0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 @! k# y  r- U9 R# ~4 p( ?2 R
Why bank will sell 借據給第三者???
! I; o/ P* U6 X7 H  g* MI was so confused.....

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- ?: m0 d4 [8 `: u: ~- W# s講到尾都係賺錢" n% u4 C  c. p; N. ?; j
so銀行可以不斷放款
$ o4 V* N+ P% }% ?* D" m3 O美國的房貸問題散佈到全世界
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! O+ c4 q- b& k- j& Dmortgage loan
# A9 `3 j; k- R! G7 a>conduit$ o( [; f0 |  D
>RMBS(Residential Mortgage Backed Securities)
  f5 ?! V3 o# `; v4 S5 Z; V+ ~1 _" J>arranger
) l( @0 G; n6 p9 ^6 I9 Q>CDO(Collateralized Debt Obligation)
/ z- ~' Z- [$ C) c, {2 Y. {最後去到投資者

Kev

i thought it is the reason of rate of return.9 d1 d8 z+ y& P9 C
CDs could have different ratings, AAA -> F,
$ Y/ ~" j# p  {1 j# k1 Wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ T$ t$ I0 d0 J. Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ B9 l) p8 P8 |: a( Q+ g; j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& S" `, `6 c5 u3 [- G: CAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: j# |; w2 _! A9 A+ @" f% k
similar to bonds, CDs trading in the secondary market have different value at different times,  f0 O9 @9 O9 m( c$ I* X  b
normally the value is calculated by adding it's principle and interest. 7 C- ]$ N- {& x/ V1 O
eg. the value of the mortgage+the interests to be recieved in the future. 6 i& S2 _& H" l5 A  g
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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, t# X5 d2 N. y& i# `, kim not quite sure if the multiplier effect does really matter in this case.
* G! ^) C& Y* H; a* Fin stock market, it's the demand and supply pushing the price up/downwards.
5 G; Q! E# R) j4 r& T" j4 X/ T9 d" AFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) Y) n& D4 @) N3 W2 w8 y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: `+ {" T5 v2 p0 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.
; e& o% W3 M3 Z9 j& F' s+ ?) Mbut the value of their assets did really drop significantly.
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1 w) T* w5 l* [[ 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
" o- m& I; z/ V' z& WRefer to last example,/ K7 ?; f: p1 }) M  }# c5 K7 |
that means bank A have no money because we borrow 10 dollars from bank A
) G2 q5 k6 Y) K1 E0 |0 JBecause bank A doesnt have enough cash on hand
" v' j! g( q# otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ x$ G4 J1 i, @1 D7 a
so does it mean if E failed to pay D,
2 J6 b9 I/ M+ Q4 r# Ball the B,C,D,E have to go bankrupt?9 ?/ M4 y4 @7 L, x7 H4 s% V+ _% R
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the multiplier just tell how much money created in a whole economy, 8 t: t9 _$ p' V
in this case it doesnt really matter how much money is created, ; f. n. i0 C5 q+ H
it's the problem of the debt itself." C( Y! s) l" W1 ^. n2 F
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
# R* P7 ?8 [" X0 M4 ^0 U- j1 b小弟一直都唔明...
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$ X7 e/ v1 k5 H% x8 X, a全世界都蝕錢，咁邊個賺緊錢呢?
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; F: [: A! R5 I8 Q3 v( A無可能淨係有人蝕錢無人賺架嘛...' M9 J" W- W9 e  w' l4 q

8 l$ j3 o! ^. }  W+ P4 v) V$ ~敬請各師兄解答
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/ A5 E( j9 n3 C! ?* }, X0 _Thanks

+ F8 M% Z1 S/ ]8 \7 t0 Z那些根本係 紙上財富  
  e9 l" K3 L9 e; X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
8 @% q# O: R! c$ b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* @0 L% Y" I) c6 D4 I( {
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  b  G( J  h6 b7 y* T& ?
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) R8 ]3 |% p9 R" s" k- |0 ]
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 @' S% g0 r$ r, }$ }計番回報率就已經係50%,所以可以好好賺! u9 {5 o4 N. L* V
前提係銀行之間要互相信任先可以咁樣借法
) ~, g2 D, Q* {6 d4 Y同埋個市場既前境要係好先得6 @- I# h6 ^# @' {
但當經濟一差,公司估值趺了,物價不升反趺
; W5 ]: i# v2 W1 W9 i例如剛才說10蚊的, 趺到得番9蚊, ; U- d4 z3 ]+ K3 d
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% ^6 F* A4 O0 o# U2 ?; c% X2 L* C# t
所以你就會覺得D錢好似蒸發哂咁
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  V, @8 c; {+ f3 J- |+ G你都可以當標野咁諗, 個樣野多人可以狂升值,
  K- e/ c" v: ]& p* q, Y! r' [" D1 G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,
( ?' I- ?" E1 j8 S3 e. [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 ~/ w2 ?; M+ u  \2 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
4 E# [( }! B* j! k* B% o$ ~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
& }' a/ L, o+ a1 E: }% |唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# o' x) {3 q, h. u! Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 h. Y7 {5 {) K: c+ R
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) U9 Q! V8 l' B% T咁你話d錢蒸發左去邊? ...

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% t4 w/ @6 }' |8 h正係咁樣% C, G& W- s7 f$ l, j
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8 L) \, U) J6 w) r1 |& {! g
分分鐘佢地唔使還錢  Y) v& l- }( ]& s8 A
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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,
% [0 d- y/ g1 }連國家都係問人借, 不停發債券, 印鈔票
! ]& o. \8 b1 a" H4 ]+ j一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# n; @+ P9 \. z  e$ Z: I! 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) {8 f& D5 R$ d8 l, K* C% x
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
4 @6 w; i! n# O- U因為以前未生產, 先消費% d2 g! B' k$ O. E$ ^
而家就要多生產, 少消費