0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 ~6 v+ p2 H9 _
Why bank will sell 借據給第三者???
, }/ n( ~5 J# ]/ X' y# B, U4 g. {I was so confused.....

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講到尾都係賺錢
3 s+ G; e2 _& T& Z( Iso銀行可以不斷放款; J) t7 l& X* Z" i
美國的房貸問題散佈到全世界
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mortgage loan
& h, u# }$ A6 R- A7 w; C% B>conduit
4 Z( Y. J0 }6 Y% k5 U>RMBS(Residential Mortgage Backed Securities)
- O2 Q4 {  p1 W( q5 c>arranger9 h: R3 I8 C$ G* m
>CDO(Collateralized Debt Obligation)
' c; {. b7 ^! g+ u% ]4 Z. _最後去到投資者

Kev

i thought it is the reason of rate of return.
5 T) ~& m  }- t% E# U# C" ^CDs could have different ratings, AAA -> F,6 C4 q3 I9 W6 X' t6 D+ i9 Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.. l5 P# Q  y1 y) y, L- ^+ y- T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) m  n/ Q8 t& V& a$ Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." O% [& m3 _  \& k2 v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: z& z5 n0 ]2 n; R( g% i% psimilar to bonds, CDs trading in the secondary market have different value at different times,
+ a( C2 u" V8 c+ o( |6 \normally the value is calculated by adding it's principle and interest. " w' z8 q% c0 r1 U+ h
eg. the value of the mortgage+the interests to be recieved in the future.
) n( T# q% _) 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.1 i8 U2 R8 b! V5 b1 b
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im not quite sure if the multiplier effect does really matter in this case.
; C! |5 J2 F% S3 n4 B/ B6 c+ ~/ gin stock market, it's the demand and supply pushing the price up/downwards.6 w, T% o* P! L& y( T5 S6 w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 m; w# L2 b# Z* ~6 x  _6 ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: e* K( l* t5 EThe 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. . o! O% ~4 S3 o/ M( E2 O4 q- J
but 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.gif9 [5 k# z' f9 [4 e# o/ R% X
Refer to last example,6 k: w# y$ a3 X
that means bank A have no money because we borrow 10 dollars from bank A
- ~9 q5 u/ U: sBecause bank A doesnt have enough cash on hand , d0 o& L* @8 s) J( ~. ]
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
. ^6 J$ v0 O: V$ u" P% N2 [% Hso does it mean if E failed to pay D,
" ~* q: s* L% D; u% j& L4 o3 E$ o7 Nall the B,C,D,E have to go bankrupt?' R. k1 L& \1 X' E8 R1 s
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6 l' Q9 k5 ~; F( z% A9 _the multiplier just tell how much money created in a whole economy,
7 `8 q7 ]+ b  z3 n. R* R% Y% J# Oin this case it doesnt really matter how much money is created, ! t+ g; k4 |: N% ~
it's the problem of the debt itself.# N, ~& I- Q) i) `  C
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 ]" C) ~) D- a' f# q小弟一直都唔明..., I( \5 _3 f- R6 c, i6 f) p

" E6 n2 z( A+ H/ l全世界都蝕錢，咁邊個賺緊錢呢?- D4 S, ^" p( J) A" f4 ]' `( x. \

$ g$ g; {! b3 x* b6 b; b% \" s5 @無可能淨係有人蝕錢無人賺架嘛...
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5 Y, ?# M! b5 V% \+ m5 D) t  _; H敬請各師兄解答% W. j2 |8 ]% F$ C+ t% s* {$ r

( ~4 [+ t, r& qThanks

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那些根本係 紙上財富  
/ J/ s  G* ?% M/ [2 T7 U% o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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0 n1 n/ P3 ^% {$ W  rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產) k: s! g1 a/ @  J7 b5 i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 d0 E0 P. X4 a8 T4 L% s/ Z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* B% h; q; X& J+ z3 b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, k- t! q- ?8 ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 o0 Y  X5 i' @% h: x: `
計番回報率就已經係50%,所以可以好好賺
& t: N5 K1 x. K( g前提係銀行之間要互相信任先可以咁樣借法- r/ k$ x9 H7 E
同埋個市場既前境要係好先得
, n6 k% c) q# Z  x' }但當經濟一差,公司估值趺了,物價不升反趺+ t6 L7 [. R& a( K" g* {
例如剛才說10蚊的, 趺到得番9蚊,
/ y" M' n9 |% L$ b; F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 B/ h% @+ ~/ h7 G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, # X4 u$ b7 X+ @' e! t# K. [% \( z
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 s# r2 g( A$ k: w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 T) i( |* ~1 B# u7 O$ Y5 Z% c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
& c8 R: h  O: n8 G# i8 i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$ A7 l& b: M6 D: }# c7 Q' G$ K
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 C/ k, S5 Y! I6 l7 B2 f, Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & G0 k6 B( D" a( G
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
$ P* ?+ {' }: _7 p& y& L# I咁你話d錢蒸發左去邊? ...

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% b  |* h7 |& {3 e9 j. U: u正係咁樣& P& i+ v6 n9 y7 Z  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
! N' m4 f1 m3 a分分鐘佢地唔使還錢( A1 ?3 }) p+ Y$ j, i$ s7 P  U" |: |
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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 d# ~8 H* L2 l% T2 |/ S, [) f) }' q7 K連國家都係問人借, 不停發債券, 印鈔票1 ^# ]: X' L$ C& j# |3 }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ h6 J. K3 F5 `. s
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
& F" E" n4 Y) z% z3 ]9 F咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
# b- k; ]: z+ A2 Z: F) g: M因為以前未生產, 先消費
- Q% l* J$ G0 S( u而家就要多生產, 少消費