0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 G. [) j! I- ?5 ^4 h" C2 K- p. D" Q
Why bank will sell 借據給第三者???
  l: x" [: z  k, zI was so confused.....

5 D7 H1 o6 u: n: O' I9 z' k2 N4 H" Y
講到尾都係賺錢
! R. N, E$ V1 ?, o5 D8 x- ]8 i0 w2 Wso銀行可以不斷放款
$ y$ F- D% b* |/ ~" E; W美國的房貸問題散佈到全世界5 {" p) a) q% V( c5 q5 q, `1 I
8 `! o. R: V/ ?
mortgage loan
6 V" `2 O! G% f>conduit. C8 C  H/ j7 _2 n% t* q* U
>RMBS(Residential Mortgage Backed Securities)
. j- p# {7 g  Y5 E1 X: M>arranger
4 ?' B2 m$ h* h$ \& L>CDO(Collateralized Debt Obligation)
" \& [& d5 ^4 w: V最後去到投資者

Kev

i thought it is the reason of rate of return.! L4 g% `# L6 m+ F# B
CDs could have different ratings, AAA -> F,
1 p! s+ K) ?0 X, A9 ?7 zmore risky ones would have higher premium (interest rate) as a compensation for an investment.
8 z9 h% g7 v4 ]+ V1 I$ s# Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  ?- k7 D4 G7 v+ h- R6 J
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 B$ K1 L; }8 R3 W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 n* E5 r8 o2 s! V9 [, F% Y$ nsimilar to bonds, CDs trading in the secondary market have different value at different times,. @# d3 M0 T$ l0 d; T3 d
normally the value is calculated by adding it's principle and interest. 7 o8 |. b) H3 W2 S  t
eg. the value of the mortgage+the interests to be recieved in the future. 4 E2 q# X- {* j0 F: B
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.
4 a1 ^. U4 }' ]9 P9 x( @. Z9 j2 R- ~) J4 s+ F
im not quite sure if the multiplier effect does really matter in this case.
( E/ M& M4 a! @+ m7 O' q& hin stock market, it's the demand and supply pushing the price up/downwards.
; W* Y0 `% U( OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# p0 H3 I, d5 ]5 o) P. I
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* c6 U; P& e+ u
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. / q. z" X* Z, ~9 T( W& j
but the value of their assets did really drop significantly.4 U$ C3 e9 r9 Z, T. {0 f

" f  ?& l2 j: q, B8 |9 P[ 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
8 F. o, _- U) {Refer to last example,
% ?; D+ T! S: W" ethat means bank A have no money because we borrow 10 dollars from bank A
4 B' c5 j5 m1 m( Y& PBecause bank A doesnt have enough cash on hand " u, a! M( D9 j9 z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

4 v: M6 f9 ^, R+ n. H7 z3 M0 J

# Y( y+ Y+ \* ?$ J
  h7 H% |- o- M" N: ]A->B->C->D->E. L3 e" B' I+ E
so does it mean if E failed to pay D,
# C' l& |9 {" n$ q, call the B,C,D,E have to go bankrupt?$ I5 n7 N. F: {
* P0 M7 ~: x' ^$ o( Q& ?

  \, b& m; J- ]; gthe multiplier just tell how much money created in a whole economy,
6 k8 z: c$ e! t# y( Jin this case it doesnt really matter how much money is created, ( e3 f( ^1 a" t7 r, _7 `
it's the problem of the debt itself.. I  E5 Z; K2 M; q* v/ P* a
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
; y5 O/ s# g* @8 ~  ^8 C2 ~5 R小弟一直都唔明...
0 i5 ~5 D1 R  }/ A5 v2 |. e# d; u
% v$ o0 G  m: p* `: {全世界都蝕錢，咁邊個賺緊錢呢?1 r7 x" l  m; g9 x; g, s/ k! |

' K- o* `4 ?$ j. h& Q# l8 q無可能淨係有人蝕錢無人賺架嘛...8 K9 v# |% c3 i" ]

( o: Z% R% }1 T3 V- f敬請各師兄解答8 Z5 K, }5 L& n4 o3 e4 Y
2 i% T. f1 o+ p+ J
Thanks

) I: ?$ z1 ]0 t& T3 R那些根本係 紙上財富  
( B8 ^. E, t! |6 a" M6 i* l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: W: }9 i) G- X* W
3 c; g+ W2 N: F# Z; e$ Y7 F  M; y
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
$ k/ B0 x! P/ o2 s1 L/ q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: y' [2 P; Z. 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
1 y& S! D9 T; c2 R個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 z. u1 z1 h7 G4 J2 D; N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 C% V9 K+ \" {' L6 C" f' W* Z
計番回報率就已經係50%,所以可以好好賺
4 _1 w2 E  Q2 J& _0 q前提係銀行之間要互相信任先可以咁樣借法
# X) s4 e. R3 t+ g同埋個市場既前境要係好先得
& U; v3 E/ f' L6 \1 m. c! x  C& w但當經濟一差,公司估值趺了,物價不升反趺- \" e6 T2 s; O) Z+ @; c
例如剛才說10蚊的, 趺到得番9蚊,
% ^  T* s' x9 O$ X咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 C- {2 |% s' a4 F' N0 o
所以你就會覺得D錢好似蒸發哂咁. i2 B/ q3 d: o8 R/ V
2 u+ |, }# @$ K8 u
你都可以當標野咁諗, 個樣野多人可以狂升值, % e3 \+ X* J9 z! X$ R
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, % P/ d% R5 |- u+ j) c9 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   L' X# i# _  I
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 D4 R$ X* g9 v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
( ?" V/ ~0 x8 ], z2 q. M1 J' ?唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- t/ y% L! l/ C1 d0 A1 `5 u( }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : O2 {3 Q1 v+ s/ d; k' I5 Y* Z* \1 r
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6 E& \5 O3 k/ x
咁你話d錢蒸發左去邊? ...

. O& F9 B0 w8 j. \  D) G# t: O) }+ ^3 `* D5 s
正係咁樣
* b5 W2 N0 s" U5 [* Y/ p4 k7 ?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
* l9 v. h$ ?; ?6 u" d9 F' v7 i分分鐘佢地唔使還錢9 @2 Q9 f" l) P- U  ^

1 o" ]; w# J7 r- V3 [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,
$ |4 H1 A' Z! O- J0 w* s7 p( z/ t連國家都係問人借, 不停發債券, 印鈔票
( A; y' ]( {' J' g& W( ]7 ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' X/ o( J- _- J& ^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( z3 M+ S! X  s. y, N
咁而家"爆哂煲"算唔算先至係變番"正常"???

4 _* x5 d: m  H
, i4 M5 W2 r: e& _8 u. q0 L8 X其實係...0 ]+ ?6 [  G  a! A( K. {+ v! r
因為以前未生產, 先消費
8 r7 }- E8 G) N+ _2 O而家就要多生產, 少消費