0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 N- x; C. t. Z3 A0 ~6 K3 t6 L
Why bank will sell 借據給第三者???! l) i! Y2 m! E% k. n; o' X; x( c
I was so confused.....

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講到尾都係賺錢
( h& a1 _  p$ h" V+ [so銀行可以不斷放款
- ^+ Q, l( E# j- g: I美國的房貸問題散佈到全世界
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) H& F2 G5 d  X. kmortgage loan 1 v2 j* ?* u1 s: K! o/ s( f3 ?
>conduit
7 I) V7 p" r. F; h>RMBS(Residential Mortgage Backed Securities)
5 ?. B8 b% H" Z7 A  U1 Q>arranger
' v: U) v: J- _! O  q5 \+ O6 X>CDO(Collateralized Debt Obligation)
4 C& p8 ?, F. p" @3 N最後去到投資者

Kev

i thought it is the reason of rate of return.# Y% D* k/ b/ W5 u& T6 a- I
CDs could have different ratings, AAA -> F,7 i, i2 u5 T8 n7 x5 W2 a
more risky ones would have higher premium (interest rate) as a compensation for an investment.) p: h& P8 w! ~: S5 j; ], l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 {8 Z/ N- z# j! k4 A1 tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% T! B, c! `9 u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 [; u* |' c+ t! w( csimilar to bonds, CDs trading in the secondary market have different value at different times,
2 O4 }/ W0 Q6 B; C# snormally the value is calculated by adding it's principle and interest. . g  y: h% ?8 X3 s
eg. the value of the mortgage+the interests to be recieved in the future.
  O0 D6 a! B# m: J" {. v) g4 Dbanks 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.; y) K- E7 `& t2 e3 G+ @$ c
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im not quite sure if the multiplier effect does really matter in this case.
' l, v; w( l! j0 I, }. h+ [- Hin stock market, it's the demand and supply pushing the price up/downwards.  |8 F: B! G8 ?. ]3 Z9 V/ V
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 l$ {) C) c: ~) _$ RA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ r: u5 k$ M/ lThe 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.
# }1 Z( z) p$ c4 _6 y% ebut the value of their assets did really drop significantly.; D- r+ c0 n8 ~/ A
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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
+ n, d3 a  N3 P5 Z: \Refer to last example,7 p% d6 a! |  Q. E* B2 Z$ ^" V7 @
that means bank A have no money because we borrow 10 dollars from bank A
4 q- x  r, c7 ]% dBecause bank A doesnt have enough cash on hand
8 i9 G5 z/ S$ Q/ Q* {' F: F- {therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; F5 U% z8 n3 A$ v: p4 o7 a
so does it mean if E failed to pay D, # G2 ~# d( ~! a8 m6 ]) J8 V
all the B,C,D,E have to go bankrupt?
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% E6 p! G  {8 \) ~. ~1 g( m1 @the multiplier just tell how much money created in a whole economy,
" \0 Z8 R6 L. o: E2 n( @- ?$ Sin this case it doesnt really matter how much money is created, ( k, ^- u: x  v3 z- ^) `
it's the problem of the debt itself.3 |4 `7 Y7 @; \
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* G2 ]( K. R. a" n* j# g& o/ L3 d
小弟一直都唔明...
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" c( O( \3 H" _) Q6 r6 k% u4 r全世界都蝕錢，咁邊個賺緊錢呢?3 }# a! i# f2 k3 w' M
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無可能淨係有人蝕錢無人賺架嘛...2 t" U1 \9 \4 w4 M8 O

1 j) e8 Q6 z7 E% t  L4 T2 p敬請各師兄解答
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Thanks

0 x% U- E& z& }( _. `- r# \- n那些根本係 紙上財富  . u. |" ~. w  m
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
2 T. ]' O, K6 C; O& V9 ]當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 d1 O0 |5 n" [7 `/ l
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
1 H# {5 z/ f4 |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) v# b! v% c" D2 E" y& j) t+ y( V
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 V& r, R9 c- q計番回報率就已經係50%,所以可以好好賺
' i, B: f3 b' }( u前提係銀行之間要互相信任先可以咁樣借法
" W  e& E9 Q3 K# ?% V同埋個市場既前境要係好先得
1 D6 E2 N- g# v$ W" z6 \; W- Y但當經濟一差,公司估值趺了,物價不升反趺
( o$ b: F& A4 E2 ^3 c例如剛才說10蚊的, 趺到得番9蚊, ) I# N& s. C& W* V, [! m- [
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! D' X( l) [0 a$ m7 b) v
所以你就會覺得D錢好似蒸發哂咁, ~* M/ [( t/ r
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你都可以當標野咁諗, 個樣野多人可以狂升值, : c# S4 H. d, \9 q0 ^
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, : |; a# G8 L3 P8 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 T, M  I  p! A$ d5 Y1 j! D5 d( ^( p
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
/ m) D/ |$ c; S5 g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.gif3 S2 d: s* R% X4 l8 G3 r: G* d" D
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 q: V6 c( T: x5 h2 G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 Q! Z0 j% D8 W) k/ E9 |: 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, I4 h" k0 `$ W
咁你話d錢蒸發左去邊? ...

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正係咁樣
" w  g0 I# F$ c8 t2 ~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' y8 `4 A( U8 t/ G+ \7 V
分分鐘佢地唔使還錢
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; F2 ?* j! u+ ?2 V/ ^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,7 r9 O4 |$ N$ s$ L0 P2 e; a, q* t3 y
連國家都係問人借, 不停發債券, 印鈔票2 G/ S4 j" P2 [4 R: W# p& y; q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& x5 a6 S* y* q" z/ T6 m* b" r! 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.gif
5 r3 K' ]( X+ ^' Q/ o) h$ F4 h咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 Z3 G, c( m5 }$ H& i& ^: S其實係...  `) C6 ?; s7 W9 g! m5 A3 L$ R
因為以前未生產, 先消費
8 U( A, Q) n3 K! k. t( g) S. G& n1 t而家就要多生產, 少消費