0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 H, Q3 E2 f' ^' M* `
Why bank will sell 借據給第三者???; V  |3 z: O/ W! o& |( l9 o
I was so confused.....

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* f$ J. V/ M% @. O7 A& f講到尾都係賺錢! X; K' W3 _8 L/ p- K9 P( ?+ W
so銀行可以不斷放款
2 c8 A. I; |" N% H$ n4 u美國的房貸問題散佈到全世界
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. Y' W# U0 Z% f. g1 h$ Tmortgage loan " d" @& A: L$ I) E; B, s! D
>conduit8 b9 x- X1 Z% z$ y
>RMBS(Residential Mortgage Backed Securities)
7 C' u2 d  W9 t2 r& N! C>arranger
! m9 D2 a9 {) O7 w>CDO(Collateralized Debt Obligation)
- B# W1 x, R" k最後去到投資者

Kev

i thought it is the reason of rate of return.0 G$ z+ V# ~" d+ O
CDs could have different ratings, AAA -> F,+ O9 `2 g# D& X3 [8 }' c
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 h% Z8 U% s) F* Q1 e' B% H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 R3 y$ X' M8 {3 Rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 J4 @+ H1 e' ~
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." y4 r8 u* ?# D/ W
similar to bonds, CDs trading in the secondary market have different value at different times,6 o4 t+ m; `5 Z- ]; c1 t
normally the value is calculated by adding it's principle and interest.
" J; w- `& t+ r! Q7 Seg. the value of the mortgage+the interests to be recieved in the future.
( p" Y! b% _1 G3 l8 k; _9 kbanks 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." X# b) ?8 q' _; c1 _: y+ f
in stock market, it's the demand and supply pushing the price up/downwards.; t, x3 r1 G. j, C
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 m7 |$ p9 j5 Q+ {- j" F! m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' I" Q8 L! X5 G: r2 z+ v8 j% {8 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. ; T9 M( k6 B) c; |( [
but the value of their assets did really drop significantly.
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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.gif2 r; Q8 x) L- n3 R9 S2 O
Refer to last example,
0 F5 y: t- J9 m3 V* uthat means bank A have no money because we borrow 10 dollars from bank A
# O1 s* T# L/ J" t; Z/ a0 X  XBecause bank A doesnt have enough cash on hand ( P1 M( U+ R: L' {. Z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* t/ k) p/ v1 B: i: \: F6 MA->B->C->D->E; J. v3 ?- T$ W- x- [6 ?7 c' f
so does it mean if E failed to pay D,
( J; G; B; P* {/ Y; ^( Z) nall the B,C,D,E have to go bankrupt?
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! q$ q: O: i/ W2 e! @! h# ]the multiplier just tell how much money created in a whole economy, # H7 g1 e5 q3 k
in this case it doesnt really matter how much money is created, * a7 i- r' {. r( J
it's the problem of the debt itself.+ k8 f  `4 f" K: m8 r8 T
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" `8 U; E; @' n0 x5 V+ S: M6 `
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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; s) S) P0 ]! [1 r! q  ?5 b# N( F無可能淨係有人蝕錢無人賺架嘛..., d# Q- z7 ?2 p5 m! `+ I& U" \

! q& D+ N- x5 J: _$ {2 s) J* f敬請各師兄解答
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% f" |- x: ?! Z7 j0 |+ [; TThanks

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那些根本係 紙上財富  
$ F1 m$ U8 t9 Q; J" X6 r7 u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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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, @+ o1 K4 e* S( l# P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 ]8 B, |# r! z$ T6 e& P0 r% p
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
' ^0 Q8 ?" i; A5 [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 R4 z5 B$ a5 _5 t; T, r. R' B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( r- Y: ~- X6 B& V9 G4 P$ V" q
計番回報率就已經係50%,所以可以好好賺
7 x2 @, V2 _4 w- p+ A前提係銀行之間要互相信任先可以咁樣借法; f+ y* ]# @6 F6 K/ h; u
同埋個市場既前境要係好先得
% S" z- a8 X+ h: L但當經濟一差,公司估值趺了,物價不升反趺) V- ?0 }* o4 s3 d. h# o. z6 K- G
例如剛才說10蚊的, 趺到得番9蚊,
, w2 T( V( Q  i6 S# G) i0 {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 y+ M3 e) K! p# w' ?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, * f4 X1 t1 _3 U+ a8 L
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,
7 T2 \% S! ~+ m5 O3 ?- u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 m6 r# ^* v/ E8 h. O0 ^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" U. f( u- \5 e  I; P$ {9 n
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 k6 x& A0 g3 R4 V3 ?' @2 `唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 _7 D8 u& z7 N1 V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # I: F; ^- d  h0 \1 Z" x6 s
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: [0 Z% d* _$ p' k5 j
咁你話d錢蒸發左去邊? ...

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& g. u; ?: Y1 \正係咁樣
( A8 Z' T0 P$ a% p/ R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2 ]* p. U9 y2 f7 i' i6 I7 d
分分鐘佢地唔使還錢$ m: P. R3 H4 M! `# g
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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,
+ q; c! J& c$ w連國家都係問人借, 不停發債券, 印鈔票: P- ?0 l- }6 L  i: F
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 {+ A, R9 e) g5 s% {. P) 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
5 H3 q) d; G- e; f$ v咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! @1 I, M# q1 i因為以前未生產, 先消費1 }$ G8 a0 l  j) h. E' L
而家就要多生產, 少消費