0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ g  ^( h, p+ U9 z2 p
Why bank will sell 借據給第三者???
6 Y' L% }# z9 Y# s/ G  Q5 c9 JI was so confused.....

6 `2 E0 C3 a) s9 \9 B5 [  ^2 N7 t; i
3 ~1 P7 M7 \/ {; J$ H+ }( C# G
講到尾都係賺錢
9 e/ K+ {: S' G; G5 Q' N' `so銀行可以不斷放款
5 \; w9 I. b2 z+ w美國的房貸問題散佈到全世界7 v) @  S/ m. h+ T/ ^

  c8 T; P; @/ l' f+ cmortgage loan 7 _( h* W6 {  @* l6 n% W- `
>conduit( ^' U3 `( f/ L
>RMBS(Residential Mortgage Backed Securities)9 h9 r; \* n7 X. V
>arranger
. ^" g: A3 p. K2 A* S>CDO(Collateralized Debt Obligation)
& d4 x* ~0 \1 q$ j. Z- S最後去到投資者

Kev

i thought it is the reason of rate of return." R9 ], v+ c8 b! N' B3 g6 R
CDs could have different ratings, AAA -> F,
) {/ y6 u4 \( P7 _more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 n, J. ~1 S( r* O2 ?8 u% ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 J& ]- d2 I) ?. vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ M1 I: i# z0 E3 ?0 I) x5 KAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* W" F& o+ k" p$ [similar to bonds, CDs trading in the secondary market have different value at different times,
6 x# W8 K" L; B  inormally the value is calculated by adding it's principle and interest.
) c4 s3 F' J, s( g3 g! Feg. the value of the mortgage+the interests to be recieved in the future. * M% [! c2 B. M0 d) p& G+ x
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.( t, A% ]% S! `" U2 b
2 E( T4 z8 ^2 m5 E: h7 p. U
im not quite sure if the multiplier effect does really matter in this case./ l: m# p8 f& c0 o; i) Y
in stock market, it's the demand and supply pushing the price up/downwards.
0 `9 e( K  Q; [6 e' O, U* nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 u7 g3 G8 u; NA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# _/ V5 h0 l4 }4 s
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.
- g% e8 i# c- c* U) Kbut the value of their assets did really drop significantly.) E% d; p7 o$ e. D. l

5 Z; C* R- B6 [- s[ 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$ i# Y# \# e" t- ^9 R/ S! n
Refer to last example," _1 I, @# L6 u
that means bank A have no money because we borrow 10 dollars from bank A
( [1 k( p& S$ s7 v# DBecause bank A doesnt have enough cash on hand 9 _  V6 n# ?: d
therefore bank A need to be bankrrupt ??? Am I right ?? ...

5 h3 I6 p$ j; [" W# P
0 y, m' t- W- p# H# |$ F' D. c1 D

1 ]6 R3 ?4 c; y9 I+ RA->B->C->D->E) `. @  @( H9 z! b1 e$ I
so does it mean if E failed to pay D, 2 ?( f$ }/ W( f4 i. k$ I: J. j
all the B,C,D,E have to go bankrupt?$ K. ]3 ]: r% ]4 e

( v7 a  u$ z' ~$ }( m' I" p; H5 S
5 `  x2 l- T" e& U5 Jthe multiplier just tell how much money created in a whole economy,
6 o) j# E3 {5 B9 G3 y2 Kin this case it doesnt really matter how much money is created, # U* m3 j1 z1 \5 \0 c
it's the problem of the debt itself.% u5 b6 i4 ^* 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. ?* @" ^+ Q0 T" {
小弟一直都唔明...9 P  [# b: C8 g  D7 R: S) A& L0 _  i

; T- S% B# t% e/ ?全世界都蝕錢，咁邊個賺緊錢呢?
- o  X( m  c' Y% A0 V0 A* k8 V% W
無可能淨係有人蝕錢無人賺架嘛...
& D: H' Y( ^! P6 B0 i0 @9 Z) C8 v7 [7 g& a6 {
敬請各師兄解答
# z  {( P* J) r
) }, n; m5 J5 l& cThanks

- P8 Q+ g( W" z' V9 o: U那些根本係 紙上財富  - z" g/ W/ n  P" }% w
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! {0 J) B5 i- b0 _6 X+ r6 F" T

& z  D: p$ g% N) 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
" Q+ c7 n0 F, w' I- S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 x$ m3 g2 q* e7 l4 F
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$ p, y* ]2 a, {" i6 s
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% R' d0 a, p  T# q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# z. r; [6 p7 y9 s計番回報率就已經係50%,所以可以好好賺& Z' f6 p2 r: s/ P
前提係銀行之間要互相信任先可以咁樣借法
3 f4 h2 s/ N; J: R/ w2 ?同埋個市場既前境要係好先得
9 }. n% Z; k8 {  p" R; ?9 B8 n3 I但當經濟一差,公司估值趺了,物價不升反趺# y& S; J, A& b: y5 w- a
例如剛才說10蚊的, 趺到得番9蚊,
) ?$ X# n0 F, I1 ^" a咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ y( a2 b# u- q" N. H9 z/ X* s所以你就會覺得D錢好似蒸發哂咁
; V6 o9 h8 ^1 e1 A7 c4 H% a; e! X2 m. s' l+ M1 ]
你都可以當標野咁諗, 個樣野多人可以狂升值,
% R) |0 P3 U; b2 s/ O% U7 h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,
: c* i, F! \: K% t$ \7 A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 U8 L, R  ^. @5 N% O" 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+ b& r* C2 |) ~( g0 y: p
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.gif7 ^; _0 c: p5 w
唔係d錢蒸發, 而係比美國佬洗晒未來錢, : a# ?- x7 s2 C% c  L" `3 e' @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - H9 N0 @. q" q; r. K1 R! d) s4 \
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
) u9 |3 m& y& U6 {% p: a- v5 m  R咁你話d錢蒸發左去邊? ...

1 L4 X( U; p3 t( b8 P# ]! Z

( B. B( U! L0 f2 |正係咁樣
: M$ R2 T% G5 w9 ]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6 _" x7 [* F# d' p. H" ]) B; H
分分鐘佢地唔使還錢( n8 x9 O9 q3 A5 S& N) T0 j! j

+ n( X2 n5 n" d  G5 k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,7 }+ }) b( X- r/ F* T
連國家都係問人借, 不停發債券, 印鈔票
3 w' x* Q$ q* j2 o8 k0 y一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% |9 n% U  v. {- B! \3 ~, o
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! D, \, n, R: M' u6 |- y
咁而家"爆哂煲"算唔算先至係變番"正常"???

6 ~& l) {( m+ D' W( }$ Q2 ~( R& ?# `* A
其實係...8 h3 x( m2 X! v0 T3 z+ m
因為以前未生產, 先消費# S# Z% |% \% ]
而家就要多生產, 少消費