0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif, ]4 g! O  A" ?, ]5 ]+ ]" P7 V
Why bank will sell 借據給第三者???( n2 O7 Q) s! c% m7 l- c! S
I was so confused.....

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講到尾都係賺錢
' `8 ^  Q# d% C, k! F( uso銀行可以不斷放款0 @! @8 O+ D; k7 L0 i1 }
美國的房貸問題散佈到全世界
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# C( Y$ a# _5 [& h: ^! |. F" Rmortgage loan
! `" M" H5 K% l. d/ N7 m>conduit
! z, p2 [2 H7 X>RMBS(Residential Mortgage Backed Securities)
9 P) G/ K& a: X6 I$ z>arranger
; g9 A& U/ N1 T( r* R>CDO(Collateralized Debt Obligation)
4 w$ e0 ], J6 g% [" A# g4 `最後去到投資者

Kev

i thought it is the reason of rate of return.: a* w2 t% P1 z7 ?1 O# t
CDs could have different ratings, AAA -> F,' L% v& U& w- N
more risky ones would have higher premium (interest rate) as a compensation for an investment.; H3 H; n- I+ d5 @. A* ~% o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 K7 {: _( k6 ]( B' d* m  Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 p  v( U$ z2 g2 a/ w
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" P: }$ o4 L" F  C0 r: Ysimilar to bonds, CDs trading in the secondary market have different value at different times,
' A; V: ?& D1 A) K/ w( Anormally the value is calculated by adding it's principle and interest.
' y2 z8 @2 r5 M9 j' X: Eeg. the value of the mortgage+the interests to be recieved in the future.
1 X9 n8 e7 ?/ u9 P# P) ^# }; s7 D+ Z6 ebanks 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.
1 M/ U2 k- ~% i/ ~1 L# Iin stock market, it's the demand and supply pushing the price up/downwards.. J/ K) N$ p2 D' b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ Y6 ]9 o; b$ m- P  v( ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ i, Q& }- L) n; N
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.
8 A9 w; [# X  @7 l" Abut the value of their assets did really drop significantly.
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. S6 z. @% g# M% [[ 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.gif0 p! i& w9 ?9 F2 B) x
Refer to last example,
* H8 i6 |4 F' F# j0 wthat means bank A have no money because we borrow 10 dollars from bank A
5 j% _7 L# s: gBecause bank A doesnt have enough cash on hand
# w/ k  ?6 b# O/ _$ t' Etherefore bank A need to be bankrrupt ??? Am I right ?? ...

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' m* s& x8 ~! K  w  c) e, tA->B->C->D->E6 r( W# Z4 T$ a/ d* W+ x& u
so does it mean if E failed to pay D,
$ t2 f3 B  T9 r6 P8 fall the B,C,D,E have to go bankrupt?- X3 |* V) a& x: f) s1 k
7 j3 s+ g& j5 n7 G

1 Q5 l  ~, v% h; Rthe multiplier just tell how much money created in a whole economy, ) q8 G# e/ g9 s$ Q9 `
in this case it doesnt really matter how much money is created,
( \5 l) l6 d9 _0 d2 B9 y" ^: P, Mit's the problem of the debt itself./ `" a* \' `' |3 I3 F5 i
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.gif6 C2 t1 N* n8 m! V" O
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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$ V, G5 s* Z3 A+ I: T+ ]0 p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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Thanks

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那些根本係 紙上財富  
7 s. e8 ?2 Y2 i. M# T0 u: m. d7 I) t8 H! S3 I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, \3 ^0 D7 s% L3 x

0 \  q# Y4 c: D+ x4 \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
" ], D3 c4 q/ J5 U7 i; \( a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 B# e% Q- J! a! `  M7 g6 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
0 @. Y1 _3 ]# H% g8 |) S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 m! w  c: {  H. {/ ]
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ Y: w+ P+ X7 v0 t& p+ x: B計番回報率就已經係50%,所以可以好好賺! f0 w' Y) w& U7 ]
前提係銀行之間要互相信任先可以咁樣借法0 l4 Q3 H, q, N! R/ p. y
同埋個市場既前境要係好先得
. G0 N. l# V" K+ P( U  L" S0 r但當經濟一差,公司估值趺了,物價不升反趺$ b* f  W) t, Q
例如剛才說10蚊的, 趺到得番9蚊,
6 @1 F9 x6 x% f  ^2 {6 W" Q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% L/ O  F7 F! u# z) s* _
所以你就會覺得D錢好似蒸發哂咁5 @6 q2 _/ ^6 u( T1 M1 U$ v8 n% {
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你都可以當標野咁諗, 個樣野多人可以狂升值, " |$ Z9 T% j" b4 n( 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,
. w! g* x- E$ t) p8 n! ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . P5 ~4 A: J3 `8 L) U- ?0 x% 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
- O" i# E- I9 ^6 r, z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& C+ o* I# f% s9 M4 V$ G0 ?: l
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  b8 e; ?/ r' D) r& x* M. y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 Q) m% I- _2 ^; o" v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2 q. |. Y; n( m5 w. c
咁你話d錢蒸發左去邊? ...

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9 _) a$ O$ P6 T% y1 q" D9 G正係咁樣
* p& e% d9 }6 z- c( t. d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
5 L4 }5 O/ K4 ?/ Z+ p分分鐘佢地唔使還錢# ]. @9 c6 ~9 l& }1 z1 {  N  F0 i/ k

6 k9 _4 f5 l: ]9 }$ W  ~0 w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," x% E1 |, {3 |3 @0 f
連國家都係問人借, 不停發債券, 印鈔票
, q8 j8 R& p' y# [6 g0 R6 ~# ?' m一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  E7 R! G  ~. X8 E0 |
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.gif4 U4 S% `8 g7 R" l0 M! y7 @+ w
咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 ]. F/ S6 A& K3 f+ V; P- t- e其實係...
" F$ z, e" D" ^* p5 j因為以前未生產, 先消費: v! x6 I; G! s- f+ F
而家就要多生產, 少消費