0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 d( s" B0 h/ N) bWhy bank will sell 借據給第三者???$ Y# V2 r$ C0 p3 ~; Z: D$ f
I was so confused.....

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講到尾都係賺錢
! |0 x# L6 J- ?4 f+ `' u5 `so銀行可以不斷放款1 B- E( f) f- L4 ?$ G
美國的房貸問題散佈到全世界& j% l% Y" X: }0 y

- z$ F  ^, F* P$ amortgage loan
0 d7 E0 u  }0 h5 R5 J>conduit
. I# x% w$ H) Z& [4 ?9 B>RMBS(Residential Mortgage Backed Securities)& B$ n4 {2 ~! h; Z) o  c
>arranger, Z6 j' s( s0 ^( P- V
>CDO(Collateralized Debt Obligation)  h& B8 b" p& ?; O1 `  V
最後去到投資者

Kev

i thought it is the reason of rate of return.* U$ N4 {! z# k% L" O7 W% W
CDs could have different ratings, AAA -> F,  o, \$ ]3 \' A6 m. P
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" t" A9 r6 y0 K4 v* C2 fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: B' L8 T( m, ?: x+ C" ~in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! r, h" ?9 o! ^% e8 uAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( F2 p7 N, Y3 E3 X1 l( b
similar to bonds, CDs trading in the secondary market have different value at different times,# a4 z3 `/ a$ F8 W8 i  j7 o0 J
normally the value is calculated by adding it's principle and interest. ; o0 U5 ~9 ]% B' j
eg. the value of the mortgage+the interests to be recieved in the future. ) N2 I2 ]9 J# ?; x3 |+ Q6 W& Y
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.
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8 x5 T& N3 e; ^- c0 R! N3 _; B1 aim not quite sure if the multiplier effect does really matter in this case.8 z+ u. g/ J+ m. ^
in stock market, it's the demand and supply pushing the price up/downwards." n& |: c  u0 L1 I8 D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" f, s- k! ]% m. y  ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& y9 ?9 Z8 Y# F- W: f0 H
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. 1 E7 W+ G9 q1 }5 R) H9 w" j
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
! g2 j) `/ N1 ?Refer to last example,( |8 D/ P# w: f7 G) r
that means bank A have no money because we borrow 10 dollars from bank A
& x) h( ^2 U2 Q9 yBecause bank A doesnt have enough cash on hand 7 ^9 X8 [* j, N6 b: X# f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E  {4 Y# [! F0 |$ Q8 W4 b
so does it mean if E failed to pay D, $ j# e" f' Q5 @8 ~) \+ e! M' ?4 |
all the B,C,D,E have to go bankrupt?# y3 T/ }1 @9 e
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the multiplier just tell how much money created in a whole economy,
  t8 Q4 z  D, n6 Zin this case it doesnt really matter how much money is created, " r% V4 F4 i/ A: E3 s
it's the problem of the debt itself.
% z: x- @3 k' C$ c% x# Kthe 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
1 R; ^, g2 Y9 K( D& N小弟一直都唔明...1 m5 j/ o/ B9 B) w5 V* w

) y. ^, e+ t1 |2 N" n全世界都蝕錢，咁邊個賺緊錢呢?7 s; j; A4 t! l9 _0 B/ v( W
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無可能淨係有人蝕錢無人賺架嘛...  v# |) `# ^( U( S) O7 q& J

3 n% }( D+ Y7 G+ E- z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  
7 |+ V4 D. H  {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, _$ P9 l; n1 G8 V5 k& H! D) \( P: d
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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
6 l( M  I2 q6 I' l當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 r  C+ o6 ?$ \+ B
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
0 I) s; I. F) C/ {0 r7 S, L3 ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ n( {/ v6 y% M/ s% s- c! o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 Z6 j. `, O1 W8 I; a計番回報率就已經係50%,所以可以好好賺( f9 v0 ?- t5 N9 v$ @3 a$ o! o
前提係銀行之間要互相信任先可以咁樣借法& L* I7 ^7 P, \" g9 X) [; S
同埋個市場既前境要係好先得* E& ~6 n, V- P# Q7 h  }% e" S. [
但當經濟一差,公司估值趺了,物價不升反趺
- U& w& F" E1 F2 m3 g例如剛才說10蚊的, 趺到得番9蚊,
5 v: s! W3 P7 B( C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%" a$ t! I7 b$ _- b$ b( p* G/ U' N
所以你就會覺得D錢好似蒸發哂咁
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7 D/ W; ]. r& B. F0 H- C你都可以當標野咁諗, 個樣野多人可以狂升值, 5 i' }. E7 ?, ~3 x8 t; N
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, 9 L& x) M/ {+ Y/ d& D: R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) G2 V0 \- k6 i* X4 ]2 Q5 g8 m  W9 Y
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 C' p, R- ~1 F2 I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. v3 z9 X, u! q9 g
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 W8 h2 g: T) M7 T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 u1 |8 Y) H7 d, E6 R- l7 z9 @
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' P- d# A4 I1 ?7 t9 A
咁你話d錢蒸發左去邊? ...

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正係咁樣
* c0 H$ ^' b: E+ F- g+ D' r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
( Y% {" U: e: S分分鐘佢地唔使還錢/ H- [7 [( ]+ n  k. S$ e
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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,
% c+ ]2 [4 {4 e5 h. V9 b9 {連國家都係問人借, 不停發債券, 印鈔票" x4 I' w8 n) i! u& K  ]4 j
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 L0 x7 P# X. G, R
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.gif3 S. w( K" v6 A1 T% k+ A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 o) j/ @& l1 ^  l其實係...
% L+ `% M+ `' X* ?* V7 N# `1 Y因為以前未生產, 先消費; K% M& L: F( P* _
而家就要多生產, 少消費