0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  x8 Q# o" M" w0 n5 j% H
Why bank will sell 借據給第三者???: [! k3 n3 U& @9 |9 f
I was so confused.....

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5 c* @) p+ H( H) n. |# C講到尾都係賺錢
. A# y5 G. K% [% s% x0 Q8 t, Aso銀行可以不斷放款
; p7 P; P4 l& e: V) Q8 t, }美國的房貸問題散佈到全世界
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mortgage loan ' g4 D  F) @/ d: D! C8 R
>conduit
$ M+ A6 M! g: o. B+ c>RMBS(Residential Mortgage Backed Securities)
4 X+ k7 o+ ]* `7 F* r>arranger, [" i+ ]  R, a) q* s' ]7 w
>CDO(Collateralized Debt Obligation). j( e, h, h. F1 Z% g- t: s
最後去到投資者

Kev

i thought it is the reason of rate of return.6 y* E( F1 k! i! t  V! O8 @! Z' y
CDs could have different ratings, AAA -> F,% r7 K" N% Y+ H) p: f% T
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ g; {) ~% ]( S! R9 |& E4 B
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& `: m0 g1 ^) K. |7 ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' W9 I7 n3 y  Y+ A2 D2 G  ZAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 b1 s- ~* K  u
similar to bonds, CDs trading in the secondary market have different value at different times,
- @# X$ Q9 G9 {4 ]normally the value is calculated by adding it's principle and interest. 6 S2 [& L4 s' |9 ^2 R* K! d" M
eg. the value of the mortgage+the interests to be recieved in the future. 8 V' e- M8 D. E: M/ \( M) q
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.6 z: T9 M8 c8 }, Z' |

$ X" z& f. m! s# {  N3 M$ `im not quite sure if the multiplier effect does really matter in this case.
7 N; ~  y" k) }; b: Q( L+ {in stock market, it's the demand and supply pushing the price up/downwards.6 S8 _; B* M' a  C" h+ E
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 P1 u) c+ U* t7 t$ eA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  M$ @9 i8 h+ \" V: V
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.
0 V2 @; Q) B4 Y* ?/ M; I8 J8 o* j/ ebut the value of their assets did really drop significantly.
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0 ~, \! y2 X- {[ 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
' D* D5 h* y7 [# ^( w+ iRefer to last example,4 ?7 A/ ?' ?, s) {
that means bank A have no money because we borrow 10 dollars from bank A
4 Z8 W# C% i! ABecause bank A doesnt have enough cash on hand
* g. D% v  ]8 [0 B0 mtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 g( w+ x! f* R  d2 j  P  a! d* \
so does it mean if E failed to pay D,
8 _- Q" d  R  x$ ~all the B,C,D,E have to go bankrupt?
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" B* s6 Y2 n( W4 s3 w1 G
) w! ?! s0 @4 w: qthe multiplier just tell how much money created in a whole economy,
# I4 l9 B% l6 N, ~in this case it doesnt really matter how much money is created, ' |% H; u7 e1 h  I3 e" N! {
it's the problem of the debt itself., C. h. W) B6 }( R3 {7 L4 g
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
2 G1 N! f1 c) m! D小弟一直都唔明...
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7 ]3 E$ V/ n( U5 Q: J7 o全世界都蝕錢，咁邊個賺緊錢呢?
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; |- y# _. h& j2 L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+ n, f' G' z7 e8 W# h; h
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Thanks

9 d4 y& I4 v# d% E那些根本係 紙上財富  , }6 h0 i3 @1 A. V6 Q& w; e9 _
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* U- n" Y# P; ^/ k8 Y

3 m8 Q, Y9 ]1 r: 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) t- k; e2 ^  B& Z0 c
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 B! N* v! @$ c3 I" V' x* E# O
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9 x1 l1 p; O3 T* Q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, Q. o1 ]! t% P! N! H
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, b$ ?; o/ ?/ A, O8 i& I4 L3 H; g計番回報率就已經係50%,所以可以好好賺
9 O. S; e  d) d前提係銀行之間要互相信任先可以咁樣借法
" s. b- B7 P# Q" D4 v$ R+ @同埋個市場既前境要係好先得% F8 K+ k+ p0 I
但當經濟一差,公司估值趺了,物價不升反趺
& |) w- [  A* B! c% D) m例如剛才說10蚊的, 趺到得番9蚊, ( X3 Y* S  @& s* w! o1 _! `: k) a- o
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- F6 J( ?. I5 ^% Z  W4 b* }" _2 T
所以你就會覺得D錢好似蒸發哂咁9 g! ~' }* P0 z1 L- Y1 Q3 o
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你都可以當標野咁諗, 個樣野多人可以狂升值, 5 d3 i; g% @+ q6 Q
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, ! g* D) x6 Q  e( @3 q1 Z5 Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ {+ ~3 {. `9 A* q% j
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
: y+ \* U. D: W) W7 s) }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
1 ?5 w2 ]' O. m4 Z2 Y2 ^唔係d錢蒸發, 而係比美國佬洗晒未來錢, . [; h2 v# h; Z; D" R* q/ m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 F& }% t& q# \* a
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
- I+ s, q! L: a8 U& l$ `* a; f咁你話d錢蒸發左去邊? ...

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正係咁樣1 v& T. d2 o" X* x
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
& K! W  l# d( r( }4 @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,
. |2 j% {  g! m9 x) ?# ?9 i連國家都係問人借, 不停發債券, 印鈔票
: m4 T# Z- v' l! Y$ c5 g一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% ~: i% m; ?, |6 E5 U8 o! x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
) G) K5 ]: K/ B; ]: q" }咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ q' C# ^$ N5 E
因為以前未生產, 先消費  A3 z5 v4 x- M0 o# }% }
而家就要多生產, 少消費