0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 U* K% S; V% N( D3 R* z
Why bank will sell 借據給第三者???
2 o/ h+ ^' S" r* ?: q5 oI was so confused.....

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講到尾都係賺錢
9 D5 }/ C+ T' I4 g) Rso銀行可以不斷放款3 l/ h+ }; |; e8 H+ h5 L0 R$ r" G! I
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)( x4 x( q0 ~: P
>arranger
; P6 O+ r2 s3 ^& }" r>CDO(Collateralized Debt Obligation)
5 H6 J2 \1 x4 S, X# q6 ]7 _' V最後去到投資者

Kev

i thought it is the reason of rate of return.* b9 L/ R! ^, Y. ?) S. D
CDs could have different ratings, AAA -> F,
$ C' D0 G, C& [3 W' Z, S- ^more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 N8 l1 E+ u( Y1 [& N; Kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, c  W) @7 z  b" @! @
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 b9 @) B! p: D# X. B# w
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" j  s$ w$ }* zsimilar to bonds, CDs trading in the secondary market have different value at different times,9 B4 `$ B, S1 w) j; r
normally the value is calculated by adding it's principle and interest. ; j3 P% i- S* n9 D$ Y( R
eg. the value of the mortgage+the interests to be recieved in the future.
$ u1 Z) r' I& {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.9 |$ H2 V0 j  \' G

! [, Q3 J2 ?; k/ v& i* |im not quite sure if the multiplier effect does really matter in this case.# P& D: t' f* P3 R5 q
in stock market, it's the demand and supply pushing the price up/downwards.
# e+ s) S  \/ b8 j0 K" A; MFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% h3 a9 S6 n, r: z, t
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! H5 e& o2 l: Z9 I
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.
6 ]/ f' m# E/ n1 x. _but the value of their assets did really drop significantly.0 p1 x8 T" A8 u- j9 Q* q+ B
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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
: w' O' z- p" E) V  ]: G$ [Refer to last example,& _% k+ d, @4 q$ d( s
that means bank A have no money because we borrow 10 dollars from bank A # ~* [8 x  W' a
Because bank A doesnt have enough cash on hand
0 F! h1 g+ e/ o3 p% i9 }! rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E: C8 o" E0 R7 M( q7 g
so does it mean if E failed to pay D,
- L% a, l# }* s* L  u8 Dall the B,C,D,E have to go bankrupt?( M' L8 X6 b% y, Q% V" s! \

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/ a0 \) a9 H+ T' _9 Rthe multiplier just tell how much money created in a whole economy,
' }2 A$ B8 b2 Win this case it doesnt really matter how much money is created, 4 u2 b2 w4 ?3 y/ X
it's the problem of the debt itself.7 e% M2 Z! t( Y. l" K
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+ X" C- f! g! o1 V: _
小弟一直都唔明...
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6 @& T& ^" L  w; g- e全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...% J) U( q( r7 ~" g# r" Z

/ t& C6 X" N3 o+ k& \, f3 I; [敬請各師兄解答" \7 e5 \9 Q$ |+ t. d

/ I0 o4 ?9 Q/ }7 s- EThanks

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那些根本係 紙上財富  
5 W' q0 e" |$ F7 H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 graphic2 J. E3 h3 L0 W6 J- D+ i2 h5 n/ |

, n7 G. I" n% A# a( Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產: V* U. @+ x1 {0 v$ V, [8 }
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% A. d! ]/ k4 c  T% L' V
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6 S: a& u$ \2 S* x; b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: P# `% d* ^' O, B4 U$ w' r  T' I
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) T" i& x5 y, ?/ m# @$ ]+ K計番回報率就已經係50%,所以可以好好賺7 X9 c" ?4 S0 h  z0 Q+ x
前提係銀行之間要互相信任先可以咁樣借法8 P# c* H9 @8 C: G+ I% z* F' @5 d2 K- \3 I
同埋個市場既前境要係好先得
  r' Z( F- d0 T但當經濟一差,公司估值趺了,物價不升反趺; f) m  F6 i0 m4 Q% o7 e: y8 }
例如剛才說10蚊的, 趺到得番9蚊, " p- Z8 [! w% L% P5 U) f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 M! `! t. v' I5 \所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, . j8 }6 g$ Z9 m' u+ g
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, , W3 x# Q( h- \! d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 j6 @- g7 {5 L9 ~- h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* e1 D  s% R& 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. H7 w  L, @3 l. |* G* [% M
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 j, e1 A: U+ f) G5 K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ S0 ]. _% V: N2 j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
6 R2 p1 w, O" {2 k8 d5 u咁你話d錢蒸發左去邊? ...

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正係咁樣
0 z  {6 C$ C1 G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# H& A7 I0 ]' S2 P' x" W7 C
分分鐘佢地唔使還錢
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6 Q+ n2 g; B( D" l' P: Q, {+ T" Y$ z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,
( P3 T* k- E' R4 F9 t2 v. x4 `連國家都係問人借, 不停發債券, 印鈔票5 ~' a4 r+ |; N; U, o5 H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 X0 G1 {: L- q
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
" g- }) _+ F$ K; _: H. @9 ^( p咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 E5 Y$ _- C+ i3 m- ?7 Z+ P! l8 M
因為以前未生產, 先消費
5 a: ]2 ]$ O* l9 x! ~: Q5 L. o3 }# n而家就要多生產, 少消費