0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: W4 q2 C1 Y2 E7 R" G+ J
Why bank will sell 借據給第三者???
$ s- w8 C$ ]6 x; O! DI was so confused.....

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& T0 T; r* c  ~, P" r講到尾都係賺錢
/ B7 J( q4 ~! P& i- s' Oso銀行可以不斷放款
( L5 `5 R' _6 |$ p" U美國的房貸問題散佈到全世界
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mortgage loan ' B1 B; f0 X8 u; d
>conduit
* Q. }; I) h/ ]: I4 r3 H7 n>RMBS(Residential Mortgage Backed Securities)) Q4 ?$ I0 y( l
>arranger+ f: y/ W6 m2 W; ]  B
>CDO(Collateralized Debt Obligation)
  g; g0 |; p$ `: m最後去到投資者

Kev

i thought it is the reason of rate of return.# i5 J2 _- {5 B
CDs could have different ratings, AAA -> F,0 K( Z3 S) w1 d% v
more risky ones would have higher premium (interest rate) as a compensation for an investment.; \6 s' [0 J3 h/ G7 ^6 D7 p2 B
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ @4 |0 K7 M* t8 V' R! ^! D3 Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 j* J1 A) K1 E; aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 Y# y$ B+ }. B. b
similar to bonds, CDs trading in the secondary market have different value at different times,
+ l9 [$ R; d" ynormally the value is calculated by adding it's principle and interest. ; e( e: a0 Z' P  ]/ U
eg. the value of the mortgage+the interests to be recieved in the future.
8 z$ T4 d- @. Bbanks 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.# |# X8 Q, B0 Z
in stock market, it's the demand and supply pushing the price up/downwards.
0 n; i$ [2 O8 y. \9 H2 `8 d3 U1 B" FFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. }/ ^+ e' Q9 w5 ]  J% h/ h; HA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! ?3 V4 b; ~- J! x7 k8 k
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. - M& @& F- P( v. t3 k% o
but the value of their assets did really drop significantly.
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0 @$ m% t! r9 w1 @  Q2 b6 W/ v3 a8 d[ 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.gif9 J: D* Q# N$ I- C  t* G  R* w; Q; R
Refer to last example,( e5 r% o/ K; h! h! w3 e0 e- S
that means bank A have no money because we borrow 10 dollars from bank A
1 b; c  x# W( b0 I# R& S! [. oBecause bank A doesnt have enough cash on hand
' S* Q% s9 b9 Otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
, n  ]4 z  K8 qso does it mean if E failed to pay D, ; M# [4 u9 l1 Y7 _7 B" m2 x
all the B,C,D,E have to go bankrupt?5 |. {+ o9 h9 U# c& I+ U  e: w* v
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the multiplier just tell how much money created in a whole economy, 5 t8 i6 u, Q* m8 l1 b1 O( C5 ?' H
in this case it doesnt really matter how much money is created, : v3 E5 l9 i% p5 [& ?. u9 Y! K. F
it's the problem of the debt itself.
2 L, ?' I4 y% \. c' }4 u' uthe 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
, s: T' j, e6 E8 I# {. [* o小弟一直都唔明...
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" h# k9 ~# Z8 x* M1 ~, k# R全世界都蝕錢，咁邊個賺緊錢呢?( ~( E! B1 n& P
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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" m8 c; I/ X3 b+ R

: [6 \4 i' r# IThanks

0 f" a' W, _! G# `* E' U那些根本係 紙上財富  8 v. u4 `  z* k/ |
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' D* a7 n$ I6 R) d% d# T' r
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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
  r' ]+ O* C% [9 o% z& u當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) [$ c7 [- I  l, N7 D
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  o& N. m  G6 q* h% w. R, b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# t. P* \1 U* C. T/ G8 `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% W$ y6 u1 F6 y0 [+ T
計番回報率就已經係50%,所以可以好好賺- J0 j0 l2 O( k$ h% ]6 Z. k" z
前提係銀行之間要互相信任先可以咁樣借法8 r# k( ?. t/ Z: q  X' k. Q' D
同埋個市場既前境要係好先得7 V- ^1 u1 G0 r
但當經濟一差,公司估值趺了,物價不升反趺
) Z3 Y" c$ z- c, N2 b6 [/ j8 O/ G' b例如剛才說10蚊的, 趺到得番9蚊,
' @* j0 Q  {/ t% b, P3 V' u咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# F6 k6 z* j7 d5 h, n所以你就會覺得D錢好似蒸發哂咁' s/ a. d$ G7 B1 P
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( ~7 {( }! E. t; y' g$ 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,
, P( p7 f) a3 s, F. v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% Q0 [! ^" Z! h7 k  C% o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
0 I( I6 R, L2 D2 t4 Y$ P5 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.gif
4 j5 e$ o; B; Y- ?: q( M唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' ~! |5 M/ z$ x% G1 c5 B, p& v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 V# J" o9 s7 b2 U# }
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  H) `& ]) O" `& |0 Z3 O7 R
咁你話d錢蒸發左去邊? ...

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/ j# V/ E; u' g. f7 @8 h正係咁樣- x0 n+ Z1 e- }: n1 q5 _
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( f3 T! M# ]: [7 q' w
分分鐘佢地唔使還錢: u! v1 l1 b" F
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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,
" f  C- y/ B8 j. a$ `6 f連國家都係問人借, 不停發債券, 印鈔票# ]8 J' X9 g, M8 D& c1 x' x
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* X- a$ k/ f( ~; s4 B8 [5 O1 s0 G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.gif3 h" E: ^& r( o4 G0 e+ {9 C
咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 f/ V' l- n6 I. I* c, j, Z其實係...$ V6 w( m( F* @: D0 F, e
因為以前未生產, 先消費, \* d: |$ ^  p1 Q
而家就要多生產, 少消費