0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) M2 f" Y, l& J. G
Why bank will sell 借據給第三者???, d$ U* r$ q5 U
I was so confused.....

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講到尾都係賺錢
% g( E! T  j' C# y1 Vso銀行可以不斷放款1 d, {: j- i/ x; E1 r& P
美國的房貸問題散佈到全世界+ N2 g! P! }0 g% t3 \( v
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mortgage loan 8 f: z( K. A$ N9 Z; b9 F6 o
>conduit
% I5 F- B( x( z  W% q- e4 m>RMBS(Residential Mortgage Backed Securities)" m& M& i3 {; r+ S( |7 g
>arranger5 T, p' A2 u) V
>CDO(Collateralized Debt Obligation)- [' t) `$ n1 `. m' M9 g- _
最後去到投資者

Kev

i thought it is the reason of rate of return.) m2 M3 K, q+ @
CDs could have different ratings, AAA -> F,
8 i. G5 m) O- @  G4 d, c5 W1 ?more risky ones would have higher premium (interest rate) as a compensation for an investment.
! o7 Q7 C2 b1 N% \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 F* Y  S4 N$ ?7 y! I8 i- r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  h- b8 \0 w5 d% T$ j! f( b' |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% N( U5 Y0 H3 c) I4 x, _similar to bonds, CDs trading in the secondary market have different value at different times,4 Q* U" g. p( b# ]/ X
normally the value is calculated by adding it's principle and interest.
4 z. ^2 D$ N/ ?  deg. the value of the mortgage+the interests to be recieved in the future. % g, D9 h% F1 t" _5 B! ?6 b8 W
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.
( H+ o# b8 j5 K1 A0 Y- win stock market, it's the demand and supply pushing the price up/downwards." S) }, ^- Q0 |1 F# b' x
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 M9 R3 S! f5 H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 i5 l' s5 W/ \# k/ {& wThe 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.
! C6 P& X5 ?. Q2 B! K# C0 Tbut the value of their assets did really drop significantly.
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[ 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
0 a. j1 N2 ~+ t' W$ IRefer to last example,
5 h$ U8 {9 Q* L" E7 H( Mthat means bank A have no money because we borrow 10 dollars from bank A
0 Y2 E" O# h* [+ q; o9 |' CBecause bank A doesnt have enough cash on hand $ {$ U5 Q3 f1 {' t/ p1 I4 B: d, [. O2 q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E# h" S" a" [! ^
so does it mean if E failed to pay D,
$ Y5 \1 x7 h2 F0 Wall the B,C,D,E have to go bankrupt?
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2 _! `* o, r. _( N! L$ z& J, l1 ?+ uthe multiplier just tell how much money created in a whole economy, - I! Q: |6 M. P3 O8 ?
in this case it doesnt really matter how much money is created, . p. s; j4 T/ h8 X
it's the problem of the debt itself." o+ F9 l2 E" L1 }
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
; W0 T. |9 r' M. Z" \小弟一直都唔明...
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. P5 E! C% o1 Q% ^( b* V全世界都蝕錢，咁邊個賺緊錢呢?
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$ z- G; _0 ]9 a# d/ J6 p( o無可能淨係有人蝕錢無人賺架嘛...
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9 x/ S7 a. L: I9 f& Z+ l! u敬請各師兄解答- F; q/ b% U+ }* W' W* K

0 @+ h, S/ C: ^& V+ b* KThanks

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那些根本係 紙上財富  
6 M" z, e  d" o( F! u5 z' 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( X7 S$ {9 B+ C  o& _3 S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) f& k! C4 x& @5 X
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" K+ N# @$ M& F4 E1 s
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 t/ t$ A$ r; w! F- k
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. {5 G9 x8 e2 K0 B
計番回報率就已經係50%,所以可以好好賺
. v* ^" i* t& H- A0 F前提係銀行之間要互相信任先可以咁樣借法
+ `$ ~! w  E' K1 e9 i9 l4 z同埋個市場既前境要係好先得
+ b1 \0 b$ ?3 A1 O/ \7 m- c/ K. {- W但當經濟一差,公司估值趺了,物價不升反趺* D/ h( p# E7 E3 J% B: V+ Q; v
例如剛才說10蚊的, 趺到得番9蚊,
! R0 A2 A$ t3 X" c8 G' X咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) f9 ]" P- d( c4 A
所以你就會覺得D錢好似蒸發哂咁4 ~. z0 y0 }( k( @1 g

6 Q) t: k& L* J0 y$ e你都可以當標野咁諗, 個樣野多人可以狂升值,
  l; z5 Z, c- ?( N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, , z! L( |" D' p. C0 v% J6 s* \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ A4 B3 i3 r9 Z7 @" \# ~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8 R  C: s- K3 A
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
! k* F! K& m# [- t唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 X) C5 J: P1 Q$ b! ^; ~, t淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ a4 W$ V4 G! K  {6 y5 s* B; M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
: F8 [& `+ d0 x; Y% Z  s咁你話d錢蒸發左去邊? ...

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' F( ~9 E& ]7 e! P6 A正係咁樣
) S( m, e$ j. N. t- O: l5 w7 K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3 s- y& S, i7 `! L5 [1 ?
分分鐘佢地唔使還錢2 q. E1 h  J. ?6 P+ k8 d
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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,& o( i% i8 I% `+ c: i) s' ?6 Q
連國家都係問人借, 不停發債券, 印鈔票
' m- X- r, l2 Z3 i& ]一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. x( d) V& g3 G5 y. X. B6 w
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# _' N3 Q5 E: s$ t
咁而家"爆哂煲"算唔算先至係變番"正常"???

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' A, T9 s+ n4 @. @: N2 `. _8 i其實係...
# {: [/ @6 q) C3 I8 w* ^" \" ]因為以前未生產, 先消費, k( s4 F1 E! \: ?
而家就要多生產, 少消費