0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  z5 q8 _: A' ^2 Y2 O7 ?. B# a1 X
Why bank will sell 借據給第三者???
/ ?. w/ g4 ^) c8 n( G! ~I was so confused.....

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; M2 j$ {  ~; x* W講到尾都係賺錢' N8 j$ S: U0 S/ D
so銀行可以不斷放款8 P5 j$ M( W9 m5 J, K2 V- }
美國的房貸問題散佈到全世界
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mortgage loan
+ ~. i# S; _5 h- y>conduit1 q  h9 |% m! \( P, p& B
>RMBS(Residential Mortgage Backed Securities)5 ~! k" f- W; u  @- ]; c
>arranger
' i$ d; P) K  O) |! d. b8 f>CDO(Collateralized Debt Obligation)
/ {) n* W( M0 Q# u$ k9 k! h+ O最後去到投資者

Kev

i thought it is the reason of rate of return.
4 P; {) p% _, {* B" d) }CDs could have different ratings, AAA -> F,* M5 s' i8 n5 |; t0 k
more risky ones would have higher premium (interest rate) as a compensation for an investment.' c9 G. E) x. B% N
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* u6 f3 b; w: s9 O& N$ \in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ [# m& F8 |# x/ T  \; @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 W! y6 T" H. Y) b5 b2 e% w" B. Q
similar to bonds, CDs trading in the secondary market have different value at different times,1 y% S0 E6 z4 P0 Y$ m
normally the value is calculated by adding it's principle and interest. $ {) b' Q: v- o
eg. the value of the mortgage+the interests to be recieved in the future. 4 d. e, q7 J) [  p% \+ ?  V( u
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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im not quite sure if the multiplier effect does really matter in this case.* f; f; c, t% J2 U
in stock market, it's the demand and supply pushing the price up/downwards.3 G3 k7 g/ ~# n( k
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) D0 B. c7 m  t8 _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ E% U4 w& z9 G! hThe 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.
" x# i: w/ F" k, R0 `but the value of their assets did really drop significantly.
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3 I! s. i/ `- q+ j9 e4 F[ 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% }4 B+ W8 g1 s- TRefer to last example,
* K" k+ V% J% r( l) ?; jthat means bank A have no money because we borrow 10 dollars from bank A ) U! c% v/ h. r1 _
Because bank A doesnt have enough cash on hand % i9 z7 R) Q0 o$ ~* U
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E# G1 p  X, G( w4 H% i) @
so does it mean if E failed to pay D, : @0 l- x7 q8 x( q
all the B,C,D,E have to go bankrupt?* p, z, R! {- V6 M6 U
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# ]! M1 v" x, jthe multiplier just tell how much money created in a whole economy, - i' V  B% Y6 p, U9 X$ ]
in this case it doesnt really matter how much money is created,
9 v$ X% {( W8 ?) |it's the problem of the debt itself.
; k+ a% |6 @3 Q( athe 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
7 ?2 y& ]( s6 A, Q( @小弟一直都唔明.../ x/ Z* J  d& M! T4 n4 A; T/ @
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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...$ i6 D$ t; [/ ?2 A
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敬請各師兄解答
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Thanks

$ M  p7 ~6 t7 S4 w那些根本係 紙上財富  
; C9 p# y5 C- ?. Y4 u& u+ `1 O% 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 graphic4 }! `9 L3 E0 X8 f+ |: 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
5 W" Q9 `- N( Z" I5 _當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 w6 C5 \* o% ^$ Y9 {
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
" e7 {/ T+ V4 G4 K$ X個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 W& u3 b/ \. A/ e. w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ a! c3 d7 x6 I
計番回報率就已經係50%,所以可以好好賺$ n( s9 ~! }; m) O; Y
前提係銀行之間要互相信任先可以咁樣借法
2 w2 b0 g) s" D6 p- i3 R同埋個市場既前境要係好先得' p* c# ]) l& G; x! J/ b' G% M8 s
但當經濟一差,公司估值趺了,物價不升反趺
: i/ B$ B! J, w' B; s例如剛才說10蚊的, 趺到得番9蚊,
9 o- H- e2 S% R; [- `: h咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 G, q$ _' _$ b! |
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, & n8 T9 ?8 Y, ~+ W! ~
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, ( f" \# k+ s) `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 g4 k' @. ]" m" D3 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
0 Z5 [; S7 L& T  s6 k) }$ ^; I  j$ U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
: X( p, y7 t9 u5 B; M* ^& m唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) Y0 ^  L: d- w3 \8 L% W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 T3 s% B& g' G: `. X2 J
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
* W1 K( \3 J7 O. Z) h, h( H咁你話d錢蒸發左去邊? ...

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正係咁樣
& p& O+ ?/ E+ U6 r4 n+ V0 P2 k  u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
) R7 G: L" z. \- z8 r分分鐘佢地唔使還錢
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1 V; X! p& H2 Y0 t/ v% F* I6 S' K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,
1 m9 ~, F/ ?& w" h' }$ v/ ^" w連國家都係問人借, 不停發債券, 印鈔票" u, U. [, W( M9 B$ f
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* O5 G# V2 m  f" P
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
' l5 T! I2 l( z$ W% ?% t" c" |3 A咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& I: a& |* y3 j# ?% D因為以前未生產, 先消費$ ]- v  M: ~! t
而家就要多生產, 少消費