0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ o5 ]8 X- |; n7 Y" N8 ]9 Z8 X- F
Why bank will sell 借據給第三者???% U1 ^) x( w: ?; ~! r! z
I was so confused.....

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講到尾都係賺錢
9 u6 g& d- s8 _3 h% e1 ^4 `' [6 mso銀行可以不斷放款$ w( g  f/ y  L5 l0 H5 p; s# |0 B9 `
美國的房貸問題散佈到全世界
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" v' N$ C+ Y; B1 }8 t$ d  V. l( Z( Imortgage loan
% z/ r+ G' a2 a  e! m>conduit
! S9 M$ ~2 x( Y. a>RMBS(Residential Mortgage Backed Securities)  C( d* [7 U9 Q* P+ \
>arranger
- v. W3 B( C! ^>CDO(Collateralized Debt Obligation)
! ?) V6 W# z: U3 @7 r最後去到投資者

Kev

i thought it is the reason of rate of return.6 e+ C4 M9 l8 m
CDs could have different ratings, AAA -> F,$ K* ]5 A8 s: N' h; [$ p3 O5 d
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 _& V# t: f9 S/ y. F0 B% X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& A. w; G" S, T1 Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 k( T6 ]% S4 n9 N% r& MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& A9 m- j% t# I9 t
similar to bonds, CDs trading in the secondary market have different value at different times,
% @- Z/ H5 M5 o2 u# ?normally the value is calculated by adding it's principle and interest.
( ]& t$ M5 X, meg. the value of the mortgage+the interests to be recieved in the future.
+ ]9 Q: }4 H7 b9 a* Hbanks 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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8 s' Z& u# ?" F% q' F0 Z/ y7 Yim not quite sure if the multiplier effect does really matter in this case.: y, p* k! Y) I4 x
in stock market, it's the demand and supply pushing the price up/downwards.
! ]0 N. ~! _6 _/ g1 ?2 |' M' D( UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ T6 a3 Q3 f: u2 {3 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; u" ]6 V  v% G( J; l4 ?+ QThe 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.
' Z* L/ u2 m- Bbut the value of their assets did really drop significantly.9 u1 R$ K1 p& m; l- [* t
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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
( J- a, Y- U4 d: r! fRefer to last example,) d* s; H1 A( r
that means bank A have no money because we borrow 10 dollars from bank A
% T; W3 L. E& }- x2 oBecause bank A doesnt have enough cash on hand $ O9 P& N6 j$ b4 `' W7 T( H
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E2 R2 X  m  s! P' p" h# \6 O$ T
so does it mean if E failed to pay D,
5 c. U2 e2 g/ Q# ~$ dall the B,C,D,E have to go bankrupt?# l+ E, e% f- ]3 y/ ~" _
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$ f+ D! {2 {! ~; Y! [+ p' nthe multiplier just tell how much money created in a whole economy,
9 e& B# r$ g4 W9 `% w+ y& o. T8 gin this case it doesnt really matter how much money is created,
1 t$ t" \2 j7 K- Y) O$ u. ~! |it's the problem of the debt itself.- e% e: z) C* ^% b) {. B
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.gif8 r- B4 [3 d; ?) \/ `5 U
小弟一直都唔明...2 w- i8 b5 O  M9 G% _8 N/ O) N
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全世界都蝕錢，咁邊個賺緊錢呢?6 @0 D9 {- ?1 ~8 O, e# H: L9 d

& `$ z# h6 S! v8 d5 B- T. ~9 m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" r% p( O# C8 ~6 }  d: |- Y/ n
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Thanks

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那些根本係 紙上財富  ! A, F0 ?4 \9 ^; [; p
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& l) @) {6 [% C( Y7 m4 v5 b' _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! @+ W+ B+ G+ l; z) l0 M
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 _! [  w( f1 U! ~" ]0 H1 A個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 r" ]  [: [; X4 `7 n, X# g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' N( q% C# v4 d" _# a計番回報率就已經係50%,所以可以好好賺
  @1 o' v/ O8 S( r8 R) r前提係銀行之間要互相信任先可以咁樣借法
) _* w" L' t% ?( H# u9 ?+ e同埋個市場既前境要係好先得& t9 ]3 O& s2 _  F( E8 K: I7 A0 G# C
但當經濟一差,公司估值趺了,物價不升反趺9 h- P( P3 w: `  n$ f
例如剛才說10蚊的, 趺到得番9蚊,
  O5 i6 {+ E4 o6 J4 ?+ T" ?; ?咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
5 h) J6 L7 B1 u) M2 r所以你就會覺得D錢好似蒸發哂咁9 W! q6 j. P4 r- Y! }/ S

* c' \/ L) ?3 [; F7 [& S! M你都可以當標野咁諗, 個樣野多人可以狂升值,
, u5 F0 v0 B3 y" k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, ; m+ ]6 g5 @1 ^) H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 P% I7 q* e4 |1 `8 f, a" r+ o, c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: M" L& F8 L/ i3 g5 T
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! O8 Z( p  K4 w: X. s
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 O9 t/ v7 A( @! u# ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , l5 J  b) `4 x# _( V: r6 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
1 a0 Z3 e% p" n3 U1 h咁你話d錢蒸發左去邊? ...

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5 }. {, {  d7 x3 D6 j, _正係咁樣' G( s$ @6 V1 f' o9 I6 B# l
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
# u6 E6 S2 a7 m& N6 H分分鐘佢地唔使還錢
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: n' h8 ?3 `8 {7 m# ^5 {7 x/ E9 P8 m7 i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,% {/ [! h+ `9 C, Y& d
連國家都係問人借, 不停發債券, 印鈔票
2 R6 P% ^# z5 Y* [0 k" L一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 i9 \: G" W0 r( c0 ?* s
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
! X$ {! w$ W* W8 u" U8 q! M咁而家"爆哂煲"算唔算先至係變番"正常"???

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, L, k) {/ j' _& J# t& [其實係...
9 f7 ~, {! d4 U1 c3 r+ u因為以前未生產, 先消費' D5 b, Y. k$ u( g
而家就要多生產, 少消費