0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& j: Y) s0 r, Z
Why bank will sell 借據給第三者???* q. J! |% F* P+ Z
I was so confused.....

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/ [& O- h3 X8 J- v: |講到尾都係賺錢! T5 T+ o4 t) q" U
so銀行可以不斷放款
5 u# P, g( B( }, i1 |0 L美國的房貸問題散佈到全世界
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mortgage loan
" t9 i5 \# L2 o3 P2 k; x3 k- Z>conduit$ N$ S* w& [$ W% u% a
>RMBS(Residential Mortgage Backed Securities)  b+ B9 J& o) B5 {$ j
>arranger
. `0 l) E7 F0 _; h. ^- g$ B>CDO(Collateralized Debt Obligation)
9 h7 Q5 N$ X, W5 Q6 ^* l+ R最後去到投資者

Kev

i thought it is the reason of rate of return.( J9 u# z) V7 K; i. T& Z
CDs could have different ratings, AAA -> F,% ?. [; ^# X! _. h- `/ [- Z) }  P! I
more risky ones would have higher premium (interest rate) as a compensation for an investment., I4 V/ I( |3 m- H" j6 F% i
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' w! X5 F: l4 W& O+ f9 d" i' oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; V/ k% G# H& F/ p6 o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* B  y& U: ?4 I; _similar to bonds, CDs trading in the secondary market have different value at different times,
- x4 l- E1 X" a" xnormally the value is calculated by adding it's principle and interest. 0 e$ p- E! R% J4 ^* V. n+ i
eg. the value of the mortgage+the interests to be recieved in the future. ! p$ I& `* v/ b$ o6 f5 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.
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im not quite sure if the multiplier effect does really matter in this case.+ b. s5 A% a, w% Z
in stock market, it's the demand and supply pushing the price up/downwards.
, |: {4 \- D0 Q: N& AFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' F6 a( g) I5 A) m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( q0 O( u* S9 o9 A6 n8 e8 [: w( ^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. 8 ?; ?7 B( i  h% O! w& Z" {
but the value of their assets did really drop significantly.  ]- P9 }. ?" j6 c

3 q7 V3 H. l' K$ F- a* u[ 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
& q2 s& S/ m6 K2 F6 n8 E" ORefer to last example,8 n6 v5 V0 h) O
that means bank A have no money because we borrow 10 dollars from bank A
5 j8 ~3 S  S: _) XBecause bank A doesnt have enough cash on hand
% A( x* O2 `; J, stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
3 [. u1 s7 J* y$ w9 a  X0 aso does it mean if E failed to pay D, 2 ]& ~' q2 ^3 j! z
all the B,C,D,E have to go bankrupt?9 }' a) E5 z) F$ y8 `

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  A( d* ]2 @4 q" H% }the multiplier just tell how much money created in a whole economy,
: I+ Y% m" [5 Y/ hin this case it doesnt really matter how much money is created, ; o" v/ i' O" z/ o/ O# S) {; \% F
it's the problem of the debt itself.
! C1 q) P' C4 R% Athe 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, ~! P) ^0 {: n
小弟一直都唔明...7 E, b) R1 n" P2 A/ p: [2 W: B

5 e- V3 z9 U. V9 K全世界都蝕錢，咁邊個賺緊錢呢?( J5 u, R9 m8 m) Q7 T, h; S

" I3 i  _* y7 I: Y* E/ L" _無可能淨係有人蝕錢無人賺架嘛...
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3 G, U; k% [/ {: O敬請各師兄解答
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. f# ^8 Y6 V3 X& y. K, RThanks

3 g' p1 ?+ m# C; Y3 j2 N' |那些根本係 紙上財富  * g, u7 {; O) a, ]& Q
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$ ~. q1 G) B" a7 Q( s$ x# d# \. H

, i+ ]% `( M& f% s/ J; Uhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產) N; o2 N) D: j2 {9 }# ]5 F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ `$ t! R- S9 Y+ }
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) p% V" c/ z8 O2 y8 @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 O: v- J8 F  ~6 ]/ E& a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ ^0 ~; H) J/ V' L& X; X, g9 j
計番回報率就已經係50%,所以可以好好賺+ `! i2 @# q9 i' F) @
前提係銀行之間要互相信任先可以咁樣借法
- d5 i8 R- u+ Y8 I9 H同埋個市場既前境要係好先得, G- l6 D4 t6 K) z8 ?& K: c" N
但當經濟一差,公司估值趺了,物價不升反趺
& g, k; o  h2 b2 a例如剛才說10蚊的, 趺到得番9蚊, $ Q  W* N7 t% P/ h; S
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. N5 X- {. y0 u" T( O& s# W所以你就會覺得D錢好似蒸發哂咁6 H( G( x! L$ I& q* @
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你都可以當標野咁諗, 個樣野多人可以狂升值,
8 [% P% O0 b1 D" y/ `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,
( ?$ e. u9 C3 {, ~3 ]- b' _- c淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 V8 G, Z, Y3 @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# ^5 C8 c" `+ {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.gif9 J5 p8 I3 @- I0 {+ S3 c1 g
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 a' A* a! G& i- E: M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & A0 F/ b( q+ j) J3 n, o
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0 M* n4 ~' i5 c, t  N
咁你話d錢蒸發左去邊? ...

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正係咁樣; g' O* }6 u- c; w3 N5 J2 W
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
4 }9 _- D! J, L  B8 K$ n$ w分分鐘佢地唔使還錢
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% y: K. W# [9 |0 q% G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,: {% W+ R0 T# t! c; a, g# E- w
連國家都係問人借, 不停發債券, 印鈔票( U5 }. A  Z3 G
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! W  u1 c5 \5 @; _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.gif4 E! k1 c+ P, S/ }( _1 i' M' W
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...5 x, P! @" K/ L* y* i
因為以前未生產, 先消費# J1 g* c9 o% o9 p$ }
而家就要多生產, 少消費