0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! e+ g. i# k5 m) c/ Z8 Q
Why bank will sell 借據給第三者???
+ z$ A1 O4 ^3 k! vI was so confused.....

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: |, a. I/ W' K5 S講到尾都係賺錢
9 h# z( v+ E" {* x: \so銀行可以不斷放款
  }& S0 x. V6 j3 ?  h美國的房貸問題散佈到全世界
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- v2 [  N% l! j& @8 C% pmortgage loan
; L1 I% Y' y9 ^+ e, Z- v! `>conduit
4 N6 v0 d' ~- s2 r>RMBS(Residential Mortgage Backed Securities)+ _3 J/ M# M, e) A' D
>arranger
) t" I1 ?& c  e>CDO(Collateralized Debt Obligation)( u1 p9 p/ Q! p, h
最後去到投資者

Kev

i thought it is the reason of rate of return.
1 _" ?+ i, O+ ECDs could have different ratings, AAA -> F,
/ F. {6 j& P; q8 r9 K& ]more risky ones would have higher premium (interest rate) as a compensation for an investment.; I9 `0 \1 n) L: A, d9 P
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' A7 l2 r( D+ j+ win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 R7 p6 ?" g) ?/ B" T: _6 L3 N- S# RAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
/ E. j9 k- V% O: j) }similar to bonds, CDs trading in the secondary market have different value at different times,' F5 Z9 [3 X; F% F4 y$ }
normally the value is calculated by adding it's principle and interest. $ j* \" b# i; \- U2 G/ b: ^
eg. the value of the mortgage+the interests to be recieved in the future. 8 ~, f; e1 X' c2 P! v
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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% `. G* X8 g0 U& e+ sim not quite sure if the multiplier effect does really matter in this case.
5 W; P; I1 h2 f1 R/ ^& }* S4 x0 Rin stock market, it's the demand and supply pushing the price up/downwards.
2 x; l  I, P/ u9 Y8 KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 w1 w+ Y: f1 O9 f% L1 ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
  t) C0 N$ x9 _' t2 _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.
: O1 D7 U* Y: l0 _but the value of their assets did really drop significantly.2 G% N  N! q7 y8 f$ t: K' J- J/ \/ v8 a
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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.gif4 A/ c1 j5 s# p$ ^! U" v
Refer to last example,; @' x" N3 _1 Q
that means bank A have no money because we borrow 10 dollars from bank A
' P% C; \+ |- i* aBecause bank A doesnt have enough cash on hand
2 I9 v5 v: n' z3 j0 o- c) U" ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
& y& ~& ]8 ^; I" G9 C! F4 F7 e/ [0 uso does it mean if E failed to pay D, - g% ~: J% O3 {
all the B,C,D,E have to go bankrupt?9 m& k- D( }! R7 M8 \
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the multiplier just tell how much money created in a whole economy,
9 K! q" i1 d0 s: hin this case it doesnt really matter how much money is created, : c& t9 m. g) e, e! o
it's the problem of the debt itself.
4 s/ e. l( k% ^& jthe 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.gif4 A  [) I' c/ m9 i
小弟一直都唔明...
8 H6 e: z7 e0 L0 y4 k& A  X- `4 Q. ]0 V+ A+ }5 ?* t& n4 a  U( u
全世界都蝕錢，咁邊個賺緊錢呢?/ f, Y/ X) F% b. K+ P" i- v* D, {
$ F8 g+ h9 n, v$ O  p. a) z# {
無可能淨係有人蝕錢無人賺架嘛...8 R9 G  n1 Z3 g) e9 e

' b3 f5 I& u% Q1 m$ h3 e, `9 X& `敬請各師兄解答7 O1 }% w8 R' L( b* n

8 @. @' N/ _' w3 TThanks

* z- R; r; \) q$ k0 a: w7 {/ E. e
那些根本係 紙上財富  
% ~7 Z& |/ M; E5 x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" |# N4 x% D* u/ \. p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  A( ~% g, f  w0 z1 f+ ?) {- m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 {" k" b$ q: ~& j: ]* o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( q% o, j5 X: B+ V/ B! \扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ n1 a6 d, \; q1 |
計番回報率就已經係50%,所以可以好好賺/ \. S/ g3 L+ D! V- h& s
前提係銀行之間要互相信任先可以咁樣借法
' W" w$ i: A8 x' O同埋個市場既前境要係好先得
* ^# S( o- a0 d! [9 o& Y1 H但當經濟一差,公司估值趺了,物價不升反趺- `7 S0 h1 |+ e  Y
例如剛才說10蚊的, 趺到得番9蚊,
1 T$ N+ s; E% [7 t  {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 l, F+ _2 D( [7 G所以你就會覺得D錢好似蒸發哂咁/ Y5 _; w5 i8 W+ D5 }

8 H$ p5 E4 [- J4 _你都可以當標野咁諗, 個樣野多人可以狂升值, 2 V7 g  J7 R2 Z  D: h1 D9 H. c
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, ( `# U5 Y4 C# a& V! V1 t* V# M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! c6 Z6 n$ B: m8 ]/ \0 Y9 o4 i4 [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5 m, U! L: b+ n
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$ o/ n% ?" ?唔係d錢蒸發, 而係比美國佬洗晒未來錢,   k! i/ l$ W6 u% u* s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* L' N9 Q# J" 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1 b7 {8 n  E2 x& t0 `+ Y2 ^1 V
咁你話d錢蒸發左去邊? ...

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正係咁樣* U* O2 {8 T- r- g2 b$ |& Y
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& a- k  ?9 _, M
分分鐘佢地唔使還錢
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* P8 ~2 m* h2 M0 p( _  |$ C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,1 K; b) R# A7 {" P
連國家都係問人借, 不停發債券, 印鈔票% _) A) P& W( C1 L/ c  C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- Z: C( }' @9 U0 x5 W# 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
2 |: M4 Q9 B6 h; M咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! C2 b% m  E1 U" F6 h因為以前未生產, 先消費
, Q8 {! ^4 ?) ]* \而家就要多生產, 少消費