0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% k( z1 p" a0 E0 ^
Why bank will sell 借據給第三者???
! H5 i3 X7 c% ^# e# x5 WI was so confused.....

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講到尾都係賺錢
' q/ X, Z. D3 s, Z7 e$ _9 U0 cso銀行可以不斷放款; W. ?3 H2 @8 H& `$ n' v
美國的房貸問題散佈到全世界+ {( C, V7 z' {3 f5 i. T) u
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mortgage loan
3 ~* g7 F5 Y& Q3 h! v>conduit! I4 K7 Z# y' i2 |& y3 Z' p3 a
>RMBS(Residential Mortgage Backed Securities): ?( T1 {% \; L1 Q, V/ x! L
>arranger  D! Y) ^" A2 L
>CDO(Collateralized Debt Obligation)2 k# @1 [$ C9 T. k8 G
最後去到投資者

Kev

i thought it is the reason of rate of return.
2 I# ~( F# X" ICDs could have different ratings, AAA -> F,
2 X* N/ h  L9 d( tmore risky ones would have higher premium (interest rate) as a compensation for an investment.
. G& K# K1 \' p" Q5 omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# g3 G1 V) H! \
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: R) u1 m- `+ }; s( d! AAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 B; O- B% |7 Y, f
similar to bonds, CDs trading in the secondary market have different value at different times,
/ P& V. y( [) I3 a2 y, p, lnormally the value is calculated by adding it's principle and interest. ( l. N4 [) t$ s6 D; t
eg. the value of the mortgage+the interests to be recieved in the future. 9 V& t& L3 _2 q" m9 i- 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., j# f7 v( p1 H4 a3 ^7 G
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im not quite sure if the multiplier effect does really matter in this case.7 w% x& v: C" w3 \, t# {4 D
in stock market, it's the demand and supply pushing the price up/downwards.
4 x* @4 Z( |# jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ I7 H: O$ S- p2 T3 C% h, _1 `) iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 |. X7 c  ?  R' y& TThe 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.
' r& E# }; c0 }6 p) @but the value of their assets did really drop significantly.6 {: O: E7 r- p8 n  E$ o7 ~
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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
( k2 k" N, T" |2 O! ^4 ARefer to last example,
# P$ ^  ~* w; Y5 T' Lthat means bank A have no money because we borrow 10 dollars from bank A ' n1 M6 a, b1 Y
Because bank A doesnt have enough cash on hand
7 S6 y; q- L* s- }5 O& w1 ~therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 w% K7 Z/ H3 m; ]
so does it mean if E failed to pay D, 1 j! j8 I8 b& I- @3 p
all the B,C,D,E have to go bankrupt?8 A- w9 t2 {* T+ C* l3 m. E4 |
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the multiplier just tell how much money created in a whole economy, 8 e% ]" \% F) |8 W' O
in this case it doesnt really matter how much money is created, - X3 Q; Y% e! L4 I( O
it's the problem of the debt itself.7 x4 a; H8 ~* w% ]! D6 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
( O6 A" q% y( f1 I9 y" i/ _9 U# T8 O小弟一直都唔明...) N+ E1 k7 B0 k1 R/ o# y2 q* E
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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...5 Z. x, z; q) P5 O
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敬請各師兄解答' a* z  m) x  ~) U3 `9 ~

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9 D3 r8 ]% v- L4 f: ?+ K( ?那些根本係 紙上財富  - X! P" Y! J1 x+ ]) t9 K5 W
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; I0 g7 y( p# m( w
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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, b8 g2 q9 Y+ B
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 U9 x! a) |1 }. |: G
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4 r# T5 n5 z0 [! r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" _) `6 o% O& r, t9 L扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 k2 I6 ~. q$ d/ B
計番回報率就已經係50%,所以可以好好賺
3 r2 v" L/ B6 P: E前提係銀行之間要互相信任先可以咁樣借法) [2 q) [, q( U# W
同埋個市場既前境要係好先得
* e7 h2 C, w- L+ U: J但當經濟一差,公司估值趺了,物價不升反趺
8 \7 s, d- X+ l/ V例如剛才說10蚊的, 趺到得番9蚊, 0 z3 R. l5 q! ?$ |& ?  F
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 u8 \' w, ~5 g
所以你就會覺得D錢好似蒸發哂咁3 g& |  {- l& Q$ ~; _

' Z, T) W. Q" S你都可以當標野咁諗, 個樣野多人可以狂升值, ; @2 B7 l6 Q5 [5 {* P
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 |. X/ s: B7 S* |1 O- r3 f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( M, C1 Z# h/ N; 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$ E( Q' g7 B( ^+ E8 B/ |! R
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  B3 {" L! @' S
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
* ]. Z* M, |3 a0 h0 |5 p' ?% z* e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 T! I4 Q$ X" R' Z$ 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$ H( u2 L4 B, b/ d9 S9 s
咁你話d錢蒸發左去邊? ...

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正係咁樣# {6 _4 B/ M% W' E
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" R1 Q% k, `$ l# q/ x
分分鐘佢地唔使還錢
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- ~& C- O6 s, W# Z$ C4 Q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,! q) i% d8 D2 i
連國家都係問人借, 不停發債券, 印鈔票! R% O* i1 v( r) C1 Q0 S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 @: v# F$ H8 p, 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.gif/ A9 S. z% ~7 r% t
咁而家"爆哂煲"算唔算先至係變番"正常"???

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: ]5 \4 W* g: k8 A4 v& a其實係...
/ \" W7 ^! q/ a: D" y' R( i因為以前未生產, 先消費
9 z& p. {" E2 o+ [* z' @而家就要多生產, 少消費