0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; _" |  g4 B: J/ h, b$ s" g( @
Why bank will sell 借據給第三者???/ g; e8 h- k" t) G; m. Q5 Y
I was so confused.....

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4 v1 k; W6 q. G% r5 ?! F' q- ~* \5 t講到尾都係賺錢
, O4 W. k3 X5 c4 M/ q1 f# iso銀行可以不斷放款
+ w0 R  w& I: X美國的房貸問題散佈到全世界1 u; R, @( d9 c; f8 Z$ g3 C4 Z: _
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mortgage loan / q* s7 f. N/ S; ~+ u. p  j( {9 v1 a
>conduit
( {7 C* u9 ]+ y" n>RMBS(Residential Mortgage Backed Securities)
5 t) B$ g' I; ~! Y; C- S, K>arranger
, T! W5 r% j& x2 }% }>CDO(Collateralized Debt Obligation)5 W- {1 v' a0 V1 l( I0 u+ d
最後去到投資者

Kev

i thought it is the reason of rate of return.9 x3 V2 {8 {9 N$ t+ [
CDs could have different ratings, AAA -> F,
$ [: ]# }: x! F: n' T/ Dmore risky ones would have higher premium (interest rate) as a compensation for an investment.: [+ O7 a9 Z6 E% b
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& O: A  v2 P, @! F! kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' Z3 [4 K* P0 ?: l" s! C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ B& P  T9 F! K- g* wsimilar to bonds, CDs trading in the secondary market have different value at different times,
7 \0 z& w3 {8 `! P/ m5 Tnormally the value is calculated by adding it's principle and interest. 8 V+ G9 _' {  M+ N6 ?2 p
eg. the value of the mortgage+the interests to be recieved in the future.
# @- |% i# k! T; x6 }1 }7 v6 {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.* l, H7 @" F% ?( S4 o

( v1 J2 ^  O% l7 uim not quite sure if the multiplier effect does really matter in this case.
; k5 F2 \% T4 o2 ?! zin stock market, it's the demand and supply pushing the price up/downwards.; ^2 j9 t: c: l" @
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; u" t  l! @" I4 }% {: KA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 q, i$ w' X5 l" i& N  ?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. 7 f2 ]# r; N3 P: Q
but the value of their assets did really drop significantly.: F8 ^8 b) u8 M4 m* B
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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
( S9 D. ]& p, }- rRefer to last example,
+ K! [/ J% z* D- H* ~6 k( [that means bank A have no money because we borrow 10 dollars from bank A * x& T( L* n& G' A# i
Because bank A doesnt have enough cash on hand ' O4 a! g0 d8 I; Z0 G$ y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
  x7 G& u8 G1 ~4 f* {3 I' p7 ]so does it mean if E failed to pay D,
' V9 p7 u' q" V) _  D) mall the B,C,D,E have to go bankrupt?8 D+ B4 e( {! R6 t, H
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& z- X8 n; m4 B7 qthe multiplier just tell how much money created in a whole economy, 7 ~7 D2 A5 _9 f7 q* v. ~
in this case it doesnt really matter how much money is created, / s" W5 Y0 w/ U  _& \" w& \0 R
it's the problem of the debt itself.1 X% e5 J% |) k' K
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
/ q6 a3 N* l+ A& s3 P! i) Y小弟一直都唔明...5 l9 t- D8 T4 c# |+ {& _  l

7 N" \! b% w- B9 Q" ^. E全世界都蝕錢，咁邊個賺緊錢呢?
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& P7 C, T3 y7 g9 D5 f- I' B7 ~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; q) G. z9 L4 k# X8 G
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Thanks

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那些根本係 紙上財富  
+ f  _) j' V' 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
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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3 N4 _7 b; x! q/ b8 f/ z. ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! @4 I# \% i( y% r6 \8 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
6 {- D6 g$ V- k* x; Y個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! D+ Q' K; L' L# V扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 z1 G, x( X# z, z3 z) m
計番回報率就已經係50%,所以可以好好賺
. y/ e+ K7 {& {3 z前提係銀行之間要互相信任先可以咁樣借法. E0 a4 W6 ?% I/ U/ m5 T
同埋個市場既前境要係好先得2 R0 I9 k. Y3 g% ]
但當經濟一差,公司估值趺了,物價不升反趺6 a2 b5 r4 d/ j: S% H
例如剛才說10蚊的, 趺到得番9蚊, $ M7 ~; t  K3 _5 [7 E) X/ A
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 G6 w7 r( e5 ~1 r+ u( {& p- A
所以你就會覺得D錢好似蒸發哂咁" H4 i# x4 P% ]4 U

3 a2 o( e( R( t) @5 k: v1 W你都可以當標野咁諗, 個樣野多人可以狂升值, - L( j& c9 x- e+ \7 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,
! n3 e2 E, y0 V% Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  u) z. ~4 h6 m! g+ ?) Q* y2 b& 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
5 ?, A. I' P) h' 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.gif# {; x# B) C& A8 ?7 v
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 M1 e- r( }. Z% g$ R6 S8 M; I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, B0 d9 F/ n  S7 F) n) F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2 Q9 q, I$ R3 ?2 M) S' i4 C& W& u  p
咁你話d錢蒸發左去邊? ...

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8 }% a- j7 c/ ~& \" Y" K; n正係咁樣
" j. i4 {' V+ U* d" 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
1 ]2 P% P" A+ Z# h) Y分分鐘佢地唔使還錢
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& {1 Q( _7 f! c) Z2 n- e" L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,
# ^1 \9 \/ ^8 h, I連國家都係問人借, 不停發債券, 印鈔票7 s8 Z' a4 ?0 S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& a" }0 E2 D7 H, ]( h9 V5 \  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
% n- J' w  z6 e- ~咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  c1 o/ E, x+ f3 C  w
因為以前未生產, 先消費7 x( f6 P7 C. [4 s% N5 |
而家就要多生產, 少消費