0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 j5 U* u# b6 G7 ^) D$ x* d) N+ R: ]
Why bank will sell 借據給第三者???1 ?$ N9 E& Q( r( E8 A" `* T
I was so confused.....

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) p/ t% C; {/ E+ m2 |講到尾都係賺錢, ^  w# ^' L7 c1 j. \, H
so銀行可以不斷放款9 k- X0 \0 O9 y' A/ G; p
美國的房貸問題散佈到全世界7 ]' B+ V+ W4 d
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mortgage loan ; `7 @" |* |; b2 x* z
>conduit
( H# e6 y3 A. S3 u>RMBS(Residential Mortgage Backed Securities)' P( y$ p, ?/ c7 V
>arranger: y% T1 l; a/ z8 U
>CDO(Collateralized Debt Obligation)
* d7 d$ U& E# }  k' K+ [, M最後去到投資者

Kev

i thought it is the reason of rate of return.
& Q; ]2 e$ X# r0 `7 r- _CDs could have different ratings, AAA -> F,
8 }2 ~- E1 h7 M! Vmore risky ones would have higher premium (interest rate) as a compensation for an investment.
* E. P! n2 U; dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' g( e+ W( h# d' ?2 lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* @: u# K8 r( G6 i$ L4 n
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 ~0 Q1 \2 _; t" W, \* U1 Msimilar to bonds, CDs trading in the secondary market have different value at different times,- G: a* p8 [/ u: y( A
normally the value is calculated by adding it's principle and interest.
9 a8 k* C3 s  `9 b$ {1 B2 K/ X$ veg. the value of the mortgage+the interests to be recieved in the future.
: S+ T4 ]' g. ^( jbanks 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./ d- n- `% K2 u0 K4 P+ d5 f/ N/ b; t
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im not quite sure if the multiplier effect does really matter in this case.
2 k6 |7 r4 P* H. ?, T3 N2 H  J+ Sin stock market, it's the demand and supply pushing the price up/downwards.! }8 m0 X! r1 C# v$ L7 W
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 A+ D4 \- B6 j2 Y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 C# w9 n5 w2 Y& |3 B- h
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.
3 Q8 p& g! c- i8 e' J! }4 \# Rbut 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
/ Z; v/ A/ [! {# g6 K& X' VRefer to last example,# c4 X8 p0 ~/ v; y2 \
that means bank A have no money because we borrow 10 dollars from bank A . G7 |; G8 |) }  m' n0 Q
Because bank A doesnt have enough cash on hand
/ i* I0 V! v6 C9 z1 Y( |' Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 R& O. j6 |$ @& i, j& ^A->B->C->D->E
6 l3 O3 L+ A9 o! F  O6 Iso does it mean if E failed to pay D,
% z4 i9 t5 d! m  lall the B,C,D,E have to go bankrupt?
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+ ^. N  ^2 K$ w. g+ uthe multiplier just tell how much money created in a whole economy, 1 v7 A0 b: c  W! c( M5 h
in this case it doesnt really matter how much money is created,
: s! G: n/ W8 H7 A* A" X+ `9 Xit's the problem of the debt itself.7 V! s+ ?; n0 O5 {( ^& X2 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
/ ~8 L* |" z3 L) n" d0 v/ _小弟一直都唔明...
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6 [. X) V( W$ M; V" y& Q全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...8 o# m2 M% P$ ]( r

; F' z; @2 R6 ^: F; P& S* K敬請各師兄解答% O5 X) L6 [) D- x) k
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Thanks

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那些根本係 紙上財富  
/ g. B" H2 w% B- ?1 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' G9 f: b/ R. G* g4 w
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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0 e7 E9 D% d$ C( A3 e: f, Q
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 }, a8 G: U" h( r
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
; [' l/ {: L' _, v# T, N' k* G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 J* q! k# o; w& T; T" T+ ~; V/ @扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, P6 I  D* s+ W0 P. a
計番回報率就已經係50%,所以可以好好賺
2 d; X# a+ n2 i' {0 s8 }前提係銀行之間要互相信任先可以咁樣借法
( {3 d$ |8 |/ n! u% a  B6 l) D同埋個市場既前境要係好先得8 \3 X% F- g7 a
但當經濟一差,公司估值趺了,物價不升反趺
4 {; O6 {. N9 d4 f: M3 h4 h% L1 F, k例如剛才說10蚊的, 趺到得番9蚊, $ S1 m* R" I# {# g2 ]
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! F1 j+ I% e  \- d+ G  |所以你就會覺得D錢好似蒸發哂咁
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1 _7 t" b; Z9 ?1 k( \/ j你都可以當標野咁諗, 個樣野多人可以狂升值,
; G6 I: h5 a. d( P0 H2 [. a; `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,
% W7 ]2 e# S' Y$ W2 ]# ^6 a  ]! d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% S! B7 |- E0 Q0 _- p/ }7 V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
) J/ w% ^$ o. }% @8 `$ c- M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
+ n* S1 f* W5 y1 f7 y) w唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 A6 Z5 W, \9 W6 S0 F) C+ j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( [% c" b" i# ]+ 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; ]! `+ v) r1 H& O3 A
咁你話d錢蒸發左去邊? ...

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% k& z# b( G7 e7 o1 }& C. P正係咁樣9 k& V( T* _( q; C7 d
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( Q5 g. i5 Q7 d$ z1 t
分分鐘佢地唔使還錢4 x- R1 a/ C$ w: p9 A9 x' o7 M
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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,
! p# A5 ~6 c$ p, T$ n& N& M# H連國家都係問人借, 不停發債券, 印鈔票7 t) Z( X! o( K  o6 O5 O
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* s* p/ V* J$ r' o1 [/ {1 L$ X
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
! L7 a% Z: w( x) V, r* t咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
: q3 X8 F- P7 c, |" R  g因為以前未生產, 先消費
. X. o: q, W# t而家就要多生產, 少消費