0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ A) K8 R; _9 [/ G, s
Why bank will sell 借據給第三者???; J# u8 ^* X( A$ H2 y
I was so confused.....

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講到尾都係賺錢
* J7 t; v. W( H6 L$ u' ]# n# q1 R$ Fso銀行可以不斷放款& c; P$ n) B- d) G0 |9 D: `  v3 f
美國的房貸問題散佈到全世界
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5 j& c5 R0 Q1 |9 A( dmortgage loan
" X! _; s2 e% }4 D# y+ k' B>conduit
) t6 M) o" f0 r4 E9 y1 S>RMBS(Residential Mortgage Backed Securities)  P+ n/ Q/ S/ q* O& w& _9 u5 d
>arranger/ |. M: P% L* ]' G
>CDO(Collateralized Debt Obligation)
8 N+ t* k) S) v. q3 ~& k最後去到投資者

Kev

i thought it is the reason of rate of return.
) w. Q# x3 d" [: o3 qCDs could have different ratings, AAA -> F,4 U2 h  j0 U3 |+ M7 a
more risky ones would have higher premium (interest rate) as a compensation for an investment." L1 r7 j% J* K: \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* ~4 o9 m* `9 V. {9 t# Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 T  }" [6 a$ k; ?, k4 b( G* }; iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 p3 l) [- x3 Q% q9 N
similar to bonds, CDs trading in the secondary market have different value at different times,
7 U( w3 v, x  ~. z: R5 {. Tnormally the value is calculated by adding it's principle and interest. 5 V  y# g2 L( m  l( P
eg. the value of the mortgage+the interests to be recieved in the future.
8 f$ I9 j. a7 ^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.& y2 ]' P( d% m5 T: T$ I
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im not quite sure if the multiplier effect does really matter in this case.% ]* D$ ~* C& d# }6 m7 n  M1 z. n
in stock market, it's the demand and supply pushing the price up/downwards." `, S8 g$ \  V7 N5 B
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ Y# M, b4 A( l' ]# L, X9 O. I; W) pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! A0 T7 F/ I7 Z4 X: g6 g4 v3 s
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. , N9 x2 x3 Z; y6 L1 J* T& Y$ v
but 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.gif' |7 K! `9 v( x. [: C; {
Refer to last example,
- F3 i9 A" E2 ]. dthat means bank A have no money because we borrow 10 dollars from bank A
6 u1 g$ T! Q" c. ^Because bank A doesnt have enough cash on hand . d% U' W8 b6 |
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# @, x+ T9 a6 T1 a3 lA->B->C->D->E
* ~$ l9 b) t3 z- Q- Lso does it mean if E failed to pay D,
% Q6 X+ `& c$ Q# ?  iall the B,C,D,E have to go bankrupt?
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1 w% {8 p; N  @& F' }6 i7 g, s( fthe multiplier just tell how much money created in a whole economy,
# l) O4 P/ I& S2 ~3 m+ Q! z2 lin this case it doesnt really matter how much money is created, 6 B# r; o, l6 q
it's the problem of the debt itself." a! K% L6 w% G4 f8 ^
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
* T4 ^% U% ^# W$ o& S; _小弟一直都唔明..." c, d7 r& M& a$ x$ z1 Q

0 Z) k* y. c% K( S" E全世界都蝕錢，咁邊個賺緊錢呢?
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1 S& M6 |' X- X9 \1 }: _: z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
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' `1 p0 U6 z( xThanks

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那些根本係 紙上財富  ' w; x( N# C# ?/ b
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- @) h; A$ T1 w

) U" y. I! j8 u, Ghttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
: X# ^( R. O0 Y3 K9 e# M, Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 X( j1 [6 `) B2 W6 Z1 n/ Z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4 `% C$ G/ N3 ^3 z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( @! U( U/ y3 [+ {" C3 U9 @# Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," V: j" ~' \# J$ v: P. c
計番回報率就已經係50%,所以可以好好賺
8 N, P' t6 k) f前提係銀行之間要互相信任先可以咁樣借法
3 l0 P" v/ {) P# V1 X同埋個市場既前境要係好先得3 z# W- Q. @: A  [' a* Q9 i  \
但當經濟一差,公司估值趺了,物價不升反趺
6 h/ E) {# X* t/ e; D例如剛才說10蚊的, 趺到得番9蚊,
4 z: x! Z; p5 \3 U: x咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ o2 f/ C# Y& |
所以你就會覺得D錢好似蒸發哂咁' S# e" }/ v. c2 |
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你都可以當標野咁諗, 個樣野多人可以狂升值, / `1 A4 U3 b# L! ^* G$ U
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,
0 Q- Q+ T# X9 P9 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' N7 O9 T8 C* O: ?  m1 p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 K/ U) c0 a6 h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! @' F6 T5 `) Y+ e) s
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! X8 d3 j2 H0 v3 N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % ?) C! e. r7 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
) ]  F: O1 Y. |咁你話d錢蒸發左去邊? ...

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$ N4 l& [5 l! M9 k1 Z! W1 I0 k, _正係咁樣5 h6 e% p* T- i: |
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4 L/ l/ q) f# c, H
分分鐘佢地唔使還錢" Y& \* q1 X* ]* `" P7 v; h$ }

& n. Y3 P4 ^$ z9 i5 P" {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,( V0 D& p2 d* b$ a& h; d+ L' z
連國家都係問人借, 不停發債券, 印鈔票4 V* e* x% Y4 B" v
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& r, \9 \; y! z1 y9 X7 k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" V7 M: ~7 o% ^: U: v( O& s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  n  G3 n; @4 M7 B* A) H! H8 a: D因為以前未生產, 先消費
1 N5 {+ L% P( X+ S* T5 Q而家就要多生產, 少消費