0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. s* u0 k7 q7 y! }. Y' T
Why bank will sell 借據給第三者???- l2 q- z+ I0 e4 ]& c& H0 S
I was so confused.....

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講到尾都係賺錢
; G# N3 P7 [* T5 }; Yso銀行可以不斷放款
, P6 K$ j  Y; o) t0 \& M4 G美國的房貸問題散佈到全世界
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mortgage loan
0 j. t$ @0 d6 ]4 c>conduit
( Q9 }* L7 i: f/ Q, T+ B! s; }6 D>RMBS(Residential Mortgage Backed Securities)
: z' n1 \) f2 C8 `0 w% L2 j+ Y; W>arranger
6 x3 g9 D1 p# W  t>CDO(Collateralized Debt Obligation)  \! `- J) a2 V: f9 W1 p0 p
最後去到投資者

Kev

i thought it is the reason of rate of return." ?1 C: a6 o) J2 ~" T, M
CDs could have different ratings, AAA -> F," Q+ W0 T' j% k# [; \0 b1 W; R
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 v2 |( M. z- r6 Z8 G+ T" ]
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) {9 S" }) m7 i% {& T0 j+ ], q
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) B# M% r/ z7 |+ Z0 l+ I, ^
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( b( C1 V2 T9 Z; u  Psimilar to bonds, CDs trading in the secondary market have different value at different times,
* [$ k1 I3 M5 S; ]# m+ qnormally the value is calculated by adding it's principle and interest. 5 n( H( ?# q# f  H
eg. the value of the mortgage+the interests to be recieved in the future. % P& g8 H: ^2 Z& C
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.; E; P! L- n- V
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im not quite sure if the multiplier effect does really matter in this case.$ c. {# |, G( j
in stock market, it's the demand and supply pushing the price up/downwards.9 ^5 b" c2 Q; Q' \, ^1 M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, s1 [9 T. ^! b: u" L* `% _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 l; Z" q9 b( n+ ^* [0 KThe 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.
* n' h( m9 A" X2 Sbut 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.gif2 i7 N0 W) X; @1 B
Refer to last example,: Y/ F5 C( g  l! w! t
that means bank A have no money because we borrow 10 dollars from bank A & R5 n" G: L6 ]& ?- B
Because bank A doesnt have enough cash on hand   C; q  V, P) m8 Y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" S* j8 f4 S# P% H6 yA->B->C->D->E& m+ o  O3 f( [! e/ K% b- V
so does it mean if E failed to pay D, ) k; h4 \+ [: t" q4 l6 H  X8 s
all the B,C,D,E have to go bankrupt?
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0 C/ Z  I* i; _; |  j- Xthe multiplier just tell how much money created in a whole economy, ( F& H- H* N5 C% k) P
in this case it doesnt really matter how much money is created, . X8 Q) q. f" b1 B! K
it's the problem of the debt itself./ y% b) w8 r2 Y6 }9 \" n0 j% v
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: r# R6 `" V% w) Z8 y) d& o
小弟一直都唔明...
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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...
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敬請各師兄解答( l. V7 Q+ J( z
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Thanks

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那些根本係 紙上財富  & T8 Q' ]" c7 I4 J/ }# K- ]) c8 w7 B
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- P, e5 ]* d  \" T
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. k9 D: c  c- ^' k" c: J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5 _* X" Q1 X" D- `, D0 P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  D$ j2 K' `5 t1 C扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% n1 D1 P1 J3 r計番回報率就已經係50%,所以可以好好賺
. t. |4 j3 m: ?3 ~5 J( a, N' \前提係銀行之間要互相信任先可以咁樣借法
0 b) B: ~+ ~# }4 v) V$ ^/ [同埋個市場既前境要係好先得/ V. B  e7 Q/ v% X- G) T( c! k
但當經濟一差,公司估值趺了,物價不升反趺
' N5 u9 x" g# X例如剛才說10蚊的, 趺到得番9蚊,
& O' p$ u, ?, N: f咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% Z" L+ e5 g0 q- f& ~9 R所以你就會覺得D錢好似蒸發哂咁
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4 {; B. _9 R- O, b3 S/ {) o" h你都可以當標野咁諗, 個樣野多人可以狂升值, . u; ]- f2 Y, z2 k2 ~
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, * |2 u; m; [; K# ~) E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) K8 n! L& j/ x7 t' r5 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
  @! k2 o8 d! v$ r" ?0 [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.gif2 l3 v# B! s: M2 t1 p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . C8 ^$ ^4 t9 h3 W* k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( b8 z& v: o4 N0 v
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! [' O' W+ t  p; d& x
咁你話d錢蒸發左去邊? ...

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/ f/ M- x( o% I  c- l( w0 h正係咁樣
; G/ q3 K' U' O- q& Q" i0 \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
# h" W+ w/ R: |. R! K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,
: M3 S. I) |) o: m. c8 |連國家都係問人借, 不停發債券, 印鈔票5 U$ i; w. o( h
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  i2 H8 T2 Y+ i, F6 b/ E
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* p8 b8 s! X% ?, c0 w# U0 ]1 C$ I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...* v$ i7 J! K" X  B4 l# l; f
因為以前未生產, 先消費
' f+ Z+ q4 i5 H: L而家就要多生產, 少消費