0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 a  p& {1 K3 x, a
Why bank will sell 借據給第三者???% h# H  V- g. r9 W2 E! `9 {
I was so confused.....

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講到尾都係賺錢( O5 G9 F- M: F4 }1 `5 J
so銀行可以不斷放款2 d% l$ i$ k8 l# F/ p- A
美國的房貸問題散佈到全世界
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mortgage loan 3 b9 }- y: x; w' }7 q# x
>conduit. w" U( Y+ C0 @2 r6 U7 m
>RMBS(Residential Mortgage Backed Securities)
7 u- ^+ d4 x: q& J>arranger3 R$ [- h. \/ P* f& w# Q1 R& p
>CDO(Collateralized Debt Obligation)/ @0 P6 c. ]5 x% t7 Q6 I+ A1 C& `
最後去到投資者

Kev

i thought it is the reason of rate of return.
0 V3 U+ K$ Q: z! WCDs could have different ratings, AAA -> F,8 `9 h) S$ Q- @! }* I/ i: ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
% ?. w! M* W# O: _/ J( n1 \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," q% K7 W/ `4 f' f
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: f$ K) v. Q, Y: O; _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- v2 A/ e. B8 _+ D7 r, L: l5 W
similar to bonds, CDs trading in the secondary market have different value at different times,) A+ i% `: O6 U# t* T; @
normally the value is calculated by adding it's principle and interest.
' }0 S$ G/ H3 ceg. the value of the mortgage+the interests to be recieved in the future.   l6 k' V2 D! w( |, g
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.  c: A0 F' h: f! k/ m" v3 f
in stock market, it's the demand and supply pushing the price up/downwards.6 @& o. n. f* y8 M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 A- d  }3 _& gA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! B7 Y1 U; a( f3 }; {1 F
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. / B" s6 u5 S; O% k$ @6 @, p5 n
but the value of their assets did really drop significantly.2 l( U0 _  t0 W8 J; O8 ?) _6 \
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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
2 b: P; X, v% z' z. `' QRefer to last example,
% Q$ S  y3 c* p. Uthat means bank A have no money because we borrow 10 dollars from bank A - v8 V, x1 @4 W6 q1 i
Because bank A doesnt have enough cash on hand . k# G8 D; T# J/ {  S5 ~/ i( L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* L: u+ l# o: U1 g7 F" |& s3 IA->B->C->D->E
4 ?3 _9 [3 D8 @% y  N6 mso does it mean if E failed to pay D,
" P/ ?4 G" T9 Zall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
7 ^5 d+ g8 q  h. b; {in this case it doesnt really matter how much money is created, ( P& A! l# V- q
it's the problem of the debt itself.  U# O8 R2 X: d+ o7 x% ~0 Q
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.gif
& o+ `) Q/ x3 b+ I% H小弟一直都唔明...
0 ^* B/ p% @: P6 @& D3 v8 z: n$ k$ V: `6 Q# L# T: e7 Q: b* q4 U5 o
全世界都蝕錢，咁邊個賺緊錢呢?6 l5 l+ v! k' N; i! _& s1 \

) F0 c  C$ }6 M0 ~5 S3 l" R* s6 x無可能淨係有人蝕錢無人賺架嘛...
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; G% N; v; m$ q7 _' f$ M6 Z敬請各師兄解答, P8 u( X0 j1 M  M* V

: P) Y( j6 I0 C3 a! _Thanks

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那些根本係 紙上財富  2 W% T0 p0 _! i6 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
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  l; [( H7 ]- F- T1 D% z) h* x4 Xhttp://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 x- y: C2 w1 m! X
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ F% W. a5 a. Q/ ?0 b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) ]* g, @6 x3 d5 w% s
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 |! ], t; R' W+ @1 U扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. V8 P" x5 S0 N/ {/ L( Z1 y1 |
計番回報率就已經係50%,所以可以好好賺
6 b+ U# ^8 c% {, U  H- J: V前提係銀行之間要互相信任先可以咁樣借法/ U, @% l5 X7 _# C- X# D
同埋個市場既前境要係好先得0 H" P- \, f5 T6 P7 K* G; d
但當經濟一差,公司估值趺了,物價不升反趺
' ]. d) z5 ]0 E- r; J例如剛才說10蚊的, 趺到得番9蚊,
# \. c  C* E! w- t" x咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, W$ K( q0 \0 b- G5 T
所以你就會覺得D錢好似蒸發哂咁. y8 E" ]5 O5 b" e0 ?" R, A: k$ k

# T' H9 N/ S! \& R& ?) `  f你都可以當標野咁諗, 個樣野多人可以狂升值, & w& L$ u! s4 L3 E  }; F
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,
) l+ R& H3 j, }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 R; t7 R6 z1 S, E0 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4 x. M7 m7 k3 E! ~( l9 o
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
4 _  o  H; o' P6 D. T1 X/ S, S唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ D$ K+ ^5 E: ]6 G8 A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 m3 u2 w6 Z+ _& N
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 c5 ]( l' M6 h咁你話d錢蒸發左去邊? ...

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正係咁樣: ^0 x  x+ a3 I5 C* @# r
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' ^: O7 Z  _( i- O% x  Y( z1 ^' U
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,
( W5 D8 B% h/ L1 P連國家都係問人借, 不停發債券, 印鈔票
9 w7 t, o' @0 O* ]一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 j) i" v* A3 z) `& P, ~4 M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.gif6 x+ [. w7 k- \* A% Y7 Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 l& p( A6 h! B# `0 G其實係...
. ~( D& |* ?, \6 d因為以前未生產, 先消費
3 ]" m. G2 H6 b; A+ o而家就要多生產, 少消費