0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, c; s' w* |' N# R' ZWhy bank will sell 借據給第三者???/ F  h  T+ u# ^9 o2 V+ Q7 M$ k
I was so confused.....

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講到尾都係賺錢
+ w3 A1 L8 j' `" E; _5 s( l- nso銀行可以不斷放款6 x& {$ J3 o+ B# K5 \
美國的房貸問題散佈到全世界5 f: f" u9 w: v: ^  S$ T* K9 C# U
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mortgage loan . e0 R0 E: z* X& l+ ^
>conduit
7 i, U% b9 A2 F' s>RMBS(Residential Mortgage Backed Securities)
" F/ R4 }2 z+ |, E5 a4 z>arranger
7 d2 V( `+ V, |>CDO(Collateralized Debt Obligation)  U, M- N. D. F( G) D
最後去到投資者

Kev

i thought it is the reason of rate of return., z/ O& y' ?$ d
CDs could have different ratings, AAA -> F,
: Q/ d# J8 ?1 c& |# Y# @- Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- K  l' |" v4 J" I% D* h9 E) u& wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 _: [+ [( \+ j; Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 y* |7 f) k, \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 ?8 ^  A& U6 I# b$ e8 z
similar to bonds, CDs trading in the secondary market have different value at different times,
( u  J" S* n; T* D* ]normally the value is calculated by adding it's principle and interest. : }- U( Y0 H5 l' n; N( u8 K
eg. the value of the mortgage+the interests to be recieved in the future.
, f4 c7 g- j* @/ {+ i& D; B! w* Tbanks 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.- `  x3 ~! P: z' q+ s0 H
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im not quite sure if the multiplier effect does really matter in this case.
( n: h! c$ U# V- A# O8 g% Pin stock market, it's the demand and supply pushing the price up/downwards.6 ]( c8 H& w5 @$ L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 z7 @' l5 Z/ S9 s: mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." \; y& T+ \+ G4 u2 B) n: R! i
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.
$ b: r1 J/ u( g3 P  h  J5 Ibut the value of their assets did really drop significantly.
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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
8 J$ X& O: D+ r4 S: k9 LRefer to last example,
! G& l. c8 U2 n+ C1 N  a$ Hthat means bank A have no money because we borrow 10 dollars from bank A
9 M' {1 S- L4 m' O5 w  bBecause bank A doesnt have enough cash on hand 4 J0 w6 t6 W/ o* o' D+ W" Q+ v2 z- q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: j* M) G! P. a( m# r; X+ aA->B->C->D->E
  [- c5 y6 W% t$ Q: X' Pso does it mean if E failed to pay D,
4 W: A8 v5 a# L+ W" n% ]all the B,C,D,E have to go bankrupt?, T3 D7 K3 v( |

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the multiplier just tell how much money created in a whole economy,
4 |  ^% K- @; c* nin this case it doesnt really matter how much money is created,
: i+ L$ G' f, T% x& T! Lit's the problem of the debt itself.2 i% b, D; k9 a. A0 S. 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.gif
  g; ?9 R# B+ b( |4 I5 q小弟一直都唔明...$ |0 z2 [2 w; K+ o6 N$ N

) b+ m) I, R3 l) R全世界都蝕錢，咁邊個賺緊錢呢?
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1 Z* E* K: B1 @3 }/ ?無可能淨係有人蝕錢無人賺架嘛...$ A0 ?- D4 s7 Q

: @5 ~" o! d4 c; U敬請各師兄解答
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- h1 O- s9 h0 `) t* E' ]- _& nThanks

' f, P8 O4 q4 X4 a; n9 w  S; g那些根本係 紙上財富  6 p- a+ w: k7 j' [. ^
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2 E5 V; h9 R; s) D+ f% P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- ^/ A% I: v; O% s) t' _
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
+ \$ Z$ d/ M  t4 u; m個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% k: C1 S: d0 Y% b* K- b
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. ^2 M0 P/ j3 x, C3 |5 n  A
計番回報率就已經係50%,所以可以好好賺! b* h: K$ I; G4 y0 z
前提係銀行之間要互相信任先可以咁樣借法
0 {: z- g" ~) r" B' O+ d同埋個市場既前境要係好先得
$ a( p% G% I- t- A7 \但當經濟一差,公司估值趺了,物價不升反趺
# C" E1 U. o2 I例如剛才說10蚊的, 趺到得番9蚊,
: ~4 i0 ~- r# e( T( ?- ^% s咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 D1 G! m7 |5 s/ O
所以你就會覺得D錢好似蒸發哂咁
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' w1 e4 Y) @, v7 L. g; y3 a你都可以當標野咁諗, 個樣野多人可以狂升值,
3 w2 F, x% A/ V/ M: R2 p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, ) ~2 H5 H3 g5 u* R& L/ C+ C5 \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , L7 ^, I; ^- |
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 w4 h$ b7 N8 E1 ~: ]
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
. x+ Z2 ~& ?! S% v2 V1 c5 _/ y5 z& E/ p唔係d錢蒸發, 而係比美國佬洗晒未來錢, : M. l! o" z& B+ e% R& x: P: `9 a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' p+ d* v2 M- f4 x) A+ }: z  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
; g, ]0 }% T* {/ u咁你話d錢蒸發左去邊? ...

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0 ?4 G: \7 S1 H  L正係咁樣  D  O0 i; U; Y' C, w2 z+ c. x' f& K
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( l/ f9 G/ ]+ w% L$ f
分分鐘佢地唔使還錢% s6 x+ q$ k$ Q/ u& H& L3 d1 I

- M! u' H9 J- K' C7 U. l4 G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,3 @* ?/ \( N- Q, `) m* A" r; g
連國家都係問人借, 不停發債券, 印鈔票
2 G9 J& D* D% W' D* Q3 k. t$ T一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 y6 u6 G) D" c- e8 m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 n8 T# K" x4 G! L/ U咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ Q; w1 u& p+ N0 e2 _$ ^其實係..., n  ?, J8 n7 ]  X/ U
因為以前未生產, 先消費
3 [* q$ B! L' P$ s4 I  m而家就要多生產, 少消費