0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 G# Z& S& b& ^
Why bank will sell 借據給第三者???
1 G5 n& U& _7 ?! ?. N  }I was so confused.....

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講到尾都係賺錢
* Q+ p5 K/ j( S! \: J5 oso銀行可以不斷放款
7 L5 u1 k! p, s5 P- M/ |美國的房貸問題散佈到全世界# U. p/ Y' c% S+ }& K$ {4 F# _1 v

: g! g% V  A3 n# t! q: ]mortgage loan
9 f3 i7 g$ n$ f; w7 z' [, a- f  g>conduit
) Z( F9 r; z- w$ w1 L; B: O* ?>RMBS(Residential Mortgage Backed Securities)  f. h* m, ~5 S
>arranger, G/ X) o9 z& `( o5 j6 X" Y- P
>CDO(Collateralized Debt Obligation)8 h/ |* Q2 R' O! l2 W: [& u  q8 l
最後去到投資者

Kev

i thought it is the reason of rate of return.7 a& d3 Z3 S# e
CDs could have different ratings, AAA -> F,/ N( ^: `, H" e3 g: `* r$ c- P
more risky ones would have higher premium (interest rate) as a compensation for an investment., d2 u" k8 @7 `8 M( N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. W) s( E& g7 a* ?3 {
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  S  l& m  A$ d0 _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., _; S( o( v! T. Z" n  b" c
similar to bonds, CDs trading in the secondary market have different value at different times," e! T& i* Y6 T
normally the value is calculated by adding it's principle and interest. : j9 K( K, A* z% Z
eg. the value of the mortgage+the interests to be recieved in the future. 0 |! J; f. o" G2 \4 \, g7 r$ M
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.# [; b' `: E8 V7 ^/ G( l6 ^

3 F8 N+ F5 Z5 f" M: D" F- {* {2 mim not quite sure if the multiplier effect does really matter in this case., J3 K4 ^3 _: Z( Y8 p
in stock market, it's the demand and supply pushing the price up/downwards.
7 \  u5 E1 C( {0 z( o7 UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 J3 I7 |2 L8 P* h& F, x/ R' D
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: p3 z2 w' K( j
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.
4 b. q3 H8 ?9 e! n) @' Y8 Qbut the value of their assets did really drop significantly.. _) _) O; E+ i: g
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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.gif7 I9 {& B' l4 B: S* S
Refer to last example,# Q5 p2 A  L% _8 l3 T
that means bank A have no money because we borrow 10 dollars from bank A
  h* c# Z; c5 kBecause bank A doesnt have enough cash on hand
+ `- ^! a+ e- K7 ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  V# B, G0 f7 }$ d4 ^
A->B->C->D->E
2 H( J" n. G4 W2 g! `so does it mean if E failed to pay D,
- T+ l, Z! z4 ^/ X0 V5 @all the B,C,D,E have to go bankrupt?
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% f+ r1 J2 x( `! e3 y# W
the multiplier just tell how much money created in a whole economy,
# l8 O+ E( s' u; p, k2 Nin this case it doesnt really matter how much money is created, % {& j, |% Z4 f5 H3 U9 Q
it's the problem of the debt itself.8 K2 O% P# `  [
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
9 {1 a6 w5 R3 S" d$ f& q+ |1 Y小弟一直都唔明...$ h" C2 |! G4 B
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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...# C* v2 y' E: c& f% ]
+ ^5 P# d8 y. }# z1 B
敬請各師兄解答( R# Z" ]. i+ ~5 K

+ i8 s( H( m$ PThanks

* U) n% y2 t4 S( i4 f- P那些根本係 紙上財富  2 L2 l# B8 {: B( j/ s( d* |
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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& F5 A/ f, k, [! |9 ?. K. D" r6 ghttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
" R; S; G, }& i: g! w  }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, v1 |6 q- q4 U" u' x9 G, v
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$ |3 \4 X$ m, u) @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% J: _3 ]0 U/ b6 L$ H
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ u- z. w0 ^2 G( {
計番回報率就已經係50%,所以可以好好賺
& O0 l3 L0 O' K$ R& k前提係銀行之間要互相信任先可以咁樣借法3 s0 K( r4 ]; `: g' o9 Y
同埋個市場既前境要係好先得
, P( m" x7 L' q$ f3 ?! M, r2 e6 m但當經濟一差,公司估值趺了,物價不升反趺2 c* p: s  n1 e
例如剛才說10蚊的, 趺到得番9蚊, 5 s  u, g/ C% `# o& r
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- T6 D6 v  s  Z; u' k
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, / j- S! y, R* k# @/ \9 p- O+ 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,
! _' \6 p8 {  O0 E8 d, C! K淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , b" a8 M- u* p7 }4 \6 q, ?
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3 @3 J6 h% V( E/ d8 y. V  I& F
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.gif3 ]6 }3 l5 I+ Y  Q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . B% L* h3 I6 R) V4 _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ f) ^9 U/ Q$ D% {6 S3 \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 C: {! V/ [- u咁你話d錢蒸發左去邊? ...

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正係咁樣- d" K4 X. S% q/ S
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
' P6 b7 R2 m* M  M分分鐘佢地唔使還錢/ W* t1 y2 c, }6 Q& A

/ M( c- i" m9 S% Q+ M1 L$ v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,0 p1 ]3 u, y( i- f8 r9 y" o. o; |
連國家都係問人借, 不停發債券, 印鈔票* k7 a4 A& F) M+ O% ~* }2 E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) l% z0 ?7 g3 S9 W
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; G9 X5 h4 e: a: I- g3 O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ t3 s; t8 b! e/ {其實係...5 Q6 A; D7 A5 _( B8 X
因為以前未生產, 先消費% C! f" {! c* V' W  l
而家就要多生產, 少消費