0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 i. c: \" q8 p# f0 e2 G
Why bank will sell 借據給第三者???9 _/ M* r0 p; y2 @  V
I was so confused.....

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# u* P$ N8 W/ c( x" m講到尾都係賺錢
, H  X6 L1 M/ Z1 \- V+ g' Q$ R7 Jso銀行可以不斷放款
0 z& ^! {( E6 B) a美國的房貸問題散佈到全世界
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mortgage loan 9 ~* N1 X: G7 T1 h
>conduit
: y" N. n/ \/ o2 w# t+ Q>RMBS(Residential Mortgage Backed Securities)$ c; {8 R8 R% a
>arranger" m, d# d$ r2 z: U4 r9 ?6 b
>CDO(Collateralized Debt Obligation)0 ^; r" N$ I) L5 i# ^2 @) ~
最後去到投資者

Kev

i thought it is the reason of rate of return.% G( R  `5 b) J5 n& k5 r* X: m
CDs could have different ratings, AAA -> F,% u/ x& L( I  A9 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, C4 [2 y& F1 q. t: @/ A/ rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 W# O* u  Q' h# `. f- m0 Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, ~6 d" L5 E9 M: u/ ~# E- E% U2 OAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: ^: J1 v9 H+ B) u2 L$ m% ysimilar to bonds, CDs trading in the secondary market have different value at different times,. m$ [# Z/ U% J  V3 h1 |
normally the value is calculated by adding it's principle and interest. 2 p: M) R1 ]: a: e
eg. the value of the mortgage+the interests to be recieved in the future. % d( Y, t1 Z- l  q1 }* A
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.7 I( e4 q- z( E* x

) C3 q4 E+ G- }8 W8 z! k/ z- jim not quite sure if the multiplier effect does really matter in this case.
* X6 A& _- P3 N+ A# _1 q$ I% Sin stock market, it's the demand and supply pushing the price up/downwards.! S5 M. ]/ K  ~, |
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( X0 E: v  q  e* v% l# j4 J, Z, i
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." M/ I: A+ |2 Y% D. D! F
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.
& F: v1 F4 ?3 ?; e# }7 }& @but the value of their assets did really drop significantly.& b9 ]1 G. G" M. f1 |/ b  w/ s5 H; A) E
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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
( R" n  Y$ |# F8 V7 z7 @Refer to last example,
9 P. W9 Q9 c6 l) Y. `- o) ]0 Qthat means bank A have no money because we borrow 10 dollars from bank A / |4 b4 I' N7 z1 m% H# b
Because bank A doesnt have enough cash on hand
, ~8 f* K1 S. Ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  B4 D# ^" w: @! b; X' n3 D7 v# lA->B->C->D->E
; y+ ~! M: m! Q" Nso does it mean if E failed to pay D,
6 |/ {. M) @1 D2 h2 }' eall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, : g& p& {& B  M
in this case it doesnt really matter how much money is created,
" B. F7 f7 a& ^( |: Mit's the problem of the debt itself.
. |9 p2 k' s, V( ^$ O# Othe 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, F" Y9 U9 f2 D& w( L
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?  k9 t! Z1 _0 W% L7 s% ~. Q$ z
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無可能淨係有人蝕錢無人賺架嘛...- {5 C2 q9 ^! x% p
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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  7 b# k2 E; H, H. e$ ^
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2 z# d8 W, M0 J# U5 t6 A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ b/ G8 A) @$ d& ~6 I
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4 R6 T6 K( a- M/ n3 ^
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 h6 C( T3 b$ K" s% q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
. W% \+ Q" |6 b9 L5 M+ k* C計番回報率就已經係50%,所以可以好好賺1 {  e+ v, g4 [; b: e
前提係銀行之間要互相信任先可以咁樣借法) ^* C# r. G% K0 A
同埋個市場既前境要係好先得8 I: d% g4 t4 z0 _; W/ W& u
但當經濟一差,公司估值趺了,物價不升反趺1 P! i6 L( \1 @9 O: f* p' E
例如剛才說10蚊的, 趺到得番9蚊, % T) R; ?' ~7 S' h1 y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 s& u9 C8 Q* d) u
所以你就會覺得D錢好似蒸發哂咁) J7 ]! Z( w6 b3 A/ d& C
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你都可以當標野咁諗, 個樣野多人可以狂升值, % q) R/ u4 P! w- d
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, 1 f- L; F  n- u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. ~! @) G! x3 n6 a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* s4 Y" o  M& X; v) k; V" k; W# 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( y- I, ~) y* s, N' ~# s, i
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + H+ g- }$ d' x0 W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 ]  P- H1 I3 K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 @1 ?1 Q- w- _" V0 W; ?* c$ r
咁你話d錢蒸發左去邊? ...

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正係咁樣2 t( p- p0 v( d5 g
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3 h0 u4 Q4 q( u
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,4 ^# ^5 y! S# Q8 I) E
連國家都係問人借, 不停發債券, 印鈔票8 a3 o  `% V. i
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. ~4 [2 p7 ~8 o2 y. _
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! A* L6 s4 H5 u3 M' D) K. R7 u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
1 c, N/ ?$ A- h因為以前未生產, 先消費: P' S+ I  ?0 d, Y1 m+ D
而家就要多生產, 少消費