0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 C$ K: R0 b7 p! W- {7 B0 X
Why bank will sell 借據給第三者???$ y$ N$ z( r+ G" w1 A
I was so confused.....

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講到尾都係賺錢  y) H  J: t% V$ n
so銀行可以不斷放款) a! R% x9 q* ^9 y0 j% Y8 ]
美國的房貸問題散佈到全世界5 a8 f6 H: |: [3 _8 Y

( Y( M& ^! c  i" G; S9 Cmortgage loan ' \) Z8 F4 j. K3 P  \. U! P
>conduit2 f$ ^. w- q4 F* g# Y) X, A8 \- {
>RMBS(Residential Mortgage Backed Securities)
; c& k2 ?; x. n5 x% y! C>arranger
  y( e+ J3 z( A# D7 A>CDO(Collateralized Debt Obligation)! j9 u2 f% B: o& P5 R* `, ~
最後去到投資者

Kev

i thought it is the reason of rate of return.# |" `* W" X9 h: @+ Y
CDs could have different ratings, AAA -> F,
5 N! f$ [3 J/ J5 h  m5 z) _more risky ones would have higher premium (interest rate) as a compensation for an investment.. {; s0 I3 b" |, y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 |" f& X0 H: P/ c* y8 I3 [5 r( [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, q. Z4 N/ H5 L$ w! JAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! O" o0 c2 r6 Z! F: `% q  n( u! `' Qsimilar to bonds, CDs trading in the secondary market have different value at different times,% b. ]& P/ \. }$ n
normally the value is calculated by adding it's principle and interest.
0 Y7 A8 o6 o1 D! i; I9 v. Ueg. the value of the mortgage+the interests to be recieved in the future. : Y: I% {9 B4 L8 y2 j; v! T
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.- ^2 h$ g% P" [+ n- z2 E( y1 [
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im not quite sure if the multiplier effect does really matter in this case.
' b6 E  U# \$ r3 e; w- \( yin stock market, it's the demand and supply pushing the price up/downwards." l/ V8 e( w7 x$ p  a3 @/ M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 m0 c% y6 _' b& r$ c  B  VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; n1 j) s  q; k6 l7 ?4 j0 x- B
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.
" l+ f/ N% B+ h/ x8 ~4 T" F7 ?9 u+ Cbut 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.gif0 s$ |+ R* p: a( a5 d: q4 _0 c
Refer to last example,
* j0 `# q( q2 F0 ithat means bank A have no money because we borrow 10 dollars from bank A ( ]7 w8 u8 o) Q+ `3 C
Because bank A doesnt have enough cash on hand
6 ]7 A8 e. k: z7 J7 z* {, jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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* m# M- m6 L" [. T2 m0 T6 MA->B->C->D->E# X. j  e& c+ N% h
so does it mean if E failed to pay D, & k  n, {4 h$ \1 h' r) H  m
all the B,C,D,E have to go bankrupt?' z3 {$ j# Q3 h

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; h3 h7 n& e; K$ t, [/ ?+ Ithe multiplier just tell how much money created in a whole economy, ; W# j- L; ^) W; x# h0 \2 v8 ]
in this case it doesnt really matter how much money is created, 4 V% ?* G) e8 O3 `+ ~" z
it's the problem of the debt itself.4 U. F" }" ~1 ^: N) }2 i
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" y; }) E+ o" y6 h, Q
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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/ W1 b$ w. _1 R8 Q! [無可能淨係有人蝕錢無人賺架嘛...- R3 k+ x! s' {$ a9 a
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
" s: F/ u, o' t$ G' `1 Y; B2 }9 a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# |4 Y/ V4 o+ G  E. C0 a9 d
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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2 f; `8 j: N9 t7 ^% J7 X
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 B" k3 C& k/ ]! T2 l1 U
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
, X$ o0 [* X/ k: `3 Q: k. {2 O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; a  K' j) u: N4 s
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' n  [6 u' z: ^. q  z% I
計番回報率就已經係50%,所以可以好好賺
- A! u2 {+ l/ n7 v前提係銀行之間要互相信任先可以咁樣借法  z4 G6 Q% |+ N. e
同埋個市場既前境要係好先得0 O% \5 z6 F/ k- E+ q2 T
但當經濟一差,公司估值趺了,物價不升反趺& ~# G. q4 A+ `& Q7 c( n
例如剛才說10蚊的, 趺到得番9蚊,
7 t0 N) {1 K8 u( ~3 R8 I8 i/ S咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) O- M2 d+ w/ r. V
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,
. S7 i& R# ?8 z7 F. P* b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,
1 j% ~) O) E# E  F3 w" E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 p3 ^! c, W6 X. j
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
: S+ |$ W1 J& ?! I  H2 X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
4 e# N5 ?" |* c6 Y唔係d錢蒸發, 而係比美國佬洗晒未來錢, " p) t+ z0 G* }) F- Y# i- j$ O( f* K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 N: [! z7 D9 L" ?9 W2 R; r" F6 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
; Z5 o8 z- b9 J咁你話d錢蒸發左去邊? ...

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正係咁樣( a2 m0 T+ V! E% m. h
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
% K% g1 ~- G9 @3 j! m分分鐘佢地唔使還錢
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- Q! W9 j6 E0 @1 r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,
3 X  @4 S: c( M4 C( z連國家都係問人借, 不停發債券, 印鈔票
& D. S' L1 t# h$ I  b一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 T& {* E  z. ?; O% O8 N7 d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
7 e* z! Y2 l4 Q- A5 |# x咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 S. ^0 z5 D7 [. f其實係...
8 ^9 K2 p" A5 Z0 a. v# a因為以前未生產, 先消費
3 G# w3 h/ S, s! K而家就要多生產, 少消費