0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 n- L8 R6 ?4 W' D
Why bank will sell 借據給第三者???
5 n. }) H( Q4 r9 J7 a' \% uI was so confused.....

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+ \# s1 ]8 K9 R2 b' c/ K0 I8 G) h講到尾都係賺錢6 Y+ g/ N6 O0 Y
so銀行可以不斷放款9 [2 f: V% c0 L3 G* r' q2 x
美國的房貸問題散佈到全世界! U) T$ O4 }4 w; ]1 A) g
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mortgage loan
& P( a( E3 n: g- U( t3 [% M, |>conduit
" Y, K- B1 r  m  N>RMBS(Residential Mortgage Backed Securities)
8 F0 w4 Y" h* H! v, Y/ I  p>arranger2 i9 ]; O/ N! Q( R# N! v' b
>CDO(Collateralized Debt Obligation)' {3 R0 j# s6 ]' e' y4 P
最後去到投資者

Kev

i thought it is the reason of rate of return.
% l9 Y( X: U0 e& h) lCDs could have different ratings, AAA -> F,
7 M4 F7 W7 M; D- r& n% `7 J% Lmore risky ones would have higher premium (interest rate) as a compensation for an investment.
0 L% n9 q5 W+ z# X  [: Lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. a( k! ?6 G) F3 q* ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- G/ [  [* C6 A1 f6 r8 t" ]6 ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' l3 p2 I$ j) U: r+ X. x
similar to bonds, CDs trading in the secondary market have different value at different times,6 i0 l5 U! S( o! X) a
normally the value is calculated by adding it's principle and interest. 9 D. _. {* V8 A. n' N( d/ x
eg. the value of the mortgage+the interests to be recieved in the future.
* h3 b6 ^2 i! a2 n. vbanks 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.$ {" c" B6 `$ n; q
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im not quite sure if the multiplier effect does really matter in this case.+ M: u8 {# }/ Z
in stock market, it's the demand and supply pushing the price up/downwards.
  d9 x# p) V/ Q7 a/ R; [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  I' \7 B1 l6 N: t/ N+ |# c6 VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( p5 Y. u) z! z- S& S8 L0 w$ TThe 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. 9 m2 z2 W9 g! V2 g- A
but the value of their assets did really drop significantly.
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[ 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$ [  ?  X) H7 S( Y& P
Refer to last example,; g; q! k+ ?2 V* ]6 Q' [" L" a1 O
that means bank A have no money because we borrow 10 dollars from bank A   L4 K, [. N' Q- v. I+ V3 w$ |
Because bank A doesnt have enough cash on hand
* e) z$ v5 H% a  s1 x0 V4 q. r7 ?" `therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E( y, x( |$ D& Z1 F& `
so does it mean if E failed to pay D, 9 V. T* {4 N) h% t4 \) g
all the B,C,D,E have to go bankrupt?
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0 H5 R, n& T7 {, }the multiplier just tell how much money created in a whole economy,
$ ^& N& i+ n% |5 u" d) Ein this case it doesnt really matter how much money is created, 6 G% Z& [7 P( U8 \3 f
it's the problem of the debt itself.
" V# V8 m. k7 `' y2 j' ]1 ?8 Wthe 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( Y$ A1 ~" _0 p- Q
小弟一直都唔明...
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; ~- ~6 n( \2 |5 R6 @6 w: |$ J) Z全世界都蝕錢，咁邊個賺緊錢呢?
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9 ?7 E: m. B! P# y5 c無可能淨係有人蝕錢無人賺架嘛...* v2 u# }+ N* |6 y8 Z9 Z

" g* P; D4 t% L& p3 s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  
/ P: w8 {8 T1 M; g( A- O; \' |* G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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0 {, g* V* i, }7 b3 Q! W' ^8 vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! Y# ]$ ]6 E  d0 q' ?# P( N: O當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 s. @3 h0 K! A& i) H) s. `  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: u4 N7 p& P. c) D9 A
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- R' O/ e6 i! W, B$ v% `0 j% {  q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 I* |  L: w% b+ R# e$ u, d計番回報率就已經係50%,所以可以好好賺: Q* s5 k& b. ]0 P
前提係銀行之間要互相信任先可以咁樣借法5 l( h1 J, S. \& y8 ]' A0 E
同埋個市場既前境要係好先得
5 W; G9 D, k/ _9 \但當經濟一差,公司估值趺了,物價不升反趺
2 }0 R2 k9 U2 A7 b7 y& U0 Z9 h例如剛才說10蚊的, 趺到得番9蚊,
7 K' e$ d( e, A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 ^$ s) p5 h# r3 E
所以你就會覺得D錢好似蒸發哂咁. M) h* F: \: f4 R2 [- Z# K- x

" v" e, V4 K! k1 s1 m2 v  B你都可以當標野咁諗, 個樣野多人可以狂升值,
% o8 f2 `# E( D% H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 c0 ^, y% r9 e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 F; M0 V, ~3 Z1 C4 D1 f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
, Z! R4 z0 @2 b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
1 B4 G0 A9 o5 C" Y8 \唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 D7 j2 [: z- ?; {" e3 I. e  e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  w9 d  b5 C% \/ r8 K; 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
9 {# M) {# U  ?* O/ a, o咁你話d錢蒸發左去邊? ...

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正係咁樣' y# h9 a, C' s7 I- b0 }
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; h! B# A; a! f. p/ ?9 J3 b5 w& Y8 B
分分鐘佢地唔使還錢. o! I$ Q3 X0 t9 x- b2 Z$ t0 ?

/ Q; x1 r9 J7 \) s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,. e2 c+ [! E3 ?1 `. i0 ?- h
連國家都係問人借, 不停發債券, 印鈔票- p2 y" B3 c5 e; W4 _
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! ~: Q1 Y. ~) H  \1 @
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! N6 Y* @1 P6 h7 T+ G* V8 X
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...( F2 ]* }# f$ `( a! Q& {1 ?
因為以前未生產, 先消費
; |* e: S# ~2 w! G而家就要多生產, 少消費