0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. ]" t* v) U+ [+ R' P/ q& s1 |* ]; tWhy bank will sell 借據給第三者???
, w- E8 P% x" w. P8 bI was so confused.....

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講到尾都係賺錢6 c$ H3 X6 X9 i- g, O
so銀行可以不斷放款
2 y# F+ O! K3 X8 {美國的房貸問題散佈到全世界
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+ y  i/ u/ S* D% ]9 Emortgage loan ; V- G- `9 Y( `7 @1 Q
>conduit+ r& ]% o, v* K' u
>RMBS(Residential Mortgage Backed Securities)1 e$ p8 I; s+ ~
>arranger" ?- b# W7 F/ G0 T8 Z3 L( p5 y
>CDO(Collateralized Debt Obligation)
, C9 s; n+ ~8 `! v最後去到投資者

Kev

i thought it is the reason of rate of return.# ]' j: _9 W1 ]7 G
CDs could have different ratings, AAA -> F,* Q+ |8 a+ k$ a! v% {
more risky ones would have higher premium (interest rate) as a compensation for an investment.
) w) h5 I/ }; c4 ~) v! R. J4 x* A5 P/ {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 H  Y3 e" P& l! |# ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ ?& @' R: `' V* S( T* Y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. K2 g  w1 [+ U. ^
similar to bonds, CDs trading in the secondary market have different value at different times,- ^5 }4 J! I6 I5 N2 @/ D* }
normally the value is calculated by adding it's principle and interest. 8 d' ~: M: e6 ?, b$ H- y: L
eg. the value of the mortgage+the interests to be recieved in the future.
" q5 x% m7 U) }) x* n1 ibanks 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 V  M( s/ @, C! b( V2 }

% J  u9 t3 U' q' K# Lim not quite sure if the multiplier effect does really matter in this case.: Q6 A: x+ K% A
in stock market, it's the demand and supply pushing the price up/downwards.* @7 e" j) g, d( \/ D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 V) m8 @1 a  ^* J" GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 s! C6 l/ d. f3 ]% G* MThe 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. 4 Z$ [) S* v8 I( g7 I
but 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.gif
, E; M9 I9 m3 o' y' K( mRefer to last example,# B1 G2 t6 i. i" c8 V
that means bank A have no money because we borrow 10 dollars from bank A
/ W- c' a& g2 r" b- h( xBecause bank A doesnt have enough cash on hand
3 }7 Z% I2 l: b- _8 m  Dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ @6 S4 n4 K. m. ]: VA->B->C->D->E
, J/ p- \, @6 R$ pso does it mean if E failed to pay D,
- B  i" y  p- b! ~  f+ Kall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
$ M5 R: U* C7 m& ^% Ain this case it doesnt really matter how much money is created,
/ I/ Q6 x2 n! Ait's the problem of the debt itself.
& y7 C( ~# g( Y5 \- cthe 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' L1 F6 B) O5 Q' Q" x
小弟一直都唔明..." a! I) d% f9 K5 R; I4 v8 o

5 ]6 f: v# V/ `# S5 p4 R全世界都蝕錢，咁邊個賺緊錢呢?& \" B9 Q7 k# j! g8 [
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無可能淨係有人蝕錢無人賺架嘛..." Y0 y5 K; S# L: q

( M/ M1 {- P( c, k5 r) {& @敬請各師兄解答8 l8 N" x* Q* r- n

" E3 Z0 d- d3 B* A( y) n& r9 K0 m( N. ^Thanks

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那些根本係 紙上財富  : B  Y8 _' r; h: K" 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 graphic
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! h! U$ W( q  G- P9 Nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產( I+ e. B. |2 b' a7 [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% Q, K! l0 E+ Y- E
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; S" Y1 o# \, i( t3 s% P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 V$ Q  ]4 o4 z9 ]9 G- a
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' k/ r' v/ ^) Y$ X7 V; R
計番回報率就已經係50%,所以可以好好賺
% W( L; R4 n+ N# ]4 U前提係銀行之間要互相信任先可以咁樣借法; f& q/ T" t& ^5 O' [3 @" U" f
同埋個市場既前境要係好先得
- }: J7 ?$ M3 [- g% l" q- H但當經濟一差,公司估值趺了,物價不升反趺/ S( j( g) ?! K8 L- \( Y) j
例如剛才說10蚊的, 趺到得番9蚊,
+ n' H2 H( F( u' }8 B! R咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' j4 l4 w% {! z
所以你就會覺得D錢好似蒸發哂咁" s- A5 R5 K' `

1 ]* R4 {0 K( w( W你都可以當標野咁諗, 個樣野多人可以狂升值,
' A7 I* ?1 p: d8 k. p" E& V6 B1 @: `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, * r' H2 \+ r, d; u8 P( q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 P7 {9 Y% P% v: P$ b4 `1 p
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* e) y" i7 e  P5 _- I! O. q6 j- @
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.gif9 o, `: @/ s1 O. e* E. X( L
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # U" S1 t5 ]8 _- f3 X. q/ Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 a/ ~0 j4 x5 l& }" t0 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$ ?, I+ X% S! H3 g2 t
咁你話d錢蒸發左去邊? ...

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, I0 D% A* o$ \6 V# C5 v3 H正係咁樣! m/ C1 Z$ H5 r! A4 S
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
% J4 l3 E/ N, r分分鐘佢地唔使還錢8 \) ?  }8 V4 d  Y8 t

. J( o) t1 b, e/ q* q' K$ u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,9 Y' b" v; K' z0 I0 {
連國家都係問人借, 不停發債券, 印鈔票
3 n8 }' _. |! R# _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" _+ m/ y' s2 ]! U
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
: Q/ s# ~) Q5 Z! {咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...- J1 p' d% N* z' U" y
因為以前未生產, 先消費2 g1 f2 F5 ^6 m$ v
而家就要多生產, 少消費