0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, c4 _- {; G( e. z" DWhy bank will sell 借據給第三者???# V! A3 E7 F' ?2 a
I was so confused.....

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2 V$ q. ^; v$ H& v6 n4 U講到尾都係賺錢
& _, r8 p: t6 i, O5 U* J' d1 iso銀行可以不斷放款
- O# P8 M) j- o# ?; y美國的房貸問題散佈到全世界/ |9 y% U8 ^8 j: x: l7 z! y

' ]0 b6 x9 @3 {) }3 ymortgage loan
, j2 h& W9 _; V; k7 N0 N>conduit; s+ ?9 m# c. s
>RMBS(Residential Mortgage Backed Securities). F) Q3 b4 G8 c& {4 v
>arranger
% N' Q- C" A; B>CDO(Collateralized Debt Obligation)- w. r8 C7 q+ [8 r; D
最後去到投資者

Kev

i thought it is the reason of rate of return.5 H& p3 _* v" F: L! V, ~
CDs could have different ratings, AAA -> F,
5 e% b- I+ m& V% P3 \+ t/ {! _  }. X5 umore risky ones would have higher premium (interest rate) as a compensation for an investment.& s$ O! G8 a' L; T7 J6 \6 e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 z& M  B. G3 C1 g2 J- Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; k4 _  e- t  h- n3 o7 K* R% {1 V
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  ]& w7 \5 h) c4 n9 }similar to bonds, CDs trading in the secondary market have different value at different times,
9 L( `7 M: s% d  P3 G1 g! p: P' _normally the value is calculated by adding it's principle and interest.
% `: A& r! K$ U" a- T; E# ^eg. the value of the mortgage+the interests to be recieved in the future.
+ z6 i9 u. k9 H1 L* Gbanks 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.. i5 F# p8 A' [4 X! q
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im not quite sure if the multiplier effect does really matter in this case.
. d. {8 {1 o3 k5 j; `in stock market, it's the demand and supply pushing the price up/downwards.5 l/ B8 h7 z3 N) Y! W- R
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ T6 Q& X2 [) b7 B1 j( w, z& R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ t& b5 g- e1 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. ) |: A6 V6 b3 f/ }- [! i
but the value of their assets did really drop significantly.0 q' P$ ~; ?1 v4 Q, _0 p0 x
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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
2 m! M, o# v! O& ]/ o* tRefer to last example,% g4 i" W' k4 D# n' F( G1 P
that means bank A have no money because we borrow 10 dollars from bank A - }' ~( `& p0 G3 p  L8 J
Because bank A doesnt have enough cash on hand
: y$ O4 R, z! D+ jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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! m: v7 ~. ]; y' f0 B2 n0 qA->B->C->D->E
3 @% }% V: T7 e/ g+ K: r+ Lso does it mean if E failed to pay D, ! S6 A" ^5 ]# F) B7 [
all the B,C,D,E have to go bankrupt?
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! t6 {6 Y2 X5 Xthe multiplier just tell how much money created in a whole economy,
( a; T2 P: N) I6 nin this case it doesnt really matter how much money is created, & b) F/ K2 a  }* [$ x- F3 ]
it's the problem of the debt itself.
* }7 E# j" |( H8 X" ethe 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
0 }: q! P+ D3 ]9 [: g小弟一直都唔明...
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- A2 o: V5 _6 e) L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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5 G6 B' F# p7 }/ \" [# e, |敬請各師兄解答2 N, \) s# d- G- J* [& ?; G9 w

( s/ ?$ p) e2 ^" GThanks

4 B$ H% m0 R" ~' X: T" m, g
那些根本係 紙上財富  
( g! Q1 k" [9 @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& S% ?1 ^! d. Z
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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; O) R# a5 J5 |
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 C* |" d1 g$ A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
$ ^4 C  A# k8 }: Q/ O0 G! Z0 m個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ x! I& u8 H# i# N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) x8 h* f% \! v( B' N
計番回報率就已經係50%,所以可以好好賺4 U1 J- X3 P4 u3 {; v" E0 }2 c
前提係銀行之間要互相信任先可以咁樣借法" \9 M) e" g5 f$ i6 Y0 P
同埋個市場既前境要係好先得
! h8 c; I* k% S8 E, B  F但當經濟一差,公司估值趺了,物價不升反趺- m) K2 A+ G. ]. y1 a, U
例如剛才說10蚊的, 趺到得番9蚊,
* l# ?  C4 y6 f0 |& s' g% e6 X# M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 h: P. R9 t8 d* [. m6 K4 O/ ^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,
& y) L- @; N8 x3 X. p  Y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 i( R( E. g; E" `0 U3 P淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 M4 \; M& b0 {! t( t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  p6 D0 \/ u1 `0 x3 M3 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+ M" K8 n6 a1 y; f, N
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: ]5 P8 S- a4 O8 g5 ^+ k  C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' ^6 Z# [! p+ ]' 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# g5 D2 u& P1 J; x
咁你話d錢蒸發左去邊? ...

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+ |* {& W, Z/ T/ b正係咁樣
( H" y0 h; Z" o" m9 G2 b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$ q5 I, {  A& j! }
分分鐘佢地唔使還錢' g! t& W- Y) f; m. ~; v5 `& g

; U) u1 N9 n& P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 y) W& @: g3 n1 r0 ?9 B連國家都係問人借, 不停發債券, 印鈔票
# m7 ^, K" i$ `- F3 N一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ e, T. ^' M5 P' k$ ^
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
3 N: y" v' Z( @6 U1 s  I* y咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ }" x% B/ J/ _5 {8 d6 U其實係...5 T* Y( X9 W. B. h+ m+ m
因為以前未生產, 先消費
4 B* N0 l6 c1 v* y" ?5 m而家就要多生產, 少消費