0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% f6 g. \: J; Z- l6 P
Why bank will sell 借據給第三者???
+ ?% Z" C9 h" Y0 A- ?I was so confused.....

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6 Q0 b- q! [2 ?% {/ J講到尾都係賺錢0 M/ u. h  s1 ]! F  R) N
so銀行可以不斷放款$ X, u$ |3 t5 t, C. \' U/ q$ i
美國的房貸問題散佈到全世界' b8 x: F# r$ |, |3 J( P6 @. X
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mortgage loan 3 b) i% Q7 a4 Y0 G# d
>conduit: Y; @; T7 y3 V8 m
>RMBS(Residential Mortgage Backed Securities)& |/ r# N/ C- Q% D5 Q7 C
>arranger
( o9 A' |" T2 O' d& R0 `. d  E. W>CDO(Collateralized Debt Obligation), S  M& D  A- ^4 E7 Q
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 n: I4 M5 g) [1 o$ P) SCDs could have different ratings, AAA -> F,7 U/ U4 v6 M! P* y: L8 L
more risky ones would have higher premium (interest rate) as a compensation for an investment./ M- a& d- _- L$ D% X, Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, F% b( R' f# |: uin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& q' y# X) {+ q- zAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  {7 A0 o" T4 w. Q0 [3 A
similar to bonds, CDs trading in the secondary market have different value at different times,. {4 [. }' W% r9 o1 g& |' R
normally the value is calculated by adding it's principle and interest. 7 U" o7 D/ g# b* z3 t  \( m
eg. the value of the mortgage+the interests to be recieved in the future.
) \2 p1 t1 b- e! fbanks 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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; Y0 X  }, J) Lim not quite sure if the multiplier effect does really matter in this case.+ {5 [5 Q; \. [1 F
in stock market, it's the demand and supply pushing the price up/downwards.( ]4 @+ [' t. m" u: A4 h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% [8 G+ T1 n1 m$ h) ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  y( q& T; Z. }+ F
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. 4 N/ g5 s# K# y9 p8 m
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.gif* ~! M& Z" \$ p0 w# Q
Refer to last example,' v8 m5 Z% W# W
that means bank A have no money because we borrow 10 dollars from bank A
& Z4 _) A- |' {8 Q& b; f' U0 L0 ~Because bank A doesnt have enough cash on hand
: Y. s7 A: q( U) }: g6 q' stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ q: V7 Q, B# B& P2 HA->B->C->D->E- Q3 Z3 {6 Z; I" x7 \- r' J
so does it mean if E failed to pay D,
7 {5 @  |& z+ X1 k5 h9 ^all the B,C,D,E have to go bankrupt?4 t- h- E% b$ \; D* b6 o1 e
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the multiplier just tell how much money created in a whole economy,
/ }- M8 n: ^4 ~: L* H0 j/ Oin this case it doesnt really matter how much money is created, 8 Y9 p( L7 E3 m+ n* {
it's the problem of the debt itself.# j& K$ e8 H1 e7 o8 F% i
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
( }5 Y6 d- g7 y9 s2 `2 i小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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8 V1 B* }1 s: ~4 K& N7 c9 v無可能淨係有人蝕錢無人賺架嘛...5 l' c* \7 i3 _! X1 A3 V5 ^

7 p% j3 q7 M( k, }  V敬請各師兄解答
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. X, E6 o- h1 I  _3 uThanks

) z" _$ j, |. K8 S+ y那些根本係 紙上財富  
' s" b; j4 M5 T! Z0 x) v% [9 [0 H* ^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 graphic3 c. s" _! Y7 k/ @1 ~$ 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
3 z- B8 K" D! F, U當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- \% K$ s, b/ z$ {/ h& _! c
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
/ X4 `( E! e+ M# [" x個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) t# o0 O$ |5 W  {1 P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- ]/ D8 z5 {2 D; @" i8 i: S
計番回報率就已經係50%,所以可以好好賺
* \/ C( Q4 p* a1 L$ E* s: B前提係銀行之間要互相信任先可以咁樣借法
6 U5 Q  a; k% Y% ^% X" y! F同埋個市場既前境要係好先得
6 w# M2 Y' o7 Q% S( g! x& u但當經濟一差,公司估值趺了,物價不升反趺
0 U" ]" t4 M% J6 |& V) [3 W% j6 p例如剛才說10蚊的, 趺到得番9蚊, & j4 t9 X% W, N* q) p9 n* s
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! E' s% A5 c( ], u$ c% i# y
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, : V, S0 I% |* V: \' x( I
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,
/ o" x' g( k/ i6 V6 y- I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + L. I+ ?, a: i- y8 l
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
/ L# S) b& P- G" j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/ f6 v- m  j1 J
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! e% U" o! W6 v" V4 w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 A  y* W7 E" c2 K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  E3 Y: }7 C咁你話d錢蒸發左去邊? ...

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: f* T4 @6 l2 K9 P5 J) E( Q( o& }正係咁樣
0 c' q2 L, H" A# g3 |. U, T: P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4 j6 ~) P. N+ g1 c$ o
分分鐘佢地唔使還錢, s' X& r: X9 c4 W

+ W( ?0 o# w( p" ]  l3 V% r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,
3 u, A7 D7 |9 }3 j( S  i, P- c. b連國家都係問人借, 不停發債券, 印鈔票9 d" n4 d3 a' P- x3 p$ _% L- }' P
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" f  D* c& b7 h+ R; m0 H
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& i8 R/ k$ B' O+ y5 A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.../ ^) d7 u7 j3 G
因為以前未生產, 先消費
# z3 G; T1 I4 P1 U: X. b. }- U$ w而家就要多生產, 少消費