0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 \, C7 n$ j8 iWhy bank will sell 借據給第三者???7 G5 H* d/ P6 p' @1 X5 d
I was so confused.....

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講到尾都係賺錢+ \; t+ p" d# C+ H
so銀行可以不斷放款
2 V; F; _  [* J0 _  d美國的房貸問題散佈到全世界3 j8 s+ y$ x8 D* v: K! k" b

3 c0 A% Q7 s6 pmortgage loan
5 T0 E/ N& {$ L( {3 _>conduit
; i4 N% y( Q, z" L>RMBS(Residential Mortgage Backed Securities)
& v9 R; S; B: O% M2 n: h>arranger, v' P3 o' d/ {7 S
>CDO(Collateralized Debt Obligation)
3 w' c/ S/ E) E: L最後去到投資者

Kev

i thought it is the reason of rate of return.+ N$ n: y) b6 ]+ P" M
CDs could have different ratings, AAA -> F,) f4 H0 P: F- s; m, y
more risky ones would have higher premium (interest rate) as a compensation for an investment.) ?8 n) M0 S3 c! g& Y% g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" U) L+ ?9 @% R5 S7 R' \% H. ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! G/ L9 `8 |8 oAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ S# H6 ?4 u* Z  q9 n
similar to bonds, CDs trading in the secondary market have different value at different times,! q: Y; x6 k" L) m. G+ B! u. Y  ]) p: i
normally the value is calculated by adding it's principle and interest. $ K( ]6 |: _1 X
eg. the value of the mortgage+the interests to be recieved in the future. " q7 }# F% e+ P( U5 n4 l& G- Z. u! W
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.+ [, \% G9 \1 E) i& g3 a
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im not quite sure if the multiplier effect does really matter in this case.
1 z' p6 G! o% [7 {  Pin stock market, it's the demand and supply pushing the price up/downwards.$ X' P5 V0 }; n" q: u  l' U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" E& q: l& u. r3 p9 N3 |/ lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# U& z, p  A5 e5 a" a) \3 J1 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. / m# _. F# ?( Y0 z4 v- R) J; I7 T
but the value of their assets did really drop significantly.& I+ E! v* ^! ?0 Z" w) \' q

( `" @" M; N4 B8 ^& e* w; W[ 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# ]6 ~4 |) u1 P$ m2 o% S
Refer to last example," o- B5 I% t% B  s3 H. ^( H8 F8 J8 H( m
that means bank A have no money because we borrow 10 dollars from bank A
' K- \9 E4 H  ^Because bank A doesnt have enough cash on hand
( }1 E1 b. Z  Z, b/ Y! T: ]' U3 B& Vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
0 s5 x" Z/ |) u$ k: E: p  Zso does it mean if E failed to pay D,
( v% a1 F4 t6 e3 [) xall the B,C,D,E have to go bankrupt?3 C# F$ B' f, x  z8 k
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the multiplier just tell how much money created in a whole economy, ! H$ F- K- P+ ]4 A1 U
in this case it doesnt really matter how much money is created,
9 @2 C6 n3 N7 Q# |6 Sit's the problem of the debt itself.) ]3 R  I/ E6 S6 |. h8 @
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
* E& {, `$ U! ~% S) G( V& b小弟一直都唔明...7 M) \/ y: X7 F1 _% H
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全世界都蝕錢，咁邊個賺緊錢呢?& k3 i# @5 G( s/ ]: x
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無可能淨係有人蝕錢無人賺架嘛...& l3 w, a) z( {9 G$ Q
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敬請各師兄解答
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Thanks

4 |! F  v! x+ y/ |& Y9 r( W9 L那些根本係 紙上財富  
* `5 M! u5 |# u: ?% B/ A6 X! `- g' s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
( `9 }/ {! s% b& x; m8 r) o1 [當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: f5 X2 a8 F0 G4 B5 H* H5 w- z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 N( B9 A1 }7 \" d/ c4 Z! A& C個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# \0 b$ ]5 M0 E/ J; y3 T扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 H) Y7 |" c: f( P+ F
計番回報率就已經係50%,所以可以好好賺, M! z8 R/ j: E& b# y2 s5 B
前提係銀行之間要互相信任先可以咁樣借法
! B" c7 F* B0 y同埋個市場既前境要係好先得) h: q+ }2 ^+ \) E; q0 l
但當經濟一差,公司估值趺了,物價不升反趺  U0 M2 B) c5 |6 M. _/ h5 v
例如剛才說10蚊的, 趺到得番9蚊, 5 z( G1 F- I4 ~5 `3 R9 P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* S) W/ S3 G' E, z8 d  w
所以你就會覺得D錢好似蒸發哂咁
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! z. z7 Y1 a  _. c- M$ j# g6 I你都可以當標野咁諗, 個樣野多人可以狂升值, / E+ ?. L' M, h0 }9 E! 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, # ^9 v- f0 f& Z! J% s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ f6 B) J3 K. f7 i' p: I- Z2 Y7 A. V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
, v6 X! W" w' E& ^7 b8 f4 J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.gif2 _5 F2 x, X; }8 Q, c7 w
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + Q% `( g! D" Z: K+ @; h8 K2 w6 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: X* S* z4 o  E4 M0 X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5 n3 U- k( F) U$ K
咁你話d錢蒸發左去邊? ...

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正係咁樣+ g  }3 L$ L! D" m8 V
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
: i3 \+ D5 W. W+ \分分鐘佢地唔使還錢
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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,( l; d* g$ B! _6 Q& p% a- R& C
連國家都係問人借, 不停發債券, 印鈔票, C- C! R8 p; z) m+ w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 \5 Q* G3 f: h3 m9 n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( Y1 B( _% t" ^7 ~
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; o- Y3 u/ ?- Q7 }. j, O0 y其實係...% {* M! P0 t  P% W
因為以前未生產, 先消費
# w( X* l7 h/ j% W8 h而家就要多生產, 少消費