0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- g8 a2 R% @+ f* ?* D: n
Why bank will sell 借據給第三者???' B# p5 _( K3 s% B* W( S7 A
I was so confused.....

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講到尾都係賺錢. c: F" d. s: D$ _* O& r
so銀行可以不斷放款5 k' f: a; Y$ S! G0 Y
美國的房貸問題散佈到全世界1 G9 u) D8 \# P7 U! C8 C; R

8 G2 w1 n% H- P0 _  D* n! imortgage loan ; x2 Y# M0 A- w9 b; D$ q
>conduit
( L) b9 @5 A% Y>RMBS(Residential Mortgage Backed Securities)" }8 V/ R7 t2 q- T
>arranger
! K9 ~: {7 h1 O9 L1 C>CDO(Collateralized Debt Obligation)
* O$ x- n$ ?" G- a最後去到投資者

Kev

i thought it is the reason of rate of return.
& E2 i1 z# i! r, lCDs could have different ratings, AAA -> F,8 U0 m" m- [: [' l1 C
more risky ones would have higher premium (interest rate) as a compensation for an investment.
* a# o$ u8 x& B# |/ l  f! t' xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* G' s1 f) h% e" y6 F; @in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 R$ ?) j% h$ x) i$ F) DAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 r) _+ @7 z  ^! L" E) v# b
similar to bonds, CDs trading in the secondary market have different value at different times,4 @4 v; Q+ M" `
normally the value is calculated by adding it's principle and interest. ) S, V! U; j, q4 j: t  t
eg. the value of the mortgage+the interests to be recieved in the future.
# [% B! ^' i5 M5 ?) \7 ]4 `/ xbanks 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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2 R6 |/ F, L; @$ b% c- _9 ^- nim not quite sure if the multiplier effect does really matter in this case.  B8 [$ u" M; r+ V+ w( `
in stock market, it's the demand and supply pushing the price up/downwards.
! [* A- s/ Y* u1 a0 R  RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! y# W! ~0 g$ R7 `' z% o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., [! p) W5 M4 q$ q$ y, P" 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.
3 z- H1 R8 n. t! i7 hbut the value of their assets did really drop significantly.
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; M% U0 v6 z- n5 g+ K& u, H% J3 t' R" [[ 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
6 E; m) T+ I( t; R0 _" I/ e2 r% zRefer to last example," J. F* O" _8 p& t) h- d2 W0 t
that means bank A have no money because we borrow 10 dollars from bank A , T6 ^& `- f2 v  T/ O, F! L
Because bank A doesnt have enough cash on hand
, N; {. Q5 Z, @3 Atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 f+ l. y$ x7 A" ^A->B->C->D->E: q/ M/ d. D( Y; U
so does it mean if E failed to pay D, ; {3 Y0 ]+ O! F5 a# r/ l
all the B,C,D,E have to go bankrupt?
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7 [- D  I: m4 u$ Kthe multiplier just tell how much money created in a whole economy,
' ?/ T% C; W: I0 c1 ^in this case it doesnt really matter how much money is created, 8 ]0 b+ M  {3 t. R% [
it's the problem of the debt itself.
4 n# |9 {$ w* x0 V) O9 A9 Xthe 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
  o# O9 r* n8 x小弟一直都唔明...; s% |: q6 `4 n* J1 K1 `
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全世界都蝕錢，咁邊個賺緊錢呢?% W3 k/ `' d* L. E' b
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無可能淨係有人蝕錢無人賺架嘛...
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6 {) u* D/ `+ ?3 d敬請各師兄解答& h7 W, H" O) ^" `
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Thanks

! _: b+ Z- I, t: a: C) U- |那些根本係 紙上財富  
' j% M  i2 |# M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# R; s3 u, R- X
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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0 |- {8 @& Y- F" F- i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ w5 L: Z2 d9 L# n6 y; a' 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; J: K  }, B, ^) C/ \: a9 `; b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- W# K/ d4 T2 t/ ~- f- G/ b扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% ~4 d* h, l! G0 I- \6 a7 K
計番回報率就已經係50%,所以可以好好賺) K# y- |; Y- t5 J* u5 N
前提係銀行之間要互相信任先可以咁樣借法
! X9 E$ ^+ b  [5 o3 ~, V同埋個市場既前境要係好先得
1 W# I/ Z, _9 p但當經濟一差,公司估值趺了,物價不升反趺1 ]$ i- w0 ~7 B( R
例如剛才說10蚊的, 趺到得番9蚊, ) f9 w: H  n( S0 H0 P& I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 d9 x& u7 ?+ t; k4 p
所以你就會覺得D錢好似蒸發哂咁: p$ t" S/ u1 k6 b5 Z# |
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你都可以當標野咁諗, 個樣野多人可以狂升值, 5 H! t+ ]. ?( t. x1 d
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, . ]4 t; O: Z0 f# |2 G$ A4 H1 Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 `" [2 M9 i( {- x) p" I- 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0 e& `, {* G( N; T0 B9 K
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
5 `" R- l' a0 V+ z7 R4 A/ {唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 y0 {9 j* ]3 w' W' ~% e) q  ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 d- ^3 [9 T& ?2 a! e2 Q
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1 r/ i/ w3 Q) V) R- b- M* k
咁你話d錢蒸發左去邊? ...

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9 y* `: ]6 v2 t  H# K% `+ C正係咁樣6 }2 [  j7 j; E+ `$ v6 H
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0 ]5 \* h& @% k* P+ [
分分鐘佢地唔使還錢! ]5 s7 s/ H! w* h9 e

, m1 Y1 d6 \8 G  `- W! n9 z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,
* O% r4 \# p! z' J' o連國家都係問人借, 不停發債券, 印鈔票
" F6 U* U% l6 t/ o+ ~3 L3 f一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, A" ~& a) C1 d
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.gif6 i: ~  S( D" C
咁而家"爆哂煲"算唔算先至係變番"正常"???

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& m/ x$ @" n0 C2 r其實係...
) j- X' T$ O5 f" ]; D2 @4 K因為以前未生產, 先消費( y* }: ^# p+ X1 G
而家就要多生產, 少消費