0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' A! q) H9 h% m  J6 ]' |
Why bank will sell 借據給第三者???9 J- K1 u3 a" a* {; I% u
I was so confused.....

2 X3 \' ^, r; t- S4 e: G9 @; N1 `
講到尾都係賺錢
$ |4 L# T/ K1 \' Gso銀行可以不斷放款
' F* P; z/ y9 Q美國的房貸問題散佈到全世界4 X8 r  g% d4 w: k
; _6 `7 S( Q# f/ Q* s5 a3 e  N! j$ l
mortgage loan & M! X/ W& l4 w" t- O3 W7 M4 P% }
>conduit
, h, @* S1 L7 ?8 A6 @1 p% b>RMBS(Residential Mortgage Backed Securities)
9 }! H$ h8 T- Q8 s3 F>arranger  i! |1 X3 }" @; Z+ p( m; |
>CDO(Collateralized Debt Obligation)( P  t1 D7 P: r! y1 L$ M
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ G: Y8 x6 Z; |( Y8 \CDs could have different ratings, AAA -> F,
& I( G" [" r/ ?% T# Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
7 r& x8 ?6 H1 O% a. w. a* ^main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, ~- o! R1 @, a" I
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* ~1 H, x- V4 S4 z* m6 Y0 Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* S+ A8 W( B8 o& [
similar to bonds, CDs trading in the secondary market have different value at different times,
. z, I/ L1 t2 Cnormally the value is calculated by adding it's principle and interest.
9 Z- I/ K4 Q7 _9 leg. the value of the mortgage+the interests to be recieved in the future. ( |: `/ z& _1 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., _% _# u6 ^" h  f! e, K

& V! c; t5 v' m% vim not quite sure if the multiplier effect does really matter in this case.
( V6 _; L, T# w" i+ y% S$ A; din stock market, it's the demand and supply pushing the price up/downwards.  O! F2 p5 F- G+ D4 v  Y* F, d/ N
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 a4 B) t. f& B6 OA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 c1 p* f) O, Z9 ~$ R, `: [: ]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. # G8 z7 b# I5 o5 b6 a0 L
but the value of their assets did really drop significantly.- s7 h, k5 ~2 I* F. L
$ d  ^9 S6 K; ?. ]: d
[ 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
# T8 [0 p( X5 L( `$ eRefer to last example,
8 Y/ H  l- s( {; A: ethat means bank A have no money because we borrow 10 dollars from bank A ) m( k! ^" o1 C: @% y. M0 U
Because bank A doesnt have enough cash on hand : p4 B  Q1 [- [/ g0 t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

: U8 k0 a! i; q3 H3 {6 v0 O
  @. M4 w2 |+ K1 t1 B* l* Z4 z3 S% |( y

: i8 C5 C; L0 o; NA->B->C->D->E+ K& r2 K$ K" Q
so does it mean if E failed to pay D,
# _, I+ l- r7 W1 B9 i; Lall the B,C,D,E have to go bankrupt?0 \2 K. e( G" m5 F  Z# g

8 {' n5 _, j" I" g1 p
& l- P* i) G! S( i# n( |, W2 t' D4 y1 Dthe multiplier just tell how much money created in a whole economy,
9 r! P$ {' R; J+ C* _in this case it doesnt really matter how much money is created,
2 s9 W- G) Q, Eit's the problem of the debt itself.6 g  t; [+ R, c# R$ R5 T# f- h, ?4 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
5 L2 R0 f+ A. ]  f7 O小弟一直都唔明...7 w* f' }/ g6 Z5 S5 W6 g

6 k  `4 _- z1 q/ P  O全世界都蝕錢，咁邊個賺緊錢呢?
3 N5 B$ A' h0 r
8 ~3 T. T6 F$ W, ~8 }無可能淨係有人蝕錢無人賺架嘛...
3 P7 D# {8 K* x8 P3 C
: I+ u# y/ x  T& B+ J敬請各師兄解答4 S8 ^3 U  D! r; V' o

$ ?5 V4 S+ L, o/ M5 q' }- Y4 ?Thanks

" f# Z7 u0 `- M% s& V  z" x: J% \
那些根本係 紙上財富  
9 F3 ~( b8 O. G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
- O# a2 b/ R) S* @, u, h% Q% ^$ j* r
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
* R# \  }/ p: Z1 a* k當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( @9 N! {$ R' [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7 L0 S1 H/ e- \. I; D) Q9 p0 T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* A% z4 @' j  e$ u& [" K' J扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 G! [5 h* R+ _& ]
計番回報率就已經係50%,所以可以好好賺" h' F; c, C: g0 M
前提係銀行之間要互相信任先可以咁樣借法
6 g8 G; P& s4 R0 O# @同埋個市場既前境要係好先得: k( |( y0 x3 M, @$ |. {. [5 H7 Z
但當經濟一差,公司估值趺了,物價不升反趺
! V8 q+ H) Z- z' a* r; F$ V例如剛才說10蚊的, 趺到得番9蚊,
0 z0 |% i# w6 W5 [0 j8 T& C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; ?& t- p) k+ y. Q# N3 ^2 k所以你就會覺得D錢好似蒸發哂咁
0 J" n/ K$ u) R% r$ [2 D0 Q) W; @: C9 `9 J
你都可以當標野咁諗, 個樣野多人可以狂升值,
- G+ U% H: g  A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,
. T7 b) Q, ^: Z$ l6 m3 n( H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & |/ Q# j3 G4 t, D# ~" Z+ `0 a
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. t1 ^! O" Q6 g' H% e4 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.gif4 T& ^# t- k3 r; e: B% Y! j- ?* j
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ) S; M( r$ s6 O  o8 u. F! d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 l6 J1 C6 L3 L* K5 }
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 n9 r6 m6 k( P  P) J- d, Z
咁你話d錢蒸發左去邊? ...

0 X- m" g4 P  b$ ?. x3 m% l" D

3 V1 Y* T4 c; N6 _5 P" d正係咁樣! J$ I$ X2 ]# f  b4 \. K; B
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
  L4 u3 C; ]. W6 w: [/ n- `分分鐘佢地唔使還錢
* f- n& [6 ^, f, w2 \" g1 n- d& Y
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,
& V9 y4 U0 |1 l, T" \連國家都係問人借, 不停發債券, 印鈔票
$ C- n8 _/ _1 B" H4 T一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; m* z7 R# c; L' S4 q# N% w1 |6 W+ I
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.gif8 S+ W3 {+ V5 u
咁而家"爆哂煲"算唔算先至係變番"正常"???

- @# O( h/ i. \' o; {! E% h, C5 o: Z0 |
其實係...
$ u: ]3 Y3 I! ~. i2 Q$ o& N因為以前未生產, 先消費
6 d) [3 |. A! }7 W而家就要多生產, 少消費