0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# |7 W" B, m( \5 m3 \4 J& T
Why bank will sell 借據給第三者???
- U) D( }- Z, j! zI was so confused.....

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講到尾都係賺錢; e9 ^9 ?5 v3 G
so銀行可以不斷放款
+ k9 U4 e/ a; Y9 h) i8 a9 P美國的房貸問題散佈到全世界
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mortgage loan . @8 Z4 F: `; @: V" s
>conduit6 ^1 [: [+ Y9 e! V2 q& @
>RMBS(Residential Mortgage Backed Securities)1 ?, A( M# F' ?1 E
>arranger
" s: f4 X+ n6 k! v0 @; v>CDO(Collateralized Debt Obligation)# W; R8 Z! ]3 k* R( J
最後去到投資者

Kev

i thought it is the reason of rate of return.
: Y/ U  Z- U' uCDs could have different ratings, AAA -> F,
1 k1 H+ c( x- k; nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
, T2 j  Y* B" p; rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! w4 Z8 B2 R7 t1 p5 j6 D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. F! z9 R8 m1 N8 i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. J/ M& e2 V$ X1 S: m, R6 {, n) d
similar to bonds, CDs trading in the secondary market have different value at different times,
$ V; s; j, g% d. j/ E$ m- ]' Jnormally the value is calculated by adding it's principle and interest.
: Y$ d0 f# Z$ v' o$ Meg. the value of the mortgage+the interests to be recieved in the future. 6 H( I; S& O0 a' t( 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.4 |3 d, N/ ]0 c7 x
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im not quite sure if the multiplier effect does really matter in this case.
# G6 X! t. K  e' g- S8 H6 cin stock market, it's the demand and supply pushing the price up/downwards.
( E$ V( x$ o9 R2 K; c9 {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ r# E, b( K6 C6 |6 {2 D5 f& JA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, I3 r1 c0 {3 }' z. O4 t7 p1 A* lThe 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. , e) Z" i, ]3 e+ T0 C# a% i
but the value of their assets did really drop significantly.% F! Z; q: a$ G; W$ D/ ]2 K& p

2 v8 k3 E* W% n# ], ?% I[ 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
8 v4 q* f$ ~6 z1 b* v& H# [: SRefer to last example,
# q+ n8 G* b  i; i" W) ]- n  p0 fthat means bank A have no money because we borrow 10 dollars from bank A
/ [8 q& z. S0 L. h3 mBecause bank A doesnt have enough cash on hand / G& H: I% D2 y" g& `' ^
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* ?. t: u' S4 WA->B->C->D->E$ C* |1 M; H+ i/ k6 C+ K
so does it mean if E failed to pay D,   M9 b1 E) P5 ^; f/ F0 Q0 S+ F
all the B,C,D,E have to go bankrupt?/ `' E" C0 Z+ @

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* Z1 G, A: o; d  Wthe multiplier just tell how much money created in a whole economy, + z! u" O9 n" A  R; b
in this case it doesnt really matter how much money is created, * v. v4 y4 x9 q+ Z2 S5 K$ K
it's the problem of the debt itself./ G$ a, ~( ?# x0 l
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.gif6 b6 S3 ~8 R0 v) t9 ]) m: g
小弟一直都唔明...4 U  B/ N2 Z/ b1 m3 ]# N: P7 m

9 k7 G* p. l  }! W8 X& ^( K6 Z全世界都蝕錢，咁邊個賺緊錢呢?
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$ m0 w/ Z/ ^! N  H, y無可能淨係有人蝕錢無人賺架嘛...: k( s6 h+ F! \) T0 M

5 W8 C, u- J  K' r敬請各師兄解答) k6 Z1 Q. ~/ o" {
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Thanks

7 O1 h( W6 I  `. F那些根本係 紙上財富  
/ ?# C' |+ ]# u( c' @% C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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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$ b- W( \1 N( G7 I% a7 K% m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 |" J  C" C8 W5 |. }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/ j! c: C: [0 U3 k4 k8 l) @. C
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) t, H+ E8 b* j4 g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: M" a. k' u* P$ Y計番回報率就已經係50%,所以可以好好賺
7 m8 _( ^, J" F& p: ]3 |5 h前提係銀行之間要互相信任先可以咁樣借法. c$ u# p1 C% Y0 P$ a9 `
同埋個市場既前境要係好先得" e+ O* ?. x- R6 Z. f/ D
但當經濟一差,公司估值趺了,物價不升反趺' e! y7 {8 x9 P) y7 w5 u
例如剛才說10蚊的, 趺到得番9蚊,
" S/ E6 F% z5 v( \% I& F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% R, ~, ]) o1 Z; Y: N, W
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, ; r; T6 A5 q, v7 a0 u- J
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, 0 J1 m8 N, c6 X- [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 [$ [) C# P& w, v. K' x8 Q% h
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
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fcukyoukelly

原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% D4 ^, K+ u' K/ N% O, }* d( O
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 S6 f: W& I8 g5 C4 u1 u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 \' w& S( [  U
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
, a& D8 ]/ f1 a$ Q; c; _+ f咁你話d錢蒸發左去邊? ...

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+ h' W0 [" l* G: l' k6 n7 Q, Q正係咁樣- \- q& Q+ w* K* k  D+ b: C  A
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
! s* b+ Z8 o; J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,; w4 K* ?5 }$ k0 \. X% [3 l
連國家都係問人借, 不停發債券, 印鈔票9 c* K+ r! K- s+ d3 Y9 H8 k4 @
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% N2 S7 n2 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.gif
) H  U6 d8 |5 n咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ n' E. W: W$ z: t/ ?4 U" n. w
因為以前未生產, 先消費3 E6 k2 F; @' A0 X
而家就要多生產, 少消費