0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. L) B6 {+ L4 c% m
Why bank will sell 借據給第三者???
$ J8 O' V" ~! K- rI was so confused.....

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講到尾都係賺錢
" R+ l9 t  X$ I5 k+ kso銀行可以不斷放款
$ x7 I& C$ Q: J美國的房貸問題散佈到全世界
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mortgage loan + k: s6 y) L9 u+ e
>conduit
  O3 {% V, N1 P& V>RMBS(Residential Mortgage Backed Securities)
# L, ^. ^, u4 g) s! W5 j. d>arranger
& K; x* }+ p3 }& \5 Q6 H2 T2 |>CDO(Collateralized Debt Obligation)
2 ]' e& N% L1 r# y  C* v# H1 `4 ?最後去到投資者

Kev

i thought it is the reason of rate of return.
* @: A0 ~; `. u/ R" J6 i2 GCDs could have different ratings, AAA -> F,
! a4 u0 ~& o! q$ cmore risky ones would have higher premium (interest rate) as a compensation for an investment.
" @% k5 J0 j1 n$ jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: Z7 J, z) e- T2 R8 T7 |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* S- m$ ^  @' C7 `* W* P* i* t4 N- ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' X" i8 `7 v9 |# G2 l6 Y
similar to bonds, CDs trading in the secondary market have different value at different times,$ F9 B- V3 G5 s9 |
normally the value is calculated by adding it's principle and interest. 0 R1 p: U4 V2 e
eg. the value of the mortgage+the interests to be recieved in the future.   J# H# E. M! Z. J
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.
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im not quite sure if the multiplier effect does really matter in this case.+ X6 w8 K/ G2 Y: J' g$ _
in stock market, it's the demand and supply pushing the price up/downwards.
8 e' e; ]/ d% _& W. u, q$ NFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- L  h  W% E3 B/ m7 d9 b4 _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% y* W4 ^, J4 `7 u1 Z9 Z" j. pThe 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. . c# f) }& H/ |/ h
but 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.gif
" ?( t7 S0 X4 WRefer to last example,
: p6 W( F" P1 h0 o: y" y+ D4 F3 x) Jthat means bank A have no money because we borrow 10 dollars from bank A 8 c- P! Z) M2 l/ R+ a+ k1 ]1 n
Because bank A doesnt have enough cash on hand
3 e  {4 T9 }, p: Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 A# H+ ~3 G0 ~) Y7 d4 `! l: `A->B->C->D->E4 U7 m2 m+ _. Z* g- q
so does it mean if E failed to pay D, ; D# K' T. b( g. j! \7 X" T
all the B,C,D,E have to go bankrupt?
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+ g9 f  I, p5 w) Hthe multiplier just tell how much money created in a whole economy,
) w$ I- N3 ]( j" \% p# j8 q- Zin this case it doesnt really matter how much money is created,
$ l. t8 \6 ^. n% |, |. \7 l/ Z- Ait's the problem of the debt itself.1 p$ K3 i/ p/ s' B& W: s
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
) j4 G- K$ [6 K* h5 P; o. r小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?8 a& ~: M8 T/ x- E

3 X% R5 v  M" ]1 Q% `無可能淨係有人蝕錢無人賺架嘛...
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6 J+ x. ^" ]2 g8 j敬請各師兄解答
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4 I9 Z  m$ p) ~' h+ KThanks

- |/ U4 M  k# E那些根本係 紙上財富  9 p, x$ N: L, p" ~
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
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( B9 \: s4 e; ]* \- w; Rhttp://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( m/ T) g7 r. g7 j9 w! f
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ _' C  Z! O% M" j+ |8 v. v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' a) ^6 ^0 m% z- r  Z1 ?. d, I; N2 ~, A1 D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* I. L' }" O) ?# h% l3 s6 ^+ V3 S
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( ^/ q2 o/ H* l' y9 @  g
計番回報率就已經係50%,所以可以好好賺
) x) u# ?# e: u1 @3 O2 y前提係銀行之間要互相信任先可以咁樣借法/ }# G  C/ X0 k2 J
同埋個市場既前境要係好先得
- q+ O. Z5 O* f, }但當經濟一差,公司估值趺了,物價不升反趺6 z& r1 A  u+ P0 E
例如剛才說10蚊的, 趺到得番9蚊, , S0 I# ]& p% Z! O
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 ~5 o' G0 i- K' u/ K" E- c
所以你就會覺得D錢好似蒸發哂咁
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6 F  q( n! J) n0 ?7 n你都可以當標野咁諗, 個樣野多人可以狂升值, . p; l# c, z, N' l6 }9 V% x
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,
4 Y* u& h& V" m! H- i2 {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# z& u& D. K  Q5 L9 Z, G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. E4 }' j4 i, ^3 t- ?! p% K& C" c6 D
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.gif7 n3 X. E2 {9 C0 m) ^1 |
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - j9 C2 O9 n% u( |/ |: v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " z6 p) K) r, K" D* Z  v" Z
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3 q5 m* ?7 {% T/ ^# a% z
咁你話d錢蒸發左去邊? ...

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5 ]% ~& K0 h- @' L' t' e) T正係咁樣* z5 g* z' U, b+ G2 u' 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, ]% D' l6 ~- J/ Z# X4 u$ V; h+ V3 F
分分鐘佢地唔使還錢  p" g8 K/ N6 a8 j' T3 f* Z3 z) v

# t8 z1 G+ I1 U: 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,, ]# ?& l: K( l7 h! Q$ Z, Q7 r: N
連國家都係問人借, 不停發債券, 印鈔票+ E- z- R2 M9 A* x# Q3 L1 E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 `3 Z1 I) }& P" E: V% M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' S, f. n) x3 B. O! B
咁而家"爆哂煲"算唔算先至係變番"正常"???

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" X% \4 x0 d* `0 g) P3 T其實係...
/ ^- M& ^) K* L" Y/ \& }因為以前未生產, 先消費% E! {: {' N3 t9 O
而家就要多生產, 少消費