0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' y* b1 x8 ~6 Y4 M& Q( M
Why bank will sell 借據給第三者???
2 i: ]$ C* y' [( L  CI was so confused.....

& ]% o2 m5 c" K' K4 t- \9 l
) |$ u, V& H2 m5 v
講到尾都係賺錢
: G# ?7 T6 r" F  Q) bso銀行可以不斷放款
6 x/ `9 w% R1 s3 I7 X" n) L* t美國的房貸問題散佈到全世界
& Z8 j* m. a4 l. k. L& f& E; w
- i1 c* _5 k, L6 t; u' |& k* kmortgage loan
; {; @' O2 {% H' S/ w  V6 u>conduit
3 ?3 @6 s/ U/ ?' o$ t  _) [. \>RMBS(Residential Mortgage Backed Securities)
- \/ f% [; c5 `/ _/ a>arranger. I  Y/ w' e3 J. @' }
>CDO(Collateralized Debt Obligation)+ G% p5 C5 e1 J' N4 V) \7 e
最後去到投資者

Kev

i thought it is the reason of rate of return.
1 y2 ^  p0 p- UCDs could have different ratings, AAA -> F,2 ]7 i) e; P* `9 n  \7 p; A
more risky ones would have higher premium (interest rate) as a compensation for an investment.( u( k8 G% e- s0 N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 }8 d1 Y& L& T$ e: Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( D. g. }- R6 c+ J; Q- r. k$ n# C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 a! }9 P. \/ G  gsimilar to bonds, CDs trading in the secondary market have different value at different times,, ]$ g" `0 y! t! ?, M, p$ y1 }4 d
normally the value is calculated by adding it's principle and interest.
, W$ }0 p! v/ g. @eg. the value of the mortgage+the interests to be recieved in the future.
6 e9 N- r2 \8 obanks 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." ~) J% T0 e! D

* h( L# o" U2 H+ V) N% Q5 pim not quite sure if the multiplier effect does really matter in this case.! a) P% s3 h0 i$ N
in stock market, it's the demand and supply pushing the price up/downwards.( y2 {9 G9 P+ t6 H( U) o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* [- d# k3 o* _5 l* f8 i) vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: ^- ?3 N( j; F  g
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.
. G9 {9 R5 K9 [: r* W* l' Kbut the value of their assets did really drop significantly.
- {# C1 F' ~' p5 _, C" c9 z- `# C+ ~  O" a$ c- R( y8 l2 M
[ 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
: f& X( V8 g  f/ s5 JRefer to last example,3 ~% h+ p& h- b) M
that means bank A have no money because we borrow 10 dollars from bank A 2 b% B) b+ q8 U" y' z
Because bank A doesnt have enough cash on hand
0 m( \- A- _& E  ]% ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

( M$ f" j# x# y" b* z* J
2 a+ Z& d  C# S2 j9 A& [$ [( E4 N; `3 K- s" M2 B
A->B->C->D->E0 `. C9 q& q; W! T1 p; o  E8 s
so does it mean if E failed to pay D, , B/ N; u$ \2 `
all the B,C,D,E have to go bankrupt?* n) Z4 U( [3 N! d( [8 R

6 f9 c/ ]; @, G4 W6 t2 h$ ]
/ g. d' @( x* F. ]$ ithe multiplier just tell how much money created in a whole economy, + j9 T, V4 p9 w
in this case it doesnt really matter how much money is created,
) q' U% {7 Z3 x* }( |it's the problem of the debt itself.3 c8 J% {. P- p, I* @3 \; \
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.gif1 @; [: f( K  B4 S
小弟一直都唔明...
6 }* k  o2 U% Y6 E" Q
, J. A! Q( ~5 Z4 i" f全世界都蝕錢，咁邊個賺緊錢呢?
9 A2 W# v, ?( }# |7 [& v
' z% S1 ^% O. g無可能淨係有人蝕錢無人賺架嘛...
! C- T/ ^9 E) c' ?4 w& S0 z+ O5 X6 t/ d2 z9 Q. I
敬請各師兄解答: T- D! ?# p% N* I+ M5 o
, Z" k/ Z0 i1 R4 w+ n
Thanks

5 V5 H  ?' I3 Y. a0 e* y+ R& ?那些根本係 紙上財富  " I4 J* ^1 d  j2 C6 p1 g* ?
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
. Z6 t6 K: d+ ^( w9 N& i9 e& H0 {3 w7 b+ n
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
  U4 Q3 [& ]1 m1 s) J" h, H4 T0 b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- M/ d* h' Z) b* c. p
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+ B, m2 t' n( l0 k4 j
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ c) w- e$ R: M' `/ j. g( L( k; R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 ]1 Z  `/ M8 F/ E* n
計番回報率就已經係50%,所以可以好好賺
% }  L2 o9 ]# e# w' h: m前提係銀行之間要互相信任先可以咁樣借法) M: D1 l* X- V) O. S0 I& [! z7 L$ b# }
同埋個市場既前境要係好先得
! V/ ?% D: p: J/ D9 ~! i但當經濟一差,公司估值趺了,物價不升反趺
4 y& Q5 A5 T: j4 r5 |/ v例如剛才說10蚊的, 趺到得番9蚊,
* b+ Z, f5 M, A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! Q2 M6 s0 [8 ~  Z8 d2 Y9 H, B所以你就會覺得D錢好似蒸發哂咁
9 g0 c4 [9 F" ?; T/ _
; t2 k( g/ P. s% e- W; y( @. i2 Z1 [你都可以當標野咁諗, 個樣野多人可以狂升值,
3 G: M- _1 N% R# p. R- d3 h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/ ?# `8 A5 z$ }3 L* F" ?5 a4 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 B7 Y- i4 S' r) w1 G& F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 c! ]7 k; {7 z( d4 [: J
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
; w; @& O0 }6 s唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( y5 {- Q; C7 H% R0 E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( x2 @( b7 [) j4 X  I5 W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 o" p- x' I' d0 C1 K* h咁你話d錢蒸發左去邊? ...

, S6 y) h# E5 b/ M. ^7 V: G4 `- p+ I( \# U: _; z2 _: v
正係咁樣4 E: X/ j! E* Y$ x6 v
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
6 L  Y/ L: E8 T6 L2 a; C  e分分鐘佢地唔使還錢1 t, K- ^4 S: M5 U1 |
8 i0 J; N: D) s4 S
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,
( M* S- P) u8 _, F* R連國家都係問人借, 不停發債券, 印鈔票/ h9 J- F0 }& q" L7 A
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; y! w$ H! o) y% M
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.gif3 `0 k2 C: T+ w/ m  Y" Y& H
咁而家"爆哂煲"算唔算先至係變番"正常"???

9 t& V# j: T0 D7 f, g7 o
" p7 ^6 d) l( _# Q6 q
其實係...# `4 T3 a- I; A
因為以前未生產, 先消費
8 d( X# G6 G% @& }8 U+ U1 p而家就要多生產, 少消費