0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 t8 F1 {! d& L7 Y9 v
Why bank will sell 借據給第三者???
3 [7 z+ t9 d" N; Y5 X- ~: W8 z: rI was so confused.....

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講到尾都係賺錢
& c. ?% p3 C; D) L8 ]so銀行可以不斷放款' G5 v8 @1 P! q* {( `- e* ]
美國的房貸問題散佈到全世界
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mortgage loan & s7 n6 i% w- Q+ ]3 |  U1 {. z
>conduit
% G/ c- h8 Q: p# m) ]% f3 \>RMBS(Residential Mortgage Backed Securities)* A0 \! I! k# q) t' p+ n+ _' l
>arranger* c' U+ k  w6 a- t
>CDO(Collateralized Debt Obligation)% l$ H9 O+ L. _* d0 q: w
最後去到投資者

Kev

i thought it is the reason of rate of return.2 z2 X" C- K( y1 _# L
CDs could have different ratings, AAA -> F,. Z; X7 _& w' V" C" ?
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 L) Y! W* C% j/ Q+ ?2 M+ Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ {* x2 A' W- F  w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; d* m6 \; ^! u( Y$ `1 p% QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. e+ |; O4 b1 L. V1 O/ @) \similar to bonds, CDs trading in the secondary market have different value at different times,: e$ s) Q" y- H2 f; y) Q
normally the value is calculated by adding it's principle and interest. - O% D% e, }9 q6 U
eg. the value of the mortgage+the interests to be recieved in the future. 1 m3 m) K' c/ F/ e# K5 {) w
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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( {9 Z: m: `+ Z: n! dim not quite sure if the multiplier effect does really matter in this case." P! ^: a" Z: ^; j4 e; b
in stock market, it's the demand and supply pushing the price up/downwards.
) R# N) z/ J7 l7 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 S' j& u9 n* n  e! q) MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 ?- v( E+ m. W; Z
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.
9 a" [4 K/ |6 o9 g% ?but the value of their assets did really drop significantly.; a* \$ z" P0 }7 R" T
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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
* A5 i. C# A0 R6 y6 b+ BRefer to last example,) O9 S' [/ J9 y7 L) V; ~
that means bank A have no money because we borrow 10 dollars from bank A . G, P. L4 e7 L* ]  E
Because bank A doesnt have enough cash on hand
$ ?. A9 D" t5 q: z' @therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( [( h0 {" O4 T8 EA->B->C->D->E
+ n. Q) D; l; Q+ G1 r/ a/ `so does it mean if E failed to pay D, 5 t5 H9 ~8 n; N! c; A
all the B,C,D,E have to go bankrupt?
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0 s( g1 J- q& w4 l5 w, H6 |7 s( bthe multiplier just tell how much money created in a whole economy,
0 L; _1 m  K0 A+ Nin this case it doesnt really matter how much money is created,
# {- x3 h2 S. Kit's the problem of the debt itself.! Y- H  v' G0 p' v
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.gif7 `0 L, N  |+ t1 L+ F1 z/ m; T
小弟一直都唔明...# p# ~. S3 w  U' M/ v

! q9 V+ n% @- U7 V全世界都蝕錢，咁邊個賺緊錢呢?" E. T1 m' e3 v. t6 k9 q
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無可能淨係有人蝕錢無人賺架嘛...
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* M7 |0 x" M% `/ H' f" o敬請各師兄解答. t! }: t. i. B8 t

; Q  x5 q3 A* V" p, |  LThanks

9 P& m$ y: J% t8 V+ t4 e% b& e那些根本係 紙上財富  % S5 W$ e! G/ l6 s/ [% I4 V7 F
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& o1 T* T0 W. d, `0 S# ?& F# W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 |. W1 K) q* E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* D; b: V( ]0 M: m5 t9 k; T* A
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. u% G( }! c, F- ]: ~* _+ G8 v
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 n5 c( e  g! o4 R, V8 S, O
計番回報率就已經係50%,所以可以好好賺
# K) A8 {/ }& s3 {0 x6 r( C前提係銀行之間要互相信任先可以咁樣借法, k- ^5 w- G3 S% G4 ]
同埋個市場既前境要係好先得
$ [# J8 E9 a9 n但當經濟一差,公司估值趺了,物價不升反趺( e9 e1 t; v5 J$ G5 P$ Z; ~
例如剛才說10蚊的, 趺到得番9蚊, # J0 G/ `+ v8 R1 k, k* R. C' V; T
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# x. t/ }- \1 e# c; G( e( T3 Y2 \- ?
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,
, d  |' C- Z/ S0 l+ V5 _% A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,
1 {' D3 T; l6 F; ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) f" S* l) o. G9 T4 ]
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
, C- {7 R/ v- p7 n* A+ _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
9 f5 S( s7 G' X- E* i& |% X唔係d錢蒸發, 而係比美國佬洗晒未來錢, : g9 t, O' e  t' ~1 c" ~( F9 M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' d- d0 m0 r3 V4 t$ n
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
% H4 ^& x) w8 F/ z- U咁你話d錢蒸發左去邊? ...

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! k' [8 [  Q% g1 |: W8 k正係咁樣  w! M% ?$ ]$ g1 E4 |. q, v
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# M. k  V+ N; q9 K8 k0 e# d: w
分分鐘佢地唔使還錢) m" R+ J% [9 z" J; _

, z$ [; R, n& R$ }1 ~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,
) y( T/ ~3 o% P6 ?5 ]連國家都係問人借, 不停發債券, 印鈔票
5 M/ p5 f3 i+ _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: }9 e8 N7 p! Q! Z2 g9 E, o  I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 A$ |) }* @4 W
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% T9 S5 C' S8 V0 l其實係...
1 v# P0 l1 G/ _% g因為以前未生產, 先消費
; b; m+ g$ j3 g! q) c. l" H而家就要多生產, 少消費