0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 ~, P1 ?+ y' M' ~8 {; yWhy bank will sell 借據給第三者???
* w2 I9 q% v- uI was so confused.....

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$ l$ p- Q3 |. c, |講到尾都係賺錢% ?3 q$ P2 t7 U- D7 e
so銀行可以不斷放款
( ?5 e( b% [- S  }2 ]2 Y美國的房貸問題散佈到全世界
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mortgage loan 0 O& g6 ]/ v4 Y6 N- ^6 `2 S
>conduit
# a' D! m+ _3 j) @+ K# M0 y>RMBS(Residential Mortgage Backed Securities); y; a7 D2 R; n/ I& A4 l4 b
>arranger
$ f1 S; A) H, o4 l+ _3 Q>CDO(Collateralized Debt Obligation)5 o9 ^/ c, U" y0 z' W/ ~
最後去到投資者

Kev

i thought it is the reason of rate of return.
: J- [  }7 r3 s6 V( iCDs could have different ratings, AAA -> F,
  c+ o, j/ F, w( i- l( omore risky ones would have higher premium (interest rate) as a compensation for an investment.
) {4 {0 \( D. S% \% Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," W8 E7 D, D/ S' U/ `7 F# j. j1 {( l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ }$ L& ^) z3 u3 X, _" \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  @+ ?9 _0 e3 zsimilar to bonds, CDs trading in the secondary market have different value at different times,+ L2 b/ K) e7 W) A+ G& u
normally the value is calculated by adding it's principle and interest. 5 g# w- g* X1 F2 \, d
eg. the value of the mortgage+the interests to be recieved in the future. . [1 y! G' J: n! ]" w5 o
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 Z# q. i6 q' x$ ?
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im not quite sure if the multiplier effect does really matter in this case.( N+ Q& d! \7 P9 b
in stock market, it's the demand and supply pushing the price up/downwards.% y" Z0 ?; k8 h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 P( Q* p& \( Y( _! V! i1 PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 d1 u) t) F+ ?7 h0 ?2 [9 f# n
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.
7 s* t9 b! ~' W: K1 M$ k1 jbut the value of their assets did really drop significantly.
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  U' W7 G$ H) K# x4 j4 [* ^[ 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 n+ ]9 m8 v' [3 x# K
Refer to last example,) Z& J, x1 W0 L# L# V+ R
that means bank A have no money because we borrow 10 dollars from bank A 7 L* _! f7 ~5 b5 Q
Because bank A doesnt have enough cash on hand 1 v. {6 u9 ^; Y2 ?' K
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* E- A3 }8 Z1 L8 S( Y. sA->B->C->D->E
0 e5 q6 W9 g# c% g% W- ~$ yso does it mean if E failed to pay D,
) h1 D2 o. j- z( V& b, B& z  A" gall the B,C,D,E have to go bankrupt?& r, n  y; N$ @9 H7 {% X* C' O
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the multiplier just tell how much money created in a whole economy,
3 j1 V* w' B6 L' D) E( o* v, \+ Sin this case it doesnt really matter how much money is created, 7 t$ K" \. _* i
it's the problem of the debt itself.
$ Y7 _: t7 t7 z$ d/ A$ ythe 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
: N5 q/ @  W, y$ D( n& d0 s3 \小弟一直都唔明...
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- s* u/ {: A5 V7 G  g全世界都蝕錢，咁邊個賺緊錢呢?, C& Q3 I& D' h" ^

- g0 w' J, b* F, z% T; L2 {; T無可能淨係有人蝕錢無人賺架嘛...
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; A6 ^- z" l; u  v; W( q敬請各師兄解答
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, ]2 e. k: `+ j" l7 cThanks

8 k) e  Z. S. C& e/ D8 f那些根本係 紙上財富  . a8 N! y' ]% r6 }5 `- R8 _
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" ?( X3 e; n# f+ H0 ?* H6 R/ h9 l
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ G) L$ Y) R7 n; t. I0 S* t
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9 c6 {% S! L$ M/ @" \. ]
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦8 H5 l: `2 E# @
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: \$ m' w2 v' }) S) B
計番回報率就已經係50%,所以可以好好賺
* ]6 X* D3 R4 ?  j# j前提係銀行之間要互相信任先可以咁樣借法
) [* H, R7 W: \  _6 M% G同埋個市場既前境要係好先得
& j" {. [, I2 D但當經濟一差,公司估值趺了,物價不升反趺1 Z, @7 K& O! u- v  O' t
例如剛才說10蚊的, 趺到得番9蚊,
, S1 {5 v. B' T) \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ {9 c$ x1 D5 R' A5 K8 z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,   s) ~$ f1 t$ N, d' M2 S
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,   F9 D, K7 n* E$ T' w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 }. M1 y6 o. Y  X. D" n+ }( H) k) M% c
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
% @3 Q5 y* x! }9 j: A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
  b+ P+ y: v+ n: I. d唔係d錢蒸發, 而係比美國佬洗晒未來錢,
5 ?- S% W! x+ l" S8 y3 j& b( a1 T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 s; q5 j$ r; |
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; s0 y, V. X% d* p2 n+ l
咁你話d錢蒸發左去邊? ...

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$ }- D1 r: h6 ?. x# u正係咁樣
9 `9 }$ q2 L! {7 a- m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5 U/ z  s% G0 c" Q& O' i3 L
分分鐘佢地唔使還錢4 w) U& n8 ]/ ~+ b$ L5 e

/ S, b5 @2 i. V) a5 f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,
- z& G' }- v. r連國家都係問人借, 不停發債券, 印鈔票4 t; z2 y% X5 x  U, X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 D& A+ u4 v0 C! q$ X4 S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- q6 ?3 R& ^0 ^2 Q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! N. g: d  T  Q0 L+ n. A# p
因為以前未生產, 先消費
4 m5 s$ X& @, k' B而家就要多生產, 少消費