0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, x% ]. d, Q) O2 ^0 GWhy bank will sell 借據給第三者???, {" N; x  _! v$ G
I was so confused.....

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講到尾都係賺錢
% P2 w  j/ K2 O% V8 `so銀行可以不斷放款( B$ V2 N/ P  E' _$ e
美國的房貸問題散佈到全世界3 p6 `( \4 K8 l8 p' w/ c7 J

/ P; j. Q; Q* q7 Jmortgage loan
; L& H) p! ~% P( H>conduit
. U+ w' a; o: [& K( c>RMBS(Residential Mortgage Backed Securities)
0 Q: v1 k) S9 D" P>arranger) d/ s2 I4 h: U1 N, B/ t% i
>CDO(Collateralized Debt Obligation)
$ v1 C! Z7 F5 v- F; E0 S最後去到投資者

Kev

i thought it is the reason of rate of return.% |0 _' n) c$ ?! e
CDs could have different ratings, AAA -> F,
9 q- {2 m  Q, N, C4 J* @/ Smore risky ones would have higher premium (interest rate) as a compensation for an investment.8 }1 F0 Q; R: _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; s4 B0 y1 C% X
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ t4 J, v- f5 i  T" q" XAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 M" f; f0 ]$ f  A0 rsimilar to bonds, CDs trading in the secondary market have different value at different times,! E# Q7 z2 Y- [) z
normally the value is calculated by adding it's principle and interest.
; w+ z! }9 h' ^$ S: e+ o9 |2 z& O4 seg. the value of the mortgage+the interests to be recieved in the future.
7 k  l! B" [" \+ Dbanks 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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  g1 o' A7 Y( c. x5 q! H& x& n7 x7 Nim not quite sure if the multiplier effect does really matter in this case.$ z, C- k+ Y4 H; |
in stock market, it's the demand and supply pushing the price up/downwards.
% c+ Q* H. ~, ?9 |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: h6 n# B6 e5 Z) c0 L* I7 U9 `
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- i  I/ a1 N9 v4 P: M9 {: c/ dThe 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.
% P6 G; Y9 G3 C6 j$ D# Hbut the value of their assets did really drop significantly.3 w, P! O( W2 c% k' ?

* i" N: C' J8 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  y4 z2 o7 d% W, j
Refer to last example,1 S4 V" U, n9 x2 x7 k( i- p0 |7 j
that means bank A have no money because we borrow 10 dollars from bank A 8 W9 G7 q1 n$ `* ^  }0 X
Because bank A doesnt have enough cash on hand
2 j: N7 q# s0 {1 o3 U1 G* U* ~therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" Z) j, g0 s# @2 R  p0 t/ F5 mA->B->C->D->E
  V0 v, B8 ^0 S1 }( ?7 cso does it mean if E failed to pay D,
- {& j5 {- L. H7 xall the B,C,D,E have to go bankrupt?+ T5 ?: t$ n2 q) ]% |
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the multiplier just tell how much money created in a whole economy, " g' W. a! M5 m, ?" [; r4 Y. G
in this case it doesnt really matter how much money is created, ' E. U+ L( r3 O4 F" M. e  A
it's the problem of the debt itself.8 I/ _- A+ T- j  }+ K9 d8 q
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.gif2 }- C) x# N$ y" X7 o
小弟一直都唔明...
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% K. p' @0 @% b; T9 g8 p" k全世界都蝕錢，咁邊個賺緊錢呢?' j( V& v9 o5 G5 L1 F
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無可能淨係有人蝕錢無人賺架嘛...5 i# l8 f# b' M  d6 `: o  H7 a
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敬請各師兄解答. t" Y- b! j" h% `

) Z- x" C6 A$ A% p4 fThanks

& h. ~, r; B5 ~. P那些根本係 紙上財富  * @! }: S; d0 V+ H/ {- J  G9 @+ F3 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
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! a% y) n1 u+ y( i+ n" v) whttp://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) P; ]2 S8 e' `' c
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& @& @. U  V, R" B* X1 @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
1 K. O( H1 E: x3 B' a" q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) K* d! d) \' P3 [( s) L
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& \" e2 q2 S! o8 D+ t2 \! K) Z+ k3 b計番回報率就已經係50%,所以可以好好賺
2 I+ l4 p& ]1 B前提係銀行之間要互相信任先可以咁樣借法( `) a; ]  [- E- j* X( h
同埋個市場既前境要係好先得
* Y$ P0 T, O& ^7 d6 x但當經濟一差,公司估值趺了,物價不升反趺
5 l2 O/ I& E) y4 L例如剛才說10蚊的, 趺到得番9蚊, 3 @2 p! v1 Q" \7 ]. Q. `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: o- m: U" g5 a* V7 t5 H
所以你就會覺得D錢好似蒸發哂咁
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" I! U7 ]: N6 A) }你都可以當標野咁諗, 個樣野多人可以狂升值,
9 z" i3 b# I. ?$ E0 B1 E5 a" n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,
, I+ ~0 A( [; C2 O+ t" K9 m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 g& L& |' W! c# q/ 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8 t* t4 m) i: V
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.gif9 F2 S/ O4 d( {/ A& M5 M% A6 k
唔係d錢蒸發, 而係比美國佬洗晒未來錢, , M% q7 ?- P& b0 Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* x' r. A; e" G6 l: N5 r+ 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
% \" ~+ t' E0 U* H) J咁你話d錢蒸發左去邊? ...

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正係咁樣. Y# M" q1 b! b1 J
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+ v: c$ ~+ y" M" ]$ X% o
分分鐘佢地唔使還錢- @! Q" T& `) U; D( B  ~) x7 M
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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,0 C, B5 I8 v0 C& W
連國家都係問人借, 不停發債券, 印鈔票
' ]" k3 G7 y! V' u+ D3 k$ R一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 {) B0 W$ F  Z& U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! l, @* l7 M7 b7 X
咁而家"爆哂煲"算唔算先至係變番"正常"???

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" i" w" z0 g; s9 N& W其實係...
8 u/ l& k! [9 O  w  o6 r6 A; I% _因為以前未生產, 先消費
2 K6 ]* d/ b2 P而家就要多生產, 少消費