0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& r0 J( X! P- t% O, x: y
Why bank will sell 借據給第三者???
4 T; _* G8 e1 {. B1 d% x1 }& p9 VI was so confused.....

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講到尾都係賺錢
( W( [( l% ?7 G( u! L! B3 z! Fso銀行可以不斷放款
# q% s: l+ H6 @5 i0 e美國的房貸問題散佈到全世界
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mortgage loan 3 E9 j) D3 M3 C3 Z7 r$ d
>conduit+ W2 U) X$ u& `. [* l5 w- q
>RMBS(Residential Mortgage Backed Securities)* t7 C& l2 H; R' v9 h0 Z. g
>arranger& D" ^. d1 _9 h: C  z
>CDO(Collateralized Debt Obligation)
6 H- j' }, u3 ]+ p最後去到投資者

Kev

i thought it is the reason of rate of return.
' F" p# C, g# p3 y3 ^6 w& ~- b  [CDs could have different ratings, AAA -> F,
, B) e) j- g6 `8 g% `more risky ones would have higher premium (interest rate) as a compensation for an investment.8 y# D: S& F$ y* F
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ ~$ m( P+ o( I% k/ {# d
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: j( A4 d2 _/ |2 q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." Q9 g; Z4 P" r6 n! Q
similar to bonds, CDs trading in the secondary market have different value at different times,! k* R9 `: I/ }% p* A) `, u
normally the value is calculated by adding it's principle and interest.
( e" B$ j8 H/ d1 ^eg. the value of the mortgage+the interests to be recieved in the future. ; P1 G! ^( p: r3 }
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.4 r! z* ?4 K) P5 q% G# l! i
in stock market, it's the demand and supply pushing the price up/downwards.
, J  H7 v/ G# T* H1 nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  T4 {2 X4 N7 P: o* X5 c! nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) q* O3 Z8 P8 H) w6 L( z$ l/ U2 r5 g
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.
4 q6 S* B! R/ M  lbut 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
3 Z8 L: v9 U6 x5 C# _Refer to last example,
# M0 D) ~) \; o1 Y5 H. mthat means bank A have no money because we borrow 10 dollars from bank A / N* c( r3 a8 C- `! j; F* V! Z" h
Because bank A doesnt have enough cash on hand
% V- p$ M- s# t* xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E' e3 Z0 G1 _. }
so does it mean if E failed to pay D, 9 S7 t$ V9 i/ N& y  r, {) [, E
all the B,C,D,E have to go bankrupt?3 @3 S; X; l7 n6 R, c6 `
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the multiplier just tell how much money created in a whole economy,
7 l0 i& |& d; H7 d. e, `' V6 M9 |in this case it doesnt really matter how much money is created,
% J, X) q9 g4 F7 i9 Tit's the problem of the debt itself.
6 z9 |* U8 j5 qthe 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
- Z: O% v3 S3 V8 o- n& u& z小弟一直都唔明...5 {; q+ a2 k% ^" P
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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...: @5 y& Z8 t: f$ L2 N" o

. e9 [6 K# _6 [+ _* ^$ G敬請各師兄解答
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Thanks

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那些根本係 紙上財富  + F  a5 j7 }" }3 \  _
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/ [+ p2 ^7 Q9 b& H% J/ F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( m. n: ?/ d. g2 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8 p) `* m: Z: g, |6 U
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- @2 F$ G9 L, [# S- f扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ \0 p: F) _6 i& z6 C5 J# G- m計番回報率就已經係50%,所以可以好好賺
8 C# D8 |7 y. [前提係銀行之間要互相信任先可以咁樣借法/ z  o1 U- c% ^* G* d' C# L
同埋個市場既前境要係好先得, b! V5 k% F* M4 k# Z4 d
但當經濟一差,公司估值趺了,物價不升反趺7 h  Q  C5 X. V
例如剛才說10蚊的, 趺到得番9蚊, ' R" m9 ^! r1 q' n& D
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 n) h' F3 f7 G所以你就會覺得D錢好似蒸發哂咁
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8 O+ [/ h* S. Q* V* X1 W你都可以當標野咁諗, 個樣野多人可以狂升值,
7 q& j7 P  i) b% [# d: s! ^. L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,
' p! o9 O: R1 o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 d# L+ h) D( Q* {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 u& |+ Q% Z7 B& t, a' P% r
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: A# J- t( n2 \  B. @& k% I; T
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 k- ^5 F( A- W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, z8 B6 \! b( c' @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 U! V' G" u3 Y# O2 u' r6 K4 L+ j
咁你話d錢蒸發左去邊? ...

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+ p/ c/ q  l5 C. V* K8 w正係咁樣) u) P' b, V* h8 `, O
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" G/ A3 }7 D2 D5 R2 n4 b
分分鐘佢地唔使還錢* k( u  _2 E- U2 G+ 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,8 o; J3 J3 V' n4 L) a9 T
連國家都係問人借, 不停發債券, 印鈔票  Q1 s# d, t8 S7 {. `5 H0 F
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, l5 ^: L0 p+ K, M- K
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! `# i8 a5 \: m5 o. {
咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ p( ^& G  d3 J- m其實係...
/ l/ p* w  E  x3 X因為以前未生產, 先消費, z- p4 |& \6 U0 U7 d5 }4 J6 V
而家就要多生產, 少消費