0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- u3 v' A7 t+ j$ _: AWhy bank will sell 借據給第三者???- l$ L+ O  E/ l- M$ m
I was so confused.....

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講到尾都係賺錢
0 p  Z6 K8 L% T1 _so銀行可以不斷放款
, g* O6 b+ ?8 @1 [" q& r* _美國的房貸問題散佈到全世界1 ?) z- q& d! H! D  ^2 u
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mortgage loan
- p( A8 V' \' ?>conduit
9 ^% a3 V2 G3 e9 r: @. x( H>RMBS(Residential Mortgage Backed Securities)0 h8 Z( ]9 x' \  W
>arranger- V6 M3 R' s0 [0 S4 e" E
>CDO(Collateralized Debt Obligation), v1 u  c$ |1 y# N
最後去到投資者

Kev

i thought it is the reason of rate of return.' m" v1 j- o9 Q) J: |( x. @" s
CDs could have different ratings, AAA -> F,
& j% N9 E9 i& ^, z/ O( j: C; }more risky ones would have higher premium (interest rate) as a compensation for an investment.
/ \- w, o# t: v( _+ \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 ]* ~' E& B( E0 m2 L6 ]% p  O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 ~# b: l2 _; o! S1 T6 {8 R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ u/ [5 t+ H/ E( Y! S- z* asimilar to bonds, CDs trading in the secondary market have different value at different times,
7 ?; R. R) e* ?+ g( q$ Tnormally the value is calculated by adding it's principle and interest. 7 ?$ m( l' f2 Z- T6 e# {- o; _/ M% @
eg. the value of the mortgage+the interests to be recieved in the future. ; @, E* e" z/ G2 F: m. `( \
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.
0 D1 `/ f2 s( {' P% win stock market, it's the demand and supply pushing the price up/downwards.. Q) X  n, g$ Y3 W% U7 h- K5 b3 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 N$ o, |0 S5 F9 L- ?! I1 J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 a6 Y2 ~, v' C$ W
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.
+ h4 [  }/ ~$ c) H/ G  Mbut the value of their assets did really drop significantly.8 R" ]- N9 p* ^# Z7 Y3 B' F" h

6 I: @% a+ Q+ ]7 N9 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.gif7 [" L% k+ i- Z0 M/ _, X- i
Refer to last example,
- ]* {# I8 @; H4 v2 jthat means bank A have no money because we borrow 10 dollars from bank A
( a7 e* a/ c( p6 @4 f+ CBecause bank A doesnt have enough cash on hand ; _0 |; G; `, t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ h. b0 v3 x( b2 J$ R- X7 aA->B->C->D->E
$ |# ~' ]" X. q2 ~so does it mean if E failed to pay D, & \, z' X  _8 T3 }1 u+ T0 p
all the B,C,D,E have to go bankrupt?. I$ Z- b. p, p- ]3 y8 y$ u# U
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) c* S; F/ m3 Sthe multiplier just tell how much money created in a whole economy, ' s. J7 \' I4 q6 L7 g. {% W
in this case it doesnt really matter how much money is created, 7 q$ b+ i8 q' G( [. w( r! d/ @. p
it's the problem of the debt itself.
: C! B, E- g' S; I" lthe 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! p" J3 ]+ j" b& V. s7 F5 [8 n. ^
小弟一直都唔明...
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0 h1 p  x8 \1 r' U5 _3 e/ l全世界都蝕錢，咁邊個賺緊錢呢?
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5 W0 l9 W4 ?' i1 x3 Q0 Z: O- Y. P  m無可能淨係有人蝕錢無人賺架嘛..., y" n# k1 i' Q+ x8 m: K) B

* D/ ]' l3 p8 e* c- y( Z  r敬請各師兄解答
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Thanks

1 `6 [8 L" R: l5 w那些根本係 紙上財富  
9 q3 H/ k4 `0 a7 \7 P& K  g) Q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 graphic0 Y- [$ f0 I' S2 `
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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/ _' q) `8 P% c) ]$ Z& M
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 M0 V' B/ w( s4 t
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" V' d! ?* k' k0 L6 `0 k1 V  ]* o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! y+ W% r; F6 R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' e$ K" J9 v7 e計番回報率就已經係50%,所以可以好好賺+ F: h  R+ @9 x& _# K  b0 N
前提係銀行之間要互相信任先可以咁樣借法
& y4 ]/ X& o$ j, J; v1 z3 q! o同埋個市場既前境要係好先得
7 l8 {3 e9 n/ N1 G% }6 Z但當經濟一差,公司估值趺了,物價不升反趺
: z$ D" u5 M( F; Y5 M例如剛才說10蚊的, 趺到得番9蚊,
, ]* X! `. K- [+ a% v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
5 A$ `0 ~  ^+ y  L% ^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, 0 {  z# X5 w. J2 }* h
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,
7 H# I! z+ w1 R+ O9 C8 Q; g: [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 T3 t# v5 Z7 c$ J0 I$ U: Z' T
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% ?  [6 {  G- w0 y7 b2 U
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 t# q5 y$ `3 _+ b, w& c, A3 H" N" T
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * O( z; `# U: A( @6 t9 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : d1 F6 N( @) L! x' ~' 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
+ \/ f0 R5 _: W8 t/ |咁你話d錢蒸發左去邊? ...

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/ b% P! S+ L+ J; P正係咁樣8 w; k$ z4 ~2 j, n% Z
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
, Z, L5 U+ p" X% H& h/ M: \& K分分鐘佢地唔使還錢: {& l* y" t! R1 J) 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,  P6 ^7 m9 T+ }* P% E
連國家都係問人借, 不停發債券, 印鈔票  i9 h2 a; J1 J4 d2 _, y4 d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, H3 A+ q) `3 ]2 |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.gif3 A! O6 P! s8 b; j+ y( U
咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 Y: f8 T7 K. s8 D其實係...
& K7 T, @/ ~) N1 _( K: C- P8 h因為以前未生產, 先消費
) U$ K- l! P! L5 |  }) M4 g$ C而家就要多生產, 少消費