0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, i* s3 t4 ]1 W4 Z: ~$ ZWhy bank will sell 借據給第三者???
9 F: A5 n0 M  fI was so confused.....

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8 Z/ Z5 f1 r7 o( D7 S講到尾都係賺錢
  m" ]/ s6 M1 G+ e, F. `so銀行可以不斷放款
/ ?7 W, R1 I0 i; y6 n, B1 J美國的房貸問題散佈到全世界3 X/ g: |+ M; y' l5 f+ @( y7 M

/ o) n! ?0 y  n& G& o! hmortgage loan 6 k4 C, i- f& ~2 w; ^
>conduit1 |  |/ E! U2 h; e9 [+ n5 S
>RMBS(Residential Mortgage Backed Securities)2 o6 W) T/ k% K+ g) ^
>arranger
9 x- {% ~$ R  f5 w5 t4 K>CDO(Collateralized Debt Obligation)) N$ u- o* y: N8 D9 c' N
最後去到投資者

Kev

i thought it is the reason of rate of return." F8 E. @3 H2 |( |$ L& c8 [
CDs could have different ratings, AAA -> F,6 v8 E# R/ i* [5 _
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ q) D) `* p9 [& H3 @9 k2 Y" zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; h9 G/ w7 I( O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( X2 ]2 w* M1 u# KAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 }4 c% Y& _3 J
similar to bonds, CDs trading in the secondary market have different value at different times,
7 V) U. \6 J, n' Mnormally the value is calculated by adding it's principle and interest. ( ]" f% y4 P7 S, Z
eg. the value of the mortgage+the interests to be recieved in the future.
; L! M$ G6 j6 nbanks 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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im not quite sure if the multiplier effect does really matter in this case.
# m9 F. h$ j% p! F; f4 H+ {7 }in stock market, it's the demand and supply pushing the price up/downwards.) `# r7 s: _6 r) |
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) ~3 N7 V- Y  [2 GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: B8 F+ R- o0 C- bThe 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.
9 B+ V2 |& T. T3 r7 _but 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
% x& k& x; F& O+ r) S; ~Refer to last example,
% h3 I9 h6 l: t* k4 bthat means bank A have no money because we borrow 10 dollars from bank A $ |* E0 ^  _- w6 @
Because bank A doesnt have enough cash on hand ! |* y& `9 |+ H, n/ V) p$ L0 [1 j  @) R
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# y: J$ j5 o" J  _8 i/ S" ~+ j. ?A->B->C->D->E' N1 W% z3 i# F8 ]- p9 u
so does it mean if E failed to pay D,
$ T% S8 ^! k/ ~4 r) T$ ?2 ~7 ~all the B,C,D,E have to go bankrupt?
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$ M* c8 n6 B) A9 I2 h8 a. }& o( m: I: R) @1 A0 P7 h
the multiplier just tell how much money created in a whole economy,   t, y! w' \1 A/ Y8 g
in this case it doesnt really matter how much money is created, 4 B  Q3 J( ?( a7 I0 o, r$ j
it's the problem of the debt itself.
7 E  H4 d, q5 Q* b0 x  y2 w. d" Lthe 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.gif4 B0 E0 ]8 H! Y
小弟一直都唔明...( L3 |, `0 F3 Y' L/ v7 H, I

2 @! F" {' g3 f! {) j: ^2 t全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...9 T( _! M0 n7 ?( H7 c

( l& u" t" o) h4 e1 T  ?* I敬請各師兄解答/ t' Z- i! M; z3 p
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Thanks

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那些根本係 紙上財富  9 B8 h5 v6 J7 v$ ~/ E
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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2 j/ R, M( |7 k7 u3 ~* Ghttp://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 O4 v, b' u$ w3 S! N. w當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ d5 L! {; j/ b0 c4 k4 Z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
$ |- S& B+ m9 ~& [9 S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 }; Z$ z% `* I* W) w% C扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! {) c* T  n& `% ^+ ?4 }
計番回報率就已經係50%,所以可以好好賺7 G; n+ K" t+ m1 I, `
前提係銀行之間要互相信任先可以咁樣借法; @( ]" r" j4 B9 d- y
同埋個市場既前境要係好先得
9 P& }3 o9 D+ ], [6 I但當經濟一差,公司估值趺了,物價不升反趺
5 `$ `6 o$ ]$ v. w, _1 I% H/ ?$ j例如剛才說10蚊的, 趺到得番9蚊,
2 o$ S' f# Q# D: Z7 @  h咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ x/ O0 a4 }1 r2 N; }
所以你就會覺得D錢好似蒸發哂咁* p+ J% l/ ]- ^! C
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你都可以當標野咁諗, 個樣野多人可以狂升值,   y7 Q' s7 a6 N" H  t
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, 4 s2 d7 O1 f, \7 \- |' \5 @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* P' r/ Y2 n7 c  V) U. V9 g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
+ m8 \; h( w7 e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
1 r% t% l9 x" O" v. ^- O/ b- I( T唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 F4 W1 c) g' U+ J3 ~' \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / U+ B9 B5 z, a9 i! ~3 C
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! E( C6 E* c9 {
咁你話d錢蒸發左去邊? ...

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4 M" h  X( b% j, m正係咁樣
1 X! X; R2 `& N8 ?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5 i# J' P& x; F. A  Z
分分鐘佢地唔使還錢
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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,% B8 y/ {( o  i6 W2 P( t* t9 t% s
連國家都係問人借, 不停發債券, 印鈔票$ v  l9 h. w; M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
* W/ T2 @6 o4 L$ y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
% J* `4 X. M. W咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
1 _2 J* k& Z8 x; T+ d因為以前未生產, 先消費
! G& r* P# O) K: F1 ?0 v5 F" K而家就要多生產, 少消費