0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. [; ^8 {" Q5 `! K7 K
Why bank will sell 借據給第三者???1 u7 X% }  K- u, R& I; T2 ]
I was so confused.....

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講到尾都係賺錢
. O8 ?3 k2 `1 @so銀行可以不斷放款
8 L3 ?, b" y  l- c美國的房貸問題散佈到全世界
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+ h1 K' |$ ?$ c3 omortgage loan 6 H9 ^' y' J( q- \% l- a% B* W
>conduit' g/ c4 `3 I: V1 ?$ [9 ]
>RMBS(Residential Mortgage Backed Securities)# t2 p& P) A7 M# e) L. D
>arranger/ [8 K0 B# ]  s/ s% u  ^) A
>CDO(Collateralized Debt Obligation)
( t: k8 X2 h2 W7 ~  ?5 ~最後去到投資者

Kev

i thought it is the reason of rate of return.
+ ?/ Z. ?) K( c; m3 C$ @9 X2 v# qCDs could have different ratings, AAA -> F,
4 S( B$ ?! B4 X  I* i! A3 h6 Fmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- F2 U$ a+ S4 G1 }( Q' w5 ]5 O( Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, }/ _# [1 ]5 Y( c1 e% q# S
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 v% z/ D3 |3 _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 c9 n! ]; ^. B3 ?; Z0 ]% f+ Q
similar to bonds, CDs trading in the secondary market have different value at different times,7 R. R0 L( H. r/ H+ n
normally the value is calculated by adding it's principle and interest. ( A$ W$ _- h5 i. E6 w2 e; E
eg. the value of the mortgage+the interests to be recieved in the future.
" V- b! ^4 l. B2 b  M& obanks 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.  _7 ?* K  M3 s8 X& o

! _* d9 h) R, Fim not quite sure if the multiplier effect does really matter in this case.6 u( M: P' l4 F% v. t# s
in stock market, it's the demand and supply pushing the price up/downwards.: F' Q1 m+ c* N  Q* k
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) J: i( W; x, A+ L
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. Z4 H, W0 i0 {9 \( p1 Z
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. & u( M& B8 U" m% V# T8 Y1 q0 s6 W. F
but the value of their assets did really drop significantly.: g4 A) S( C- f- f* |/ g/ P+ D- h

6 n0 {* M4 I; U8 v$ T. b[ 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- Z6 _8 `( a7 }' D& k
Refer to last example,
9 x+ E! U* K7 A$ W' a, m) Z" wthat means bank A have no money because we borrow 10 dollars from bank A
' R+ O8 n) G) e+ a8 y3 `$ mBecause bank A doesnt have enough cash on hand
; F( H0 R  t  ^. [+ T! G2 F  Ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E  ^2 Q5 e9 ?" \# g/ {& L
so does it mean if E failed to pay D, * a( r6 T2 Q7 J  J9 a7 u. [
all the B,C,D,E have to go bankrupt?
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" a, b; k, F+ n: x
4 t: p  B5 _' Y- r7 Z8 s. ythe multiplier just tell how much money created in a whole economy,
/ b, y; p8 J- F- P1 a' `in this case it doesnt really matter how much money is created,
, n. D3 D0 c. k( T8 Z' nit's the problem of the debt itself.
( f8 }7 G) Q& P) d3 Y/ gthe 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
0 A) [9 z( d+ F  A/ _' t) ~' l小弟一直都唔明...
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( P8 J- L6 m4 n; i) K全世界都蝕錢，咁邊個賺緊錢呢?- R& C2 Q3 Y7 Q3 B: P, n
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks

7 s& a8 l- Q8 G  Z1 q. f那些根本係 紙上財富  
" K" r; `( ^# D* w8 x( R( 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) \! T5 r! Q  T& @3 c3 k2 M3 X' U

# A" b- r$ _* P- n* [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5 e; M: q" {# _7 W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# o2 V) a+ I. f% B7 W, U& \) |& b
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 B# z! W* ?8 C8 W個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 Q3 S" U: D( z6 z6 N; M) a, i) w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 _4 e1 Z" n5 ]+ }: I計番回報率就已經係50%,所以可以好好賺6 h) T5 |* p/ K6 }; m
前提係銀行之間要互相信任先可以咁樣借法
6 o5 [9 N! _) m* ~3 x2 t同埋個市場既前境要係好先得8 P; E+ L  c( H7 M. }) C, M
但當經濟一差,公司估值趺了,物價不升反趺+ F$ H7 J' x/ \" R, e9 T2 k$ n
例如剛才說10蚊的, 趺到得番9蚊,
/ C5 C7 ^' o! E8 S# y5 ]5 E咁投資銀行一下子就要還11蚊, 一來一回變左虧200%" {, g4 E& l) b# E
所以你就會覺得D錢好似蒸發哂咁
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. r1 N- G$ I) U+ H你都可以當標野咁諗, 個樣野多人可以狂升值,
% y2 G( M' O* z2 }" F9 ]. S, E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, * o% Z! |# M; ]. b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . y9 v2 _1 A( W8 y; Z! N2 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
4 I+ {6 @' _3 Z/ 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 f* Y# v; V7 W
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 D2 v* I4 e7 q( m, x3 V7 Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / ~/ K2 C5 _, k: e2 v5 ^
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 Z5 o" |+ I' T  F9 R7 G
咁你話d錢蒸發左去邊? ...

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0 c2 T$ B3 r/ @% C正係咁樣* Y% m4 A# q3 n: q0 r* C
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$ N( |9 i. m. `$ B9 L8 z  {
分分鐘佢地唔使還錢
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& W( I2 a/ u& g3 R8 s) O2 S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! {7 E8 q8 ?) I6 I
連國家都係問人借, 不停發債券, 印鈔票
1 g7 B2 [  s, O' C( V+ S2 t: \' C' a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 p6 u+ w6 |% a, w( {: v# ?+ z2 h
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# L9 y) y# y* n
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- W; V% \- V6 U; j) c其實係...7 U7 c( S1 K* h" b. p' i$ ?  J
因為以前未生產, 先消費4 [& ?) ~2 \4 p. ^6 F
而家就要多生產, 少消費