0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 d$ g) [+ E0 C# S3 b# mWhy bank will sell 借據給第三者???' P' k' h1 s7 m" |# F" `' e
I was so confused.....

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講到尾都係賺錢
) {+ G$ O- f3 Q$ }, q1 Q; i+ jso銀行可以不斷放款
6 w  V) r( j" U. s; R美國的房貸問題散佈到全世界6 {  m4 W" B5 I  C* P7 B2 r
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mortgage loan 2 `: [7 K: h2 B/ t2 C
>conduit) \  _+ W( F& g% f% I1 F
>RMBS(Residential Mortgage Backed Securities)
. s# w3 n) Z% g>arranger, R+ r$ D4 @6 x% c. e' l0 e9 i$ [
>CDO(Collateralized Debt Obligation)
" j% U" K2 |* w最後去到投資者

Kev

i thought it is the reason of rate of return.4 V2 J$ f9 v* M. ]- V- o- T
CDs could have different ratings, AAA -> F,
, s. e! W$ _/ Kmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- s. ~- _* p9 u6 h& cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,( b% C: s5 o1 T. i# m9 B
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ j; p( z5 }" N) z5 D( U$ D0 D; |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 k, s4 O% Z$ s% @8 Tsimilar to bonds, CDs trading in the secondary market have different value at different times,# I3 H* m2 z7 h6 L
normally the value is calculated by adding it's principle and interest.
; e" w7 p* p, {0 `, ~9 beg. the value of the mortgage+the interests to be recieved in the future.
+ {+ k5 K2 V* b! Jbanks 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 u7 h7 t/ C9 |- z4 n8 J2 h. ]( |im not quite sure if the multiplier effect does really matter in this case.
( H. u; a, `8 n* O7 M. R. Qin stock market, it's the demand and supply pushing the price up/downwards., B( A* l# y; f% I# s( E
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ T+ c1 {, o, _$ }# [; ]" ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ M8 |" p" {$ Y) l& o
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. ( ^4 ?4 f! [/ W( Z9 a
but the value of their assets did really drop significantly.2 i2 c; S  B: e8 C) w3 z8 r; x

7 a! a" n' {9 H7 V[ 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+ Z& D+ `3 H2 A# ?
Refer to last example,
# h+ D6 C9 f% Cthat means bank A have no money because we borrow 10 dollars from bank A 3 t- R& ]+ D) ]. a* }/ R% {
Because bank A doesnt have enough cash on hand
3 L3 U. T* p* j1 R% Jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 \, h- E$ G1 j$ X; O2 YA->B->C->D->E, E- a5 n. k# }2 o8 K, G  X
so does it mean if E failed to pay D,
; v+ m) R; B, {( \, I( }all the B,C,D,E have to go bankrupt?  H" {/ y0 @' S

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; A* u& M  F5 U! U) [8 ^the multiplier just tell how much money created in a whole economy,
+ c8 y# T4 l+ g( `2 b" D; Z1 qin this case it doesnt really matter how much money is created,   I6 n& q2 B$ W; N" S
it's the problem of the debt itself.
* L8 ]; F! \, {0 I4 gthe 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: j& M3 ]( B' P: i% T0 O( }8 a
小弟一直都唔明...+ q3 u% z4 B  I' R2 Y
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...( U% [1 `& D& x: B
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敬請各師兄解答
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9 m4 q6 i( p1 d0 t* h9 z' S9 M( JThanks

% }+ S& a- j' \; d  _4 H3 V1 E那些根本係 紙上財富  
4 E+ V, }- z2 t" 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( g6 F3 ?' B5 X& o# p8 ^
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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+ [* e* n3 W+ R7 W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ O- m( r. ~3 S  V- s1 ?7 j
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# A8 R9 z% L) I; b% f# l3 ^* f2 j
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ j2 B) u0 k0 ]4 e8 ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# ]1 _  R+ w2 Q- ?計番回報率就已經係50%,所以可以好好賺
7 b; x! Y  X7 t3 [9 }$ P7 m' C- v前提係銀行之間要互相信任先可以咁樣借法( V( U' P( Y5 ~) ?1 r$ y8 [
同埋個市場既前境要係好先得) x- R, B' r* a( `+ W/ b5 X+ l8 `
但當經濟一差,公司估值趺了,物價不升反趺) g, {% I) j4 l: n; H5 I* Z: A
例如剛才說10蚊的, 趺到得番9蚊,
6 a( r( x3 H% U, v: V. X+ j咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 z- h# I9 V; _. J# O
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
. J5 n+ L1 ^0 s: v! h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, ' P4 |# M' y, [! O  x4 j; ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , s. d; o$ r) t+ V# 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' ~' X+ j8 K8 ]6 Z+ {: Y- r& T1 |+ 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
& D1 Q" i) _3 B8 [! U" q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 G# H! F3 h% f5 S; y+ l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 r" g; @% B! A# 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9 I) j" u) O6 ?6 R: O
咁你話d錢蒸發左去邊? ...

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0 A- Q1 J# x; X2 H* v正係咁樣: q5 d+ h; d" l2 |! Y. k& T0 \
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! T# z7 R$ _! I. X+ P$ ]1 @
分分鐘佢地唔使還錢& t; H: }6 `* W
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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,
: p; u( g+ z' e- L8 x! N連國家都係問人借, 不停發債券, 印鈔票
- V3 Y! r- z; B: {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( ]4 Y" e+ b, \7 Q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.gif5 J( I0 h3 N6 C& {: i$ f
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
) z  Q1 I& s* g4 B' a因為以前未生產, 先消費
; r3 x* Y: `5 S- [2 H3 F- X5 [而家就要多生產, 少消費