0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( t( W" y% d) f  n) `$ F
Why bank will sell 借據給第三者???$ D) {) }# N# f& d( e* e% e5 P3 w
I was so confused.....

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% X& F7 Y1 {5 }% z% L7 w講到尾都係賺錢
/ S5 @& P' M4 B& Rso銀行可以不斷放款
$ O( q* y+ q, S4 u美國的房貸問題散佈到全世界# c6 x, u! ^! H

) t& F+ W; j) g7 z' a& Nmortgage loan ; n: I8 M! ?2 w: l8 K+ _
>conduit/ ?# m& q7 n. V. Q6 P
>RMBS(Residential Mortgage Backed Securities)
  ]. s9 P7 M, |+ q/ z>arranger; G3 n- [5 j) U4 W
>CDO(Collateralized Debt Obligation). Z# d/ U9 |0 v
最後去到投資者

Kev

i thought it is the reason of rate of return.( ~7 m- \/ T3 v9 n/ n! i; a* ^- r4 G
CDs could have different ratings, AAA -> F,- ?. T. e! ~) J
more risky ones would have higher premium (interest rate) as a compensation for an investment.& ^2 {* h) A- U9 D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% l  D; c$ g$ i) \9 |5 b4 U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ O+ ~* x4 n( CAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. h2 o6 X( Y' l$ _. v. V
similar to bonds, CDs trading in the secondary market have different value at different times,( |9 _( @1 e* `
normally the value is calculated by adding it's principle and interest. 4 H0 @5 m+ L/ o% W% p- w; U8 |
eg. the value of the mortgage+the interests to be recieved in the future.
) Z! \2 ]0 a4 d8 ~" R: @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.
$ ?( }& Y  e& R. F$ din stock market, it's the demand and supply pushing the price up/downwards.# N1 r; r+ h7 p/ @; I: a4 G" Y! p: u
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) \+ L+ i) [6 x7 O0 Y4 F- Y$ D0 ]7 L5 MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: B" G; b$ f1 z7 XThe 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.
+ J% t8 D  p! a% C) T  Ubut the value of their assets did really drop significantly.
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- l* R1 Q  R$ n7 E3 ]0 R$ q[ 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$ \* |: ~# B. Y# ]0 Q) D0 V' Y
Refer to last example,
" T9 \) x7 F# M6 |that means bank A have no money because we borrow 10 dollars from bank A
7 y% W5 t& \5 O7 M# rBecause bank A doesnt have enough cash on hand
) i( V! n& w& Q$ A8 j, Dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
" x7 N) g( D$ ]: P+ J6 Kso does it mean if E failed to pay D,
3 |9 k4 {! V) Hall 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, : g5 m& m0 l7 ~4 B' p
in this case it doesnt really matter how much money is created,
; ^) O& F# Y* _# x( v1 d% y  |/ B5 jit's the problem of the debt itself.* r- v9 I" {7 _* h9 P! I
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
+ X8 ?& F$ @0 R# x, M8 D5 c4 B" Y小弟一直都唔明...- @* e: h3 t$ S/ Q/ z2 j+ g. \- {

9 |& {2 B! m: a2 w5 W  O% x全世界都蝕錢，咁邊個賺緊錢呢?
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* @1 H# c7 y* I5 }! [* R無可能淨係有人蝕錢無人賺架嘛...
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8 H$ Q7 o  k2 t; {/ k9 Q1 H) U敬請各師兄解答
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Thanks

; j% o4 d% B1 P1 R3 C那些根本係 紙上財富  / g. [$ J: H( t$ B' |
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 graphic8 U+ I* ~, P7 a8 s  D7 n9 G6 }2 U
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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5 ?: M( u5 W9 s. s4 u
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 |, M5 [4 J& ~; r7 W8 y$ q# P6 s
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
* V1 y* h/ E0 e6 f# a" U個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' w0 h3 T) s. G1 o; v: C# x" @
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' e; K; d2 g3 f: U( T' z' ^
計番回報率就已經係50%,所以可以好好賺9 N/ r: s8 X2 ], }% g# [+ ?
前提係銀行之間要互相信任先可以咁樣借法$ V: o: \2 t# f0 `, F
同埋個市場既前境要係好先得
" `% E( y; z- V$ j% g& Q' n但當經濟一差,公司估值趺了,物價不升反趺( q+ l4 _( i* n  }) ~7 _6 Q1 N
例如剛才說10蚊的, 趺到得番9蚊, 7 `+ e5 k( B" ?8 f1 R7 V% H" P% f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 [7 R4 ^2 W5 \0 z: s4 E! `$ ^0 i
所以你就會覺得D錢好似蒸發哂咁
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% x% }3 k. _8 Q0 D你都可以當標野咁諗, 個樣野多人可以狂升值, ' N# R' c# z4 e/ [' Z% x
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 |2 v  X3 y. z- V+ Z, \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 c9 \1 I" C# _1 b! D
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* \+ J/ Q& T7 F  q. t
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
( r1 e* y, T  B% R$ v唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; U; e5 q" {3 A5 T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 i& v/ ]" p9 t% R$ n, e! t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
. Q6 O5 }8 M6 `2 E1 ?( Z! w咁你話d錢蒸發左去邊? ...

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) d) o9 [9 v! c正係咁樣
8 S+ u! X' H( |2 ?. Y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
: @& z8 ^6 k: ]5 ^分分鐘佢地唔使還錢9 U5 J( Z+ t( S$ f% o

: f: f$ @' U; _+ y3 V/ `3 _2 \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,
8 H% B0 Z0 |- o' k  k連國家都係問人借, 不停發債券, 印鈔票
6 [/ N8 W5 V$ e3 G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! _8 V( S/ k- Q5 Y& ?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 W2 x$ Q1 h& E" m7 S" ~, n
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; F1 E. ~$ ^8 B# B其實係...
& t; d% Z' y) m! p( F因為以前未生產, 先消費; t7 L! l/ G+ ?# _/ j0 U
而家就要多生產, 少消費