0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- p: V7 |8 C5 Z3 H& a7 A
Why bank will sell 借據給第三者???6 e# U  ~- [; o# P# ^5 D
I was so confused.....

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' A2 f: k& x0 c6 ~講到尾都係賺錢
. J" Z8 A. M; J3 oso銀行可以不斷放款
( q4 b1 u; R- ^4 T7 m9 `美國的房貸問題散佈到全世界; Q3 t- ^0 t( O- t4 F

+ Q8 u, c, V: p/ Tmortgage loan
( l: F* p/ n9 N. o0 j+ r>conduit
- |% `7 t) L( r) j5 b; E>RMBS(Residential Mortgage Backed Securities); V7 ]7 R0 l8 o6 i9 b# d8 |- m
>arranger, o6 u0 a* }/ ?$ E9 {7 w( ~0 k
>CDO(Collateralized Debt Obligation)
  ^% G/ J, S6 \! m最後去到投資者

Kev

i thought it is the reason of rate of return.& p% X# q. c  p6 |: l
CDs could have different ratings, AAA -> F,
% k$ F5 W# n  ^! u; U4 `# J5 [more risky ones would have higher premium (interest rate) as a compensation for an investment.+ i. Q3 L1 K1 L4 K5 V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: o$ p( F( L  X5 b$ [% w  R
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 b0 k5 T: q0 y5 H" T1 aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 g% Z8 _% ~! y
similar to bonds, CDs trading in the secondary market have different value at different times,
# F3 {# S5 r7 \4 t1 |8 i, onormally the value is calculated by adding it's principle and interest. / I% B# ]) R4 g: Q' u3 G, ?
eg. the value of the mortgage+the interests to be recieved in the future.
5 A7 m; m: M( n* X  A7 ebanks 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.1 y; [0 Y# D% m" j+ `( y  R2 m
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im not quite sure if the multiplier effect does really matter in this case.
' w# E1 ?: m' |8 S& Y/ O5 Qin stock market, it's the demand and supply pushing the price up/downwards.  v! C5 @& w+ [2 Q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 ?0 g; z7 ~/ E1 r9 S+ @3 ~A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 D5 c) X+ r$ v7 |8 d8 i. |
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.
) G( U7 L$ w* }3 `but the value of their assets did really drop significantly.
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  Q" \, r; ^3 C# h5 X[ 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
: r& {; l. A0 S. I  v1 J% hRefer to last example,2 d. }% q) I# I- }, b  D8 M
that means bank A have no money because we borrow 10 dollars from bank A 2 |! J0 y8 B: O
Because bank A doesnt have enough cash on hand
; A: h: J2 ?- ]* G/ ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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( w+ c  S9 F- ~A->B->C->D->E
  E. w& ]+ m: o1 }so does it mean if E failed to pay D, / i& E& l' |6 q7 o
all the B,C,D,E have to go bankrupt?& e* H6 u1 I* s
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2 @' F8 _+ t, O! w- Ithe multiplier just tell how much money created in a whole economy, / ]5 n, ~, U# G) z
in this case it doesnt really matter how much money is created,
4 j( _* L- p. i# `+ [! ]' o: Kit's the problem of the debt itself.' D. i/ l7 R! l" 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! M: Z1 l5 @6 k5 _* ~+ h
小弟一直都唔明...
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+ F* I0 G1 B7 s% I1 U2 W全世界都蝕錢，咁邊個賺緊錢呢?& K6 T# C! j1 B

7 {" V0 m/ y1 h' n( h6 Y" u) _無可能淨係有人蝕錢無人賺架嘛...* ]3 I  A( N/ a( H- N/ g; X% Y! ]7 y

$ j) U) ~. F( y( H# l- H2 V$ V. \; g敬請各師兄解答. a; T9 n, V0 X# r- f/ v8 _3 N) ~
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Thanks

% C, b+ {1 f  W5 G1 B# n那些根本係 紙上財富  
/ e& p2 T( a0 N4 m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 graphic0 X. G0 g$ t' v) @, ^3 e

  m! }3 A. G# A! a7 ehttp://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 \) ~' x6 S; ?5 x) T2 G當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 ]! s9 S& a. [# K+ E! j; n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- ?3 H. S: n6 |2 s$ }
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: `# O( L- n3 a- ?8 k8 p+ G" B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 G) u; v1 N; F6 X- I; f計番回報率就已經係50%,所以可以好好賺
! W7 w% P) C# a8 g4 }) o9 }1 m: `前提係銀行之間要互相信任先可以咁樣借法
4 ~* n* @3 _1 w% _9 p8 r同埋個市場既前境要係好先得
3 Z( O) Y% D6 o" f; P但當經濟一差,公司估值趺了,物價不升反趺
6 I) [5 z+ R$ f2 x3 C例如剛才說10蚊的, 趺到得番9蚊, 1 V# t$ J: A+ P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: w% i6 Q8 g( W% v$ ?, g所以你就會覺得D錢好似蒸發哂咁
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2 I, W; s4 [5 ~5 ?2 E# @7 }/ Y' }你都可以當標野咁諗, 個樣野多人可以狂升值, ' G% t6 o; f* T5 K
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, , P- z' v2 ^* \. ~* {( h. Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. s! j/ S1 v8 ^3 x8 X" p7 X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) _; C9 w+ B, f; `8 K- K# `/ M6 Y9 @
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
( V9 S5 A2 B) o8 O8 \2 U唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 F% ~* j. [! @$ V. V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  ~6 b1 u( O/ T- \$ ~% Q5 `; L2 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
2 X% D$ L1 o3 O: S) H6 ~1 p咁你話d錢蒸發左去邊? ...

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正係咁樣
2 _3 h( y& h. F; k3 V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 T% Y1 g9 z* i( w0 e分分鐘佢地唔使還錢" d$ v+ H' B" B4 o' [

- q# }3 @! ~3 P$ {6 ]; _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,. K( S; W- \4 v$ m& e- g  l2 X
連國家都係問人借, 不停發債券, 印鈔票
8 c- D6 _  c2 ~一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" B; l5 c. y4 U9 n: q
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! k" k' Z5 {5 c% b+ C- R
咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 `5 ?) |* O& R其實係...$ M+ Y& o$ D4 p  }: F" D
因為以前未生產, 先消費
* j; z+ B- Q, V$ J- E5 P+ M* I8 @而家就要多生產, 少消費