0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 S( V; O8 b8 }4 ^Why bank will sell 借據給第三者???" E4 W9 @. k3 d5 b# N/ e
I was so confused.....

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; M+ l0 o. P& Z) ]  {& _# z6 j講到尾都係賺錢
2 h1 p/ o; Y% R" C. {so銀行可以不斷放款; Y9 N: Z" R: A* L5 y/ t; W
美國的房貸問題散佈到全世界
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1 W  n# ^/ |) J# F0 T1 W- Umortgage loan 1 e1 {! ?: }" h5 J0 x
>conduit
! v. ?7 O- _4 c3 e>RMBS(Residential Mortgage Backed Securities)7 X9 i! b' S6 ]# G  C
>arranger
  t$ p2 V7 {1 u, a>CDO(Collateralized Debt Obligation); k8 C! V, ~* u" O
最後去到投資者

Kev

i thought it is the reason of rate of return.
! E+ P5 s! w( ?- q* `# J6 TCDs could have different ratings, AAA -> F,3 a( V7 u6 N+ F. M6 ?) a+ y
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 }1 Q  m* n8 ?- C: Y* o8 r
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; \. T4 r' b1 M) c2 bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- F$ g4 A# N; A0 e9 u8 H- z$ V5 O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( c3 Y$ b3 I5 y. P7 Y/ f- f# ~
similar to bonds, CDs trading in the secondary market have different value at different times,0 w3 q* s- I5 W4 o
normally the value is calculated by adding it's principle and interest. - y$ b4 ?0 m2 B4 R* K0 `' y& S
eg. the value of the mortgage+the interests to be recieved in the future.
, l3 V7 h5 m' w  x' p; Qbanks 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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) @5 A" L% c5 E. L. M- sim not quite sure if the multiplier effect does really matter in this case.( [% g6 N8 ?7 Q9 \
in stock market, it's the demand and supply pushing the price up/downwards.) j8 ]3 l% s2 g* R4 _
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
2 G# j" H, g$ u6 }; E, BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 I: t& Y6 M- I  V! {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.
0 U4 y; S5 S3 @8 A, O. u$ vbut 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
$ z4 x& M: U& S' T' _  ]) jRefer to last example,9 @6 @* D: q2 p; E/ w. ~$ O9 j
that means bank A have no money because we borrow 10 dollars from bank A
9 W! e, C& F$ uBecause bank A doesnt have enough cash on hand 6 u7 C1 a/ U1 K$ h+ g  r
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ r, f$ W& @9 @: J6 \A->B->C->D->E% m% B1 V( i% m! i: a# V
so does it mean if E failed to pay D,
& x; \; ]6 \# V$ o: q5 s8 ^all 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,
1 X' a9 p( p: D2 m. q+ s& x: tin this case it doesnt really matter how much money is created,
/ O. d; h# N, V- K5 Zit's the problem of the debt itself.
( j8 J% _& y" a* L; [7 Z2 ~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
1 y, a& a6 t- ?, ^小弟一直都唔明...6 ?. g- G# w/ q

* q# g+ {- ^+ Q7 b- W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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2 H1 b# _% Z' p- G; Q敬請各師兄解答0 d7 _( t# }& Y. O0 N
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Thanks

2 T3 X5 R" h7 g那些根本係 紙上財富  
0 Z8 f7 `2 ?% l( T+ c; a+ ]: F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$ R6 w' z8 q7 l* _
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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
" p" I) K  }, W4 n, d當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- }( k, r2 \3 ^4 J; k$ e
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( e* m3 r, T! _. _3 y7 A- f& |2 I/ V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* T: {! |; w$ M扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 q% x. {9 E  t: \( x
計番回報率就已經係50%,所以可以好好賺
; I! d* p3 G  L7 r4 N6 `! ?前提係銀行之間要互相信任先可以咁樣借法
' Y7 c8 b  U+ c* K* A同埋個市場既前境要係好先得+ Z) h* A6 v" j! K2 E
但當經濟一差,公司估值趺了,物價不升反趺
8 m% l5 A8 _6 Q) r8 Z" f: I7 e1 N+ o例如剛才說10蚊的, 趺到得番9蚊,
2 i4 O! K; i: E" \8 }! E8 A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ }& P( I$ y  R# l. S2 u+ }. ~0 {
所以你就會覺得D錢好似蒸發哂咁) U3 G# X  l" p9 U) e( s
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你都可以當標野咁諗, 個樣野多人可以狂升值, # u* R0 v$ T4 m4 }' F6 x4 p
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, ' i( I* ^' d* k5 w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - s% e' k( y6 G8 |; ~
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
: W9 S" D0 _3 W; 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.gif2 A$ x" E9 H9 w, \+ O
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% y$ G2 g: W3 R& a3 R1 N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" y) \$ d* I9 Q; m3 j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+ g4 T! Q) P+ v4 j( t6 M
咁你話d錢蒸發左去邊? ...

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8 C6 i+ J% j/ j9 t正係咁樣
' a9 _, G  W1 h: s2 }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7 q) [: E+ s. v6 t) F7 t
分分鐘佢地唔使還錢6 {# `5 A% I* {' ]4 h1 ^

0 \0 ?$ @* |0 \; `1 ~$ b  o; z% @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,
& P1 @6 K, S( q! g+ F, W9 y) Y連國家都係問人借, 不停發債券, 印鈔票  q- @# C# z; U* E, e
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: e2 s5 ?) u# s; D* i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
. s0 f1 r2 h$ t* e咁而家"爆哂煲"算唔算先至係變番"正常"???

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. C3 ^+ V, Y8 Q; Z1 M其實係...; Q4 A3 _3 f! O1 O& i
因為以前未生產, 先消費
* {; p+ I3 d; o3 I8 e而家就要多生產, 少消費