0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; }' J4 Q- K6 A! r" T. r6 J
Why bank will sell 借據給第三者???( \! t' v+ i* i" A' v* P  V: s5 Q9 }- z' i
I was so confused.....

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講到尾都係賺錢: M, F& {( v3 D# M. X
so銀行可以不斷放款
/ Z$ ?& \2 d9 s4 ^0 \美國的房貸問題散佈到全世界9 D; I; l, A; C
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mortgage loan
6 N; z6 o  h9 b, D>conduit
; k' }1 h( p4 V$ a( f>RMBS(Residential Mortgage Backed Securities)
$ [. O! H$ ], D6 r) |% c2 a5 {  B>arranger
. m, T/ j  f: W3 s! A7 C>CDO(Collateralized Debt Obligation); N; ~1 q$ w5 N- K
最後去到投資者

Kev

i thought it is the reason of rate of return.# y0 C( @- C" v- q0 Y
CDs could have different ratings, AAA -> F,# D6 ?9 L; ?3 H) l$ R
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 S1 e6 F2 j7 x) J4 j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# h6 ^4 E' o& D2 win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& t+ j) @; \1 g2 l( D5 H; [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., @0 z( Z7 c4 \1 s
similar to bonds, CDs trading in the secondary market have different value at different times,
: V8 c, H; `  Bnormally the value is calculated by adding it's principle and interest. 1 H6 R& _* }  H7 T: x
eg. the value of the mortgage+the interests to be recieved in the future. * [. _3 S! q0 r0 u7 A
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.
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im not quite sure if the multiplier effect does really matter in this case." b. l/ l! G  X, q
in stock market, it's the demand and supply pushing the price up/downwards.5 A8 t9 i6 A* y; _0 t' ]. h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, o0 z6 A6 b8 I7 D
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* {/ R/ x2 F5 x+ P
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. - `- j* I# H8 ^
but the value of their assets did really drop significantly./ P/ {; G. [* w  a, r  o! H- U
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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
  g; N! r0 c& S. M* {; [/ NRefer to last example,2 c2 H9 v) b4 D# P/ R+ M
that means bank A have no money because we borrow 10 dollars from bank A 9 b: u* a" E/ q$ S2 l, U
Because bank A doesnt have enough cash on hand
2 Z: Q3 O7 c" m5 n0 T, Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E+ A6 _. @4 }. U; J
so does it mean if E failed to pay D,
/ m2 `6 ^$ {. Jall the B,C,D,E have to go bankrupt?
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5 t- L1 e* V. jthe multiplier just tell how much money created in a whole economy, 1 R8 u& t! ^, V& F* e
in this case it doesnt really matter how much money is created, 5 ^- T( D6 \! Z8 s
it's the problem of the debt itself.
, b8 K7 U& J" g" 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
. N% O8 Q) y; U- |/ ~( E小弟一直都唔明...) k, O  N$ Z0 {$ _5 A/ K
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全世界都蝕錢，咁邊個賺緊錢呢?
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/ R) D" V3 f6 S4 V* y1 H' z/ r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8 ~8 E% }3 Q# U0 p3 [) I/ W' C
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Thanks

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那些根本係 紙上財富  
/ z# o( I7 X! P0 Y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1 ~7 M+ i5 T4 X# ^7 r/ G3 o' `
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 g0 x4 h, h5 |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: ]" Q+ Y  P2 y- a( a
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 B; b3 T% Y6 X5 j8 c( V' i: P( B1 q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," J2 p+ _3 w/ s- q7 u7 }, V' T# P  N
計番回報率就已經係50%,所以可以好好賺* C1 s0 e; [/ v
前提係銀行之間要互相信任先可以咁樣借法5 `( [* ]" x- Y0 M3 N7 x8 s% ?) Z. x
同埋個市場既前境要係好先得
/ K3 o2 r5 B  X但當經濟一差,公司估值趺了,物價不升反趺
5 j/ C  D6 `. e9 c' Z) k例如剛才說10蚊的, 趺到得番9蚊,
8 U8 G, r! C& b3 y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; r! k" d( Y8 R" S9 c% K
所以你就會覺得D錢好似蒸發哂咁" V# {0 f/ v0 |. T
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你都可以當標野咁諗, 個樣野多人可以狂升值,
9 v) E, l( Z. @7 d* j7 k/ X* j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, 4 `7 s5 P/ J. L  f  W3 v6 N, I1 L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 z: X+ M; z7 h' {
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4 P8 D% A, @9 V5 J
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. p$ M9 o8 D+ v; j8 N, x7 Y
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " v; f: T8 T: d3 ?! p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 A  L! K$ Q/ C5 Q: E) b
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
5 `0 J0 O& a! n: ^+ }. |# H咁你話d錢蒸發左去邊? ...

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, {$ a3 d2 [: I0 f正係咁樣$ U( \9 Y+ V& Z  Z& |" w2 p
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) k0 O# x" o$ Z+ ^; h8 h2 ~& L. {
分分鐘佢地唔使還錢8 g$ G' D9 k6 d3 L, _

8 ?% y0 w; z) v: r$ X6 _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,6 _# w% J; H2 h) C& t! p5 ^% o
連國家都係問人借, 不停發債券, 印鈔票
& g$ P9 J: ~" i  |& _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: E7 F8 n& I+ 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
7 D8 C9 w0 _, S" u: \- o咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 y4 g8 a0 g7 E+ D# \' U1 ]其實係...! y- l; v# O; A* ?
因為以前未生產, 先消費
3 |% _, F6 c& H: c7 O而家就要多生產, 少消費