0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 h6 ~. c$ m9 k! i6 NWhy bank will sell 借據給第三者???* J) z8 g0 O/ N2 g1 u4 y2 y/ j
I was so confused.....

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4 b. V. u; U" p( |/ D& S4 |* G講到尾都係賺錢
% V) W: l% O0 ]. E3 Sso銀行可以不斷放款
7 Y/ R$ w2 ?" L5 g' i美國的房貸問題散佈到全世界1 V* V- g: q0 M% Y

" S& ^' M% U, L/ d' xmortgage loan
9 f6 @. v2 Z8 ^% s: f) g8 e>conduit  p( b# H8 ~# w
>RMBS(Residential Mortgage Backed Securities)2 j/ h% S5 R& O
>arranger- A5 h! v& s8 Z* A, t) n: H+ N- z
>CDO(Collateralized Debt Obligation)5 g; i  b6 B. \0 i
最後去到投資者

Kev

i thought it is the reason of rate of return.# G; G$ v: S! l4 ?; V
CDs could have different ratings, AAA -> F,0 D, R# _$ e7 a' D# I
more risky ones would have higher premium (interest rate) as a compensation for an investment.
7 r# A( P5 N* L, \6 dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 s. f, Y+ n$ ^$ D0 b0 L" nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* g+ a' n. Y; G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% m6 S; a4 q# f$ a8 U. Wsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 b# z, ^* x6 R/ Y, B1 \normally the value is calculated by adding it's principle and interest.
9 l% s9 h* O- I5 @% u0 S/ \eg. the value of the mortgage+the interests to be recieved in the future. 0 C  r8 f/ E2 q' A) j
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.+ i% V8 o0 W5 D: s. s
in stock market, it's the demand and supply pushing the price up/downwards.+ g9 s9 i/ W4 F$ L1 F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 P( r8 d5 N* A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ E: x9 X2 B5 YThe 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. 3 b- B. |8 u5 b" |* Q& M7 c4 G
but the value of their assets did really drop significantly.2 P% ^; I$ i' Z. G* Z( ^

6 i! R* n) w8 G6 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
8 |7 s1 p2 C* ~& B# e$ v% ~7 y4 _. eRefer to last example,) N4 _  Z4 U6 G$ |3 e+ Z; j6 w
that means bank A have no money because we borrow 10 dollars from bank A 0 e. Z+ J6 O- Z+ q+ E
Because bank A doesnt have enough cash on hand " s+ v/ S' c- C: P. s
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E9 j* i4 ^2 p* h* w+ f
so does it mean if E failed to pay D, ) F' W/ a& n4 X1 P* T
all the B,C,D,E have to go bankrupt?
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3 U6 T( o2 y9 h5 othe multiplier just tell how much money created in a whole economy, ! u( H4 B  ^- V
in this case it doesnt really matter how much money is created,
: S; N  W! B6 [  y* H4 Fit's the problem of the debt itself.
4 r; }" R/ K7 P- X0 m' pthe 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
; S* }, r4 h; N3 o3 Y0 P小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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6 {$ z. x6 V* J" J: r. G  ]7 Z敬請各師兄解答
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- Z* S1 z2 P% ]: Q* rThanks

( P  I% \6 e9 ?0 C* x* ~8 ^那些根本係 紙上財富  3 ]4 f3 I/ [2 E! L2 E1 v
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9 I9 p6 J) `4 A  v: x& K( k
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, {- w4 E& j( g; Y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% j7 j+ u! C* \
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 P& u. I, V4 N2 G" }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 ~+ _/ y% B7 s; o計番回報率就已經係50%,所以可以好好賺( F9 D- r1 ^' N0 f
前提係銀行之間要互相信任先可以咁樣借法
; S0 Z, Y7 A: r  M) X6 U同埋個市場既前境要係好先得$ R; p6 _7 u. E
但當經濟一差,公司估值趺了,物價不升反趺
# h9 ?* u( x" d5 U8 A( _例如剛才說10蚊的, 趺到得番9蚊,   |3 e, @- D7 _6 }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 ], x, M0 p3 E) K' a4 s) }* D" B所以你就會覺得D錢好似蒸發哂咁4 p1 l% l, Y* p" t6 u# c7 `4 r
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你都可以當標野咁諗, 個樣野多人可以狂升值,
: ?: |: m  _/ e+ I* j( G4 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,
" R8 t0 Z( l& i: }! A5 P0 a+ r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 b0 F  q* @. E3 D! w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
7 h% l& e& X0 U6 c3 u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- w! ^9 U3 x& w1 p2 [4 O
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( d1 l" u" v0 C+ ^6 \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " \5 ]1 ^( p9 g4 }" v8 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
; _! ]9 H+ F4 M# Q8 f# a% \& t咁你話d錢蒸發左去邊? ...

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正係咁樣
3 `0 \/ v# p) F2 M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
) {9 X8 z! C8 c) _: \2 d+ m6 x分分鐘佢地唔使還錢
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: k2 _8 B- [; f0 p6 o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,
# M) E* d& [0 h2 Q. n連國家都係問人借, 不停發債券, 印鈔票
' ]+ n( v: C, \7 `" v一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 j% B$ o" [$ M! B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 {& ]% F0 s% T; R1 S6 Z8 S
咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ K. \6 M  v- T% i0 }- T1 i其實係...  j7 m; L1 _( {3 I# n0 i
因為以前未生產, 先消費: ?+ o0 o5 Q8 P3 b3 `& X, F
而家就要多生產, 少消費