0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: E  H1 ?1 [  |
Why bank will sell 借據給第三者???
- o% {! [8 i) TI was so confused.....

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講到尾都係賺錢
3 w: l& T! V5 u  F5 M9 jso銀行可以不斷放款
6 n# z+ n# `9 }% b$ B" ^! k美國的房貸問題散佈到全世界
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* \3 C. h! K& ~mortgage loan 6 {' a+ X( M, Y9 `1 j; v* B, z3 @
>conduit
" q* [$ r( ~4 r2 ^! a+ V1 m>RMBS(Residential Mortgage Backed Securities)
' f/ H  r8 z7 ^5 t+ Z+ W' d>arranger
8 E- z2 X0 ~6 O>CDO(Collateralized Debt Obligation)
. s2 q& M* f' ?' l最後去到投資者

Kev

i thought it is the reason of rate of return.
7 N3 g, S2 }* @% a# {CDs could have different ratings, AAA -> F,1 L9 s* c9 ]1 h
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 Z; N1 p' f( y( d& amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 H1 f& d! u7 d" r. l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' q6 H( Z5 B; g% {) G4 ?# rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) R/ L' w) S( N) vsimilar to bonds, CDs trading in the secondary market have different value at different times,
% y4 N8 `4 }- ]+ ]( pnormally the value is calculated by adding it's principle and interest. 3 `) r, @- m6 F
eg. the value of the mortgage+the interests to be recieved in the future.
% i: f; E; \4 ~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.6 P1 E- \& Z9 S6 L) n) h/ a

1 h# X+ x0 [1 m" I- d# u& @* Bim not quite sure if the multiplier effect does really matter in this case.
+ [) |; J. M  z+ `" S( h$ r6 @in stock market, it's the demand and supply pushing the price up/downwards.
2 [* c- e' M9 e4 SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* z5 p6 ~9 L! [& N) ]4 iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., _2 a( F5 C" E+ [5 Z; ^6 @6 L
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.
3 Z. w2 t& i" X; s) w: t+ cbut the value of their assets did really drop significantly.
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[ 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; Z! t+ ~+ Z: x" H; c4 B6 F
Refer to last example,- N1 _. t9 c! s% k  I8 l0 t& G9 ~
that means bank A have no money because we borrow 10 dollars from bank A
6 |- ~0 q1 v" l, T' DBecause bank A doesnt have enough cash on hand
5 d; \( s  m. S5 _* ^# Ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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* [/ {! n9 n2 w* c* f( i9 wA->B->C->D->E
3 `, ~  w" B/ |. C" Dso does it mean if E failed to pay D,
& ~1 `( \  S2 f9 g3 Oall the B,C,D,E have to go bankrupt?
0 A# r& D* d( [9 n# \! j1 L+ V$ l3 U+ A0 ?

$ E4 u) Y7 O% athe multiplier just tell how much money created in a whole economy, ( e8 m1 Z2 F/ l$ \$ U( t9 ^) G, D
in this case it doesnt really matter how much money is created,
1 ^2 ?9 H/ [3 P9 `5 git's the problem of the debt itself.% |5 L" ]! w6 M* T/ O% `& M
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
7 S% ]0 ^+ E" j8 e: Q$ w小弟一直都唔明...# _! M! @+ g+ s7 {  A; g) I

; b# E' V4 o) X% r. Z全世界都蝕錢，咁邊個賺緊錢呢?8 e6 z; c" t" H

0 Q) c4 l5 c$ \( C無可能淨係有人蝕錢無人賺架嘛...0 g/ t5 a8 V# u4 _8 a+ B1 H

8 P0 Z' r- L2 `4 }- |8 H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  
. D1 q$ M8 l$ o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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/ o! W9 m+ Z% ?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/ T: U+ z* q& f  w' T
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 @3 F- M! \4 x8 V9 i
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 `0 u+ n" @) x) ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 h* r4 `; X8 g( ~, X
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 e. i6 p& Q$ X2 m- F計番回報率就已經係50%,所以可以好好賺' v1 c  Z3 P; [. S& w7 m1 M9 x
前提係銀行之間要互相信任先可以咁樣借法
1 u, j: M+ Y! ?1 q% z0 S2 c1 S& O同埋個市場既前境要係好先得" D% c( o3 c: A; s3 T
但當經濟一差,公司估值趺了,物價不升反趺7 D5 G# e* |; L7 E/ Y6 C& P
例如剛才說10蚊的, 趺到得番9蚊, 4 I" D4 I* u: Y; ~" \
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ `7 k% V  s; o; b0 e4 H7 s2 T所以你就會覺得D錢好似蒸發哂咁& _, a, \, T9 ]! E* t# z" k5 i
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你都可以當標野咁諗, 個樣野多人可以狂升值,
4 {9 C8 @0 |& N! n% F) |6 S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, , L2 J/ Q( @4 H  T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( R7 J% \8 E/ C
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- r0 n4 w, {" G9 o
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
9 f, k% B. p) @7 {8 C' L唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 Y! X5 Q' X7 V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 W! n% f) o( i0 N& T! G% [. 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( i! w) T7 N4 u; K, v! c
咁你話d錢蒸發左去邊? ...

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7 {; w) T5 h, c正係咁樣9 N8 p/ Y2 s& Q8 _% \/ Z
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; I1 R8 s- x# y8 K& ]1 N9 r分分鐘佢地唔使還錢/ h& h- e' W- E: G# x. Z' f

6 i+ [% w; k" T) a- i3 s, e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,
5 L  V, _" D: m( O, s5 M連國家都係問人借, 不停發債券, 印鈔票
0 j; o3 A3 D5 m4 P8 e一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' B6 b, I" Q8 g
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
% z0 q" D/ G; b) G$ t咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ B7 c2 o0 b% ~4 e, a0 L  D其實係...& }. @# s' g  A! k- O; f; J& D9 O
因為以前未生產, 先消費
( H# ]3 v7 G/ e- S; |$ D而家就要多生產, 少消費