0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# }1 t8 x1 v. z/ q/ V
Why bank will sell 借據給第三者???
) v6 A2 m5 e( ]5 o# [' n2 B* E3 nI was so confused.....

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2 [. S; ]3 e( @, L講到尾都係賺錢
4 ]& q" ^4 A" V# _6 [( Cso銀行可以不斷放款! q7 N& X# w( {% u* u0 U
美國的房貸問題散佈到全世界
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9 A' b! U. i! t' W& E7 s% z. `% Lmortgage loan , y  T' \5 @  V
>conduit" q6 J% G0 ~/ U" t1 T
>RMBS(Residential Mortgage Backed Securities). v- @4 e2 `) p7 O+ N
>arranger& n; r+ I# j3 L& l
>CDO(Collateralized Debt Obligation)/ X3 Q4 G2 o% Z1 Y: h, j6 D
最後去到投資者

Kev

i thought it is the reason of rate of return.
! q3 Z2 L* d$ O. I) qCDs could have different ratings, AAA -> F,4 W8 T8 s. j- `3 l
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ k4 f; {7 \( [: K8 {; c$ X) }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 z4 y7 q2 {1 V; e! q! l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 d0 E4 x' ~5 L" B" f7 E
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- p- W% P0 t! ?+ [/ h
similar to bonds, CDs trading in the secondary market have different value at different times,
9 s4 I7 y# d" x/ `3 Pnormally the value is calculated by adding it's principle and interest.
$ |# Z, `3 J9 z7 E' y: c% _eg. the value of the mortgage+the interests to be recieved in the future.
5 a3 j2 S; ]/ N/ a* _2 gbanks 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.$ ^9 v% I* M0 R% s
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im not quite sure if the multiplier effect does really matter in this case." G* {( a5 j$ e8 J
in stock market, it's the demand and supply pushing the price up/downwards.
- [1 Q+ r, b  H9 a4 ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 `6 L) Z/ z. P" g9 X9 w; z; r& U: B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# J- K* J) ^( X3 B4 l4 E6 [+ B4 A2 Q/ n" MThe 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# B4 c7 U  K, ~$ v  _but the value of their assets did really drop significantly.1 i5 }! z8 n; G* v9 {

: L7 J" f' T9 y% x7 ~) k4 U[ 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* r6 z$ S* ?( r1 K4 H4 i0 Y7 r
Refer to last example,7 W% P5 i2 w  U3 r( M4 Y. {$ z: K* n
that means bank A have no money because we borrow 10 dollars from bank A , E! E: p- K( J& ]" Q) i* }
Because bank A doesnt have enough cash on hand
) t4 `$ h- n2 I7 |4 V3 {+ P- n# qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E: ]) ~( C. j. `6 i! e5 {
so does it mean if E failed to pay D, 9 w3 M7 `6 ^) R, n  Z0 D
all the B,C,D,E have to go bankrupt?) v% X  l5 O( M! h6 K9 {4 g+ o

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the multiplier just tell how much money created in a whole economy,
% @9 s& k  @8 _) D$ nin this case it doesnt really matter how much money is created, 7 d% |5 I) j  {; A4 U) T# }4 m
it's the problem of the debt itself.
" a& d/ b: z4 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
1 k) C9 q' y0 o" W+ k小弟一直都唔明...+ j: u" `3 m+ [. b+ }- x2 b5 I
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全世界都蝕錢，咁邊個賺緊錢呢?% V5 [7 }3 w" I2 O: ]) z, p

, `' D& x! y  M4 U$ a! d' U無可能淨係有人蝕錢無人賺架嘛...! m7 U  [# I2 g7 b# p

) p7 _. f8 F$ e, G  l2 s敬請各師兄解答
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) I8 {4 _" c! T8 m/ JThanks

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那些根本係 紙上財富  
7 O5 ^0 P0 u* j# |6 t* r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+ E1 }# I) ?- h

6 A5 Y0 W  q5 _/ k$ s" phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. s. B2 t: C, W( E% }6 S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  _* z$ q/ |$ W0 a; J" f+ q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
5 k5 L) g: W  B1 a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* T$ W) ?) D* l) S+ x
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 A* X$ a' t( ~' }. H# N) k
計番回報率就已經係50%,所以可以好好賺
# f( o4 b; P+ x8 }* i& d前提係銀行之間要互相信任先可以咁樣借法
' i- W! J; m- a* C; C* a1 y同埋個市場既前境要係好先得- M  q* u9 ^7 _5 [9 @' \
但當經濟一差,公司估值趺了,物價不升反趺7 G2 I0 t: A9 d5 e- v2 J) f4 Z, J
例如剛才說10蚊的, 趺到得番9蚊,
% z) y- M6 }( C1 s4 P9 O( @3 _! ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 `" t( t: y1 b; v8 x0 q/ b7 f) \
所以你就會覺得D錢好似蒸發哂咁3 Q; n& K% R9 b/ }) v

2 f5 v& ^. i+ D0 S你都可以當標野咁諗, 個樣野多人可以狂升值,   M) T5 y3 w1 B+ t; 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, ) y' h$ X4 ?  J! w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) K5 A3 u0 Z7 E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
' `& O% Y& S% X; C; Z7 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.gif8 K# h, Q) j, k5 R4 }5 ~7 m
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# o3 S! ?( J+ i' G5 V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, c' B+ y- E# b5 w# ?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
4 L! \3 e( R3 T% I. o$ ?$ A5 Q2 j" o咁你話d錢蒸發左去邊? ...

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2 |! W. O! p4 `* l7 w正係咁樣
9 |% L* J" V7 o' a" C' l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6 t. U$ A  I- _0 }7 N
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,
; O) _& }2 C# S0 c% w連國家都係問人借, 不停發債券, 印鈔票3 @" D8 N6 l) @9 {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產& R: Y% m  u/ K! e3 b; ?) 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
3 ~: U" |) O  `  S6 e咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
0 B, u. {2 e  g# j% j4 m因為以前未生產, 先消費2 L6 M7 H; v! b" F. z
而家就要多生產, 少消費