0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( D  P9 r# u' I$ _6 h6 M4 v
Why bank will sell 借據給第三者???
2 R7 [. s; B1 f# {0 Q9 {4 Y) }I was so confused.....

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! U9 q0 V# I; X/ p講到尾都係賺錢0 B2 g2 L6 `+ |( ^
so銀行可以不斷放款4 F+ o# D3 S% }6 q1 e, r
美國的房貸問題散佈到全世界/ u. k; `. E+ v/ X' [2 Y! |2 h

5 W* h# L# k+ U) rmortgage loan ! h. M, N& L' ]: |3 S0 e
>conduit$ T) a" |4 x5 Y* T4 ^' F
>RMBS(Residential Mortgage Backed Securities)
: W( p0 b! L3 [5 L7 s>arranger) r$ a1 F. A6 @0 I" T/ J# J
>CDO(Collateralized Debt Obligation)
7 l; f! C% o0 V' U5 q  W$ g最後去到投資者

Kev

i thought it is the reason of rate of return.3 I5 r; L+ e, w: S: w
CDs could have different ratings, AAA -> F,
  M' n, }9 v9 e+ d( H! jmore risky ones would have higher premium (interest rate) as a compensation for an investment.* }5 I' _* ], Z/ c* C7 F
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 Q7 X2 S/ W1 hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( E: e+ U; u& O) ^- uAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( R& _! n" r# A) c! lsimilar to bonds, CDs trading in the secondary market have different value at different times,* Z  j/ j; h0 O9 g5 j" }& h* ], ~
normally the value is calculated by adding it's principle and interest.
& h0 ~' ?* t0 Z6 m# g7 meg. the value of the mortgage+the interests to be recieved in the future.
! P6 x6 [' k# U( q+ Ubanks 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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im not quite sure if the multiplier effect does really matter in this case.
, L* ]% `1 g( E! D9 v) Y0 tin stock market, it's the demand and supply pushing the price up/downwards.
4 Q$ p' D6 `' }; i- bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, `- x% i7 |1 D5 d+ W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 u* ^- W( r0 C- y) N! _
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. % q7 a; y# i9 ~8 i9 I1 b" e' Q
but the value of their assets did really drop significantly.2 B/ U4 K. U# l' J

/ |- C/ [# r% C, @" {( K' A+ w& g[ 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
7 n" ]/ F/ E0 b$ q6 ^" CRefer to last example,3 b3 _" s, j# H# H5 c/ W) ?
that means bank A have no money because we borrow 10 dollars from bank A
- r/ S5 G( K9 mBecause bank A doesnt have enough cash on hand , F( z1 o; j8 D3 }( g* c$ x( s8 m
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: `! k$ h3 U, N' ~8 r/ gA->B->C->D->E  a: I* P" q: ]+ y& }: m/ \/ t# [
so does it mean if E failed to pay D,
9 |3 V& E' {  c; P8 }+ c/ xall the B,C,D,E have to go bankrupt?6 b" [' V  C7 ?" |
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the multiplier just tell how much money created in a whole economy,
9 W/ U7 l7 b  j2 f" f# E2 g$ Kin this case it doesnt really matter how much money is created,
* J9 ?$ ?! U% i% v# Y0 rit's the problem of the debt itself.
2 C# f7 I- P0 T: P4 O* Uthe 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
& G2 {% K+ e9 x! s/ d5 U小弟一直都唔明..., L) N5 \% B! l& ~- n
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全世界都蝕錢，咁邊個賺緊錢呢?9 `" V' m! v1 A/ ^! X* p; ~
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無可能淨係有人蝕錢無人賺架嘛.... }  u  i. k8 F
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敬請各師兄解答% j6 e/ ^2 e( C7 T% Q
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Thanks

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那些根本係 紙上財富  
$ e& n" l! x8 F7 d! r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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- N. A& K  I' U$ i- J1 s" R3 i$ U7 Ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
, z" j/ i7 ?  X' n7 u( Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 w7 b+ l+ ^1 z5 G6 ?
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 Z" r3 h9 h/ i4 ^# j1 m
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 i! f0 W3 e6 i5 Q' ^* B# I扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" {3 h8 `( |8 c! r! i計番回報率就已經係50%,所以可以好好賺# L. ?! m" B" i( G$ _/ d* b
前提係銀行之間要互相信任先可以咁樣借法( B+ M$ V( n/ z# J6 Z$ r
同埋個市場既前境要係好先得
) r. A0 E2 q+ \8 D0 j$ v+ k但當經濟一差,公司估值趺了,物價不升反趺
1 S9 g( T) T4 P5 m例如剛才說10蚊的, 趺到得番9蚊, % K* v* M! P% g2 Z+ V; g8 H" w1 z2 c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* f5 V5 s# W& x: t( x* V& {
所以你就會覺得D錢好似蒸發哂咁6 r5 [7 m% X* j! N; m) S  x9 K, ^

8 ~6 ^* P/ A2 s8 n1 C* ~& M你都可以當標野咁諗, 個樣野多人可以狂升值, ! o2 x% U0 o! j6 j" O; p0 n0 W
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,
$ ~- e" a, {  v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % Q, ~4 H6 p/ }' W- ]: ]# U7 s( E
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 K: k* |+ J& k: k" ~* q3 e! c) q
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
5 a, G0 i; u2 \/ P2 f  [唔係d錢蒸發, 而係比美國佬洗晒未來錢, - `3 |8 A# o* ]  j$ N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& \; j9 v6 J8 Y/ P; Y5 P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& }/ @% A+ k0 K/ e
咁你話d錢蒸發左去邊? ...

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正係咁樣
6 u# {; H  Z6 e( N, _, 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
( _6 P2 V' L9 X& D" v& i分分鐘佢地唔使還錢( Z# i: Y& T( Q
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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,
+ z+ m; S* R* v) G2 c  i# @連國家都係問人借, 不停發債券, 印鈔票, l  |* p/ T9 o. m2 I  E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ [+ [4 [" E6 T" f: w1 s5 p
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" p/ V0 v0 O1 j" {9 y$ [  [咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% G6 N2 Z1 U7 ^; q, a/ H# v( w, l
因為以前未生產, 先消費
4 A# _4 W' {6 E( y, \" X# B1 C: j而家就要多生產, 少消費