0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  y/ B, u0 ]' E4 }  s" t; X& v
Why bank will sell 借據給第三者???$ J1 S! |9 _' |& h; d$ ?$ n  R
I was so confused.....

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講到尾都係賺錢% t/ y' k0 T2 `  p& K
so銀行可以不斷放款
* S( S9 p2 {. }( P美國的房貸問題散佈到全世界% M. g/ F" q$ f* Z

4 ]. P5 R% T* {mortgage loan ; U4 D0 o# N+ S2 S  o) D1 ]
>conduit
5 Z; l( P$ \1 \' y8 U( [+ i4 X>RMBS(Residential Mortgage Backed Securities)
+ w0 |# K7 [" d9 \5 p# f$ P) a4 u>arranger2 G& K3 c' x6 r! d' K
>CDO(Collateralized Debt Obligation)
/ ], r" C8 D: G最後去到投資者

Kev

i thought it is the reason of rate of return.' D! E4 ]6 x8 K7 {
CDs could have different ratings, AAA -> F,
1 v1 N# [8 I+ Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
5 p" {. Z! O( S2 }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ S: G# H/ N# Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: S% W3 C- m$ v% x- z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 b7 f% s3 Y' `% D8 Q# g! }similar to bonds, CDs trading in the secondary market have different value at different times,* }) k( E* e" G& B
normally the value is calculated by adding it's principle and interest.
; W6 p9 R8 p! h# Deg. the value of the mortgage+the interests to be recieved in the future. 3 v2 O- R8 L2 `2 I
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.4 c" C" m" z" Y2 T
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im not quite sure if the multiplier effect does really matter in this case.! q  d* n* i; @, D4 A9 p/ v
in stock market, it's the demand and supply pushing the price up/downwards.
2 e8 [' ~4 O' h% q( vFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, c! v: R$ j6 g" r6 |, z: {A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 S- `: I& q( C7 S9 a+ e
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. & P% L/ l- x8 f8 [% e6 x" Q
but the value of their assets did really drop significantly.+ a6 p! c: Y' U" A$ Z, `) G2 [" m

+ w5 |+ t6 ]2 H4 J/ R9 E* E. B4 e! S[ 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# A1 T2 \+ |. Q! t' N4 Q
Refer to last example,
6 K6 U4 b' C5 Othat means bank A have no money because we borrow 10 dollars from bank A
; N/ O: K! ]9 x: M  q! K& j) iBecause bank A doesnt have enough cash on hand
% l, _  ]; e3 k  K+ Y/ g* Ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ }# a/ ?! M& i. L5 WA->B->C->D->E$ e7 _8 }0 x) \7 {: Y0 H5 F8 q2 Z5 {
so does it mean if E failed to pay D,
9 W( k# D) p; a0 p5 Oall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
, E; i) N7 ?3 L# Iin this case it doesnt really matter how much money is created, ( o$ b& O* u& M+ F& ]; J5 I
it's the problem of the debt itself.
+ k' }& Q4 D- p  ~! |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
! b1 |3 r) R6 T小弟一直都唔明...9 V/ n# C$ h% C$ m

7 S+ i! _( ^4 v- j& D全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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, r. o! v' V* ?% D* m, e! s敬請各師兄解答
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Thanks

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那些根本係 紙上財富  , V% s" }" ^* X4 p( L
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" I$ {, P5 Q& b

; T3 \& p  ^6 Q) N& vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  Y9 D) o( A* R9 g5 m, A
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, A8 ?: }' w& {
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0 g: l* w% [, m0 y+ _9 P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ B( ?. c/ Q/ a
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ d- m; R; N9 I$ V3 w$ \: Y計番回報率就已經係50%,所以可以好好賺
0 y7 o' L' w7 ~前提係銀行之間要互相信任先可以咁樣借法
9 p8 c6 u: }& b9 ?/ F% k, N# d同埋個市場既前境要係好先得8 H$ n. s; a* F& [" ?/ b
但當經濟一差,公司估值趺了,物價不升反趺
. P2 k$ J) I1 D7 j) J# A例如剛才說10蚊的, 趺到得番9蚊,
% C4 l8 t2 w1 w% V' n$ b0 Y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" \, k1 N2 _9 A- t% I6 z; h所以你就會覺得D錢好似蒸發哂咁7 X$ D$ Z. n  R  I# s4 j% Z

. |1 g/ ^: d( a; \# i你都可以當標野咁諗, 個樣野多人可以狂升值, 0 A0 Z+ D2 N1 Q8 m- 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, " Q/ h( `& g$ b/ q9 W' T3 K
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) d0 w1 n& F% 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; V1 X( R( s4 h7 }4 V  t/ \
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.gif9 {5 u6 y3 d& F- L
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 i+ G( ]. {. v/ F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ f" P8 b+ b) y9 [
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
9 y4 b) R! v6 l1 E咁你話d錢蒸發左去邊? ...

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" e% |8 U2 u6 g2 k: K正係咁樣5 i( v( Y3 r1 j6 G
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
+ }2 I- a3 e+ S8 r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,# u1 A- |, g/ @" x
連國家都係問人借, 不停發債券, 印鈔票
4 o, q2 _# X$ W一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 |8 p" w1 N' t+ C8 ?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.gif7 O) D4 i# `# E/ N3 |0 v$ Q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...' O% m( ^1 `0 k% `3 e  x6 u/ G
因為以前未生產, 先消費% t9 Y8 m' X1 w9 T0 O  ?% h
而家就要多生產, 少消費