0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ K2 a4 j* I+ g% E8 O& B. R9 I
Why bank will sell 借據給第三者???9 R7 ?+ r! n) r4 X( N* ^* q
I was so confused.....

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7 f! R0 }) V& u% N$ h講到尾都係賺錢
2 [; r  O6 k# N) M" \) T) dso銀行可以不斷放款& x6 S# F- l- v' ^
美國的房貸問題散佈到全世界' B2 @& R% q  @( l" J7 S7 k
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mortgage loan   r7 X3 n8 j6 @1 w4 B
>conduit# S% Z& V9 e/ W7 K
>RMBS(Residential Mortgage Backed Securities)
3 L( b7 z, W  {3 A2 r' E$ Y>arranger1 V6 e' j/ p5 O: u3 N1 d
>CDO(Collateralized Debt Obligation)
* f* s3 e0 `: b! t9 G; S( G# Z最後去到投資者

Kev

i thought it is the reason of rate of return.
# U# z. C& Y6 t7 R# tCDs could have different ratings, AAA -> F,
' b1 k# y/ ?  _. ~more risky ones would have higher premium (interest rate) as a compensation for an investment.- |2 k6 }2 J+ H6 z0 A8 R! |, r+ w) X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," w( h* B7 z  K- X4 G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 @; e& D: e9 B  ?1 Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 S% k! X6 c8 j  b: ]similar to bonds, CDs trading in the secondary market have different value at different times,; w* W1 P% x% i3 f  ^
normally the value is calculated by adding it's principle and interest.
" R. h* k- |' s7 x- r) beg. the value of the mortgage+the interests to be recieved in the future.
1 a" }& k9 D3 {. |$ lbanks 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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) p9 P+ l3 p* j6 \im not quite sure if the multiplier effect does really matter in this case.
" t* {3 t1 F$ o( P$ _$ J6 k/ Lin stock market, it's the demand and supply pushing the price up/downwards.
: p6 `+ j% P% K. B8 }  LFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" B( ^7 p2 l# q& R& u; ]( o0 r8 nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." G7 |. Q+ q% X+ {
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.
% t/ @$ D( {- }: Ubut the value of their assets did really drop significantly.( Z! w# ]; ]7 X2 N

: w& x) p) {# E+ s/ R9 b/ C[ 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.gif0 V2 U9 J+ N% X
Refer to last example,
* z7 ]. h! m# z7 q3 Tthat means bank A have no money because we borrow 10 dollars from bank A 6 l- B; _6 b5 S( X' N" |
Because bank A doesnt have enough cash on hand
4 l! Q; `  d5 E0 u# ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E  M; c. F1 y$ ?& }$ @  P, n) \
so does it mean if E failed to pay D, ( j& n; G1 ]5 L5 Q- \9 i* d( G
all the B,C,D,E have to go bankrupt?. ]% M% L# t& f9 K8 J8 J0 K
& E( t$ d7 X# w

5 N/ ^- S1 W5 Z, l# P( ethe multiplier just tell how much money created in a whole economy,
2 Y! q+ Z% N$ U) Oin this case it doesnt really matter how much money is created, : x; o' N2 V& F* E
it's the problem of the debt itself.# F6 L5 b) m, m0 @+ ]; u0 Z
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
0 V* j1 m5 x; N小弟一直都唔明...4 y8 X6 `2 o+ n
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全世界都蝕錢，咁邊個賺緊錢呢?- w* \; X" _. Z1 a
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無可能淨係有人蝕錢無人賺架嘛...# c$ P* b2 ?: H) b  q: R
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敬請各師兄解答/ [# o" H% w9 s: @+ M1 b
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Thanks

3 C1 O$ D6 g. Z; g" h! D" |那些根本係 紙上財富  8 r9 Q/ t& A0 O2 K
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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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
4 k) T, e" S, K% n- b, p0 A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 c* O9 [6 @" p, }5 w! U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
- H6 V0 @3 w& g9 _! j9 c- A1 k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" L( h) t6 i4 X1 @* `: c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ k+ K: n; M1 v/ A
計番回報率就已經係50%,所以可以好好賺) k+ D5 Q. q$ K4 ^- w0 L1 n6 D" z# t
前提係銀行之間要互相信任先可以咁樣借法
8 N% q+ g: V' c1 X( q同埋個市場既前境要係好先得
) S- u2 c: k( E5 e但當經濟一差,公司估值趺了,物價不升反趺
. F) d6 A8 ?. }% l$ C例如剛才說10蚊的, 趺到得番9蚊, 6 B. U: Z4 W8 F: V3 D( j
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" H& C: b! f+ x2 {4 @0 i+ ~$ E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,
. a8 n, N6 T* `. h) S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,
. I3 h) W/ V" `! T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' T3 R0 i" n- t7 i- k( R( E+ l' C
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# q$ ~9 |/ t; H5 Q
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
9 m- Y" \# U9 v+ B. m唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" e0 l3 O5 O$ h% Q  L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: S4 _, K- a2 ~) {; p, 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
7 [& Q5 P* b' C) X. u咁你話d錢蒸發左去邊? ...

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+ h+ S2 j3 K3 X$ x1 p' D) B正係咁樣
; A7 O  l) s1 _7 ]& R1 y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 V" n( D" s9 c: N) R
分分鐘佢地唔使還錢0 y1 I) m- i: G. J
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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,
4 i' I8 m% R5 N7 ?% E連國家都係問人借, 不停發債券, 印鈔票
1 ?4 s* S- E- I  I7 [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ N8 Q- z0 a% A6 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.gif; n7 q+ |/ f% J8 V0 ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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) y  \) m" x" {! f+ W, L6 K其實係...5 E- F5 |# w' ?% y
因為以前未生產, 先消費. k; l/ ~# i7 p/ d. G
而家就要多生產, 少消費