0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 g5 P! y7 Y5 |, o
Why bank will sell 借據給第三者???
, j: f. ~" T* Z7 J! cI was so confused.....

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* J3 p& q" @9 |9 w, e, r7 u& J講到尾都係賺錢
; L$ y2 M7 K6 I( bso銀行可以不斷放款  T+ i: H$ l1 i% M0 V' o
美國的房貸問題散佈到全世界
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mortgage loan
0 m% b& M1 _4 W5 c3 H$ h>conduit
" v- H$ E/ E% O2 `9 \: t$ |  N>RMBS(Residential Mortgage Backed Securities), t4 l. B3 U, j" i7 _+ G# i
>arranger
  _% i( _3 V! j4 Y, [>CDO(Collateralized Debt Obligation)
8 Y! K* {- u& ~. S6 _$ Y最後去到投資者

Kev

i thought it is the reason of rate of return.4 p0 e6 O; d# i  M1 f
CDs could have different ratings, AAA -> F,7 b# [7 m7 ~( m# ^! {" J" R( u/ v3 z, F
more risky ones would have higher premium (interest rate) as a compensation for an investment.! S; I2 O6 V! b% f5 p% i; \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. ?# s7 E, p7 E0 h) c- y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* h! I  ]: b2 C1 J: x! ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* P  j( D% v0 X! O4 z5 B0 Jsimilar to bonds, CDs trading in the secondary market have different value at different times,
# d: H6 d, l9 t- Y( P' O" jnormally the value is calculated by adding it's principle and interest.
8 [: y4 @8 `, I: ceg. the value of the mortgage+the interests to be recieved in the future. 0 t& b6 s' r/ E3 f; C
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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$ A7 G, Q0 T. s- bim not quite sure if the multiplier effect does really matter in this case./ {% y1 M! c# w1 p0 y* r/ M2 W
in stock market, it's the demand and supply pushing the price up/downwards.7 [5 \, Q, g: J" \! X
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, V0 |- C! `  b, n3 fA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 b$ A9 C9 G% g- K4 O. nThe 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. % w" S$ r1 Z/ o, j
but the value of their assets did really drop significantly.
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. ]9 ~* a$ k0 \# |4 Z[ 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
$ C3 {: j. {9 `9 ^2 K- K) QRefer to last example,& S. _8 ?, }2 @( C$ h$ e5 m1 u5 T" ^
that means bank A have no money because we borrow 10 dollars from bank A 7 l7 V  Z4 S: ^) K
Because bank A doesnt have enough cash on hand
0 w4 ?" x  S6 x  k) ]therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E6 \0 g+ D8 V. R8 T
so does it mean if E failed to pay D,
: K" k! V5 }4 y% qall the B,C,D,E have to go bankrupt?. l1 i+ x6 L/ e) i

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the multiplier just tell how much money created in a whole economy, - x9 H( z8 t1 U6 }* Z9 L
in this case it doesnt really matter how much money is created,
# p& `8 ^0 O& |) ^, {$ Wit's the problem of the debt itself.
1 p6 {; g/ r0 t* A1 tthe 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' {8 o$ m; S1 C
小弟一直都唔明...
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8 j6 R+ ?" L/ z: h3 _. A" {% j全世界都蝕錢，咁邊個賺緊錢呢?6 p. i5 r5 R- {, e0 T

7 ]: O) l' D7 g6 e無可能淨係有人蝕錢無人賺架嘛...! B- v8 k3 v9 S3 C, J0 x
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敬請各師兄解答5 Z$ D: I- G& j* N' R" T3 C7 o! I
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Thanks

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那些根本係 紙上財富  
3 X0 k) P* K: O: l" Y6 F9 f* r/ C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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2 D2 ^3 n( P+ _9 c% `9 I  |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 m) x7 U% O* x: D! S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& M/ P% @7 V1 j
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
( J6 p! M0 q* U( X6 y個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% o0 n2 G8 ?6 _' R
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 R& `- d: F" y* U" T- u
計番回報率就已經係50%,所以可以好好賺/ c1 N6 H/ Y# l; l
前提係銀行之間要互相信任先可以咁樣借法9 c" @" J( S" P- u
同埋個市場既前境要係好先得
- M. O& k1 V/ N7 g/ r3 k* ~* Q1 e但當經濟一差,公司估值趺了,物價不升反趺
. Q3 p9 R# V' ~! L; ^7 Q8 ?例如剛才說10蚊的, 趺到得番9蚊,
% b/ O3 H3 B1 b咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) W; J' s* H1 m$ ~' E所以你就會覺得D錢好似蒸發哂咁) M$ z& E# J4 k

5 v/ L& L, O8 L: O  ?你都可以當標野咁諗, 個樣野多人可以狂升值,
- b* i8 l; m( R$ \0 b" 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, : w5 A( N) z9 M% x. S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 w) v5 b4 s. g, Q  F
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
8 c+ m" S3 j7 Q% P* i" ^/ 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.gif
5 w9 }' v8 H8 q1 p" ]唔係d錢蒸發, 而係比美國佬洗晒未來錢, . J8 d" P( v  a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ S1 p$ E5 X2 X6 Q
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
5 B* Y* I0 Y' I9 u3 g2 A8 S# Y. t  y咁你話d錢蒸發左去邊? ...

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正係咁樣
7 p0 d/ P6 q$ e; {0 g; g. n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
0 w. q9 K8 I& i' t5 A9 g分分鐘佢地唔使還錢2 f) Q, q% O" J) C
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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,; D1 l% L& K# t: p" P5 }3 |
連國家都係問人借, 不停發債券, 印鈔票
5 z0 S' U2 H3 B/ F0 n- c5 C) c一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* m% m, y. W5 n! K; W1 U- K  ~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+ D7 m% S0 L* y( C# E& T
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
6 P7 @# a) x9 J+ L8 t& q( ~9 j因為以前未生產, 先消費" Z- O' _* |) ^) n! s, t
而家就要多生產, 少消費