0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& j, W4 ^, Z1 u" @* e/ Q
Why bank will sell 借據給第三者???
: _5 b4 s% D( G; P0 @) II was so confused.....

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  F0 x: a0 Z4 y# Z/ H4 j講到尾都係賺錢
6 d! c# U) r) x3 Wso銀行可以不斷放款( x7 |2 S2 ?/ I1 k- `8 c: A& a  R
美國的房貸問題散佈到全世界
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mortgage loan
- \- ^0 J8 P: R% p; \$ Y>conduit. q/ a: z8 k9 G. c# d8 R
>RMBS(Residential Mortgage Backed Securities)1 m3 f. ?! r* R3 E2 {# S
>arranger
  o6 f6 n7 k3 G( `: j* ^0 u>CDO(Collateralized Debt Obligation)
) d8 n: B  v8 A$ J最後去到投資者

Kev

i thought it is the reason of rate of return.0 H# k# s# V& U2 j0 H
CDs could have different ratings, AAA -> F,) p  ]2 b+ A( \( r+ S- x
more risky ones would have higher premium (interest rate) as a compensation for an investment.; S1 {& T9 B2 Q7 c: M: ]1 k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 w3 Z$ }, S3 v" Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 j. w6 Y- z5 R1 U# `: _0 w4 v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' c5 M3 N  J0 h
similar to bonds, CDs trading in the secondary market have different value at different times,
, V- H+ q) Y& Y! f9 [3 Fnormally the value is calculated by adding it's principle and interest.
* L4 q7 d( r$ H' b( heg. the value of the mortgage+the interests to be recieved in the future.
; Y) a& W3 L: K8 d# h9 ubanks 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.& O4 a+ T+ U5 D5 {* A9 L1 C

2 S" Q6 @& B8 U! Y- {7 sim not quite sure if the multiplier effect does really matter in this case.
5 F  O9 B& J$ F/ u& ]% Min stock market, it's the demand and supply pushing the price up/downwards.
2 p' D0 v" B  Q' `  ]8 r& h1 cFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  g8 p: {! i9 r" v8 QA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ p2 r& O/ `) P! DThe 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. 6 {: k* A" \/ r/ E" |1 q. M+ t3 w
but the value of their assets did really drop significantly./ W+ [! `5 ~3 x7 H% c5 _

0 I; j/ X1 @! A[ 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: l1 i% j( Z# e4 _. h# k) D& Z
Refer to last example,& ~+ d' A8 i/ N( f% A( Y
that means bank A have no money because we borrow 10 dollars from bank A
; Y8 a, A2 I9 G% f# s( G2 dBecause bank A doesnt have enough cash on hand
3 E; I( u/ X8 `  W# c# B; Xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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# j; ~4 [$ v3 i* U* KA->B->C->D->E
! K4 [  b& k# X$ Pso does it mean if E failed to pay D,
; F+ _5 |9 }$ N& H1 [2 ]4 _, U- D3 iall 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, & w, x7 ~/ p0 o! \6 x
in this case it doesnt really matter how much money is created, , M& R7 C3 x5 }9 @$ g
it's the problem of the debt itself.1 }* k& E/ h6 {) ?
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
; u2 Y3 Y4 W7 T小弟一直都唔明...& }. p1 k( Q3 C' R5 \

8 m( |4 F; Z2 j全世界都蝕錢，咁邊個賺緊錢呢?- U5 B7 K7 W1 E& ]
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無可能淨係有人蝕錢無人賺架嘛...1 b2 i3 ~; b2 ~5 Q# W

* k2 W% O6 i! u6 V# B" x% N敬請各師兄解答1 L# }' E; v# q
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Thanks

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那些根本係 紙上財富  
# l% d# `" M( v2 ^! x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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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
! `6 d0 m% T9 M; f) `, e- h2 j當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* l9 j4 d' E- X7 Q+ `8 W+ ~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3 `3 S7 ~# K$ P/ Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 ?3 V/ G( v) D, @) ?7 p5 O扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 n1 z# b% @, S8 X5 v計番回報率就已經係50%,所以可以好好賺  N" Y$ t$ w. {  V! a
前提係銀行之間要互相信任先可以咁樣借法
" L  C+ y7 ^9 M$ Z" G同埋個市場既前境要係好先得. c- v3 F0 c. @
但當經濟一差,公司估值趺了,物價不升反趺
9 x8 x, B% w+ z7 |# [/ j$ @# |  l例如剛才說10蚊的, 趺到得番9蚊, 0 O( x7 i# ~0 I* N' H# I8 j
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 {% T4 v0 m) [3 C/ Q9 s6 X所以你就會覺得D錢好似蒸發哂咁4 O/ B1 B4 Q/ U* R" A. ^/ m2 _

6 ~$ H2 a$ U$ P' C& i3 \- G% [4 g你都可以當標野咁諗, 個樣野多人可以狂升值, 7 P* q" R8 b  Q- c$ P/ A
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,
" X+ {" x2 D1 N+ |& v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 ?' e  t( c# T( a7 n/ a; G3 x  m
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) J5 c  K' \- J# X9 m" _; Z$ K$ h, e
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* X' j* c. v- \( }$ v7 Z$ A0 a/ {2 p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 `+ Y; j) V0 c4 O- M- X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ d. x- ?* C0 X- Q7 \7 z. @$ ]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( R( g2 B4 t1 I% F
咁你話d錢蒸發左去邊? ...

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正係咁樣
! U# T) I; ]( I) L- u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# m' c5 y, N5 ], V+ o
分分鐘佢地唔使還錢; m% e& W9 [, Y" o

+ h/ b' L6 e% Q% |7 i( _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,
0 p* V4 k3 J# }' s* D( ?- }連國家都係問人借, 不停發債券, 印鈔票2 p' y& a; Q4 P
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# W) {  f: ^% O5 G$ T6 h; Q
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
8 ]5 d) h/ W) ^) @2 X/ I8 E* D咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 X& D+ V- q- R: N' e$ {其實係...
0 q" R9 t6 i- r9 n4 S5 j' e+ |因為以前未生產, 先消費' S2 `, y. K6 m
而家就要多生產, 少消費