0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" V0 g0 V) ~4 }2 r$ GWhy bank will sell 借據給第三者???4 `! u7 ~  z2 E) Z6 n: t! i. E8 D
I was so confused.....

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講到尾都係賺錢
! s5 |2 T# n4 B. V1 i  w( D! mso銀行可以不斷放款
; D9 p. `/ M: }; R: A" o$ i美國的房貸問題散佈到全世界; ]; C. F  X3 f8 u# t' y9 i

6 @/ f3 }; |, ]% I: L) amortgage loan 5 T, x: }  \+ r- k% c- k0 f
>conduit  n( t  R7 v) o. ?7 G6 F* [& t
>RMBS(Residential Mortgage Backed Securities)
. q9 O0 }6 u8 y- b>arranger
5 V0 H4 }( G. R  ~: ~>CDO(Collateralized Debt Obligation)
' l/ ?% q1 j. D% u最後去到投資者

Kev

i thought it is the reason of rate of return./ p* P5 y* n) u. t- F! b4 P
CDs could have different ratings, AAA -> F," Z% t% @0 v# x& B# }5 j* R4 ^: s
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 H9 E$ Y( m9 ]. F9 u6 r1 I2 omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: P. z+ g' k$ Q- f& b- b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 }" s8 e' g" s- h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. O$ Z6 P- @7 tsimilar to bonds, CDs trading in the secondary market have different value at different times,
( [2 c. r, |* M6 Vnormally the value is calculated by adding it's principle and interest.
4 N) X& I" Y# ?3 e) g$ beg. the value of the mortgage+the interests to be recieved in the future.
1 ^! p' I( r  a( K+ W" [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.
; \& ~; i. _: x6 p9 f3 {% Nin stock market, it's the demand and supply pushing the price up/downwards.2 X. ^7 `6 T+ _3 B- c
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 p3 o: ^0 e) c0 g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. b' H8 G% g; V8 w
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 z6 Z* J4 ^$ l. c& [5 B& `
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.gif0 |8 B, u2 A0 c1 g7 ?1 m
Refer to last example,0 }; w" @' J: I% W9 I) o
that means bank A have no money because we borrow 10 dollars from bank A
% X5 T9 X. x9 L% [Because bank A doesnt have enough cash on hand   Q& h' T9 R) ^0 z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E1 l8 {) H# S$ T
so does it mean if E failed to pay D,
$ Q  e2 b/ U5 `3 H' J) U7 ~all the B,C,D,E have to go bankrupt?0 ^5 a8 L/ }. Y+ |- w) i4 w! Q
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the multiplier just tell how much money created in a whole economy,
0 [/ i% D9 }& \0 K+ a; l5 }in this case it doesnt really matter how much money is created,
8 h$ k- G- d9 Nit's the problem of the debt itself.% v3 k# f, S% R8 M* ^$ x
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& A* x. N. J0 g$ ^( o
小弟一直都唔明...5 D  `3 v- W! h) p

# |+ a; l% y2 w) [9 r* E  E) c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...! H1 E" m8 R) ^! }$ Z

; [- b$ u" b4 g3 d, R+ s' ?- @8 s敬請各師兄解答
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Thanks

1 u% |3 R# s8 b4 V那些根本係 紙上財富  - H2 Y( z$ t; a9 l- Q3 G6 B0 [; S: O
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
5 k+ S, P( v6 C' G當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! z8 N  ~. K& _' [" q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
' R! f3 [0 o9 Y, ~6 v& t( q2 V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& H: f, {% q7 M( d  {2 |  a
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: f5 E3 s+ T- \: O5 A計番回報率就已經係50%,所以可以好好賺
! o1 k5 q" Q  N! Y: B% \前提係銀行之間要互相信任先可以咁樣借法) ~0 V6 J+ h! W+ ~; @
同埋個市場既前境要係好先得
8 K; y  h5 G: f. i% t+ D但當經濟一差,公司估值趺了,物價不升反趺3 U1 j; p3 V* w' U$ }+ F, j
例如剛才說10蚊的, 趺到得番9蚊,   E, u! P- v% }/ K$ A
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' Y( G  r3 W( t% [
所以你就會覺得D錢好似蒸發哂咁2 A9 q. M1 M0 C) R7 ~( z) S

. `& c) b" a" I* n6 H6 o你都可以當標野咁諗, 個樣野多人可以狂升值,
) W$ h4 d: ?" 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, " b  c& j) {7 z: W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 k  b( m* Q7 s" E
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( V2 r1 {7 Y+ I* z5 R' M
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
$ U3 s; q. x; w" k) ~唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 \) h' T4 x' M! Q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  g1 K" T) X: G2 q. Z  p- Y6 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
" O3 Q( `( i! J% \: R: \+ J& _7 B咁你話d錢蒸發左去邊? ...

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正係咁樣
; N( v, t: @8 }) p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
, W4 I: ^$ {0 Q, Z* h$ y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,
% G% r0 A3 r, V5 b' R2 |8 L連國家都係問人借, 不停發債券, 印鈔票
* ^8 _6 ^# e. s0 K! z& i* E. _# a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 F$ H* v0 N/ H' l7 O
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.gif7 v" ]2 K$ r. B9 m/ \- k- y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% V, j! j& h2 k$ n
因為以前未生產, 先消費: r* ^* }9 I* o6 {8 n
而家就要多生產, 少消費