0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ D' I. Z- ~* |& N1 _7 {
Why bank will sell 借據給第三者???
& c4 Y" `9 c" _2 O" UI was so confused.....

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講到尾都係賺錢
$ i1 k7 {8 a- k4 _+ Q/ _, Wso銀行可以不斷放款5 b: f4 {- P. o% g
美國的房貸問題散佈到全世界
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. G* ?; ~+ V0 R/ cmortgage loan
; ^5 Y* L+ _- v4 g3 ^# _2 R# @' s>conduit9 _" |1 s& E1 q) \
>RMBS(Residential Mortgage Backed Securities)
9 d8 H8 L6 q% X5 N  b>arranger
# y  ]! m( }, u# l1 Z6 X# K0 C* z>CDO(Collateralized Debt Obligation)
0 v, s5 P# E$ L$ ~5 N) p最後去到投資者

Kev

i thought it is the reason of rate of return.
& r0 Q9 x! Q% i% _: Y1 G0 e7 `! cCDs could have different ratings, AAA -> F,! Y. n! L( B+ q& m$ p$ q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
6 k) E* v* @0 b6 U' W! pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," Q5 d) S) x$ j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 y) c4 U- Z$ K+ @8 X' k
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 Y  e9 Y' Q3 a5 N9 _5 {7 P0 y) B+ ssimilar to bonds, CDs trading in the secondary market have different value at different times,
" F! c. Q! O0 |( ?' W: ]; Knormally the value is calculated by adding it's principle and interest. ! x3 i+ ~- M$ _; Z+ a& H  n% w' g
eg. the value of the mortgage+the interests to be recieved in the future.
5 O" i# }/ q# _6 t2 o7 n% R6 y- sbanks 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.- M0 K5 c" v+ C' n# v; J0 O5 C! e
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im not quite sure if the multiplier effect does really matter in this case.
) v6 g( C( r$ i% y7 R' ]) Sin stock market, it's the demand and supply pushing the price up/downwards.
6 ~8 u+ b& w, a1 yFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 H7 H2 O3 r) c: I2 m" K% e: o/ hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., v( e8 m* v/ I7 A% \0 X& |. @
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. 9 _: A! l! \' P0 R8 Q; c
but the value of their assets did really drop significantly.5 r7 m6 w0 R: w+ e& B

, h! B1 q3 F/ h5 ?# 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) _# {' @, T3 j5 {
Refer to last example,
1 }0 x, R1 B5 C6 X- a' a/ othat means bank A have no money because we borrow 10 dollars from bank A
  v1 E8 k2 v; y& P8 u3 |1 ]% JBecause bank A doesnt have enough cash on hand * Z, n2 b- g! A# K0 y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 v4 s/ z: n$ ?; yA->B->C->D->E. S7 P! J: Y+ J6 Q1 Q& C+ f
so does it mean if E failed to pay D, 5 ?4 W/ R0 B% k4 g
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
  w/ R  ?: p, ^8 Y( ^in this case it doesnt really matter how much money is created, 6 I. x1 \4 i* p) Q5 {5 o
it's the problem of the debt itself.) E8 m4 [( x; x
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
- z$ R  }; v8 B3 v小弟一直都唔明...
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2 b/ c2 Q! n$ j( a4 F全世界都蝕錢，咁邊個賺緊錢呢?5 D; ]2 T! A8 N" _
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無可能淨係有人蝕錢無人賺架嘛...7 y$ b& g6 E) b& R

! @* t5 A3 F" Z/ [敬請各師兄解答( S: ]/ J8 _  W0 P

6 L4 Z/ e- g' L! MThanks

. [+ O$ O9 [0 ~! Y, _+ I那些根本係 紙上財富  ) X# W7 L, Y8 O, ]8 I1 G
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 graphic5 {  g/ W+ h# y5 ]
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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 l7 r5 y. \3 l5 s5 b# Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, ?$ P/ v: i! F* I) V) |( s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
0 X4 v" X; r8 e7 v8 L8 _9 {8 M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' }# d2 ?$ Q, Y9 i5 W1 ^- [7 H
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ d4 U3 X0 k2 E; t& @計番回報率就已經係50%,所以可以好好賺
0 I0 U. d: M' i9 V6 S! m前提係銀行之間要互相信任先可以咁樣借法) D+ u: s# n8 X
同埋個市場既前境要係好先得' e# z" |& y/ r- j& p
但當經濟一差,公司估值趺了,物價不升反趺
* Z% e! O# p" a. I1 @例如剛才說10蚊的, 趺到得番9蚊,
; P- V* ^9 P0 W8 J) J+ t) M1 g( p, m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 C0 ~. A3 i$ ^' t& ~0 S- w9 r0 ?
所以你就會覺得D錢好似蒸發哂咁
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* o8 S) _, [; R你都可以當標野咁諗, 個樣野多人可以狂升值, / O+ n2 N- Y7 K/ {. y$ 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,
& L1 g& v: W( O2 B1 w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, {% a8 K/ M/ n/ F4 X- v" i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% w9 p2 y: C# V3 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
! F3 u1 H9 y6 u. v. t唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 T  C# E4 P0 f! J, W% p) M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- A, f: ]9 F& b% i* `9 q5 @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: ~, G! \; W, ~( |2 F9 a& `1 M
咁你話d錢蒸發左去邊? ...

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正係咁樣
9 \7 v/ k: m% g' r) Z! d; ]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
/ y& _+ }$ I$ `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,7 L& ]2 b8 C0 x; y5 J
連國家都係問人借, 不停發債券, 印鈔票
& e  Q6 ]. b( [, `4 m一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 ?; A$ H% i3 y1 P( a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, H$ w) q5 @3 O8 j$ O8 O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 N9 T: d$ _% v) D; m  D0 N因為以前未生產, 先消費7 ?4 |* O& B- W" `5 y5 Q3 J& _
而家就要多生產, 少消費