0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 N7 H! ~  E4 j4 P! o5 Q- \Why bank will sell 借據給第三者???1 v6 ?1 p4 g7 i" z; H$ i2 ~0 I! p
I was so confused.....

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6 W* V( a. _" B* X& D4 W講到尾都係賺錢5 O( B, ^4 j- Y& H  g8 H
so銀行可以不斷放款
5 k, K5 n, R) g% H2 d* U5 p美國的房貸問題散佈到全世界# w% |+ G, ~% c1 i
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mortgage loan
* c( E% c" ^6 Q) ?6 S>conduit
: E! D" k( O7 O>RMBS(Residential Mortgage Backed Securities)
, ~( X5 H& M* v8 G/ i>arranger4 l# `/ P9 z+ f. ]6 z/ D
>CDO(Collateralized Debt Obligation)
" H- C( Q, q: ?最後去到投資者

Kev

i thought it is the reason of rate of return.
0 U; K0 i- v! z1 o+ ICDs could have different ratings, AAA -> F,
; u  f3 w8 o7 D& mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
: {1 c  u2 L% q- x, jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 w9 X, y1 W* \1 i) Sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- H; a$ w: f7 V1 {, q  Q+ n: S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 \0 L: |, E0 ]
similar to bonds, CDs trading in the secondary market have different value at different times,
; M( \! b* ]# Vnormally the value is calculated by adding it's principle and interest.
, i, z& i! W' @* e/ beg. the value of the mortgage+the interests to be recieved in the future. 3 d8 V5 x5 Q. j: D4 O7 X
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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) ]0 B! o) I* Jim not quite sure if the multiplier effect does really matter in this case.
' |# S+ p! }8 hin stock market, it's the demand and supply pushing the price up/downwards.
/ b; Z5 [$ r. _3 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ h5 h# i& g! l3 k: VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" W4 C9 {6 I0 @6 G8 HThe 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. # r7 m& [/ D  h9 F
but the value of their assets did really drop significantly.' P) B# R6 b2 ]: n+ I  N
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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 V6 Z$ t, R4 `3 |8 `Refer to last example,5 g! }( H8 X" J! ^: M( Q+ }( c5 j
that means bank A have no money because we borrow 10 dollars from bank A
2 j) F& G" F& QBecause bank A doesnt have enough cash on hand
% l! r) x9 u. R. J: e% btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E- N: [7 r- J1 |, c1 d; d# l4 m
so does it mean if E failed to pay D,
1 a5 v+ d% [4 I" \all the B,C,D,E have to go bankrupt?2 _! i) w" \4 G0 X( x5 G8 Y3 c# g- g

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& L9 R' ?8 |7 W( R" C3 Wthe multiplier just tell how much money created in a whole economy, * [# v* U$ V0 R5 |
in this case it doesnt really matter how much money is created,
9 [8 C% V; C' @8 f% ?3 J) ]2 Oit's the problem of the debt itself.
+ Q6 _8 }- W$ v" wthe 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.gif2 S8 ^) Q' R2 S* P
小弟一直都唔明...
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- v( B" S% w' }# T全世界都蝕錢，咁邊個賺緊錢呢?$ r% V3 Y: |  X$ v

* M0 X/ I5 G6 M, e% v( r無可能淨係有人蝕錢無人賺架嘛...) }' J9 c! R! j6 Q

* F# L% B. m6 B! Q* y6 S敬請各師兄解答7 }4 M6 a" W! ^: m5 V( o

# Z8 U8 H1 v' ]; a' gThanks

8 T2 _; M- o) o( q
那些根本係 紙上財富  
; `% C+ L/ ?3 v2 U, {& L0 I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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9 z9 ?/ G& j. o1 Y+ M& _. |& Shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產* J# \& \( T) d  s- X
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* G1 M3 d, u4 y
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1 O7 L% j4 _8 R( o! T' P9 p
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& P' s! ]5 ^" [$ Y* R' Q. e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," L# v4 {' c2 d; i
計番回報率就已經係50%,所以可以好好賺9 e2 W1 ~5 ^# A, L2 x
前提係銀行之間要互相信任先可以咁樣借法
) E8 b: _8 ]$ S, I1 r同埋個市場既前境要係好先得
. ~* r" G+ H/ e. C. K2 U但當經濟一差,公司估值趺了,物價不升反趺
# o- t8 e) a( a# F  X, t例如剛才說10蚊的, 趺到得番9蚊,
0 \- I3 j6 [/ K" _1 X! ^; s% ^咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 J0 ?+ H7 j' J3 T1 D" Y' x  ~
所以你就會覺得D錢好似蒸發哂咁8 j+ a, U, M1 }* s: l4 I* b
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你都可以當標野咁諗, 個樣野多人可以狂升值, " w5 T6 G3 [2 V' I4 Q" u
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, $ L% G. U7 ~  ?5 ?  D. c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 g4 F+ _# \' [' V4 b' U% p
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- Y, A( r" G2 m" k( T- N
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# X  j; C( m3 O* [
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. {3 S$ E! S! w) e! _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: i2 W0 z2 ?0 O1 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
- X3 e. v. ~4 Q: N. Y1 X咁你話d錢蒸發左去邊? ...

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正係咁樣# b+ h8 N2 _  w- 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
& h5 O8 R# y5 D7 R) I/ I分分鐘佢地唔使還錢
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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,
: i8 d3 p% L% _: S9 ]連國家都係問人借, 不停發債券, 印鈔票8 b; v8 Q* b4 k0 ~5 X$ {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 j# Y- |  z: _. P" ]
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.gif2 g5 U7 I4 S! Z9 A/ t; S
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
7 C+ c2 ^5 q2 k因為以前未生產, 先消費
$ R+ c/ ^4 D  f* [而家就要多生產, 少消費