0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 O0 e+ J" X4 j1 {" U  K. ?6 H2 V# D
Why bank will sell 借據給第三者???2 P6 {8 n. z& d8 L1 G, X/ _
I was so confused.....

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2 n0 |1 Z3 J. Q. f2 e: d講到尾都係賺錢
9 X! }8 P* m& q) G* Hso銀行可以不斷放款; c0 K! R% C3 p3 M
美國的房貸問題散佈到全世界
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: y  ^8 n( C. V- _mortgage loan * I1 C# L: I, b! I. M  e& Z; }! Z
>conduit* t- K2 c7 C! F, [6 D+ V# j
>RMBS(Residential Mortgage Backed Securities)
  m6 t# v) C- a: ~' R+ c>arranger
7 h8 C$ |- D( y* T; T, `>CDO(Collateralized Debt Obligation)
; H8 X8 ^6 s  ], R1 B8 u最後去到投資者

Kev

i thought it is the reason of rate of return.5 h- }, B# }9 S9 {0 E$ _
CDs could have different ratings, AAA -> F,7 `) o5 k( |; i0 j2 w
more risky ones would have higher premium (interest rate) as a compensation for an investment.: w. \+ l7 L% x$ D  E) v5 m0 V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& ~, o( O# y0 @& w; Q$ w" X# Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 {5 @/ q) S! E; N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! e0 e! z" M6 o. fsimilar to bonds, CDs trading in the secondary market have different value at different times,
; W" W" U) s% U3 x: |1 znormally the value is calculated by adding it's principle and interest.
& ]' V) e4 D  _4 x: f4 ceg. the value of the mortgage+the interests to be recieved in the future.
. i6 \) I% V5 ^* ibanks 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.+ c  I. Y; R" C  A: G
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im not quite sure if the multiplier effect does really matter in this case.
4 h$ [0 L% p( `3 R5 ]/ Vin stock market, it's the demand and supply pushing the price up/downwards.+ `: [% E) s) K3 D$ m1 c' q( B
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# I$ _: g" l( A$ d2 Y  Z5 X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 ^: }1 P/ W* oThe 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.
9 }, |. i. d/ ?5 f: Hbut the value of their assets did really drop significantly.! p( [$ _- z4 n

7 _) w: e( |1 y( I[ 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
1 n. }1 F: t; g  l. @* z3 LRefer to last example,9 [8 c7 L' w1 b( r" U9 k  q' d
that means bank A have no money because we borrow 10 dollars from bank A
5 c0 F  G' q  w. v& j! X2 ^Because bank A doesnt have enough cash on hand . Q, u- i7 e. g; e: P1 V6 A
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% @8 q% i( f  B6 ^5 cA->B->C->D->E5 C" |; @/ ]6 ?& Q; k0 p
so does it mean if E failed to pay D,
7 \, o8 @- D8 h. i" X% yall the B,C,D,E have to go bankrupt?
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7 C) ^- J, S' ^9 p- o2 lthe multiplier just tell how much money created in a whole economy,
" g: ^4 M5 C" E  @in this case it doesnt really matter how much money is created,
& X: O0 J) v& _# oit's the problem of the debt itself.) @  y. X/ O7 {+ R
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
0 L- H) [6 K! n" d" O9 G小弟一直都唔明...% F: r7 e; |/ {  z' d' d- S
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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...
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敬請各師兄解答
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Thanks

" P3 r+ ?. {3 C$ y9 m, j那些根本係 紙上財富  
0 I' [% |* x% E1 O) S% K* d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 I% R# c% ?7 Z+ L
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, l9 D) v4 K$ z4 e5 D4 ~& w* R/ T) 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* P- }) _# [7 O0 ]9 i7 ^! r' o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 x8 _, m( v+ L" ~7 d# D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 U- l& I! g$ w計番回報率就已經係50%,所以可以好好賺5 }- J( T, _% e6 k. E- }& D, Y7 \
前提係銀行之間要互相信任先可以咁樣借法
6 ?7 T2 }& w( ~& l同埋個市場既前境要係好先得
6 I0 Q7 B# B+ i6 |, e( K1 k但當經濟一差,公司估值趺了,物價不升反趺
! h: ~9 b) y! x1 f( b- ?/ w6 a例如剛才說10蚊的, 趺到得番9蚊, " F/ R  s' |# y4 v* O8 m4 ^" F
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* [3 k5 u- @9 c; H! B+ _2 y所以你就會覺得D錢好似蒸發哂咁+ r, {' H$ _2 u: s( g

& p: k, g' f! i9 P  U* a& f你都可以當標野咁諗, 個樣野多人可以狂升值,   M2 Y* d+ P4 P) `/ A
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,
8 ], |* |0 j  o, u, U8 D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* A0 n1 P) F& [! U( @. p5 Z, 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9 U% ?  u7 Y" @6 |
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
0 ~8 [4 {% q- q; l唔係d錢蒸發, 而係比美國佬洗晒未來錢,   B  D% B, Z; t$ y1 ~% u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / _) K( }- i8 R4 Z
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4 z4 c6 S) c8 P. n6 F3 l0 A0 J
咁你話d錢蒸發左去邊? ...

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正係咁樣# v: ?6 e2 u  t8 v0 @
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  Y: g  v/ B! n2 _
分分鐘佢地唔使還錢, j# |/ Z2 ^& e0 S# p1 m" d
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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,% l- A; ^& e) ]% O0 t2 Y( P
連國家都係問人借, 不停發債券, 印鈔票
4 ~2 w: [2 l  A6 X6 Y% B/ S5 }. d- [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% s% K2 Q. [' \: w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.gif2 S4 o: x+ p( h) o/ `3 d/ Q! J0 ]! z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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* \2 J- v# h' |7 G其實係...
0 l" I+ ]' ^0 K因為以前未生產, 先消費8 g; v( i+ a; q1 y9 R- r
而家就要多生產, 少消費