0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 D. M/ Y  A( r; W! x0 Z; `- {
Why bank will sell 借據給第三者???
1 ]- H) V0 C8 z" `8 P: i6 uI was so confused.....

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講到尾都係賺錢
$ l8 s9 h5 L, q' ^+ V' |4 {, Z9 ~so銀行可以不斷放款
2 s: I1 L$ {1 q4 q* }6 w! C+ z美國的房貸問題散佈到全世界
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: D# ?  P8 f5 ~8 Omortgage loan 8 ~+ L& G7 H% ^: v$ S
>conduit
5 o4 S( c- O! i* {6 {% f>RMBS(Residential Mortgage Backed Securities)
2 l2 B; s- q/ b! ?5 L( N5 d>arranger0 c( E& U1 I" F# k! H
>CDO(Collateralized Debt Obligation)' p& A* s9 x( S
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 H1 R6 b9 K( ?# e7 H* ~CDs could have different ratings, AAA -> F,; k5 ^5 W! o. y( L+ T/ A8 K8 I
more risky ones would have higher premium (interest rate) as a compensation for an investment.
2 D7 O+ A, p: ^$ w& C. b6 }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. y0 [1 w4 X( L! I2 v' E, _; Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  N1 u" k. f; A0 Z; C1 q! R3 SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ L2 G4 m8 X% T- Z0 I
similar to bonds, CDs trading in the secondary market have different value at different times,) }* `3 z5 A( t" L( j  S
normally the value is calculated by adding it's principle and interest. 2 u7 H" Z# m3 b. @
eg. the value of the mortgage+the interests to be recieved in the future. 5 K/ ?+ b+ O$ `" X! P) S0 n
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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$ D) U5 T4 _" b. J% Zim not quite sure if the multiplier effect does really matter in this case.9 s) W! s3 p5 v  b$ D
in stock market, it's the demand and supply pushing the price up/downwards.) E8 o! |( v+ k+ e( H
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ g. _! n9 w, E5 d6 ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  a& Z8 j8 w, n
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. % o% ^) h7 E. \) i3 z8 v
but the value of their assets did really drop significantly.1 ?6 m5 G$ d, H

+ @$ f' `$ ^5 ?/ ]6 s( Z[ 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.gif6 J# U! c$ x4 H. T3 q
Refer to last example,7 j  }: j; k# r+ w7 _. G; d1 c& V
that means bank A have no money because we borrow 10 dollars from bank A
) d$ B5 U" M/ dBecause bank A doesnt have enough cash on hand * D* H- x1 p  f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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- O3 v/ {. u0 g1 \! EA->B->C->D->E0 C9 e3 u2 Q% l3 ?: x4 q& t
so does it mean if E failed to pay D, . F8 X1 I- q7 s0 E2 U1 @; s
all the B,C,D,E have to go bankrupt?  ~# ]* a$ k( M7 N# ]" q9 z% M

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3 Y- n% |% X% {* I* w4 Y1 K6 wthe multiplier just tell how much money created in a whole economy, . J+ W2 p8 {: l$ O6 L* z9 l3 F
in this case it doesnt really matter how much money is created,
( J3 s( C$ b& p9 [it's the problem of the debt itself.
. C; A" x' a( a% X, x' athe 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.gif8 N2 d9 s8 ?; J/ ^4 I  S9 H% a& B
小弟一直都唔明...
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" @9 C" }6 P: ]0 F4 l  I0 ?# T全世界都蝕錢，咁邊個賺緊錢呢?! p: c5 p  t& z7 Q! M" u, I

' e. Y6 z: F4 z! z- B! o' P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# M7 z) o; P8 f
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Thanks

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那些根本係 紙上財富  
; g" f$ }; |& f" H) Z1 d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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- X, U2 A# i# H6 f8 Hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
8 q5 ?* ?% H/ @* E$ R: L0 @# U% G當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' }  B( Y/ Q$ \# ]# M9 P' I- ?& l
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
( I, }! D9 Y2 r+ ^/ M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! z* Q- i- l; h, l' @( h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 t; a7 {# n3 d
計番回報率就已經係50%,所以可以好好賺
2 ~! x" c% I& e: C2 p$ O前提係銀行之間要互相信任先可以咁樣借法
, q' A$ I$ f- E$ N/ l同埋個市場既前境要係好先得5 g7 z( e/ G1 K' [( A* z/ |3 I
但當經濟一差,公司估值趺了,物價不升反趺! ]3 m/ G* I( d4 m- ~  |' R5 p
例如剛才說10蚊的, 趺到得番9蚊, # K5 I, Y2 p* T8 R5 ~. ^2 K  G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 s1 ?. d4 ~  ^) p
所以你就會覺得D錢好似蒸發哂咁, c# q- l9 R! A; s3 U" Y

7 U# Q/ C9 a, Y, S3 ^/ ?你都可以當標野咁諗, 個樣野多人可以狂升值,
/ |6 a! b+ N( U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, 9 g) O5 J+ P* ^' {. e1 t' E/ v" j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * C! J: [- C# D/ b6 p8 c2 G
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( n- h6 b; d5 v+ O1 B6 [1 I( a4 a
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 ]8 U: i( H4 ^3 ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 I5 k$ H* O$ `5 }! C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, Y* ]$ T- }& Y5 h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 b1 o+ i1 V! H  {# l, N8 ]* N2 o
咁你話d錢蒸發左去邊? ...

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正係咁樣
8 ~/ z( k5 t3 m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1 Y$ l# \8 c7 U( a  d$ j5 a
分分鐘佢地唔使還錢0 C! ~1 l( \: |# T  I) B

! _& y! e) v4 |7 T0 S; Q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 n0 p1 e' C* c連國家都係問人借, 不停發債券, 印鈔票
; N! i2 f& q# D+ k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 ^+ u6 H) O* X8 Q) `+ K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
- ]$ B0 I9 V5 @3 U. @6 ~$ F# s咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 q/ f) k) w: D( z) {  ]+ n其實係...( u/ G/ G! @0 p  x
因為以前未生產, 先消費
9 p) A# Y. E. G  F( p1 l5 [5 f而家就要多生產, 少消費