0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% U0 c$ J( D, H
Why bank will sell 借據給第三者???2 c7 b2 O# v& A
I was so confused.....

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% C2 U1 s0 v0 [- O- H$ G講到尾都係賺錢. p( p" G; H7 R) [
so銀行可以不斷放款
" C0 m! Y" P: r3 E: q/ |5 K美國的房貸問題散佈到全世界# Y) Y$ J" c8 [/ u+ X! A! ~

! u1 c! {9 ^! r/ y) E1 z2 Umortgage loan : b- M4 G' b% Z# ^' n
>conduit4 \* i! |0 b+ T  [
>RMBS(Residential Mortgage Backed Securities)
+ T" U0 C/ Y7 ?" i, G+ f>arranger
, R  F; x: X3 Z) m>CDO(Collateralized Debt Obligation)1 _7 d8 j" E$ v4 }1 G- E
最後去到投資者

Kev

i thought it is the reason of rate of return.8 H. R7 b; F3 c, m. C
CDs could have different ratings, AAA -> F,
: O7 m8 c& @* B7 y: zmore risky ones would have higher premium (interest rate) as a compensation for an investment.( ]1 r) h: |+ q3 Y3 f5 @) B8 u
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' h# H& o: }% h* Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: R8 ?; G  o3 I; s) OAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 z& ^0 |2 \" T7 v1 z) esimilar to bonds, CDs trading in the secondary market have different value at different times,2 x$ x& H# Z5 J/ k8 J" }- b' `
normally the value is calculated by adding it's principle and interest.
8 I  R4 F7 E7 e$ g1 A* ]eg. the value of the mortgage+the interests to be recieved in the future.
7 w  ]. S8 [& J  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.) G2 x1 u4 }& J: F& M) L2 v0 w
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im not quite sure if the multiplier effect does really matter in this case.
9 h! L8 o' C) z; D+ N$ X' tin stock market, it's the demand and supply pushing the price up/downwards.
" m2 X! t& R) Z. lFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 ]( E* q8 t& h) q$ @
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 B6 c0 R" y0 w+ o" ]- h! ~# n! P
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 A& `: K& H! W9 L3 W5 g
but the value of their assets did really drop significantly.6 k8 l8 p% r- p7 u  I
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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
$ ~5 I5 Q% {) b8 xRefer to last example,
8 b: O& c" A. Z  [' Bthat means bank A have no money because we borrow 10 dollars from bank A
# I' v, Y- w$ W, X1 p1 pBecause bank A doesnt have enough cash on hand
( N, N7 g1 e+ g6 k5 }$ B6 O) btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ y' L6 `* [- j2 f0 M8 a; wA->B->C->D->E
7 a0 A: ~: V1 Hso does it mean if E failed to pay D,
/ U! _" G' d' ?' ?4 G2 yall the B,C,D,E have to go bankrupt?4 a3 K* {4 j0 k+ _6 v

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. ?( ?( d- a# E, m+ I9 P7 Mthe multiplier just tell how much money created in a whole economy, ) J: b# w0 B8 O3 c3 F
in this case it doesnt really matter how much money is created,
4 O; M% K' k) d, R# U" Nit's the problem of the debt itself.5 c: a  \% e9 L! T
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  R; D0 W; k7 s6 Z' A小弟一直都唔明...( \) W1 P9 t4 x  O0 k

% }' J3 ^* \1 A6 f全世界都蝕錢，咁邊個賺緊錢呢?3 C3 N, a4 R: g7 ]$ W' X
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無可能淨係有人蝕錢無人賺架嘛...8 |, |! `6 Q# {% B6 \& n! f
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敬請各師兄解答9 P7 ]" N4 E/ o* C( F
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Thanks

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那些根本係 紙上財富  
) \  @! c) N. D6 n1 B1 W; V) Q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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+ N3 A* s7 D# j2 Fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. i9 J6 L( D- `8 O! y/ a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 I' j+ C9 |* O0 f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
. a, \0 W* y3 G( ?, p6 q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& n2 T! u1 M, p  X' j- c7 H* t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- S& ?& W8 u1 \$ o5 G" T
計番回報率就已經係50%,所以可以好好賺
4 [) t. c( i3 x, V( U* g前提係銀行之間要互相信任先可以咁樣借法- [, v; O, {- L" s6 l" o% `) X! V
同埋個市場既前境要係好先得* `, h/ L. O9 B9 T0 c+ {% b
但當經濟一差,公司估值趺了,物價不升反趺) G# V2 g  F$ l5 |. z* w
例如剛才說10蚊的, 趺到得番9蚊,
) O& k9 \. E$ i3 M* k" N咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 t' t7 v2 n  O4 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, / d! f, d8 U( }2 C' T  K, J
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, 8 [3 R* r( z/ e1 `3 W6 Q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 n% H9 |" y* u8 [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+ _/ c5 M8 k4 R% Y, R% T8 M, x
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
8 o& y8 c& V5 U8 g唔係d錢蒸發, 而係比美國佬洗晒未來錢, % b3 Y+ Z. M) Z! L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- L. V9 c, l1 d% b7 p. z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 q: T+ c) y& n) K& K0 \0 U' _咁你話d錢蒸發左去邊? ...

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正係咁樣5 h6 O7 A! d# Z5 x
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 Z* r+ i5 q, B7 Q分分鐘佢地唔使還錢& K& P; L+ d/ j& d: R# h
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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,2 X4 q+ Q" a0 i- r9 H+ T
連國家都係問人借, 不停發債券, 印鈔票2 i- _" s! c# _. J" n* I4 c5 _  L# T& X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% F6 |; C# ~2 `; ?
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+ R. E9 l: Y- q, c9 B  U: J$ `
咁而家"爆哂煲"算唔算先至係變番"正常"???

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: R; y+ |; O9 B: r其實係...% ~( T4 i. z4 u/ Y. H  K
因為以前未生產, 先消費
; I  \- s4 A. b而家就要多生產, 少消費