0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! T# k/ k3 a0 m! J
Why bank will sell 借據給第三者???0 T$ V0 i. V2 {( o- h+ j# i8 S9 F
I was so confused.....

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講到尾都係賺錢+ B# r- Y  Y7 a/ C
so銀行可以不斷放款
3 [+ ~" ^) q8 B5 `- A8 P+ n# h美國的房貸問題散佈到全世界: {" i! `8 R4 G, ]* c/ ?( r

$ g2 B; d- E& wmortgage loan ( K; [2 D4 t4 i5 b  {( k7 I
>conduit
' I$ L! R* _% I" P4 H' a, {1 l>RMBS(Residential Mortgage Backed Securities)0 S  `0 N8 Q* d' V
>arranger) s. M0 z# g  \! B/ H
>CDO(Collateralized Debt Obligation)! }1 u  V: E3 j! _7 G7 A; y
最後去到投資者

Kev

i thought it is the reason of rate of return.3 y+ p( q1 R( Y: j2 Z- X
CDs could have different ratings, AAA -> F,4 a8 l& `% K# p
more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 g' P% L* g+ D( ~4 A5 T$ A/ amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 P' n* e  }" s0 O' U7 \
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; I- k+ _! K% R5 _, i4 O- Y! u9 q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 V: ^" j3 I1 X& [! t! _  M4 gsimilar to bonds, CDs trading in the secondary market have different value at different times,
* {7 p) {3 i: w9 i: c0 J7 nnormally the value is calculated by adding it's principle and interest. ; {5 u) h+ Q" S' S6 d2 V
eg. the value of the mortgage+the interests to be recieved in the future.
/ P6 _! t9 \1 j; Y8 Tbanks 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.' d9 a5 U' B* g- X" Q8 e2 s
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im not quite sure if the multiplier effect does really matter in this case.4 r1 a; s# F, ^3 A
in stock market, it's the demand and supply pushing the price up/downwards.
) _4 \! C$ l0 g4 z; p0 F! CFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* l) e8 c1 R3 K3 |( ]5 Y  t: [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% x5 t# s1 b2 o0 ^0 L& ~/ q& F) RThe 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. 7 w, ]7 V# z7 h; d6 H/ f! B! u
but the value of their assets did really drop significantly.5 r5 O3 u* }* |. G  Q! I. N  y

1 r7 \+ C& h: G0 Y, d0 c0 J/ s# P[ 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
3 r# N/ }! k6 WRefer to last example,4 t+ r( X" q* D. V" i2 r. t
that means bank A have no money because we borrow 10 dollars from bank A " S$ @7 O- L7 n
Because bank A doesnt have enough cash on hand
. k3 F6 u. P1 H" b7 m" v) Atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E) C( K: ~2 s/ v9 n+ M' G
so does it mean if E failed to pay D, 2 z- n/ k/ Y  K2 k
all the B,C,D,E have to go bankrupt?# q  y4 G! n+ O3 u0 ^
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: Q) L+ z( R, [" {7 J( Q7 D  gthe multiplier just tell how much money created in a whole economy, ) V$ }; c! h$ U$ N( T
in this case it doesnt really matter how much money is created, . d: u; U+ Z& g# I! l
it's the problem of the debt itself.
8 ^; A- Q& H" A  zthe 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" J& c4 B3 c$ Z8 g: _( \7 h
小弟一直都唔明...5 z! \/ V- a9 x$ t
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全世界都蝕錢，咁邊個賺緊錢呢?! Z$ _" S8 |* O% S$ c
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無可能淨係有人蝕錢無人賺架嘛...6 \- Y" r* v5 R( O+ v" y7 ?( u) P4 ^$ v. H

$ {: n8 |8 Q  h5 k/ C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  / E2 x; @) b6 {8 z1 J
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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; j( V: G9 S, P7 o! j5 Q# f6 ]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
3 W6 a2 i( k0 n; e當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( @3 v/ I: C: D5 U4 |  O9 M( e" `
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/ N( V5 W' F4 F8 d
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& \: e5 e( n3 U9 Z' V  Q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 t/ ~/ N4 v4 K- C% n計番回報率就已經係50%,所以可以好好賺& ?1 J0 t/ C1 z. j
前提係銀行之間要互相信任先可以咁樣借法
. T+ ^5 g1 J7 `同埋個市場既前境要係好先得. }2 o, n9 @0 v( ^+ i
但當經濟一差,公司估值趺了,物價不升反趺
% z9 F2 a# J/ A; C4 f- H例如剛才說10蚊的, 趺到得番9蚊,
: q+ c. u. F) |; h* b咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ x  ~* K3 {8 C- m所以你就會覺得D錢好似蒸發哂咁9 B3 M% a2 m1 {! u# [

* e& s# }* h" ~" y你都可以當標野咁諗, 個樣野多人可以狂升值,
- B3 B3 j$ N0 Q/ e6 @* F2 U3 e, F% 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, % E0 q4 [- a; ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * N+ J* u- G& R3 J* O+ G9 e
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
! ?7 A$ T, z. p' S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
  e6 N* j! S$ p( D2 p1 |唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 D9 L( s  R- F" ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 R2 ?1 ]; ?7 T  C4 h1 A) L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
( a; J: _) g6 E2 c咁你話d錢蒸發左去邊? ...

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正係咁樣
. ?7 r* C7 C7 g( c( K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, ?# f  A0 i$ f5 C  Q2 c8 n
分分鐘佢地唔使還錢) ?+ M3 ?, ]  d" v
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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,
/ d6 N1 L# k+ P9 i連國家都係問人借, 不停發債券, 印鈔票
5 h8 q4 g2 A& M一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( x2 v4 l8 H, M" n  {4 p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( J9 \- F! t! ?5 n咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 b$ t" j* c$ ]5 O0 E其實係...2 p5 l7 H' o" u4 B. b4 o* @/ W" n% [
因為以前未生產, 先消費
7 ~4 z( l: J2 A. ^5 ~而家就要多生產, 少消費