0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif, K% N+ Z& \, m. x7 N' t/ _
Why bank will sell 借據給第三者???
5 o6 y$ G9 s* BI was so confused.....

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( m- C7 G' }* J0 d+ y5 E# s講到尾都係賺錢5 @' f  |" i" a- }4 f  A
so銀行可以不斷放款  Y6 U* @2 V9 j8 {) o! [  r4 [
美國的房貸問題散佈到全世界2 Z! y3 E$ \+ z/ J
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
5 D8 ~9 U, o5 Q+ e5 e" F>arranger
. q2 |' Q$ O3 `. Y$ R' ?# L" Q9 j7 ]- Y>CDO(Collateralized Debt Obligation): ^  r) P/ ]: L* }
最後去到投資者

Kev

i thought it is the reason of rate of return.9 p8 |% K# s0 U* w5 h6 n
CDs could have different ratings, AAA -> F,
/ B$ b2 F, L3 n! ?1 zmore risky ones would have higher premium (interest rate) as a compensation for an investment.# W( g7 ^  L4 N/ E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 R; A; `2 M5 ]in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. [' h1 u; {# ?+ M) PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' _+ D. e8 ^0 U2 M; o! v6 R9 l' j
similar to bonds, CDs trading in the secondary market have different value at different times,
! F- }8 q' I- q( q6 I5 ]! v& m# U5 Knormally the value is calculated by adding it's principle and interest.
4 [& N+ o- b, k: neg. the value of the mortgage+the interests to be recieved in the future. " T# o5 C: W9 Z) j. A5 w; d, @
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.3 U0 Z3 b, C7 c5 T

; N% C/ o" t" A+ pim not quite sure if the multiplier effect does really matter in this case.
! l& P/ J3 d3 V# G% E. N) s1 y2 \in stock market, it's the demand and supply pushing the price up/downwards.! J, Y0 x7 x( v8 u+ j9 n7 j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) X  ?" N9 P& gA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) R0 M( X1 e9 Y: ~" D2 k3 LThe 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.
, }( P; N% @# @% sbut the value of their assets did really drop significantly.
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: z% |7 g1 r0 q" H[ 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% j$ r; T# L! R8 F) S8 \
Refer to last example,3 H$ F2 ^3 e3 Y& P# O
that means bank A have no money because we borrow 10 dollars from bank A , S& p8 T# E0 \- k0 [* h  w( Z
Because bank A doesnt have enough cash on hand , `. v4 `2 H( r; A# Q7 F5 Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  t! g6 E9 P/ `1 i6 E" |A->B->C->D->E: @& W( V. _- m% y5 J
so does it mean if E failed to pay D,
  }+ S2 D: L! `; R4 t5 \all the B,C,D,E have to go bankrupt?* D" j4 {% x% [

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- J9 z" a4 q4 \2 f& T) \& kthe multiplier just tell how much money created in a whole economy,
2 M1 Z& t% y9 yin this case it doesnt really matter how much money is created,
5 X/ j* k7 |; Q2 I7 j9 u7 Sit's the problem of the debt itself.* G; H! k' X; S4 U- {6 {) Y9 R" G
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.gif1 h  ^2 l) ]+ K* d
小弟一直都唔明...
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: ~. x  n  c3 F6 S$ E$ S& M1 @全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...0 y3 H% E$ B' x9 p( I

; F$ p6 M5 k: n6 _6 |敬請各師兄解答$ b. W1 U& Z* P# g0 w9 U: z

& Y+ G8 u! L% d2 k- ?/ EThanks

: r. F6 z" W* i4 i$ j那些根本係 紙上財富    X+ a$ m2 ^+ `/ m# |: X8 s4 v) Y
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 graphic0 r/ B: t9 [* I) i
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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8 }) F' U% ^/ n& o
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 I3 `. ?7 [/ k  {
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/ _/ F! Q" n3 W* R5 n
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 j2 |1 Z& e$ d* z8 ]扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 o' N) a1 H0 b  O- U0 T計番回報率就已經係50%,所以可以好好賺
, j% o$ B! T# K0 n- Q  i前提係銀行之間要互相信任先可以咁樣借法8 y( h2 w( n- z7 F8 A. G
同埋個市場既前境要係好先得
8 }* x$ M$ l/ k, _但當經濟一差,公司估值趺了,物價不升反趺6 _. R: _# K: a7 x, O: I! n1 G, }- u
例如剛才說10蚊的, 趺到得番9蚊, 5 K. B& x# \/ a2 I' R, W/ s3 D
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 }; T7 j% C/ ]; q3 o; q所以你就會覺得D錢好似蒸發哂咁3 Z# o4 N, ^& p: f0 z  j) e
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你都可以當標野咁諗, 個樣野多人可以狂升值, " r7 R3 A( z6 E' f
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, , w' G( `" ~8 z- H, M5 f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 g, }# j$ y1 i4 P. x6 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5 a" I" l4 X2 B! O4 Y- U* p4 t
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 c4 v) w" A8 A& E
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + W( Z% t' D/ _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ {" h7 A. x: I3 `/ O4 ^* n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1 F$ L' \: d% ^3 P( ]! @+ W
咁你話d錢蒸發左去邊? ...

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正係咁樣  ^7 X5 }/ j# M  w( _
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
1 f) `7 `5 d9 K' A分分鐘佢地唔使還錢2 @2 r- [" g/ ~  F0 ]$ b" ~' @/ s
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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,
) u, Q* ]# ^. w連國家都係問人借, 不停發債券, 印鈔票3 d% f% y) h' @2 |( L- x) t
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) e" K! u, T2 }$ Z
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
  S7 D, S4 h) |) K& k- I" k咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 U* r) T! B, j其實係...2 l2 _. {; [# j1 k! V
因為以前未生產, 先消費
% P- Q2 O' [/ v1 I/ ~而家就要多生產, 少消費