0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! j- _& z( t% W) X; N& {: UWhy bank will sell 借據給第三者???
* K, A3 w% Z: OI was so confused.....

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0 p/ Y% d5 [, }7 z+ v8 h講到尾都係賺錢
) z: s. N, Q0 ~3 V( C) D) E* Z6 m; U9 Lso銀行可以不斷放款
8 [$ X7 P2 W7 E美國的房貸問題散佈到全世界* l- m1 c0 y3 F! {- K: ^8 \
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mortgage loan & C% e/ P: F& U1 |3 b
>conduit
) @4 k! q' ?! s& p% y>RMBS(Residential Mortgage Backed Securities)
6 M7 U, K' O5 H>arranger
. O7 }! y; Y* Q2 W>CDO(Collateralized Debt Obligation)
" s# Q+ ^/ g% Y) O" S0 }最後去到投資者

Kev

i thought it is the reason of rate of return.: J' x3 e( s6 x- ^) s5 x
CDs could have different ratings, AAA -> F,
& f' o4 s' b2 o/ R  l% Q1 @more risky ones would have higher premium (interest rate) as a compensation for an investment.# `- z3 t4 D  D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 |1 h5 n# |% u- w6 x
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( U' f6 H+ O+ v: z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 i7 Q/ {  j: C4 A, q/ R" y1 [
similar to bonds, CDs trading in the secondary market have different value at different times,0 e( Z$ h5 @' b, {* |* L( [$ m
normally the value is calculated by adding it's principle and interest.
8 y3 Y, |8 C+ v6 U0 X! teg. the value of the mortgage+the interests to be recieved in the future. 3 w/ r  d- G1 y# P4 P% ]- V
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.  ]3 b: R/ t& N9 \9 _
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im not quite sure if the multiplier effect does really matter in this case.
0 ~$ D7 ~  V: T! X3 h* R, b0 L: Kin stock market, it's the demand and supply pushing the price up/downwards.
! g, |0 S! Z3 o- ~& yFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 s" [* _- c* v! BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% `6 i! r. T% ~+ C4 C4 UThe 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. : h. i6 m" r+ N6 C5 z+ j  y
but the value of their assets did really drop significantly.* ~, d* a6 w+ x

. [* x. j. C* ]; q[ 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
4 A$ Q; `( ?9 k6 ORefer to last example,
, w9 z; B; _, e* q% M7 y/ e3 lthat means bank A have no money because we borrow 10 dollars from bank A
0 j8 H* H9 \# YBecause bank A doesnt have enough cash on hand 7 N4 l  [9 ^' k( c  W$ t# P" T
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: F. A* v, j8 v9 o" N+ d2 J: Q  H* e4 X5 W
A->B->C->D->E
- V5 i! O0 K" f/ G6 _. B: Hso does it mean if E failed to pay D, . }8 [, D+ A" s
all the B,C,D,E have to go bankrupt?
8 O7 C" T, J/ j' X3 b8 ]2 B( f& G8 _' d7 `) o2 s! b

. u, X: E, s: v$ W+ r* |! _the multiplier just tell how much money created in a whole economy,
$ `' I% \; T. X5 a; Vin this case it doesnt really matter how much money is created, ( P2 l' J8 |5 a* x: ^0 F
it's the problem of the debt itself.7 o) \. A3 @* g/ ]2 ^& K( R; c
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
/ j9 X/ I4 }' W; S& {  b  d# r- G4 }# E小弟一直都唔明...
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, z9 O+ F4 l2 F6 m0 m全世界都蝕錢，咁邊個賺緊錢呢?
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% N# r9 Q" G+ }+ e/ M/ }無可能淨係有人蝕錢無人賺架嘛...; S& _6 C$ n: C/ v
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敬請各師兄解答
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$ \5 |+ F2 G# hThanks

5 P) R2 q( @+ a0 ?: Z那些根本係 紙上財富  8 j/ {. D2 _) I$ G
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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+ U" \1 S& ~/ N+ r" ~( Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產& S. X' J( o. B, ?/ q
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 X3 z$ h; q& s1 `4 c( V' a4 F5 i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7 u: w& l# L8 L  g3 D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 c7 U. v. w; y- I. }5 y# Z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# f% o( ~8 m8 F& p
計番回報率就已經係50%,所以可以好好賺
1 ]& `9 y" r0 t前提係銀行之間要互相信任先可以咁樣借法/ q) {; |; W8 J9 k, N) B
同埋個市場既前境要係好先得
9 @$ X: m" {2 v: s7 P5 g, C但當經濟一差,公司估值趺了,物價不升反趺, X7 a6 l2 _! Z* |, |7 D7 v% @
例如剛才說10蚊的, 趺到得番9蚊,
+ Z# ]/ a8 M, \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 h4 y# E  j/ n" O
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,
* I5 k/ i/ n- F) d8 R1 z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,
! |6 n% h! @; c! j; B- S0 ]3 Q" `1 z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. L( v' \4 g# k, n' b8 S. c( L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; j# X$ S+ R1 _, \( f
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
/ e+ x6 ?# H, ^) l唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 ~; A& l% v- ~5 z0 H( p  v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) C3 j6 v+ t! p* 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* ?9 e0 K; P& G* z: }+ r8 }: ?
咁你話d錢蒸發左去邊? ...

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; u0 B! G8 h5 F2 ~* O% g正係咁樣
3 A4 Q! d+ t$ U" q! l* }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
6 ?; U2 p0 J% \( V* B, R: |分分鐘佢地唔使還錢
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2 q! g: ^; |2 i+ Y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,
* \+ p  k9 B, `9 p連國家都係問人借, 不停發債券, 印鈔票
, r: _2 {; t: ^! K/ }1 F) J5 t一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" e4 i; [& s9 G- X; B5 V4 w2 b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.gif7 d. f4 w5 n  a% L1 [$ A; O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% ~# G6 Q- ~8 g2 b
因為以前未生產, 先消費
" z4 z& k9 g3 `" o* W, p5 l) e而家就要多生產, 少消費