0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 D: a1 y. x4 G
Why bank will sell 借據給第三者???
9 b! ~: Q8 w( Z9 W! O5 hI was so confused.....

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講到尾都係賺錢: P. w7 \5 u" C5 ^. G; ~
so銀行可以不斷放款
: |9 Z3 M; V6 D8 [美國的房貸問題散佈到全世界
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mortgage loan - b% |7 y- M( |) y( Q! Z& n% M
>conduit
% X9 F9 q9 Z2 W' R. s>RMBS(Residential Mortgage Backed Securities)
: l" Y; z$ A2 U8 g" k3 g>arranger
, k6 x! @3 U+ F9 x>CDO(Collateralized Debt Obligation)# u( L( _4 s" ^& S5 t5 b/ f
最後去到投資者

Kev

i thought it is the reason of rate of return.
* ~. ?& b3 f" g8 e" ]$ i2 TCDs could have different ratings, AAA -> F,$ O% L4 R. X  M; t; I) K. W
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ L" A5 ?* F% L, z* omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 Z! R, |/ T  C; oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 q7 l- {$ Y% a) fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 i$ c8 ^5 i; O/ _* G$ T6 @similar to bonds, CDs trading in the secondary market have different value at different times,& c. p6 m( X! U/ j/ j# m! L
normally the value is calculated by adding it's principle and interest.
( ^7 |& S) x( F  v. |7 m# j( ]/ Teg. the value of the mortgage+the interests to be recieved in the future. * O9 T0 B' {: ~- q5 i$ |6 h
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.7 K" f9 k0 Q! p* Q/ g
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im not quite sure if the multiplier effect does really matter in this case.. c$ [0 I9 \5 }4 ^
in stock market, it's the demand and supply pushing the price up/downwards.
' D) T" s5 Y! k$ P1 fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 G2 x* z0 R' {  H& ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ b+ t# S' g/ P/ Q" h  x7 ]
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.
# u8 d7 d% G+ p* d; F5 Z, Ybut the value of their assets did really drop significantly.! d, ~1 i" D% M' x8 _) \

# v. n2 f4 M4 N[ 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 t5 m- s$ A5 ~% Q8 T8 f) C
Refer to last example,% n; [8 g0 F  s+ o2 q; S
that means bank A have no money because we borrow 10 dollars from bank A 2 u; N$ p6 |  x+ V1 s# M/ K
Because bank A doesnt have enough cash on hand
. S! j' W  c# _6 b# ~therefore bank A need to be bankrrupt ??? Am I right ?? ...

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, A0 o* A# k' w5 M/ Q9 SA->B->C->D->E, N) P' ?( J& ]8 g: ]! P: B$ K
so does it mean if E failed to pay D,
4 j/ y1 M; C9 Kall the B,C,D,E have to go bankrupt?
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; s: Y  c' C6 w0 g0 Jthe multiplier just tell how much money created in a whole economy,
' K+ K: t" A# b! W- C$ C" vin this case it doesnt really matter how much money is created, 3 \2 u+ _0 L) j" Z: q) J& R
it's the problem of the debt itself.+ ?! r" N3 L6 l1 |
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
; }+ d* D% o4 N1 Q3 f小弟一直都唔明...; P. b7 W7 t& p# x" B0 P9 M2 p

' v# H2 t8 i4 U8 N$ R7 S/ Y6 z' H. e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...
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% Z" u+ r' w- y$ W& C* I9 R' O敬請各師兄解答0 H) k  S1 q/ ]9 p

9 C* r& ?, H! A( `" ^Thanks

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那些根本係 紙上財富  4 s7 L3 j$ l1 l( l) r* q
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" E+ ]9 S2 X/ P& o* I

% C* v+ Y0 ?  u0 Ghttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
+ Y( ~0 K  q1 s# 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: g& }! R( m2 S$ t9 I7 S* F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0 O! h# w% U, X% l5 Z( z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ `1 @6 D: W  d" w2 F, C扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 w$ ]) ?( G5 g1 W: J1 t1 B, S3 M. }4 \8 |
計番回報率就已經係50%,所以可以好好賺
6 }0 e8 G3 _) w$ `% p3 m& V前提係銀行之間要互相信任先可以咁樣借法4 D$ X5 @* Q6 c" A7 I% `6 h# o! R
同埋個市場既前境要係好先得
& L# [9 _- Q3 s. [但當經濟一差,公司估值趺了,物價不升反趺
& m# n4 ~& P3 A) c9 q7 s2 v- Y例如剛才說10蚊的, 趺到得番9蚊,
% P* {  X, r8 X: t+ N咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' H. u. Z  S/ d2 J" 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, 8 ]. S  @3 D$ R
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,
& O6 r: ^' n3 P1 M% t淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; F" V, `+ B/ 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
1 F# G# W( M! s3 V; g  N! R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  G2 L* T, `7 K, g/ F1 p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, , m8 j* C7 V8 }$ r. A3 j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 w: u8 J: `( r# z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
0 T3 {/ I( F  j) |2 @$ D5 p咁你話d錢蒸發左去邊? ...

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正係咁樣1 l" r7 N1 l( ^) A4 u
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 M: W: H  \! L" j, L  v$ B0 M
分分鐘佢地唔使還錢
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; I: c+ A# @% N7 `1 n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,
- Q; M0 k& p1 I% Z4 H連國家都係問人借, 不停發債券, 印鈔票
# _, Q7 Y1 k8 r' ?$ _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ g0 ?/ a2 m: ~
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
, t! E7 X9 W9 q2 Q4 Z2 Z咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
" F- l6 x/ U# y9 R; }* J因為以前未生產, 先消費
( x) m( k# n) s4 C3 R6 h而家就要多生產, 少消費