0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ R9 @" j5 E( m1 S- e& L9 a0 d
Why bank will sell 借據給第三者???
' _$ \9 _/ E3 C7 p# L- K& gI was so confused.....

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講到尾都係賺錢' ]7 W% m7 y; l0 g6 \. F* v& ?2 {
so銀行可以不斷放款) g5 y' _' _, W. n- G1 G
美國的房貸問題散佈到全世界4 o, G6 w: H' N" H
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mortgage loan 8 T% F$ t1 j8 q; J& b; q' ]% c' b
>conduit
2 t1 n! c: G9 I>RMBS(Residential Mortgage Backed Securities)
% t: }0 K/ u; y- G# j2 x" k>arranger  I  c, k9 {% E7 |/ u0 y0 W- L2 ]
>CDO(Collateralized Debt Obligation)
7 x( J1 u3 q1 T- J5 F最後去到投資者

Kev

i thought it is the reason of rate of return.
4 {! w8 z! U% k8 D. @3 i+ {CDs could have different ratings, AAA -> F,$ s: r8 Q5 I& C2 M% p
more risky ones would have higher premium (interest rate) as a compensation for an investment.4 a! p$ w- w2 C, \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! G( n6 z* T& G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. H. C1 @$ c) y, Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& u$ Y" R9 ]- S+ r- }6 U- K
similar to bonds, CDs trading in the secondary market have different value at different times,
7 i. t+ @! T+ V. Z  G" Tnormally the value is calculated by adding it's principle and interest. 4 K+ u" U3 T  `: q8 \* b: q2 z
eg. the value of the mortgage+the interests to be recieved in the future. * D) u+ O1 E1 w6 B" h& t1 D3 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.8 i: n* n% M1 c1 L  N; y% i
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im not quite sure if the multiplier effect does really matter in this case.. |0 [7 r9 @2 ^9 B# R
in stock market, it's the demand and supply pushing the price up/downwards.
1 j* e1 H( M% Y+ TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# d+ U; s1 ?. F9 @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& x* m2 K0 \, X
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. 0 ?( K$ V4 `7 l) s( y: E2 Q/ _
but the value of their assets did really drop significantly.1 ]6 n0 |9 a$ m

0 r3 u9 ~8 t1 F/ T/ ]) z4 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
5 ?2 ^% k( _6 h0 H4 LRefer to last example,
  z# L3 i2 b0 W! N( G8 v5 A) e6 Fthat means bank A have no money because we borrow 10 dollars from bank A ' y, y* i7 v% \$ C2 u  k6 Q# t, p( q
Because bank A doesnt have enough cash on hand
2 \" G( n1 S# O* }7 X# R8 M9 u+ ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 O: q  Q/ W6 LA->B->C->D->E
( k( \/ K8 p$ Wso does it mean if E failed to pay D, 3 [) o- y! i3 J+ _
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,
, \6 p8 J5 x( e- W" v+ ain this case it doesnt really matter how much money is created,
; @- {( x- z! P+ pit's the problem of the debt itself.7 m4 t- d% [$ Q; ^$ G* |( M
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
% @+ X& ~; X. X% a小弟一直都唔明.../ n, A1 d( B% Y( A
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全世界都蝕錢，咁邊個賺緊錢呢?2 y% q: y' Q% S/ o7 k& w
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無可能淨係有人蝕錢無人賺架嘛...- \  L6 Z9 t+ G* e
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敬請各師兄解答: l& e4 R; `" M( H9 `; R
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Thanks

* U5 Y( Y9 G5 |1 v9 V* d那些根本係 紙上財富  
8 R2 m. \# \0 D* L' \" [, `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 graphic8 ^! [0 r0 X, ?0 z# Y0 H
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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
+ q7 _! W3 E& D6 r- G' X當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 G( B( W$ ^5 \
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
" ]2 g: S9 _: f+ ?2 _% ~  }個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! J) W! S5 ~; U8 I& k+ S: @2 w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ P9 h: I7 M( O0 x; n3 O: I; X5 V: ]
計番回報率就已經係50%,所以可以好好賺
4 C# S, @9 x% [* s# o( K7 i: z前提係銀行之間要互相信任先可以咁樣借法
/ l2 }5 W3 ^% N( U, W5 J3 u同埋個市場既前境要係好先得- @' K/ _5 _1 E3 H: Z
但當經濟一差,公司估值趺了,物價不升反趺
( [  U2 X0 f3 [* K5 b例如剛才說10蚊的, 趺到得番9蚊, - F' \$ z4 c/ N5 a4 ^
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# a# M+ L2 z" m; L2 F所以你就會覺得D錢好似蒸發哂咁
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! ^. ]& ]/ y1 v+ y2 q2 X- z. Y你都可以當標野咁諗, 個樣野多人可以狂升值,
- [2 Z9 G2 b$ C( q+ ~( @  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,
) e' t- l& Z$ R5 o: w7 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ E. |6 l- z: q, V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
% k* P. c5 `' v8 i! {4 x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+ }* m+ O0 E9 n# {% M
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 }& r. f# ]- z  S# b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ e$ A0 J7 _8 Q0 h, s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 M# M0 R4 C& M6 ~1 n( A
咁你話d錢蒸發左去邊? ...

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正係咁樣
) V# P  u7 t3 w1 f# V% a3 F* G' T  z% _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/ @, w) c2 W3 y' l; p
分分鐘佢地唔使還錢  R5 `/ k) ~2 `) z
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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,, o+ D% e) r! Z, A8 r, w0 v9 B1 s9 u
連國家都係問人借, 不停發債券, 印鈔票
$ w% u/ _1 g; A3 D% A  U* O; t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  j" G# V. Y# [4 J( J/ _
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. ]) W) O4 I1 b9 a
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
+ `- J% }- N7 V( c( ^, \" y3 n% }9 \因為以前未生產, 先消費  C" x5 Z6 G4 b3 @, q7 w3 J
而家就要多生產, 少消費