0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: J! s% g7 V; IWhy bank will sell 借據給第三者???
+ j& a1 f; y4 c, C+ nI was so confused.....

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講到尾都係賺錢
: b1 k, Q1 l# y5 `so銀行可以不斷放款
3 n3 ?5 L/ z4 S4 k! J: ^/ c美國的房貸問題散佈到全世界* K& ~; Q9 w! ^$ o

6 i# j0 ^) B2 f& Q' _( W, D! ]) Y* y/ pmortgage loan
  T6 `7 C$ B% w>conduit: e2 z& K; w2 X/ ~1 z
>RMBS(Residential Mortgage Backed Securities)& L7 g. ?* M8 h8 K
>arranger! e7 i1 B; S. a+ ~) F8 T5 U
>CDO(Collateralized Debt Obligation)' D: M6 ^% J) b/ ?( I
最後去到投資者

Kev

i thought it is the reason of rate of return.& Z# ?4 f  I' O! c
CDs could have different ratings, AAA -> F,
; b4 v! Q8 N$ {9 Zmore risky ones would have higher premium (interest rate) as a compensation for an investment.9 R( n* Z) I1 F' ^, |3 l1 e' z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," V6 l5 `. [4 b* e( q$ K
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( C6 [, s% i5 ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! F( r0 I6 z8 e! n/ o1 @similar to bonds, CDs trading in the secondary market have different value at different times,, N4 g+ S: D* K4 u- }7 ~
normally the value is calculated by adding it's principle and interest.
% v0 z( ]* ~# W5 W9 q1 deg. the value of the mortgage+the interests to be recieved in the future.
$ r( l, r0 L8 D9 f; o4 g0 ]$ tbanks 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.& N9 M( G$ |" D2 |; S
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im not quite sure if the multiplier effect does really matter in this case.3 t) R( K& b0 A- ^, a4 G. o
in stock market, it's the demand and supply pushing the price up/downwards.6 E4 a, H3 d! {, y
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! p5 I# f; B+ ~! `, RA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ w" T8 m& y' x/ k7 |) q, r  uThe 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.
5 n& Z# n2 x# M. U1 }but the value of their assets did really drop significantly.+ l* J# ?- y* v2 ?

! T! e" u6 [2 v[ 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
8 y+ \( g* C8 l2 C$ wRefer to last example,2 P! z  Q" w! m4 F: J% r1 ~6 k4 o* ^
that means bank A have no money because we borrow 10 dollars from bank A ) v& r/ X$ u5 g: g- I
Because bank A doesnt have enough cash on hand
- K, v  M; j# G. _therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: `3 |/ A  Q! }) p2 O' p& b7 iA->B->C->D->E
! v  {- f( B/ E4 _so does it mean if E failed to pay D,
' T+ |0 L  K' U4 Call the B,C,D,E have to go bankrupt?) l$ ]! P0 w- w) D
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the multiplier just tell how much money created in a whole economy, / v/ a) @& |$ r' @+ z$ |
in this case it doesnt really matter how much money is created, # h, ]& k) o) \  \) O- r+ f
it's the problem of the debt itself.
  g# }, ~/ R& I1 n7 c1 zthe 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: n2 U8 M8 C% }0 R$ B
小弟一直都唔明...
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6 [. H1 k( }* k9 e全世界都蝕錢，咁邊個賺緊錢呢?
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9 d6 i; w4 s2 r$ p無可能淨係有人蝕錢無人賺架嘛...: t4 s/ T/ k. S$ D. d
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敬請各師兄解答
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% T1 f8 ^4 `* X1 Z5 v0 ?$ V% XThanks

* d8 l! d5 I% ]' S: e% ]) P那些根本係 紙上財富  
, g" G1 o* y: c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 graphic6 M5 g5 n) J4 r6 u

) r0 N8 L8 S: Zhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 C7 C' r& ^. V! S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" F, m% N9 t4 H) u( ~3 V8 w; I% k# s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
3 U9 ^5 R/ X: F: \1 ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 m. T0 Y& i0 a5 s5 e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
- t) l. \9 L5 X& |* Y計番回報率就已經係50%,所以可以好好賺2 j  V7 P) _  v9 D: o
前提係銀行之間要互相信任先可以咁樣借法4 V3 q# c' u/ G: A- D
同埋個市場既前境要係好先得
* r& W: S/ s2 m3 \但當經濟一差,公司估值趺了,物價不升反趺
, i* s0 w' D3 T4 ?例如剛才說10蚊的, 趺到得番9蚊,
8 [9 V2 V/ o8 j4 @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 }( r  r  l! E; L$ }. F
所以你就會覺得D錢好似蒸發哂咁) [3 `0 Z- f' p
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你都可以當標野咁諗, 個樣野多人可以狂升值, 5 i0 v1 o8 d6 H# e5 \9 W" C- 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,
2 I& B, e# R# A' P; t淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 p, m7 r" U. k" s1 B
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$ _$ C4 W# d. t6 Q  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
! ~, w7 b1 }4 M! f: A5 n( j# ?# {2 y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! u/ T$ z9 s$ R3 C- P4 W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( A  q. ~7 _: k7 s+ 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
: L+ C" ?9 J# i咁你話d錢蒸發左去邊? ...

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# p7 B* N- r7 x* s6 |: p7 y正係咁樣- w6 u9 ?6 s0 t: W  p0 t
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
/ M" E7 I7 Z3 n/ X/ w( t+ q  j+ d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,
7 D. ?' _( P3 P6 O. ]8 ?9 ^0 B連國家都係問人借, 不停發債券, 印鈔票
( z$ J8 ~) I: L! I# X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! W$ n! K0 V( I, F" ^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.gif6 z( o* R5 J% M9 c) L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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' L  O4 X/ `4 b" C, _9 L/ K6 m' N/ v其實係...
' X: I- m0 M2 `( h因為以前未生產, 先消費* A& z9 }) C2 M5 F- e
而家就要多生產, 少消費