0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( g' W( R2 u# K& _
Why bank will sell 借據給第三者???
2 d# e! m, U% Q( X& T% eI was so confused.....

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) V# H2 }- U, A6 k4 p講到尾都係賺錢
/ s* L, h  t/ f3 E4 Aso銀行可以不斷放款
* ^: i, J. y$ B  {0 G/ \美國的房貸問題散佈到全世界
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mortgage loan 3 \; \" r  P+ z
>conduit
  a, O( H! R+ Y! C$ l( |: p>RMBS(Residential Mortgage Backed Securities); b- q; E" @# F0 p4 d
>arranger4 K: d0 N$ f7 a8 y& a+ G
>CDO(Collateralized Debt Obligation)
, I$ x* Z! L0 X) o& x, x最後去到投資者

Kev

i thought it is the reason of rate of return.8 o6 N( R* m: u* G) c
CDs could have different ratings, AAA -> F,
; L6 n4 k9 Z! G+ {more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 `# N1 F) }0 s! a6 k6 z5 Rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% |/ l- y  ~9 Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& I) {  D: ?: n- ?, Y2 WAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 M2 s$ V: `- j" p' B. H0 H( Rsimilar to bonds, CDs trading in the secondary market have different value at different times,
) \9 U5 o8 ]2 _1 E& {& snormally the value is calculated by adding it's principle and interest.
- d' Z% `8 R9 t# u2 ueg. the value of the mortgage+the interests to be recieved in the future.
, c+ R5 [' l' U  M; wbanks 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.* G- z$ {- H  R$ q

' X8 S0 L! U# S2 ^1 Him not quite sure if the multiplier effect does really matter in this case.' T* V6 t8 {, m9 Y" @
in stock market, it's the demand and supply pushing the price up/downwards.
  k7 [  L1 |+ ]: @5 U5 j6 jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* ^7 W& H- @- L7 N: V2 P* J. T2 SA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." M; g+ b* b% b+ n/ J5 \9 G- k# Y1 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. + O3 b5 r; L' m& a/ H1 D, {
but the value of their assets did really drop significantly.- I% {* i4 p2 p+ u+ H; p5 k
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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
* \% e, ^# k+ Y8 O" u; x9 `Refer to last example,; y  U' A0 W1 v, D- d+ b" u
that means bank A have no money because we borrow 10 dollars from bank A 4 U% O7 @5 E$ Q; J
Because bank A doesnt have enough cash on hand
9 C8 K7 O/ M+ ~; Q* y! Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E: O7 x# @! e: o, G% R3 S
so does it mean if E failed to pay D,
6 R2 J+ @; S1 B5 s) [+ t+ mall the B,C,D,E have to go bankrupt?1 K; h8 p& B7 l# V5 ^. x! L
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the multiplier just tell how much money created in a whole economy,
+ F; e& r/ y4 {  |9 p/ r( }in this case it doesnt really matter how much money is created, ) c+ J, B. b, |
it's the problem of the debt itself.
3 Y5 e" I: j2 p* \" j* J, }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
- N% c* w) G) x' O: q( `' l小弟一直都唔明...( B5 G$ ]6 Y3 F# i5 y% M+ U
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全世界都蝕錢，咁邊個賺緊錢呢?
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. ~3 }" u* I% I# `' s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5 t4 ~1 q$ w- ]1 x- N. A

8 n7 @, Q" Z! v/ ~1 FThanks

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那些根本係 紙上財富  6 S4 C0 Z, e  Z4 Q! w
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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1 `9 ~# ?/ L( D) k& g* o" chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  a2 E5 U/ h  V/ r. F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 ?, H1 n( G2 I9 e% |& u
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 s  I# a0 ?- b" W( v個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* a8 y3 b$ Q, d6 X* p
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ y! V- u$ H$ u  w  s/ n4 M
計番回報率就已經係50%,所以可以好好賺
5 w. q+ e; F# ^5 U5 e5 O6 N! a. E! ?前提係銀行之間要互相信任先可以咁樣借法  G% B& E& ?9 _3 R& v, H; l
同埋個市場既前境要係好先得
3 A: L% C) Q$ a1 X. R" R/ T, k. X但當經濟一差,公司估值趺了,物價不升反趺
1 T7 y$ D+ t$ o- v- J3 `$ X例如剛才說10蚊的, 趺到得番9蚊, 7 `' \. h* G! p, R
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 {" }; W" ~2 x; n6 A9 V' _
所以你就會覺得D錢好似蒸發哂咁
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- }) H8 ?  x6 T! l0 F) N/ C你都可以當標野咁諗, 個樣野多人可以狂升值,
. e$ U8 J$ d! A  C% \; Y* v, {$ 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, " ~; ]2 \& i5 k$ X1 D9 z. j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# [( V' |+ f/ M* Q$ `/ f5 U0 z% R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7 G4 k/ D' a1 ^
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
: }+ F5 {; h. `% `3 x  R1 v) @: F唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ A8 s+ Q% g: d( M' i6 h9 E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* x) J+ ~  p  u6 j1 B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
  a! c2 ]+ i4 U. I5 x咁你話d錢蒸發左去邊? ...

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正係咁樣" ?* z  Z9 S+ a0 }, m- 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
; a" a# d: {' g分分鐘佢地唔使還錢8 y7 d: f( L: h0 S. ~3 n1 R% t
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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,# E. z3 h3 K& \: E8 u
連國家都係問人借, 不停發債券, 印鈔票
* D& K$ D1 |# ~! [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ N: C: r' t% K& l; |1 z- y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
; J! X$ w+ X8 \8 y咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 A" `8 a0 J; n, I其實係...4 _& v: B9 C$ m  X1 ~* k
因為以前未生產, 先消費) T' e) M+ v1 i5 |, u5 r6 Q
而家就要多生產, 少消費