0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ N' ~* X. f4 C& V  o! C
Why bank will sell 借據給第三者???
# a2 h1 \. o1 N. q7 ^9 k0 I: |! aI was so confused.....

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' }, s. ?4 M& s0 }' }" y6 J講到尾都係賺錢6 z* k# r$ M0 C3 E
so銀行可以不斷放款+ \7 f3 O- r. Q0 J
美國的房貸問題散佈到全世界
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mortgage loan * c3 B3 O) K; B: j$ ~0 w
>conduit
6 n" y7 r9 q9 u$ H/ L>RMBS(Residential Mortgage Backed Securities)( H+ {; Z0 ~0 a
>arranger" Y  m: @/ A% G% k' P8 m' d8 ^" h3 c' p
>CDO(Collateralized Debt Obligation)0 w2 Z, b3 x- N; x
最後去到投資者

Kev

i thought it is the reason of rate of return.
- Y' a6 F) w' E" ~0 L! `! m/ OCDs could have different ratings, AAA -> F,
- x2 y( s8 j; Y6 {) Amore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ ^- `( L6 u& V  N* j4 ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 ]; b2 u" p8 K) E6 Z# n# l4 C0 ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ @/ v: x* p( n9 ^( `; M( L! o% gAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ w0 I" i8 N  R/ W7 I
similar to bonds, CDs trading in the secondary market have different value at different times,
# b0 c% l# c" A2 b9 Anormally the value is calculated by adding it's principle and interest. 0 u$ s. e" Q) p4 i4 r5 I$ A
eg. the value of the mortgage+the interests to be recieved in the future.
" G  t8 l& _3 z- Xbanks 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.
! E* P! X1 P& d: n, rin stock market, it's the demand and supply pushing the price up/downwards.
+ }! _+ b3 ]/ E) F5 Q, {: uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* }. q5 _8 l2 J7 O
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 h8 T9 W. U% _0 O% `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. / @# Y" ^& f; q3 e# T) e& ^: f
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$ N5 D' v6 _& y7 w0 T8 |- W. ^
Refer to last example,8 a7 ^. m: H5 q, X8 o3 v
that means bank A have no money because we borrow 10 dollars from bank A . u, G5 q' a( e5 I6 H
Because bank A doesnt have enough cash on hand
) z* k. b1 w' d* u, l% q/ p" ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 t/ r2 g  E3 YA->B->C->D->E
& y  z, `: |% S( aso does it mean if E failed to pay D, 3 p/ }+ ~. a1 _+ o# J
all the B,C,D,E have to go bankrupt?" t. f7 G9 }9 F/ j

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6 i) N' O+ S  D/ Zthe multiplier just tell how much money created in a whole economy, ' `& e! B8 |$ n9 u
in this case it doesnt really matter how much money is created, 9 P7 H& J6 S; ~# G: Z
it's the problem of the debt itself.9 d. I" w$ g9 F% h' B( j" ?$ M4 }
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$ I3 N' j7 c, ?& z
小弟一直都唔明...
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& J" B4 }9 S) t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..., v( y5 Y9 Z8 U, m; j

0 ^0 u$ n, X9 W- K3 I( l9 D敬請各師兄解答# d' Q. E- w( H8 d

$ b8 W8 \( A- W/ k/ B6 eThanks

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那些根本係 紙上財富  
# {* p/ P7 u+ i* t9 ?. 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/ }5 e+ C. S; U8 y
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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
' d  t0 P; d0 ?6 F+ W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 h! _9 i8 x5 B5 p5 c/ v+ o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2 S* M) p9 ?6 S; H0 @) v6 `
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 D* i* e' _9 i& `9 l' z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ l5 P9 [( b2 I" l# c7 h計番回報率就已經係50%,所以可以好好賺: C1 M! \, i" D- N4 c/ B
前提係銀行之間要互相信任先可以咁樣借法  Q+ v: m1 q1 r& R
同埋個市場既前境要係好先得, v' D( h% V1 r
但當經濟一差,公司估值趺了,物價不升反趺
$ I* k: z% V2 O+ D; K% i- V: |( B# H例如剛才說10蚊的, 趺到得番9蚊,
& g4 [; z$ I9 y9 K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 I! S6 _8 b; y* }/ K1 l所以你就會覺得D錢好似蒸發哂咁2 j9 {) F+ @; c* C1 f
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你都可以當標野咁諗, 個樣野多人可以狂升值,
; l  y+ P% \/ o% C/ O/ j4 d0 F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,
4 k# S( J6 A. x  T) ]) r7 y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! Z# y' }- e4 l# g1 o: h8 J& q7 Y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
# }$ S" ~) B# F; a" R, X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
. d. ~1 M2 k3 x4 ?- q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ j- J# _- B# o9 k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % r/ C6 R5 R) j+ H% E
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
! a% _8 J1 c! Z: f咁你話d錢蒸發左去邊? ...

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正係咁樣
! h5 K2 u+ h  y7 k! W: |# s0 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 n# Q3 \, v, l6 y0 n
分分鐘佢地唔使還錢  C6 l+ V& Y3 d1 ~
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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,
6 o0 m, v/ c# F+ {3 Q連國家都係問人借, 不停發債券, 印鈔票& S; R( r8 O! }5 v! t
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; y) P  T! k, m" b: j' k9 i4 G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% W3 x* S/ a" o6 h/ ~0 A: \  u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
/ g4 X0 u* o& }) H/ W' P" f因為以前未生產, 先消費
. u* A" I( M4 V' v6 ]而家就要多生產, 少消費