0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
+ x+ q. A9 L. j  B: `2 gWhy bank will sell 借據給第三者???
$ g0 I( L: ~( s: z6 w* R+ {. SI was so confused.....

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講到尾都係賺錢
! b  u7 J6 [4 x# ?4 L3 B% y8 @3 cso銀行可以不斷放款! h5 _% E$ F8 o
美國的房貸問題散佈到全世界# Y8 T+ M( M. r% ^" F2 }) d
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mortgage loan 5 r8 T' l5 N' c$ z4 ^* e' [
>conduit4 V0 f$ A" \$ U% d0 c' G5 U
>RMBS(Residential Mortgage Backed Securities)$ D+ l: ?8 l) M- [" J
>arranger
* r* y: o! z, L9 T$ R( q% @' t0 B  U>CDO(Collateralized Debt Obligation)* o  u  K& F8 f& p% D, f9 }
最後去到投資者

Kev

i thought it is the reason of rate of return.
) p$ R1 A0 I, k& K+ C; G1 GCDs could have different ratings, AAA -> F,7 s) }9 e& k9 c& y- y
more risky ones would have higher premium (interest rate) as a compensation for an investment.! T- F1 t  X9 K9 _( J
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ q3 R5 U3 W9 i" p. d  O# c/ r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: Z% i3 A; @' ^6 T$ y. s6 q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ U% u: k2 |+ r7 v! H
similar to bonds, CDs trading in the secondary market have different value at different times,
- q' z6 ]- F5 E. @normally the value is calculated by adding it's principle and interest.
( ^0 f2 v. k6 `eg. the value of the mortgage+the interests to be recieved in the future. % i* v) G3 x& |$ v& c1 w. T
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 e2 j; t% W6 ?3 r! x

- |$ v5 H: n7 E1 h3 Qim not quite sure if the multiplier effect does really matter in this case.
1 E0 ]) }1 c8 P) f7 ?3 u. s+ @% Win stock market, it's the demand and supply pushing the price up/downwards.
* Z( S( O0 I' T. T4 D% DFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 X2 {' G, `  s7 c) CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: r5 Z2 F6 H& ^3 K) 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 d) M) Y, ]: q* y4 Rbut 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; R, i8 t1 W. D9 w* }) K
Refer to last example,+ u! r5 G8 R3 \0 J3 R; v) J2 l0 c
that means bank A have no money because we borrow 10 dollars from bank A / a3 Y$ f" D" a
Because bank A doesnt have enough cash on hand ; |$ C  _0 u3 z* Z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* i& Q1 P# \; Z( C& p' ]: }1 IA->B->C->D->E8 I+ I9 a: E: a. T. L: Z+ R: u& x
so does it mean if E failed to pay D,
1 J- m+ }$ Z- b5 \" ]* G; Dall the B,C,D,E have to go bankrupt?
6 y1 D8 L5 G: r8 K2 ^' `. @5 a* ~& H0 G1 e4 A8 U; E$ w

1 M: i2 O' F7 a5 athe multiplier just tell how much money created in a whole economy, $ J) V: u3 d. S' z
in this case it doesnt really matter how much money is created, : ^! ~/ h0 e, A2 ~" W7 Y
it's the problem of the debt itself./ g3 {* L6 S: M3 u2 S* U3 Q
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
0 k0 _1 ^$ \) j2 p9 a小弟一直都唔明...$ C7 P2 _) d8 Z0 \4 o, P& H6 Q' B2 [
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全世界都蝕錢，咁邊個賺緊錢呢?6 e: }% j* g# c) C( R2 F
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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

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那些根本係 紙上財富  ) l  |  G: }* h. a4 w7 y& Y& g, `6 s
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: E* U$ Y( c3 b2 a, `* J+ S2 f" x( y) m
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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
1 \$ j1 `  h5 ^9 K當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ s$ y2 _1 S: u2 \+ e" Y/ c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" Y) {: ]; A/ j; ?- v  A: \
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, W- P# |: c" @' l5 k$ s4 }3 l扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
- `( D0 m3 r8 E+ u7 _) P+ x計番回報率就已經係50%,所以可以好好賺
8 ~; v) A4 {- ?+ y7 h前提係銀行之間要互相信任先可以咁樣借法
9 O) D* S( e' C- Z同埋個市場既前境要係好先得
$ H  S4 b* P! z6 B! a但當經濟一差,公司估值趺了,物價不升反趺
( }! D: Z6 U  k  B例如剛才說10蚊的, 趺到得番9蚊, 1 [( O" Y! c: M0 D
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  v, o4 r6 s) C4 u% }/ Q$ a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,
. v( t0 b4 e0 ^3 y. b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, N$ O% f* V  [# r7 A, q$ P. U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # e+ r) A0 w5 n. i5 C/ C) 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
+ D9 |8 R- T( j6 n( _- X$ 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
( l# e$ c. ^6 x唔係d錢蒸發, 而係比美國佬洗晒未來錢, . v  z& c; `" S& T! P: f2 Q. i3 `+ v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - Q8 |6 a8 L- V! Q* E! M. M
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3 {+ V0 {+ |, }6 b7 a
咁你話d錢蒸發左去邊? ...

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& P: p  |# S+ @6 o正係咁樣3 ~- R2 v; K1 w" k* q
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& v, q7 [% T& b6 W
分分鐘佢地唔使還錢/ e9 t  R' ]" h" h4 y8 `& L6 O
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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,
1 d% ^5 Z, H5 \1 n- K連國家都係問人借, 不停發債券, 印鈔票. e& X5 t* L1 R( P  @2 K2 b
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 d, o3 A8 S8 t  j5 o/ L9 l
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 A/ w0 E5 v. c$ \' p( }咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& f: N# d! o. x/ Y8 l! v, [5 k6 _4 y因為以前未生產, 先消費" G% y8 b1 l! m
而家就要多生產, 少消費