0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  K5 V7 J. f9 xWhy bank will sell 借據給第三者???
$ g; o5 u+ \9 RI was so confused.....

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% u2 \4 E& M4 U講到尾都係賺錢
- X, i4 Q0 J$ Uso銀行可以不斷放款
4 z- k3 B3 S+ `  q& o美國的房貸問題散佈到全世界" u3 a2 E+ B3 C% c7 F+ I6 R# T8 e
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mortgage loan " c* R( ?+ J: e
>conduit: a/ n  y: N  m7 M
>RMBS(Residential Mortgage Backed Securities)
  [8 C: I" U( D# S8 w* s: b# I3 |>arranger$ b/ X) m( q  r# k$ e6 C
>CDO(Collateralized Debt Obligation)* n% t$ R! ]4 `! I
最後去到投資者

Kev

i thought it is the reason of rate of return.
8 Z+ ~  }( T) G% W# ?CDs could have different ratings, AAA -> F,+ r1 i0 F& }1 y6 r$ d& W( @
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" M1 s! R) I6 e3 B# n4 B' O7 Zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! j! h0 ^9 N1 L1 N+ j" z, V
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ j; _( l. o" Z/ X4 q" B# e4 XAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  F0 n+ F$ C& ^2 H) r% {similar to bonds, CDs trading in the secondary market have different value at different times,8 }4 Y/ O6 G. |8 n; t7 ^
normally the value is calculated by adding it's principle and interest. ' S: {5 g+ p1 ]* w
eg. the value of the mortgage+the interests to be recieved in the future. * t. N' f1 [" y& h' w) {- m
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.. g. i3 |! e" `. z% \' c# z

& g% [8 C7 J" t$ m& R1 pim not quite sure if the multiplier effect does really matter in this case.+ l; u: R% I! Q8 }3 H5 _$ `/ A
in stock market, it's the demand and supply pushing the price up/downwards.
2 h2 Z) v  ~: J6 n6 V# q7 L4 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 i. W; ]* G5 P+ t' _2 U
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." d' p. ?& q0 Q! L+ @
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.
, _, S' [" X" ]: B0 D, I9 r; l! Lbut the value of their assets did really drop significantly.% [) u$ n* V1 V2 Z1 b" @# k) s
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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
& |! P& v7 ~4 w" r) q4 CRefer to last example,
) N# P. @/ ~0 k+ A3 f# ]& E% Qthat means bank A have no money because we borrow 10 dollars from bank A
/ w3 M# |9 F+ N9 V7 v- o7 gBecause bank A doesnt have enough cash on hand % \) u7 `4 I  s: c/ e5 ~8 e
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% v+ G4 _, j# J& N
so does it mean if E failed to pay D,
( F. h! `& F/ q1 F  Rall the B,C,D,E have to go bankrupt?
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$ P8 ~, r. ~' S3 `0 wthe multiplier just tell how much money created in a whole economy, & u& J+ D8 X; Q5 R& p2 B8 i; o
in this case it doesnt really matter how much money is created,
5 ~/ Y' K) c) P2 J+ Z# {" w; ]it's the problem of the debt itself.6 u( x+ o' O/ @
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+ y5 {; X0 a4 Y" m" L
小弟一直都唔明...
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1 M7 F0 h  ~* B% E: A) K9 X' ^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...
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2 z# n0 I: s) ^  N* ~! K敬請各師兄解答) |; T3 f; |$ g9 L( X5 x0 `4 w: T7 O8 d
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Thanks

9 j* A! r# \$ m2 C那些根本係 紙上財富  # y$ Q0 u1 [. q% N1 `) X
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+ ?- }4 o; d7 K" q. H. ]2 }7 B

% P) L. k" @4 b: O0 |, y  jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 q( V' w7 f" b: A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 Q; Y* Z! t: E/ ~/ E1 b1 O  o
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  C" T9 X. I; f  l2 @  [) B' Y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
7 O/ x- s8 |, E, f" u1 p4 @" V$ E扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) q/ S$ V% G3 U9 A4 ^1 H計番回報率就已經係50%,所以可以好好賺
$ J1 @4 J" {6 x" d, a前提係銀行之間要互相信任先可以咁樣借法3 ?  {, C( {: a
同埋個市場既前境要係好先得
+ l+ g% T# `( Q3 l* `但當經濟一差,公司估值趺了,物價不升反趺% Y! K! z4 [' K& s8 [4 S4 d/ }. v" \
例如剛才說10蚊的, 趺到得番9蚊, : @# T: T2 M3 V8 }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' Y  R% A4 N! c. }所以你就會覺得D錢好似蒸發哂咁
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- [' k7 I9 O! L6 r) E你都可以當標野咁諗, 個樣野多人可以狂升值,
( _, G6 _5 k3 [0 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, 7 R& [6 l4 P! j, |& p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) e! J- a" P; ]! v, 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
1 B' A* y$ N( E) C, O; G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.gif6 G8 T' V0 s7 M+ _
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 W4 ]0 ?* V1 b9 ?, l! D* l& o$ B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' y* Y$ e" a7 c, Z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
8 P# R# X. q8 z. p0 @, N, r咁你話d錢蒸發左去邊? ...

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: F, x6 |+ b: _: O1 b9 j正係咁樣8 a. S; U4 y7 y
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
% N! @1 {' Z. P分分鐘佢地唔使還錢
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# M3 Q0 K& w1 J  Z3 V% ^; X7 j* |; u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,
# R/ d+ W8 a0 L6 g% D% [& H2 u; P* y$ b連國家都係問人借, 不停發債券, 印鈔票
6 l5 k! `* I# F: o, J0 J2 H+ b一個國家好少出口, 而又大量入口 ,反映到佢唔多生產& W, X+ I/ g  k
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
  t+ G8 g. @; B" R咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 P; @( j& a( X; V* s其實係...
- Z0 j- a- E8 R2 G因為以前未生產, 先消費' U4 U/ E& }! f
而家就要多生產, 少消費