0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 Q' v2 t+ B  e! B4 @Why bank will sell 借據給第三者???
/ L# I% x/ k, OI was so confused.....

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講到尾都係賺錢
" ^8 r3 w5 ]9 g5 V5 Yso銀行可以不斷放款% a+ v) o' `7 }7 i/ Y2 `9 |& I3 k( Y
美國的房貸問題散佈到全世界" A" w+ i2 b5 P% L6 [
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mortgage loan ! Y; E! y5 f9 a& ~2 m* ~) p
>conduit: C; Q$ p0 _  |6 u* E
>RMBS(Residential Mortgage Backed Securities). g2 v% j3 A0 C4 S2 m
>arranger5 W. R# ^2 u8 m3 j5 @
>CDO(Collateralized Debt Obligation)
# f5 N' }# R& Z: g9 |. z/ [最後去到投資者

Kev

i thought it is the reason of rate of return.- l1 ~7 X& U8 l6 u* u6 u  S
CDs could have different ratings, AAA -> F,
$ n5 ^) }4 H( M: S7 {/ Ymore risky ones would have higher premium (interest rate) as a compensation for an investment.
& A6 \5 N( g3 [3 D) hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ Q/ z4 E, g& ^1 B5 c- A( c8 Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 F! Y: f1 q/ |, n  BAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% U4 J4 \3 Z" R) G3 m/ |  `similar to bonds, CDs trading in the secondary market have different value at different times,
( _' @" k' d4 U/ n# ]8 Nnormally the value is calculated by adding it's principle and interest. - I9 b- Z0 X) Z& I4 _0 H1 i/ r: t- c
eg. the value of the mortgage+the interests to be recieved in the future.
4 B: W: E3 u" N5 y- qbanks 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.$ ]8 F/ V" t8 K0 [6 m8 ~# z# U0 K
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im not quite sure if the multiplier effect does really matter in this case.
0 T! u1 D2 k# b: h6 g5 din stock market, it's the demand and supply pushing the price up/downwards.
5 T/ }, {5 e9 o9 C8 E+ KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  {4 N- z' S3 r+ k* X0 `* IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 }, K  m% z8 P& @, M$ Y% EThe 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.
3 z+ f' V  v7 s  e" b" ebut 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.gif8 Z5 x+ K# L! y# J, I6 C3 X
Refer to last example,  t% q5 L7 `. ~% Z& C3 v
that means bank A have no money because we borrow 10 dollars from bank A
. a( z0 ?1 E! X; p  Q1 nBecause bank A doesnt have enough cash on hand 8 w8 r  G/ s$ M  T9 S& X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# ~/ i8 @' |/ [5 |  EA->B->C->D->E, |! J4 V/ S) u5 p9 E. Y, |
so does it mean if E failed to pay D, % Q. X2 k9 q- I+ C- l8 H
all the B,C,D,E have to go bankrupt?3 @: A8 x' Y" C% T4 \
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the multiplier just tell how much money created in a whole economy, 3 M" U) b' i# E7 B1 U$ d
in this case it doesnt really matter how much money is created,
/ _$ s2 _7 A5 C2 q/ {it's the problem of the debt itself.% _1 a2 [8 u2 }- \) W3 Y
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
; T5 B/ T1 J4 {5 H4 ]小弟一直都唔明...2 X0 g7 `0 H+ M6 c  q
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全世界都蝕錢，咁邊個賺緊錢呢?
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2 O: f/ T% J/ n9 C9 [無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答% j+ k- M$ \+ a5 u4 u% X1 t
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Thanks

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那些根本係 紙上財富  
/ r4 h3 n9 V4 {$ J; _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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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
! W3 I4 i6 c0 f3 n! a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, L4 Y9 `" W! ]8 B8 p! }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 n2 j8 b5 Y5 g9 [4 V* D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) C  g6 L5 O/ K4 U$ S( ?! a9 h/ X扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 B# {/ ?: v9 v* R) `2 i計番回報率就已經係50%,所以可以好好賺, n' h% S+ J6 j) y3 J5 j
前提係銀行之間要互相信任先可以咁樣借法9 ?* j3 D- }9 h5 V5 Y
同埋個市場既前境要係好先得" z# ?: d1 M3 a1 N6 u
但當經濟一差,公司估值趺了,物價不升反趺
9 v9 I: {5 ^1 n& T+ _! J例如剛才說10蚊的, 趺到得番9蚊, 3 K* ]3 f8 n. p) A/ }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 q3 i8 l' m8 P. g" X- n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,
" T3 J% y- V; E- C6 p+ P/ G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,
* T0 C& ?1 f4 |+ N# e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 S6 ]& t) l% r8 F
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! s2 c& G% {; j; g  |6 b
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.gif0 A! D  @- [0 X: ?5 ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢, & q" v/ |+ |9 P5 O  p+ B7 w& T, s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 @' K0 C; o' d9 j+ }/ D
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
# a7 o6 y- U* M8 }咁你話d錢蒸發左去邊? ...

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正係咁樣
9 L; k3 K9 C( c) }  S  R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& f9 m( x! F$ F0 e' M# n4 E7 N8 G! H
分分鐘佢地唔使還錢' J) l' J+ n9 R

1 x0 b1 i7 u5 ?+ Q6 `8 {2 s( c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,
) D2 l& }! v8 O! {連國家都係問人借, 不停發債券, 印鈔票3 W+ `* h! m  D3 o; }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, P* c7 R. |# }3 Y
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
! ?5 E1 ~1 e* G) ]: R咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
0 ~( o  |' N; Y; r( _8 D1 e因為以前未生產, 先消費9 p5 ?% `# N% j
而家就要多生產, 少消費