濟一差,公司估值趺了,物價不升反趺
! e2 M& V) R( e5 L" s9 F例如剛才說10蚊的, 趺到得番9蚊, * L- m8 r9 o( G& c  f, t9 u' J' b
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ C: }' c+ `4 y
所以你就會覺得D錢好似蒸發哂咁$ H1 `; Y/ {/ M* k  k# J) p

9 c' X7 n; k& M5 R你都可以當標野咁諗, 個樣野多人可以狂升值,
, r$ L  H3 O5 ?$ N% s/ D3 N7 Q* v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, 7 t7 W" T4 W! M# }' N, w) N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 Q# U3 F6 J1 t8 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  j7 A% B$ @8 r, J" b1 ?: N. t
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.gif5 L8 b3 a/ E/ N, h! S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 J% g: a3 Q' `7 x6 v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - ~8 n9 h) O$ {3 `
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% L; a" q- G. ]( D2 n: D1 s& E% ^" @
咁你話d錢蒸發左去邊? ...

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  M: |4 p) w& d( |+ g& |% ]  X5 Y正係咁樣% o0 V& |/ i" D
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
+ a* W% w# }& p0 J  i* L# ]分分鐘佢地唔使還錢
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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,
$ Q4 Y5 N3 E5 p2 a2 |5 s( A連國家都係問人借, 不停發債券, 印鈔票3 R" `5 s% J7 x1 y& j. p$ M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 D  F6 G5 J" u) a
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
: I  _6 T( j$ F; h$ |% {咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...: \. n# v4 C3 I% ^
因為以前未生產, 先消費
9 s# F8 V* h" z0 ?* D0 p而家就要多生產, 少消費