0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 n7 P, s2 V* z
Why bank will sell 借據給第三者???4 G) |7 M# W9 p9 \5 y1 C4 B& f
I was so confused.....

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, W/ M: j% g! ~6 h$ C! i) R講到尾都係賺錢) [+ j9 P) J: f2 M8 |. v* ~/ s8 z# x
so銀行可以不斷放款+ F6 A5 ]- R7 |* x! I0 T6 }
美國的房貸問題散佈到全世界  F) o* w( r/ ?. V0 s2 K1 A

( E0 F. {7 |* ]; {mortgage loan
5 V2 c% h. _0 J>conduit
% ~% `9 |2 V1 ?# K" N3 T>RMBS(Residential Mortgage Backed Securities)
3 u2 V4 f8 W, q* o>arranger  J$ F$ C- b; M1 g8 T
>CDO(Collateralized Debt Obligation)# V( n: Q$ C$ |& Z8 T, v' S9 C' t
最後去到投資者

Kev

i thought it is the reason of rate of return.
% e7 L7 P. z7 b* {CDs could have different ratings, AAA -> F,, ]3 c8 Q% G4 ?  V
more risky ones would have higher premium (interest rate) as a compensation for an investment.) W  L3 k& C0 K$ O& E; l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 A- i3 l6 D; [. U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' e. r4 |, g  V% Z4 c5 v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." F0 N) f* n5 [. q& f  U; \
similar to bonds, CDs trading in the secondary market have different value at different times,
3 d; a7 [% _6 Y1 ]& Nnormally the value is calculated by adding it's principle and interest. + h# Y  ]' v# V5 N6 j: b4 Z
eg. the value of the mortgage+the interests to be recieved in the future.
+ y& O1 ~' R0 Kbanks 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.* M! a0 O6 X# j2 k* F, s
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im not quite sure if the multiplier effect does really matter in this case.2 z1 F4 [2 K$ ^6 ~- z) D2 z
in stock market, it's the demand and supply pushing the price up/downwards.- N* ~2 Y% y5 e* l' ?' j  ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& O* ]5 d( e5 ]) I6 I4 K/ v
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ G$ J3 M- ~% VThe 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 H" ^7 f# I& e* H$ V' q0 ubut the value of their assets did really drop significantly.
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0 b  V, G0 f3 m$ ]! p& D3 \. o[ 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
1 K' \' C; C" Q. n8 v; f% _' K& J3 lRefer to last example,
% U- m5 d8 h( P) Hthat means bank A have no money because we borrow 10 dollars from bank A
# W) g$ o' O! G- ]/ W* }Because bank A doesnt have enough cash on hand
& M, m; `3 X3 P. Htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 O' q3 y: x! g# q, YA->B->C->D->E
- I& H# d9 j7 q, o! I+ Xso does it mean if E failed to pay D,
4 z  m0 \3 l+ a! C6 ~* call the B,C,D,E have to go bankrupt?- n5 _6 k, s$ ?+ ~
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# K) W9 Q& D7 Y. Y# D
the multiplier just tell how much money created in a whole economy, 0 C" W- G* y& G. E8 L
in this case it doesnt really matter how much money is created,
$ D" o2 I! j. {' _' i; Fit's the problem of the debt itself.& N9 B9 r: c! {9 z( b& N, |
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# v' S+ F9 t5 }  q$ l
小弟一直都唔明...9 P* C  S; j3 g3 |" |: W; \

, z) u) i) x5 a. C: ]  Q* [: Y全世界都蝕錢，咁邊個賺緊錢呢?
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% B5 h- s7 E1 a9 d# P無可能淨係有人蝕錢無人賺架嘛...
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. s4 G/ }3 {+ k4 P5 C敬請各師兄解答
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Thanks

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那些根本係 紙上財富  6 T& H. z( Y$ N) ]* 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 graphic6 p2 e; G5 K$ G3 l: y* z

1 m7 @1 y" `5 g6 C% mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' d  z: s2 b/ k4 A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高  l& Z5 r5 @# s$ t4 l
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1 x9 s2 \3 Y& u
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 a2 a% o; Q4 x
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 G$ M( E0 F" J+ P計番回報率就已經係50%,所以可以好好賺' u6 n# d3 ?/ k! E( Y
前提係銀行之間要互相信任先可以咁樣借法$ w9 x. p! T, {$ l! f) J
同埋個市場既前境要係好先得
8 A, a: W  P0 g  `3 p但當經濟一差,公司估值趺了,物價不升反趺
5 I8 S7 z/ D: _  x% x例如剛才說10蚊的, 趺到得番9蚊, 4 g) ^( e1 X0 L$ `( \& D, D) g
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 B& V+ ]1 e: P4 F) ?+ b2 |1 P* i% b3 K所以你就會覺得D錢好似蒸發哂咁2 T8 c9 {6 [7 w$ D" I
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你都可以當標野咁諗, 個樣野多人可以狂升值,
! W3 [5 H5 f" @. W7 z; W* N0 a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,
2 N: ?+ l$ y. U" S# `( C9 f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 o1 J; d& O8 Z4 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) p/ ]3 T! x' N+ I- x
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  h4 ~! w& L0 w% a: A! [; M8 N
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 @8 K  y) a; }0 E3 _3 h% ^' B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, z: Q6 K* c% Y  |) o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
3 O7 \9 D( v* N5 ?' @( p咁你話d錢蒸發左去邊? ...

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+ X) ~8 ^& k1 p" ?) r正係咁樣' Z' |- P( S& x- ~
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! }, ]; q  q% I& ?( b分分鐘佢地唔使還錢
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  K: g2 ?6 P1 M/ T7 i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,% n. ~5 @; ^7 G" n" v
連國家都係問人借, 不停發債券, 印鈔票# G* _; a) z# u" Q. a- C9 }, O( g
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 M- j) }: P. J  L; C
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.gif4 e! `4 w: v# k- W# r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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. G, ]8 T; _8 ]4 L, m2 T其實係...+ P' b+ V  _8 h. p+ i
因為以前未生產, 先消費( S" v. u3 G+ z7 [% f
而家就要多生產, 少消費