0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 Y  T5 Q2 x4 {& _# x
Why bank will sell 借據給第三者???5 W6 [: Y% c& k: V( k6 W
I was so confused.....

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講到尾都係賺錢
- q# J0 g& O( h" j7 x- Gso銀行可以不斷放款
& F# c6 T% H3 Z% {1 d4 [+ j8 q美國的房貸問題散佈到全世界$ F) X! u* ]4 i2 I. X) V; N+ D
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mortgage loan
3 @9 ?$ o7 J( Q1 V6 e>conduit
5 s8 X3 ?6 y0 @; H>RMBS(Residential Mortgage Backed Securities)
$ z& ^2 o2 }( D! j  g>arranger0 H: e0 H- t+ t  h
>CDO(Collateralized Debt Obligation)0 C+ }& `" J: k3 \* h' H5 E( p
最後去到投資者

Kev

i thought it is the reason of rate of return.. ]( P4 m1 \9 N7 ^# x
CDs could have different ratings, AAA -> F,
* A/ m, n7 o0 B9 O) Nmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 H+ G6 A2 X/ Z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ g3 G; Z5 D8 _2 X: _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 Y% S' b! J5 O- M+ W$ p- \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., G# w& q. y8 c9 y% d* b$ \+ D
similar to bonds, CDs trading in the secondary market have different value at different times,
$ l' H% M/ [5 g. I5 F+ F- v/ m( Bnormally the value is calculated by adding it's principle and interest.
% Y9 U$ H4 N5 oeg. the value of the mortgage+the interests to be recieved in the future.
4 p" b- _* z$ V& g1 |4 Jbanks 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.) ]1 {8 U% W# ]! e& e2 m  d) I
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im not quite sure if the multiplier effect does really matter in this case.# I+ N. w* s5 ^" I% w; I1 e
in stock market, it's the demand and supply pushing the price up/downwards.- s; f6 ?6 R/ @$ K1 U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: Z8 u. @- A! I  ^( QA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) b: W" E9 Q# b
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. ( k' ^: q3 B+ w. D$ h
but the value of their assets did really drop significantly.) C0 ], |- V( S% B" _3 w

* G; ?; z/ U: U' H# q) A0 V[ 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* S  z: w8 r; ~; J  t5 o! @$ V
Refer to last example,, G: Y- m2 O6 i/ J
that means bank A have no money because we borrow 10 dollars from bank A
; ~$ s. o& h: y: yBecause bank A doesnt have enough cash on hand
9 m5 ~! k1 M( ~1 Qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E& `+ N" }) F, n( l
so does it mean if E failed to pay D,
! F. l/ R# }  [# B, B% x/ hall the B,C,D,E have to go bankrupt?
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& P6 }& N7 X+ f; _- n0 X2 m" t8 @: `the multiplier just tell how much money created in a whole economy,
1 w, w( P* X% f7 N$ |7 `- `in this case it doesnt really matter how much money is created, / b/ j+ u9 J% W' x; ^$ s' J  e
it's the problem of the debt itself.# [. i4 ^; M; u5 |9 A5 d
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/ I( w0 P& g7 U! u) d
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?0 H: j, O, a6 d/ j1 D1 `
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無可能淨係有人蝕錢無人賺架嘛...& C% M* f  b/ c1 ^5 U

  t5 I. Y7 s6 ?/ {& H敬請各師兄解答$ M2 K8 ?1 K* y0 ~- Z# d( d

# L0 Q. [8 F( F6 e! XThanks

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那些根本係 紙上財富  " J3 X/ i: }1 j9 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  k' b: L/ \5 L" }# {

; o5 H2 r( A5 V) u, r# W. ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產! K/ [1 g( g& S; c6 c) X
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) z4 r6 C9 N% Y( |; d8 a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+ k: s5 _6 v% x
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 B! E# a+ D; X' e# B) J0 c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ i& J/ q$ o7 p! y" n+ R2 j計番回報率就已經係50%,所以可以好好賺
% J4 f. e1 l* W9 ^9 ~/ ]前提係銀行之間要互相信任先可以咁樣借法) y  l9 p! g. S6 U- L
同埋個市場既前境要係好先得
! \9 }1 u3 a7 k$ H但當經濟一差,公司估值趺了,物價不升反趺
, ^4 v  F- j3 X$ u1 w6 \$ G例如剛才說10蚊的, 趺到得番9蚊, - T2 j; b' S9 V* X; g6 x, m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 E+ W: o; e. A* `- ^所以你就會覺得D錢好似蒸發哂咁$ _2 a, d2 d& p, ^1 A1 H1 g% }
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你都可以當標野咁諗, 個樣野多人可以狂升值,
* l6 A$ x" b/ u$ ~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, % v$ h( a1 {0 j! \% `6 x8 [. m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 ]# J; ^9 c7 _' C
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
5 k$ [+ v& u" W' d6 m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# Q3 c( q! ?  j, k+ b! T6 f) @! i
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - P( I$ p  S" A+ g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* g  i8 v6 ?+ e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- R0 ?. S" _/ a
咁你話d錢蒸發左去邊? ...

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正係咁樣% }5 p5 G' \0 l
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; c- Y8 o7 j# U$ ^% v0 w
分分鐘佢地唔使還錢" B* A, _) e2 @- l

9 F! j1 G, n2 r( c2 W% q8 z9 R% a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," N4 c( r! u5 I0 Z5 Y* p
連國家都係問人借, 不停發債券, 印鈔票
' c. v- {/ p" Q2 @7 t* p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 a4 r& @8 x# O$ X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
4 [3 [+ x- y0 Y4 O" V咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 z/ d9 m4 j0 \4 `: D6 V& W* o2 ]
因為以前未生產, 先消費
. v& k$ K, l4 a6 E7 ^; a0 E而家就要多生產, 少消費