0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 @* p4 P  G& W/ W* n
Why bank will sell 借據給第三者???
2 B0 k8 B3 W7 EI was so confused.....

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講到尾都係賺錢
9 o2 V3 x& Z+ B) {7 Q' \so銀行可以不斷放款
& T, s1 Y2 s7 {  p& |% p$ L美國的房貸問題散佈到全世界$ Q( [6 M8 x+ n6 A8 ?' \/ V5 Y6 S

: H7 F  E& C6 T+ ?; _9 Z/ Mmortgage loan 2 P0 v; O. n# L( g/ f( W& Y1 y' t
>conduit
, r2 S7 I& ~6 l, K8 e! |>RMBS(Residential Mortgage Backed Securities)
0 u+ \4 E6 J9 ^. Y% n>arranger  e/ ?  Q  e' q
>CDO(Collateralized Debt Obligation)
1 }4 y# d! j* `/ p: Q最後去到投資者

Kev

i thought it is the reason of rate of return.! m& T/ D. y' Q' |+ ]
CDs could have different ratings, AAA -> F,
4 G4 k/ w3 f- P2 I# t: W% Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 Z# m6 M5 Y4 x: A4 H0 @5 bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ x; \7 x+ G& _; iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# _# `+ ]6 i; W, z3 D4 ]( U
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- \# {# z1 `4 z7 p+ Q# f! F. h
similar to bonds, CDs trading in the secondary market have different value at different times,
3 n0 h4 P/ j% b3 G6 k" dnormally the value is calculated by adding it's principle and interest. ; l) K0 |! g* I8 T5 E) t
eg. the value of the mortgage+the interests to be recieved in the future. 7 D& L8 a; M2 m5 t: h
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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im not quite sure if the multiplier effect does really matter in this case.
6 z, }- u7 v- x/ ~8 I; tin stock market, it's the demand and supply pushing the price up/downwards.
" b( `8 \  k9 J3 Q/ W% `For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) b5 g3 ^/ Q: ?, v% ^0 W! @1 J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 `1 W5 \& J0 l# 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. + T7 T* o7 K# b
but the value of their assets did really drop significantly.
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5 `+ y7 y- K. r[ 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 f' ]! J' z) U! f
Refer to last example,
- f$ ?( S3 Y4 i6 bthat means bank A have no money because we borrow 10 dollars from bank A 7 q& X/ v. I' |8 o; r! L9 j- i! E/ J
Because bank A doesnt have enough cash on hand . c. [$ V* \- Z; h1 r
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" U: n6 V3 w! L& C8 c) BA->B->C->D->E1 F" ^; u) T9 ?7 a' [
so does it mean if E failed to pay D, ' i) N! A  Y' m. w
all the B,C,D,E have to go bankrupt?( O" V" x. i0 }+ x4 U1 [% B

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the multiplier just tell how much money created in a whole economy,
/ R& ?" I/ F4 hin this case it doesnt really matter how much money is created,
' d0 {0 {: @( o5 A' I! pit's the problem of the debt itself." ~2 `) X7 n$ 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% O1 j: n. ~- @/ I$ W) i2 j
小弟一直都唔明...
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1 U( e" i* N" n. D全世界都蝕錢，咁邊個賺緊錢呢?+ j, ~' Z6 C8 c- W" T1 w

  y3 Y7 p+ M( o! j. Z; K無可能淨係有人蝕錢無人賺架嘛...6 I- u! F; a; n
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敬請各師兄解答2 R! z  L9 U/ S0 _% _: T) J# ~
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Thanks

- h1 F; ]0 O. q4 G1 W* {) P那些根本係 紙上財富  
) _) b4 y! t2 j- s0 S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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: O, C6 c- E. L2 I0 Shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產; f2 x% j# p! ]2 ^3 i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* O: \: `0 [6 ?4 e+ A7 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
- O' a9 }4 c& [3 O# z% Y; H個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) ]- I4 s: ?$ W- C扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& @. M' k/ z& v/ A
計番回報率就已經係50%,所以可以好好賺
5 n7 S( p; M) {% P- l2 i前提係銀行之間要互相信任先可以咁樣借法- b3 |- J1 d9 r' o3 `
同埋個市場既前境要係好先得. z2 l5 x) w' g1 U  U1 V
但當經濟一差,公司估值趺了,物價不升反趺
: |: J) s; k  k0 O) h* V例如剛才說10蚊的, 趺到得番9蚊, 7 W5 l. B/ Z) d6 e$ D( k; N5 B( {
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, y3 C# r$ \( a* ]+ y
所以你就會覺得D錢好似蒸發哂咁
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3 Y8 T! D5 a, A. |6 T% Z你都可以當標野咁諗, 個樣野多人可以狂升值,
& g1 I/ c( E/ |3 D4 ~; {1 N# c, k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, 4 [' {6 i% E2 ^/ U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' @/ X1 J' ^  S7 Y3 M+ C9 s; @
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+ G9 P& w( o8 D) w1 E
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; x- F- \$ n& h6 k- w/ ]. E% v( p- y
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; R2 ]7 }4 \: `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( t. e( _- p" J& f; L. Y- r/ O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5 @3 \' Z1 q, G$ {
咁你話d錢蒸發左去邊? ...

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正係咁樣
$ t5 R$ ~" Z: v, }& [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 \! ^( x8 z% Q# P: \2 j分分鐘佢地唔使還錢
+ b+ q& j/ n' T$ y& n7 `, t, Q% C/ G4 t3 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,' n6 D  O/ J7 s1 V3 I- R; q6 f; s
連國家都係問人借, 不停發債券, 印鈔票3 {+ H. {# k/ H! [; _
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. [4 f( f/ F1 R; K' M% i
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/ F0 i$ d* @2 T4 `1 S; _9 A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...* R# Q( e2 u9 L5 ~" N* o( z
因為以前未生產, 先消費/ c6 x- u0 `2 E$ }! H
而家就要多生產, 少消費