0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( A( Z* _- {+ y$ x* `) y+ Z) A
Why bank will sell 借據給第三者???
5 u. R! R% o, q) ?# fI was so confused.....

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0 _- F+ N# Q; @: {3 F講到尾都係賺錢
& b) M3 V) A" }9 `- u+ r& |so銀行可以不斷放款
* j% a6 w1 ?- c" Q美國的房貸問題散佈到全世界
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/ a4 W: W6 f  q9 u. o! L, Vmortgage loan
. Q, ^# d7 {  u: m# ~2 P>conduit/ [/ d% T6 a, B
>RMBS(Residential Mortgage Backed Securities)) ?" Q1 a' n; {, L' q
>arranger
6 ^3 C7 N$ ^% G. h) q>CDO(Collateralized Debt Obligation)
( d& b/ I9 r3 R* H最後去到投資者

Kev

i thought it is the reason of rate of return.
  G2 n& Q9 k, K* {CDs could have different ratings, AAA -> F,
* t: z! B1 }! L  g* r, Wmore risky ones would have higher premium (interest rate) as a compensation for an investment." q4 I6 B4 _- k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- x9 {% ^" i6 P7 m3 t# a! Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! O1 @' y4 o9 H  ^/ w: N& r. L2 Q9 }' ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 x; E( m0 Q4 _6 n+ W" T
similar to bonds, CDs trading in the secondary market have different value at different times,' G: \9 n$ ^& a4 u3 z  ?
normally the value is calculated by adding it's principle and interest. " G+ n2 w0 @$ N% Y, p* v
eg. the value of the mortgage+the interests to be recieved in the future. 7 J+ ?' f9 q0 s* y
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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: q0 @% M, d7 p+ ]2 f$ a5 Q  ?im not quite sure if the multiplier effect does really matter in this case.9 i8 f- O. o7 K' F
in stock market, it's the demand and supply pushing the price up/downwards.' A0 H- ?- |- [" F2 {9 o4 e
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% [. C) X# g! Q7 \9 v4 Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. t2 l( l3 b: EThe 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.
2 R3 J; M2 P% ?+ b* q. N9 d8 rbut the value of their assets did really drop significantly.
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: d' ~3 a, r+ E0 M; Z+ Y[ 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
' R7 |5 S3 Z  B) b; U# l. `Refer to last example,
7 `" {7 {- w5 T( j1 h* bthat means bank A have no money because we borrow 10 dollars from bank A
1 M! j& e3 {3 d0 ^. y) w' p& CBecause bank A doesnt have enough cash on hand
2 A2 w# F" @" t/ c5 utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ a' \2 D( n# \# x5 q. QA->B->C->D->E# k0 I+ x9 A; G% p' ^2 U
so does it mean if E failed to pay D,
0 y! \8 l5 N4 K1 y1 x) F+ T* C% Qall the B,C,D,E have to go bankrupt?; {# E5 I) {  t# F2 _
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the multiplier just tell how much money created in a whole economy, 2 C. B7 A7 H  \3 |9 Z
in this case it doesnt really matter how much money is created,   A; L, ^5 I% U: M6 X
it's the problem of the debt itself.+ f# u8 y8 L, u" s3 \# Q, u! i
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
1 O9 {7 Y! h# n, D- }: P小弟一直都唔明...
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2 Q, s; Y2 M* h! X5 y全世界都蝕錢，咁邊個賺緊錢呢?
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0 @) }+ l5 I6 {: s+ ?# R% \無可能淨係有人蝕錢無人賺架嘛...4 Q" \3 b7 p7 V" K1 S& C7 B: J
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敬請各師兄解答9 P- l3 c2 g# n8 q) ?0 I) w
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Thanks

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那些根本係 紙上財富  $ `. s* S0 f* q* ?* o
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: [4 ]$ {. f6 B: V6 M6 @
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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# F0 k# J  ^) b# g9 `! ~6 w' _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' u( g8 }3 a9 o( R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
" X  i% C" c3 q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 }8 k3 D: D) ^0 V5 C  _+ R* Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
* p  V5 _+ G0 g# s計番回報率就已經係50%,所以可以好好賺
. _4 O3 G: t# H1 R- |前提係銀行之間要互相信任先可以咁樣借法
! C6 _% Z: ~  q0 N同埋個市場既前境要係好先得
* t' u4 G# o3 T$ P. g) W但當經濟一差,公司估值趺了,物價不升反趺
$ \2 k5 \& ^) i: k7 W4 U例如剛才說10蚊的, 趺到得番9蚊,
/ v  _  |/ H* a9 v# d# a1 F) D咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 X$ q/ [+ H; Y' }$ p! g
所以你就會覺得D錢好似蒸發哂咁
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. ~) t' E0 U" L你都可以當標野咁諗, 個樣野多人可以狂升值, / @0 z: @3 l, l' v3 R- a0 Z/ Z
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,
5 M" e  w2 R" J  `4 q* c淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. `4 S% x! G* O  M. y/ \- \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 U, w) U1 l1 F. z: X* x# v
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, O/ t/ m4 q# Q" D( t) ~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 V5 P+ e4 ^' J8 u0 A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 K: Q* ~' a9 }5 F! k% I
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+ r8 P9 U0 r% K; @0 w' y; W
咁你話d錢蒸發左去邊? ...

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正係咁樣3 [+ f* {- ?6 K# N: H0 w2 ?
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& b4 |- C, b2 `$ R+ u
分分鐘佢地唔使還錢
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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,
; p3 e: l  O  d, P連國家都係問人借, 不停發債券, 印鈔票9 P& ?  m" m8 l7 `: f' W( B2 O# W4 R0 S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 g4 \+ x; X' r  }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.gif2 X9 R. z( s' n% m' v& i% \. k7 W
咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 r* j; F: z- r2 O2 e# t9 Y其實係...) W) \) b! p& H3 F8 C
因為以前未生產, 先消費
$ M0 Z+ V& E' B7 L% |) E而家就要多生產, 少消費