0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ B2 S* {6 t" g8 G* @
Why bank will sell 借據給第三者???
9 b) K4 D2 |2 U( M5 O$ QI was so confused.....

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講到尾都係賺錢
* N( v6 L; i# K% {; t" u6 _) `: Dso銀行可以不斷放款) a; W0 C- ]) u, k- R" J& `
美國的房貸問題散佈到全世界  r$ g' g  j! B# L$ U

* f$ i$ k" Q1 O8 gmortgage loan % `7 P$ b) D7 Q! v6 p- R/ M
>conduit  j! i" A0 X/ S, x- W5 F! G
>RMBS(Residential Mortgage Backed Securities)0 K* _  B' e3 @( Z. Z& _" `  T
>arranger
/ u9 }" w6 B5 _; Q>CDO(Collateralized Debt Obligation)" E9 \1 j, g5 C1 o5 |  Y( |' w
最後去到投資者

Kev

i thought it is the reason of rate of return.( H% d/ W1 P, V* g% r$ Z2 Z6 |
CDs could have different ratings, AAA -> F,- v0 ]6 r8 x1 D, v" Q6 I4 x
more risky ones would have higher premium (interest rate) as a compensation for an investment.! t% A2 r$ ?# T7 D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  s& X" _! g  b# ~. v# S- \4 E+ j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ f( ?7 t9 P2 X, @7 h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 a/ U9 F6 C" L, `, k: W4 ]similar to bonds, CDs trading in the secondary market have different value at different times,
: a. S/ O& p- K5 c& enormally the value is calculated by adding it's principle and interest.
% C) u2 j9 D6 c9 {" oeg. the value of the mortgage+the interests to be recieved in the future. - l) J* v8 b0 B: ]/ V
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.: {1 M% d) S. o7 B, a! P" a9 |

7 t9 O! l4 V/ b: a8 \8 dim not quite sure if the multiplier effect does really matter in this case., G. E7 u4 v2 s4 u
in stock market, it's the demand and supply pushing the price up/downwards.
9 v3 S! v0 o! MFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) i- j- K; E2 T" _4 D) y* z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( Z; \, s0 e5 t  W9 |8 ^# v& SThe 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.
; D" H( X" d+ M8 wbut the value of their assets did really drop significantly.
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! z& y" U- B5 m* ?2 w[ 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.gif7 X7 e, B1 T: W) q* }3 J
Refer to last example,. ^' q( u6 c/ V& m, X: L, B5 I
that means bank A have no money because we borrow 10 dollars from bank A
5 P: Y! n% U" |5 G$ Q# v! v7 a1 w% GBecause bank A doesnt have enough cash on hand 0 ~9 C4 s9 m% I- G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 a1 |7 _) j' S6 r" N8 D
so does it mean if E failed to pay D, ' x. |6 p1 @% ^5 d
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
7 \$ \+ a6 X: m, P' }in this case it doesnt really matter how much money is created, . M+ x6 X6 I4 z& f1 ^
it's the problem of the debt itself.% H8 X5 c  |5 x3 u; Z$ H
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( l! T3 b( u5 s4 [1 }  v, A
小弟一直都唔明...
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+ y6 [' `$ ]  }2 O2 e! m全世界都蝕錢，咁邊個賺緊錢呢?
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! B' s, l4 d  l8 S9 ]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

, s! u8 h0 y+ r: v! h那些根本係 紙上財富  
& v; o/ D" y0 q1 G5 }& g4 B" g3 N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) z/ g2 u+ g- x  D- @( ~
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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
# u% M/ u7 U) `3 Z0 \當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 |: D2 L$ A8 B4 v
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' i7 h$ `% F$ [
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 E9 m. L: v* ?% c
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) v! }/ R5 V8 q3 K1 d; [4 N# T
計番回報率就已經係50%,所以可以好好賺
" c) Q7 N( ^9 x1 T7 @5 Y+ w8 M) w  B前提係銀行之間要互相信任先可以咁樣借法
+ C* ]& \7 w3 g/ P' L! a同埋個市場既前境要係好先得
2 B6 T7 n) m0 Z7 V" n/ p5 b4 m& A但當經濟一差,公司估值趺了,物價不升反趺9 ~) c/ Q2 p/ K) j- |
例如剛才說10蚊的, 趺到得番9蚊,
( ^) F$ J& g4 K1 i/ u咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 L1 a7 D4 Q; b+ `2 G1 i! H( D
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,
4 _0 W7 J2 n2 ?" B. 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, * J$ `1 r, g; E7 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * u+ `' e8 F8 ~- A% S$ X/ }0 w, V2 e
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6 }$ g/ W2 g" s% V2 v" \
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! h5 x' C+ r4 o9 F
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( |6 E+ u: z1 @/ [8 m# F: q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # z1 j; D8 W4 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
! o' T2 b% P! v) e) j& ?% `* o咁你話d錢蒸發左去邊? ...

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正係咁樣
1 g( [4 f) L6 a1 v8 {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
3 y2 x3 ^7 a5 L$ S% K  X3 i0 l分分鐘佢地唔使還錢1 P; s# P; Q9 b# V' O' S  _1 r

; V7 c& m5 Y# ~* L- q( v5 I$ K( 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,, z% v4 _) K1 h1 F6 u3 ?
連國家都係問人借, 不停發債券, 印鈔票
3 a1 j: o3 \9 L* b一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: k- f0 Q2 g9 t8 E5 E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
. E1 Q! E7 u$ l7 p2 G. s7 f1 H咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..., |/ o/ S2 h  V6 T
因為以前未生產, 先消費
& X: u6 b/ @& O3 u) D% m) G而家就要多生產, 少消費