0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- w" U; e; X- T: T' X7 u
Why bank will sell 借據給第三者???5 y/ p, Y1 p  b/ G
I was so confused.....

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講到尾都係賺錢' n. i( |% h6 ]" ^8 \7 i3 R
so銀行可以不斷放款
+ z  Y8 Z5 D$ ~( D$ _6 x3 i0 Y美國的房貸問題散佈到全世界, y! p& N! D1 E9 \" I. q

; R; k6 w. Y  g3 g0 @# Pmortgage loan + u2 Q: ?) Z% `  N0 `6 L3 z
>conduit$ |0 G5 `: n0 m. I# D% _- F
>RMBS(Residential Mortgage Backed Securities)
5 ?/ _3 X: T: B& T2 T8 T+ ?+ l: @>arranger0 g; V, ^  N0 X
>CDO(Collateralized Debt Obligation)& w7 a+ u7 n: t7 V2 A2 ^
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 T1 T2 h6 \- s% h1 F% ^; W+ g+ |CDs could have different ratings, AAA -> F,& F: r0 u$ h# m! k  V+ v
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 {. }+ w) H  t6 B
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% Q$ p1 n! }( V3 w" L  ~( E% O; a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# G  b: f/ y5 U  ]9 _. \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 K! W9 G- e/ g
similar to bonds, CDs trading in the secondary market have different value at different times,: ^) J# E8 w$ ~
normally the value is calculated by adding it's principle and interest.
# v" q; q0 e& ?" }/ ^eg. the value of the mortgage+the interests to be recieved in the future. . E) o/ v; Z; \/ O  }$ u' V# I
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.3 P4 T3 \# K/ q- m& g

4 M, Y- r& E' v! f! ^im not quite sure if the multiplier effect does really matter in this case.: U' `3 n5 T+ ~4 @$ @
in stock market, it's the demand and supply pushing the price up/downwards.7 F" |8 @" n; Y1 O5 t) f& c4 c# J% E
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," {+ t& V, ]( q8 I% {% g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 K: ?+ y6 @) N5 r! B( e
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.
6 J3 P' @- D# t. r9 [# ?4 ]but the value of their assets did really drop significantly.8 v$ }2 x$ L, s  G+ X. V

+ m0 L9 Z- H6 a8 L[ 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
7 v  O4 c6 Z5 y# {! IRefer to last example,
9 F7 k- D2 q) S. othat means bank A have no money because we borrow 10 dollars from bank A
+ V5 |) {5 H9 L( o4 ^5 X5 vBecause bank A doesnt have enough cash on hand
7 e7 C, P9 X+ h8 Rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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# K( W. L& V' K9 x; G6 PA->B->C->D->E  ]3 L& `+ U& c: c4 N% h
so does it mean if E failed to pay D,
' S9 ]$ M7 ]) \8 M. Nall the B,C,D,E have to go bankrupt?
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0 ~% @7 k- j( m% C4 r2 Kthe multiplier just tell how much money created in a whole economy,
0 b" D/ [. E9 I3 f" H1 S$ min this case it doesnt really matter how much money is created,
# g+ }* w6 S& Hit's the problem of the debt itself.3 l) H& t/ }0 p$ B# `0 a% u
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; C8 f2 y+ s3 s% q+ ]5 C( h4 x
小弟一直都唔明...
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' z! @: E# _- H# s, h' C, Y全世界都蝕錢，咁邊個賺緊錢呢?
3 x, @+ i# E+ w% @
6 Z: {5 Z3 k; q7 R$ ]$ \; k1 Y無可能淨係有人蝕錢無人賺架嘛...  R8 X1 r4 U4 @& n% A. A
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敬請各師兄解答6 @  s2 F. _+ m) u$ V. w

, l1 N) }) y- q/ K1 pThanks

8 e& Q$ e- n& U那些根本係 紙上財富  9 P, e: @$ s# ?7 B8 |( 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 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3 B! ]2 V: _& d; b/ B  K' O
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: l9 x, P0 ]2 {; m/ y  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
! L; S9 b6 u% T  G( _8 Y個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" c* u0 ~7 K! \' ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) x$ ^4 i, C' T. Y& n4 v9 A/ N計番回報率就已經係50%,所以可以好好賺
0 d8 J$ b' F; u$ f! F前提係銀行之間要互相信任先可以咁樣借法
' Z' R! L) [5 O4 K' h1 M同埋個市場既前境要係好先得
+ m' r2 S% M0 K但當經濟一差,公司估值趺了,物價不升反趺3 V- T1 J$ N3 C, n3 G  D
例如剛才說10蚊的, 趺到得番9蚊, 6 h; P* B  }. w5 Z+ g0 m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( V8 R, b! t6 A9 E
所以你就會覺得D錢好似蒸發哂咁
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% {- b, N7 s- Y& f你都可以當標野咁諗, 個樣野多人可以狂升值,
% J# w1 O  H4 k8 E, {1 N4 J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,
7 T3 _6 W7 b' Q+ b' I' f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* S4 v* D8 x* @0 R  _; H$ 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% B2 ]4 Z9 g6 X  y' @
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$ m$ e$ {7 t# S7 ]& r5 Z
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( _' y- c0 q8 B; |: i8 k. x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 t) a2 \" K* ]; l
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
2 `, F7 M1 e; D$ D( E咁你話d錢蒸發左去邊? ...

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正係咁樣% w8 F+ L  G6 D8 t; v
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
" [+ g: A2 W: `! ^9 u: G分分鐘佢地唔使還錢
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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,
( _& q: C% ~6 K9 U* {& Y! R連國家都係問人借, 不停發債券, 印鈔票
' G( d+ X/ Z6 }) D+ E, Q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 I# Q% A0 v, e: w9 n# I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
& y8 S+ O$ P- t6 m& y* |( b; z: m咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! x: X: {. J$ x- i# h& M因為以前未生產, 先消費$ O3 V0 H9 @/ f7 {' L
而家就要多生產, 少消費