0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( P) x* _% e; z' i( d1 l, G
Why bank will sell 借據給第三者???
, {8 S' V  Y. cI was so confused.....

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: y- O7 ]  a7 R( N4 k講到尾都係賺錢
6 \4 X3 C, a. P, Z7 u5 mso銀行可以不斷放款
2 h" D; v. ]+ X8 J% T3 R美國的房貸問題散佈到全世界
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mortgage loan
2 }' b+ f4 a0 W, a- P>conduit7 _5 P, R0 ?4 n6 Q& a. M
>RMBS(Residential Mortgage Backed Securities)# S' t, X( |$ d8 k. q
>arranger
  g& [* E; q( `1 g>CDO(Collateralized Debt Obligation)7 L* R1 [4 z/ \$ N$ @# ?
最後去到投資者

Kev

i thought it is the reason of rate of return.
$ M7 I$ R) C: {+ t4 y$ x# b$ Z* ~CDs could have different ratings, AAA -> F,
0 P% x. V: x; |% C. Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
" |+ k1 Y- R; M5 R; ?4 {" [main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 T1 H, u/ @, O7 d$ \
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 e$ P0 _; M$ O2 H7 U
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ g7 c0 U4 _3 M/ ?similar to bonds, CDs trading in the secondary market have different value at different times,
: a- A$ Z% Q) G7 F8 o/ v8 `normally the value is calculated by adding it's principle and interest.
- M3 ~' x% H8 Y5 A& N0 Veg. the value of the mortgage+the interests to be recieved in the future. : h, u. Q& c* r+ V7 v, _4 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.
: }5 O* V) O! A  lin stock market, it's the demand and supply pushing the price up/downwards.
% Y/ w* h6 O5 S9 uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; @" F: Y& r( h7 M: O8 H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 \+ U: e( u9 H$ U& iThe 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. / {8 }$ {1 C: U! K  B
but the value of their assets did really drop significantly.
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9 l& }- {5 I0 C& C  O) s8 E[ 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" K" |+ L  b5 g* u8 I
Refer to last example,/ |) x+ ~( c! _+ T3 t7 F5 H# K
that means bank A have no money because we borrow 10 dollars from bank A % ^' A' o& x/ U! q( k
Because bank A doesnt have enough cash on hand $ M3 N$ ~" ~. C1 _) Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 |* p7 q, Z3 A! K. n" {9 o
A->B->C->D->E
; H) d8 m9 y* U! Z& Jso does it mean if E failed to pay D, ; a" s/ t+ R7 y* R. g) g* @2 v
all the B,C,D,E have to go bankrupt?
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5 r: G  Z. o; G- t3 r( i# T3 x( T4 n- T$ @8 {
the multiplier just tell how much money created in a whole economy,
2 |1 J3 z8 |3 c$ ?1 ~, o: nin this case it doesnt really matter how much money is created,
4 P2 v; F# M8 Mit's the problem of the debt itself.
& F: e4 o2 `5 D8 r9 uthe 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
1 `+ {. w0 ]3 |& K小弟一直都唔明...
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2 Y9 r$ s) E2 p全世界都蝕錢，咁邊個賺緊錢呢?: _8 _7 O2 Y2 y2 Q" K

) P% w, n! M# T" C' }& f8 E, q4 \無可能淨係有人蝕錢無人賺架嘛...2 N# p# U1 T+ Q/ }

2 I0 B( A3 ]: w  l8 ]% g0 V2 T敬請各師兄解答  L4 u: b9 o# `* H2 k

# R: g+ r2 m/ ?Thanks

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那些根本係 紙上財富  2 O; \$ k7 \+ Z! @# O
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: o& h0 p6 h! |+ d$ O5 y) U% n

0 x) |" Q# U. W% x! U( `7 Qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
0 p3 a  Q3 W% b/ d/ I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% q* M/ i2 W/ i, B3 o) |
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
+ X) Y( b+ {( p, i$ w個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( R! J2 E) w4 r/ r7 L; C
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: ^3 U/ f& w: B$ k
計番回報率就已經係50%,所以可以好好賺
+ A% a6 w0 H5 F, }$ f前提係銀行之間要互相信任先可以咁樣借法" J/ P7 T/ i9 e
同埋個市場既前境要係好先得, q7 f; U4 ~" T" Z
但當經濟一差,公司估值趺了,物價不升反趺
$ M; w# d+ K0 X6 p' m例如剛才說10蚊的, 趺到得番9蚊,
6 }! Z# t4 L" t! ]咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 f; f5 z2 r" s% o: z" s4 }所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 3 }# {: }2 c& @
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,
3 Q  N+ Q8 r& N1 ?8 d- O3 F' O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! S+ u) O3 ], u0 f4 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
& r7 w9 Y/ H) o" x- H; ?% h6 d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
9 c& d4 `, x% e) f) N0 ~唔係d錢蒸發, 而係比美國佬洗晒未來錢,
* \0 e4 z  V2 Y5 a4 @% x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; d9 Y4 _. P* K# X
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
4 C0 Z- `' ^( \5 X+ E' G* _2 w; r咁你話d錢蒸發左去邊? ...

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6 G% z$ Y. y9 p! g正係咁樣+ L% C' z6 X) h% T2 f6 c  F8 G
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
! F0 K# C. U, i3 l  h" {( e分分鐘佢地唔使還錢! d4 M; I; l( c% C( j1 X: {( F0 D  B
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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,) b5 C2 A7 g2 Z+ P. k% \
連國家都係問人借, 不停發債券, 印鈔票
5 v! a: c3 h9 l  k7 _/ @一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 T5 k  _" M1 e' k3 l) D2 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
, @: \4 O5 b* C7 F) Z咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ U4 y2 P+ r, X0 V  F" \$ }其實係..." t( W. j& A4 V+ n1 r
因為以前未生產, 先消費$ j, X; _. K, ?% I* L  Q% l$ C. H. _
而家就要多生產, 少消費