0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( t4 k- Q7 ~7 |) C7 a" VWhy bank will sell 借據給第三者???
, Y' ~' p' f& m7 l# `I was so confused.....

8 a  \# W8 O9 m3 N: c
% q6 ^! @9 A( s4 D: M( N4 f
講到尾都係賺錢
3 e2 ^: E. @( E0 p& H2 k" Lso銀行可以不斷放款9 ?. N0 q- s1 r! S( ]+ y. v
美國的房貸問題散佈到全世界, W) R( x; A3 s- F) v8 e$ ?/ i$ G

4 k0 Y8 q8 p! umortgage loan
' h/ U) `! q- G6 [>conduit
) L/ ?/ B" H; b1 P+ s# ?2 @! Y>RMBS(Residential Mortgage Backed Securities)
5 ~9 j$ I- p; J7 _% ]>arranger
2 v# K3 C) J1 g>CDO(Collateralized Debt Obligation)) z- @: |1 v. v) ~, v8 `
最後去到投資者

Kev

i thought it is the reason of rate of return.
! \( K" n; `, _0 xCDs could have different ratings, AAA -> F,
5 p3 ^& a2 L) G% x% R2 bmore risky ones would have higher premium (interest rate) as a compensation for an investment.8 W( Q8 D! j0 z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 O1 a5 _' M+ w- {' {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ D; G( e( B* W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& g: B' w/ @5 \- U
similar to bonds, CDs trading in the secondary market have different value at different times,
7 K% k' _. `* w5 U3 H* ^! Lnormally the value is calculated by adding it's principle and interest. 7 w. Q8 f- |" h$ B4 x# e( L
eg. the value of the mortgage+the interests to be recieved in the future.
5 y1 o- ~, w5 P* w- @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.+ p: v% X" l' r* b: U, h/ g: D
, \4 Q, c' f/ L8 [' L
im not quite sure if the multiplier effect does really matter in this case.8 Q7 L: T$ u# m0 w) L. _1 F
in stock market, it's the demand and supply pushing the price up/downwards.
# Y  g. z( P/ U; t4 K: tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 Y& o4 ^( D- @1 B4 Q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; k( `" K3 v5 n! C, 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.
; N% H4 w3 t5 Mbut the value of their assets did really drop significantly.5 A% f! n" |0 u" x

) N! N& ?4 p1 @* W9 a& ^# l: p[ 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
3 d; |" p+ Z/ n, z$ XRefer to last example,
( n5 d1 N5 n5 _1 Cthat means bank A have no money because we borrow 10 dollars from bank A ( y  |: V- \! Y9 q; o6 W% R+ Y1 C
Because bank A doesnt have enough cash on hand ' d* z; l' C8 u& u4 Q. e3 G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

  @+ _3 h3 K8 I$ b; d) E. W" w; a% F# F) I  Z

7 S4 d) B# F6 k' n8 A+ ^+ W5 h) {A->B->C->D->E
2 h6 Z6 s2 @& a: k% k% ?% \so does it mean if E failed to pay D,
# G  _; U  I" P& }( X  p. ~9 Call the B,C,D,E have to go bankrupt?
9 t  t& O# o% p- K. k  }$ A
5 Z) ^2 M# f" l/ N/ ~- J& t
, F7 P) v1 Q2 k; S, Othe multiplier just tell how much money created in a whole economy,
, q' E6 D% `" F6 ~( Bin this case it doesnt really matter how much money is created,
* z  C6 W1 f. U* M- M/ Oit's the problem of the debt itself.
# f' e+ K' p% O. N1 ]( cthe 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& t% k' [7 \4 b5 V) k1 N小弟一直都唔明...
2 O2 t* S: _6 U5 d% G4 K; G4 p, Q/ t
全世界都蝕錢，咁邊個賺緊錢呢?7 j- K/ @  M& R3 }; P% s, l6 n$ u

; _  Q$ r; y- x9 P無可能淨係有人蝕錢無人賺架嘛...
1 H. y/ s: _+ s8 M  L9 H) h( F( r0 O: y1 L7 W
敬請各師兄解答
1 U9 h( b# b9 L5 }% g* N2 W7 \7 {
; a6 {9 x2 g' n6 MThanks

! r! Y0 _6 ~2 N, X4 B那些根本係 紙上財富  
8 P0 T* E5 L2 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 graphic( Z' D. l/ H  x) e6 Y* K
" f( A8 H5 l, e3 K0 b; d  u. 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/ o' m, o" I3 }6 o+ ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) Q8 T! L2 o0 j2 t, A  d3 {6 |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
$ |& r/ B. H4 K: [& s' T4 R. `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 t, a: Q2 Q2 h* M- S扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 n; R- C; a) a# }5 ^
計番回報率就已經係50%,所以可以好好賺
% z. f8 @2 k+ n9 U7 n9 }前提係銀行之間要互相信任先可以咁樣借法$ J  C/ V& d% ^3 I: l$ `+ l
同埋個市場既前境要係好先得
: X$ R) G" k9 {0 f6 t但當經濟一差,公司估值趺了,物價不升反趺
+ ^& x$ F( J0 k例如剛才說10蚊的, 趺到得番9蚊,
  r: e5 ~& [- M+ S, w/ c咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& x" e) O* }0 O' h所以你就會覺得D錢好似蒸發哂咁
9 D* T/ g$ l* {% a' U
& g) k+ Q, L2 B) G0 I6 w你都可以當標野咁諗, 個樣野多人可以狂升值,
4 d6 S+ y' |6 ?1 |, 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,
8 k9 s0 k& V. l: r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 W- F/ L" C  K! G" `
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
  y; `( f, Q- o- I3 u1 f& 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
9 p$ A. d6 F  ]% B; V3 X+ P唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 Z( k9 u0 M7 ?7 J& t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # ]' s- b0 K1 {4 R  L; R: p, 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
1 P0 X9 ?5 s/ I9 }) L' e3 B咁你話d錢蒸發左去邊? ...

+ d; b. l1 _5 |$ x  o

9 m+ c- X" B- \, K正係咁樣
! l8 ~3 v& n0 C0 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! Q4 Z- P1 ^4 w( @
分分鐘佢地唔使還錢6 C8 I( _0 y& M

* S6 A, i7 T8 k( F% L/ g: r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,
# ^4 Z( v* T$ a' x, ~( R8 h連國家都係問人借, 不停發債券, 印鈔票* a( f$ t; \: c5 a2 k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' q& f: t7 ], [% ?$ h3 L" f
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: Q7 ^6 `$ s! V
咁而家"爆哂煲"算唔算先至係變番"正常"???

+ v2 X* l* c$ r$ `* x

& D( g. l1 a. N: a3 M  V2 Q6 @其實係...5 n  B, M0 y. n: B- W* g
因為以前未生產, 先消費
% z0 d0 K  R7 M) R而家就要多生產, 少消費