0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& o8 |1 R+ ?& f$ P! F' i
Why bank will sell 借據給第三者???
$ F% S( V: y1 G: b2 L* _I was so confused.....

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講到尾都係賺錢
0 q& Z; m- M2 z: q! U. Yso銀行可以不斷放款; g9 R5 k$ t. u3 w' B) `5 |; a
美國的房貸問題散佈到全世界, |8 T( N1 b) @  w

" u" o! m, ?6 E- u$ dmortgage loan 2 U5 ]& D% V8 q' ~8 l
>conduit. \; d0 C6 j# t2 d! K. M+ d
>RMBS(Residential Mortgage Backed Securities)- L- {/ y) P) f. g! v
>arranger
# C9 a; \% e1 b' h% V1 t4 W>CDO(Collateralized Debt Obligation)1 ]3 q+ u& V# n8 F* c: n
最後去到投資者

Kev

i thought it is the reason of rate of return.
3 n- l  \" }4 E* B! ]5 p4 DCDs could have different ratings, AAA -> F,7 E4 S+ V7 I3 A( x. ?
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 y: g4 j! A( Q% [1 z; |% O( ?6 Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- T/ b' R$ \* }in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) q  B; \6 @$ e. \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" j) g9 a+ M0 s% L/ N3 qsimilar to bonds, CDs trading in the secondary market have different value at different times,
6 `2 X3 J5 ~" G& u. y6 [normally the value is calculated by adding it's principle and interest. ( f( H9 q' U0 f8 Q6 P
eg. the value of the mortgage+the interests to be recieved in the future.
0 _- Q! S+ p; O1 Abanks 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.4 I# f6 x: u6 c& `, e

' S; x8 {; ^* P0 _$ I; s- c4 Jim not quite sure if the multiplier effect does really matter in this case., T0 {! G/ C& a" E: [( k! [4 l
in stock market, it's the demand and supply pushing the price up/downwards.
/ @  `7 g* J# W6 qFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' r2 r8 \; n6 M. g: qA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. N, q# m2 }& O% }9 P- I# m4 q" ^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.
6 B! I% E( H. n- X  }" a7 wbut the value of their assets did really drop significantly.
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; }8 u. A' m+ {$ }7 l' x[ 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 z/ t. M! p8 C3 XRefer to last example,
' a( T  G2 e- ]7 v* l& d& _that means bank A have no money because we borrow 10 dollars from bank A
% E  z) D7 x+ |' {7 D) F9 YBecause bank A doesnt have enough cash on hand
/ C0 O0 I: Z# J* A! Z" vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  R' k) R9 e! u' wA->B->C->D->E
0 b2 B$ i/ j7 c% m" ~8 k. ]so does it mean if E failed to pay D, % D1 ~$ |+ ?5 H( b  E1 @/ @
all the B,C,D,E have to go bankrupt?1 \7 y; Z- M. q( Z9 l: r, P
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9 w0 t7 H% S# gthe multiplier just tell how much money created in a whole economy, 3 D/ K0 R/ w1 o. s( S
in this case it doesnt really matter how much money is created, ) @9 E6 @, h- z# ]. G' Y2 q
it's the problem of the debt itself.
4 D! }' O4 K, B& Pthe 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.gif9 n$ y% M% q/ n7 [& s
小弟一直都唔明...5 A% E4 M0 L: f9 R  ^6 }

* q0 H" v- p* W* S- `全世界都蝕錢，咁邊個賺緊錢呢?* z$ N- _( s; i8 d4 n
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無可能淨係有人蝕錢無人賺架嘛...
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- y. r2 c( l" E- [5 S3 R5 k9 I敬請各師兄解答# m$ G! ^- g- p0 I" l0 q/ }% ^7 O
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Thanks

2 j; S' }( A, _- F那些根本係 紙上財富  
6 I, x3 P1 z& A9 f! B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* f0 _# Y0 M' m4 G+ }! b
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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 f( a# L( i, F' @) Y$ k當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ x; }4 W9 D" ]
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/ m4 n0 M6 [) x8 t, ^) V, G
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ _5 @: T# L- @- v3 w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# T5 g9 g- E& x6 w6 k計番回報率就已經係50%,所以可以好好賺
0 b6 ?  Y- a  n7 F# m前提係銀行之間要互相信任先可以咁樣借法
1 c5 w$ K: {5 |/ `. S同埋個市場既前境要係好先得
$ f0 Y6 D2 @: }9 M: m但當經濟一差,公司估值趺了,物價不升反趺
7 W- x0 A" q, ?& k( M例如剛才說10蚊的, 趺到得番9蚊,
3 M" U6 T0 H. D/ `* c3 D咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ p, ?& U! M1 b$ p# b所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
& P) n& v, b& F  @# U& c- f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, 1 c5 M7 G' f9 f$ J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" M, w5 s( c2 T% o& d: Q4 b9 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
/ f- G: X; t1 Z- V. g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' G$ V+ D( k) l! L1 p& o* J! t
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 n6 f( j- Z& ^3 y0 r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . ?  o0 h  `/ G& Z0 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
' }5 c: H& f3 B' v( c咁你話d錢蒸發左去邊? ...

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正係咁樣
% h9 C; F  g( b( J# U* n) p$ I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$ n6 q0 ?  A' Y7 O0 E5 v& X" z
分分鐘佢地唔使還錢# T; y) a" x' p+ o0 J3 |
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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,
3 U/ J8 t, N/ `5 D0 z7 _' ]7 ~3 _連國家都係問人借, 不停發債券, 印鈔票3 v9 g7 z2 ?5 v7 S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. r6 q1 n* |4 B
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
3 V5 u; |- E, k% W咁而家"爆哂煲"算唔算先至係變番"正常"???

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: a! p  T( A/ B5 O其實係...8 l, V8 x: I* i% A' V+ \3 R) Y
因為以前未生產, 先消費
8 |" l1 {4 n$ J, R而家就要多生產, 少消費