0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- v" t; T% o# {, l: L8 h
Why bank will sell 借據給第三者???
  \# _/ C% N* P! J. y  C1 H- tI was so confused.....

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講到尾都係賺錢
! [' |7 K0 P, b& h+ J% ^' e5 Y6 Uso銀行可以不斷放款! c  X% U* ?$ R: o
美國的房貸問題散佈到全世界. `  a1 U1 Z' ]7 O. z2 J& m
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mortgage loan
8 [# H1 f* B$ D6 f>conduit
" j+ E9 _  x% ~/ i>RMBS(Residential Mortgage Backed Securities)
8 q+ j) C3 n5 b1 o3 _>arranger
: y7 b6 v, Q* d; W1 P9 i4 t) Z>CDO(Collateralized Debt Obligation)- X! _# _6 M! n( t
最後去到投資者

Kev

i thought it is the reason of rate of return.
' z8 J; ]0 |: B) I) Z7 n9 MCDs could have different ratings, AAA -> F,% ]; q4 U! P9 Y+ u7 D8 {/ `7 x
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 D. Z/ {+ x3 p+ P$ O- smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ F: [! [# E9 Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( `# P' C# H0 j1 b; U( Y+ T5 M
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! N& ]& S# [6 y  i( Zsimilar to bonds, CDs trading in the secondary market have different value at different times,
2 O* m( N8 ]) l9 Rnormally the value is calculated by adding it's principle and interest. 1 t( r/ H* t  U/ \* d! u
eg. the value of the mortgage+the interests to be recieved in the future.
0 i% Q: Q0 Y( ]3 Hbanks 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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1 E3 \- V  Z, B/ s& P: T- Cim not quite sure if the multiplier effect does really matter in this case.
# R! i. q! e4 X! Y0 win stock market, it's the demand and supply pushing the price up/downwards.
. Y: t" J) _$ s  ]For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* N9 z6 \" e3 c6 Y+ E' [0 BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ j( P( J8 w6 Y+ I/ d3 zThe 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+ U6 w% d  j; _! d. U7 r: H
but the value of their assets did really drop significantly.
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6 G4 v9 d! g/ w4 P[ 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.gif9 ~& |- B  l3 ^7 P/ M
Refer to last example,3 s7 H' @+ w1 y0 r0 R. o' n
that means bank A have no money because we borrow 10 dollars from bank A
) d: T" w4 b0 x5 o; RBecause bank A doesnt have enough cash on hand . \: L  ^4 q# R0 [, R& T( o
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% g! ?! w3 A# p; X3 V% ]A->B->C->D->E
7 q% o0 z# S2 W5 qso does it mean if E failed to pay D,
& Y0 W3 _5 V$ {all the B,C,D,E have to go bankrupt?
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; F4 _- R1 a# U5 M) \* cthe multiplier just tell how much money created in a whole economy, / z* n2 y0 w# h
in this case it doesnt really matter how much money is created,
' h1 f: ^+ d! dit's the problem of the debt itself.+ K3 h: H, @7 s, t2 ]
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
+ S' w. \& L: M# U1 t小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?4 _+ A* O( d2 i% e# V5 X9 ?
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無可能淨係有人蝕錢無人賺架嘛...* L6 ]1 T2 R8 X2 h7 G+ r0 S( t

4 L9 C. u0 ~' e2 B, I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  
: S6 u4 `7 v  F3 a* s5 k; T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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. R( t: d- v0 y% B* X7 I+ }) N1 t3 Vhttp://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( N$ S( q! q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 t% [1 P, ]( d/ [. g! p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4 B% ^. i5 U5 Y5 r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ h! Y$ y/ x  M; i% t. \扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& s, e# \/ F( r' t4 l% b- T1 Z
計番回報率就已經係50%,所以可以好好賺
+ g. t. g5 b+ O( S! x前提係銀行之間要互相信任先可以咁樣借法
. i3 }) V/ G$ z% O- g6 U$ T/ G7 |同埋個市場既前境要係好先得
9 i2 j/ o6 J+ o, i4 y但當經濟一差,公司估值趺了,物價不升反趺
0 o: J* l; O: V4 D, O5 W例如剛才說10蚊的, 趺到得番9蚊,
9 m& |2 T7 \3 Q  K  ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' m! G3 l& Q- K. G) S) Y所以你就會覺得D錢好似蒸發哂咁8 c5 U# {) w+ Z' t) ~0 z; d

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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, 1 T# @5 g' y1 U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 T! j5 p! s) ]& ?2 E4 x2 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
- y5 T6 h+ I1 u* h0 u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
; V* c# \; Q' u2 q/ H0 W5 K唔係d錢蒸發, 而係比美國佬洗晒未來錢, & X; K8 R" G$ j: U& x, _0 n; Z; |
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 V3 V% n" f9 j! [, E: h9 R' B
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7 N1 H  u( J, {- p
咁你話d錢蒸發左去邊? ...

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正係咁樣
& w* l' v8 g- L% p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
4 M; o- g7 y/ \; p7 L分分鐘佢地唔使還錢* o& I+ x+ w3 Q- i/ 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,( R5 F+ a1 a- j
連國家都係問人借, 不停發債券, 印鈔票; O3 w) u# ?$ D, f- R5 G& {7 D
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 U; g3 P+ z& `( 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, T3 n, v% j7 x- N. N; N9 U+ n3 N5 ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ i: x& i4 }/ }- G: ~( D) o6 W- P; V) g其實係...  U  x" G/ O/ k/ ?. P7 Z8 a
因為以前未生產, 先消費
; V% r. ^6 @3 I/ R2 y+ G. D+ w而家就要多生產, 少消費