0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- F% @0 Q: ^, O6 |
Why bank will sell 借據給第三者???
3 H9 W, N0 w% Q' j4 L0 iI was so confused.....

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講到尾都係賺錢3 g/ q' N7 {0 w, z# x7 N
so銀行可以不斷放款
/ U. u; ]8 h5 J! J: P' {* P1 J美國的房貸問題散佈到全世界5 g) O' |" [. m# H$ ^! S
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
. T, L( D& ]- C! W/ K>arranger7 r8 A3 N4 L, X& G
>CDO(Collateralized Debt Obligation). L# K6 W% J% U7 l5 q. K
最後去到投資者

Kev

i thought it is the reason of rate of return." q  l5 o2 K9 D: p  a
CDs could have different ratings, AAA -> F,
5 \0 S' n% f# R# U( T5 d# H; Imore risky ones would have higher premium (interest rate) as a compensation for an investment.7 h+ d7 e% Z" P+ i7 Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 S' P2 j- T- V1 `4 Y2 V6 M' z- z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 A) H$ Z. s1 T" g* X. DAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ s" b( _/ t! a) t) C
similar to bonds, CDs trading in the secondary market have different value at different times,; T) |! u) V+ e) M7 Z( K$ j
normally the value is calculated by adding it's principle and interest.
3 _& p% h8 P/ \4 Oeg. the value of the mortgage+the interests to be recieved in the future. . Q) F5 y- ]0 f
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.1 w; n" O$ ?4 H$ d
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im not quite sure if the multiplier effect does really matter in this case.
3 M3 ]- }3 l! H1 hin stock market, it's the demand and supply pushing the price up/downwards.9 Y5 e: Y9 {" O# V0 s. c, g6 b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) E  w5 B4 f7 v8 ^! @5 QA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 j1 h5 ^' H$ r4 AThe 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 W) J! G* H* Tbut the value of their assets did really drop significantly.8 O; P5 I5 w! ?/ T9 K: S
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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
* K) s  _8 ~0 \$ D4 NRefer to last example,+ G/ o" y$ b5 T! h; v
that means bank A have no money because we borrow 10 dollars from bank A 8 ?$ [$ h& u4 o9 Z1 A0 b' t5 ]
Because bank A doesnt have enough cash on hand ; k7 ]8 E) j: Z. E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
( P# Q. ]1 A, m0 J" oso does it mean if E failed to pay D,
4 ?2 F' t9 P% wall the B,C,D,E have to go bankrupt?# z; `2 A( s+ s: m- b) v* Y
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+ ], W( d* V  Y( B! x) |the multiplier just tell how much money created in a whole economy, 8 ]$ Z4 F9 _: l  @  C/ M# ^! L
in this case it doesnt really matter how much money is created,
) O  a& ?. |7 g* \+ x5 Git's the problem of the debt itself.
- [9 a9 s0 }- b, M( cthe 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- N# M$ C4 v1 w# n; y
小弟一直都唔明...3 Z1 e% _2 g9 z' @2 w  f3 o
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全世界都蝕錢，咁邊個賺緊錢呢?
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& H& q: |! @5 }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

6 v! ^8 W1 E1 a8 }/ m* W" w, [那些根本係 紙上財富  
$ k% X5 X" n, m5 b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& n" Z- g# W+ c) E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: y, Q6 Z" I+ `% k" s" R" O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' b' c" N! U, |8 f* R# r4 O9 G
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 `7 W& l5 k5 Y$ v$ R* D4 L
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) o( X- N3 L6 V$ x: K計番回報率就已經係50%,所以可以好好賺& R8 j3 A: z9 j7 H
前提係銀行之間要互相信任先可以咁樣借法
5 `4 [2 j3 j$ q9 H  k- ?& I同埋個市場既前境要係好先得) ]& @6 u4 F9 f- c" w7 l
但當經濟一差,公司估值趺了,物價不升反趺- F; l9 P  z# @( Q7 M4 B9 P) ~
例如剛才說10蚊的, 趺到得番9蚊, . O7 G7 G7 P& H! v
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* L2 X& r' _' t所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
; d+ l& Z  V5 o. c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,
9 p! F7 D( F6 l' U) _( H" d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 x/ Q. h! R1 k9 d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
" S9 o9 X% @  O9 x  h) {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
, b# `  \$ [& l唔係d錢蒸發, 而係比美國佬洗晒未來錢, % B8 r% ~3 d' N0 o2 U; }! x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 n) l2 T. L* p6 R( m7 H
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
0 I8 m6 S" T* t7 z% T" ]. I' {: P咁你話d錢蒸發左去邊? ...

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正係咁樣
2 o, ?. t# L6 x! X$ }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# f- r* m( T, X: I
分分鐘佢地唔使還錢
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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,6 r# l9 r# b7 ?) t- ^& Q- T
連國家都係問人借, 不停發債券, 印鈔票
, h' k2 y8 L9 u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 G) X: T$ q+ ?- ^. w4 \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
& T9 g+ D6 l7 X2 {( y; P咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
1 ]5 k' U' p: R& [7 ?因為以前未生產, 先消費1 N5 h6 j+ R9 d8 t6 Y& J- V  V
而家就要多生產, 少消費