0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 F* p, i# B6 @* h1 V/ ?Why bank will sell 借據給第三者???
. f+ _! L& |8 m1 jI was so confused.....

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講到尾都係賺錢
9 k& C) H  ?8 H& D  s3 Tso銀行可以不斷放款
. a! X* A' E' y7 ?8 T美國的房貸問題散佈到全世界
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4 A8 g: \- \9 a( y- Vmortgage loan ) A' I. P+ q+ U" E3 ^
>conduit& g$ l- P5 b) W) Y
>RMBS(Residential Mortgage Backed Securities)- D" l2 o+ Z6 I3 d* z7 A+ }
>arranger7 ?* ~! p7 j- B+ W) X
>CDO(Collateralized Debt Obligation)
; j* _& T% k  E4 F" K8 D8 Z2 _最後去到投資者

Kev

i thought it is the reason of rate of return.  B$ f, R+ {! W8 L2 `' c1 s
CDs could have different ratings, AAA -> F,
8 V4 `' |" C2 ?- S* ]! Wmore risky ones would have higher premium (interest rate) as a compensation for an investment.# K8 \. Y3 i8 U7 ]0 ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 S4 p8 n- A, |! X) K" x0 |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 a6 v9 F7 w1 R5 m; R. NAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 a& |% i* R  f4 n
similar to bonds, CDs trading in the secondary market have different value at different times,, v1 W# T7 j' q9 i& [( }
normally the value is calculated by adding it's principle and interest.
! f2 {( o  [! z3 ?2 i+ K. H2 h& heg. the value of the mortgage+the interests to be recieved in the future.
" g9 l# P" E' K! S- `# i9 O7 _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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  q' }: @& m2 V; s4 ^$ Wim not quite sure if the multiplier effect does really matter in this case.6 E$ }' c, O; p# V
in stock market, it's the demand and supply pushing the price up/downwards.
, D- z+ X- k+ Y2 t+ n4 Y8 PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 a) @3 c  f3 v: G7 r/ dA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 P4 x+ |' K$ m9 b/ @
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.
: Z% Y# J& [  r2 V8 e: ]' \, Lbut the value of their assets did really drop significantly.) ?' g% d7 |8 j5 Q. d# S
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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& l, N. w# j* O
Refer to last example,7 u* L5 f2 C4 n: ~/ ?: Y# Z
that means bank A have no money because we borrow 10 dollars from bank A
0 ^" n7 O" ^; |+ |, ~/ |Because bank A doesnt have enough cash on hand 2 a* b, ~& J3 n, I& E& h& |) o: n
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' ], H3 N; Q+ |1 d7 X8 Hso does it mean if E failed to pay D,
. }4 h+ N1 o5 ]2 i$ Mall the B,C,D,E have to go bankrupt?8 b  S4 F# g9 k9 ?7 G

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the multiplier just tell how much money created in a whole economy, 4 |' n6 Y& k8 h% X- X# e
in this case it doesnt really matter how much money is created,
6 j' x% {: J* J& F; Yit's the problem of the debt itself.! H, d" |+ i0 A( f, s% Q
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
5 D* H% X: m. `0 ]+ ~4 t& a小弟一直都唔明...
7 ~; U, u# ]' Z. j1 _/ \' B2 V1 Y% T& J7 E4 B
全世界都蝕錢，咁邊個賺緊錢呢?* e: A) p4 W4 D+ _0 i" t$ B

% g/ K8 ^, Z4 V3 Z8 c) |- d! Y  g  l無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答  ^3 }0 W, D& z# {2 K

9 t$ R& D8 ?4 e5 O9 d9 fThanks

8 g2 u+ i% p1 B* `6 D
那些根本係 紙上財富  
% h3 @. M* f, Y. e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 graphic1 t3 _! r1 ]# N( T% M3 b1 o7 u
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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
7 Y: |' [( z' _: B. p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& r; z% P% L( z0 P7 M* M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2 I, Y1 f9 p" ]# {3 V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& G- p7 Z! ]7 J2 A: ]3 s扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: @1 }1 ?# a1 M  e2 K計番回報率就已經係50%,所以可以好好賺* [. S% J, F7 z- `2 w
前提係銀行之間要互相信任先可以咁樣借法
) w7 e* w7 a3 j同埋個市場既前境要係好先得
8 `, v; J# j: B但當經濟一差,公司估值趺了,物價不升反趺4 u. P' R# L* }5 G/ `% [  f
例如剛才說10蚊的, 趺到得番9蚊,
; p2 z, {9 f1 g" S4 q# H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 C" r1 t1 K+ U3 Y所以你就會覺得D錢好似蒸發哂咁2 F% j& o3 D8 g4 q: n

# [" T7 O% H) Z你都可以當標野咁諗, 個樣野多人可以狂升值, 1 F# [( ]' E: o
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, # T) L- s" b* D9 ]& Z' q  X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" d( Q3 Y1 t0 j9 M; x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, r1 N# i' q. \# v' g1 ^3 |) h
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& z9 V& h# q- c' r
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 t4 x# W, q( q9 Y0 d$ Y7 ^$ T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " P  p) k, T( Q0 _4 X" q: b# y
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
# H0 w& a2 ]. z' f咁你話d錢蒸發左去邊? ...

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& k& ~; ?1 ^8 M4 h' {6 n3 r正係咁樣; o7 [1 y9 M6 x3 o
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
/ L* v3 q7 |4 J) l9 z分分鐘佢地唔使還錢) q2 h6 M3 \$ I( V/ c! _7 x. M

+ N$ p! {/ D3 W" J5 Z& n- F; {3 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,
) c$ i  z7 C! h7 h連國家都係問人借, 不停發債券, 印鈔票% ?- Y: Q+ n7 D, h( l: d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ ]8 T$ g% r! p3 j% ]* {8 f( l
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/ g5 A$ s: _: w- m. ~, E+ a咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ q- G* a4 c; U
因為以前未生產, 先消費
" b6 w. A4 }; c; a% m. a6 U而家就要多生產, 少消費