0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! M1 E0 ?& ~# t- P; i
Why bank will sell 借據給第三者???
: c. r4 \) I8 QI was so confused.....

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講到尾都係賺錢
! H' n8 h4 K3 o+ {7 c+ dso銀行可以不斷放款
: u4 M' _4 E6 ]* G2 h美國的房貸問題散佈到全世界. K* Y& l! X% a" z
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mortgage loan ' c5 S, ?* b4 r2 T8 T  J
>conduit
, Y& a/ n( T+ i. F: I3 [>RMBS(Residential Mortgage Backed Securities): L% S. q3 ~7 O5 {5 E: y
>arranger
. M4 X, R* }  `% E>CDO(Collateralized Debt Obligation)% R& t0 \3 B& T8 F: @. p
最後去到投資者

Kev

i thought it is the reason of rate of return.
- ?& r" H( ~4 R/ v8 m  uCDs could have different ratings, AAA -> F,0 l+ c" \7 w) Y: x6 [2 D
more risky ones would have higher premium (interest rate) as a compensation for an investment.( v9 N* T, b( ^; u6 z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 }, v' |% \5 U4 O& \- y  m8 `
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ V' K. h/ a5 d2 E. pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% N2 b# p! a% M( b# a
similar to bonds, CDs trading in the secondary market have different value at different times,
. k5 T8 A. H+ Wnormally the value is calculated by adding it's principle and interest.
% {' q9 n0 j  P$ D0 \1 V7 B* zeg. the value of the mortgage+the interests to be recieved in the future.
, c7 Y0 @9 j: q" @, X7 a, w! c; ]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.9 m2 |  `. Y% @# ~) G

( G3 [4 k$ ^3 Z  _5 J' {2 yim not quite sure if the multiplier effect does really matter in this case.) s! p+ v0 O# r( L. }
in stock market, it's the demand and supply pushing the price up/downwards.& z# u) [: N6 L/ m' w* ~8 l( o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 i0 u( o; A5 Y" y- Y" W7 R( zA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 b; o1 b4 v9 G" v' \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 [% V5 k0 W/ S1 o
but the value of their assets did really drop significantly.
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0 \/ i2 i7 h0 T, r7 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.gif- H+ F$ f# b. `8 v5 g* T
Refer to last example,4 B$ n& L/ \7 z4 O7 _' k
that means bank A have no money because we borrow 10 dollars from bank A & ^. A+ k0 g5 `: H; l6 L
Because bank A doesnt have enough cash on hand . b! K% I# B5 \
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* N; G! L' {5 ~1 t1 v5 B# s- _A->B->C->D->E
0 C. L4 q. E+ }/ \* m4 B# Xso does it mean if E failed to pay D,
* e7 }+ [; T$ a6 oall the B,C,D,E have to go bankrupt?
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8 Z  l+ K; s6 M( A. Ethe multiplier just tell how much money created in a whole economy, 7 |, }% k/ F, ]* i) p
in this case it doesnt really matter how much money is created,
4 l  |% ?, o. _3 ^it's the problem of the debt itself.$ x4 c; Z* s2 h. Y
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
3 [- m+ S, `! u4 P4 X( H小弟一直都唔明...3 C$ M$ Q. |6 P  r$ }# h6 c, l5 O
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全世界都蝕錢，咁邊個賺緊錢呢?
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7 A' i9 C0 ]9 d! v7 a無可能淨係有人蝕錢無人賺架嘛...! Y6 ~4 i8 s( T+ N

" B* `1 q7 x, |敬請各師兄解答% r  K( E* e9 _1 p
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Thanks

4 B! l, h, X9 q7 J* s/ z3 }那些根本係 紙上財富  
; J$ b, z5 S/ B" g2 D) p* c- ]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# D& }4 c! v" n$ x) R# L9 g8 q
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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
* R6 S8 b/ q5 N0 n0 i/ L. P, S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 n1 X6 }) ~# l7 {- I8 U# Q
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 _5 b, D9 a' u$ E  l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# G1 y/ Y! m  z; _
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 W' f% q: q/ S6 I( t! u2 a, ^
計番回報率就已經係50%,所以可以好好賺
8 @# b/ D! M2 b9 v# @6 U0 A前提係銀行之間要互相信任先可以咁樣借法3 b! x# O+ [; Y  N% }( V
同埋個市場既前境要係好先得
; W5 O4 t' r, \; |但當經濟一差,公司估值趺了,物價不升反趺
) {) C3 v* \9 D- e例如剛才說10蚊的, 趺到得番9蚊, : O+ K1 D  G  o# o6 w: H% z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) L+ T, [' R3 Q( N: n
所以你就會覺得D錢好似蒸發哂咁
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3 h; L# E& _' M, h/ X你都可以當標野咁諗, 個樣野多人可以狂升值,
- T3 o; B5 @) g) Z+ c& `9 l0 D8 [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,
; w  }2 v3 i; k" t4 u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 t5 O. y( k$ ]
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1 r$ a' E: c/ ~/ ?2 ?  Z- R! Q0 _
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+ l  p+ Z) q- p  w* Q: Z
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 }  I, [" u& S* y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 S, ?$ ?* z% L5 ~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3 ^" n. f$ H  n8 c
咁你話d錢蒸發左去邊? ...

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正係咁樣
6 g, E* e: [! ~# D/ m; P2 w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. V! e0 ^! u7 z
分分鐘佢地唔使還錢7 K. ]. D3 j/ n
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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,
8 U5 N' j, E3 V2 h" \5 H6 q8 f連國家都係問人借, 不停發債券, 印鈔票4 x' i; c& ~: L6 p0 W8 D) K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 F4 r; k2 |4 d: ~! [( a$ 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
' s" s* |* }" r" E1 i$ n  l咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 @9 W# c! `0 n8 A其實係...
4 X9 ]/ w0 \: |" I因為以前未生產, 先消費
2 V$ Q6 R' [9 Z2 {而家就要多生產, 少消費