0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ b- i5 ?/ t2 e1 `9 j- [( m
Why bank will sell 借據給第三者???% k* p" w& V% K3 X! e
I was so confused.....

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講到尾都係賺錢
8 ]" z7 [9 o1 m) w$ A' b" `) T! Qso銀行可以不斷放款6 H$ x- \% ~: u1 Z
美國的房貸問題散佈到全世界5 L2 t0 T% q7 ?* t

' N! {! |7 Y. qmortgage loan
) p0 @% N' K4 Y>conduit
+ w# b1 q& J  ^% s9 Z+ q8 [1 p' K>RMBS(Residential Mortgage Backed Securities)
4 o5 C; ~  x; L9 H>arranger7 ^1 |8 w+ R4 [( k
>CDO(Collateralized Debt Obligation)
: [# Q. ~: ^/ j最後去到投資者

Kev

i thought it is the reason of rate of return.9 H& g9 @3 l: }- B: t
CDs could have different ratings, AAA -> F,
4 d  J, ~+ a; n: a9 vmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ z+ A4 s& g, X9 Z( l$ g+ fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% _6 y' m) x3 Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 j: ]3 T5 V. h( t/ H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% }; ~1 Q! c  Y
similar to bonds, CDs trading in the secondary market have different value at different times,/ w# z8 [! |: p  T# I1 t+ P
normally the value is calculated by adding it's principle and interest. " i% ]3 O! _* ?& T
eg. the value of the mortgage+the interests to be recieved in the future. 3 u5 a, @/ z2 C9 Q5 C) ^9 o
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 E$ e/ C2 K* ]7 x% C9 U$ U

4 w$ t% h4 |' A. y3 e6 oim not quite sure if the multiplier effect does really matter in this case.
% F( b7 U  z! r) \in stock market, it's the demand and supply pushing the price up/downwards.
: U& G; M/ R& [6 sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! l. @. ~# o0 F+ A% A8 \/ |9 U- u
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# \7 N) ^- ]+ i( Z" Y# Y
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.
9 k3 i* Y; f7 ?9 t: o' Tbut the value of their assets did really drop significantly.
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6 {6 n1 K* @' c, X" y, h[ 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. }: l9 n* v" M% A' X
Refer to last example,
1 E4 l$ p3 R8 K8 `! R6 Hthat means bank A have no money because we borrow 10 dollars from bank A # x9 x# k3 b: i: L& S
Because bank A doesnt have enough cash on hand 8 J" B6 P2 ~0 \- ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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) S) v6 ?$ B5 j  R. i3 B/ }6 D* NA->B->C->D->E
2 u6 C! z- G# X9 B8 x8 yso does it mean if E failed to pay D, 5 D2 W9 [: Y2 G4 _  t( y4 b
all 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,
! W2 _, M1 o( G8 Pin this case it doesnt really matter how much money is created, & I% X1 _# c- r; D4 c1 @/ [. y
it's the problem of the debt itself.
& N8 Y# U5 |2 q5 _$ k- mthe 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 U3 v* P2 x9 U* }. E  u小弟一直都唔明...* \% f3 Q& G4 y: l1 \# y
4 i  |# M2 G- n1 M5 _
全世界都蝕錢，咁邊個賺緊錢呢?
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' [0 r/ g3 I" ^* F8 s無可能淨係有人蝕錢無人賺架嘛...; [) a+ }% ?. y' D

  D9 _5 U, B! O6 l8 m! P+ A敬請各師兄解答
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2 U' h2 H7 G: I# j% z  P1 o# j8 RThanks

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那些根本係 紙上財富  6 z5 t& b9 f" b! Y7 A! c8 w
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, ^$ n6 a* Q( \5 o

, x8 m( T, @0 X& {  d) k7 uhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 ^/ w$ Z0 O: T0 N當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 v- g7 O8 }8 H* Z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
) W- Q) k$ N' l' _, {個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 v5 O9 ?8 f! J7 E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 K3 [' Y# W' `7 c( _/ l. g1 L+ {計番回報率就已經係50%,所以可以好好賺
  v  D7 y5 e  p5 C* I# T' _* Z前提係銀行之間要互相信任先可以咁樣借法
5 ^* i) v6 a; B0 Z) S同埋個市場既前境要係好先得
. ^5 ~. w( `9 S- W但當經濟一差,公司估值趺了,物價不升反趺
/ s9 e7 c0 K- h' ~1 [; `. X2 E3 j例如剛才說10蚊的, 趺到得番9蚊,
, J/ e; l  _# z+ S咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. ~- T' b9 `$ k" j2 j% _+ H$ o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, # z( S" \! e. @% l
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, $ W6 l- N1 e4 I8 X# A) k2 D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 i6 A( R+ s* m' u5 L1 V, B
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+ s, d& X  W) p& z  b
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. R* Z7 E6 B& {" @# D' v$ Z9 c3 Q, o  |
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ R5 H% \+ K$ V
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ T# R$ T$ w9 y, 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
/ I+ V6 N2 [5 q咁你話d錢蒸發左去邊? ...

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4 o) S* g$ K! ~8 Z8 W正係咁樣" I' I- i$ _( I- ^5 I
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8 N* N4 o& @+ I2 s, j7 p0 X; P
分分鐘佢地唔使還錢! y/ J! @, G9 f# a
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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 q0 f9 F' a/ U8 W3 c: p2 D連國家都係問人借, 不停發債券, 印鈔票) g. o1 ~; V5 w% v& @& `7 f( I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 [# i- l( w- A8 C; {7 a% Y( v7 _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
$ i2 M. c( ~+ G" A咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
, a+ N3 a9 I- t5 l因為以前未生產, 先消費+ p& @4 T* J$ d. G' N! Y
而家就要多生產, 少消費