0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, r4 A) y" g7 P9 x2 e% z* T# bWhy bank will sell 借據給第三者???  F. X" z5 w5 r/ D
I was so confused.....

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3 ^' u0 ?5 P4 b5 }" A講到尾都係賺錢
  f: J9 ^8 w4 ~so銀行可以不斷放款4 C4 `( I6 F) @4 P  m
美國的房貸問題散佈到全世界; \, x! }; u6 i: J- a* y& ]

, o: I, F9 g3 J# c: R+ T! r+ [mortgage loan
7 M$ W4 Z, e  r- Z1 \5 y>conduit
/ {- v8 E# |1 f# \( g# f( n1 _>RMBS(Residential Mortgage Backed Securities)
/ X4 L: e% m- _>arranger
8 m" O* x% c7 L>CDO(Collateralized Debt Obligation)7 L2 W$ R- O7 b% ?- x
最後去到投資者

Kev

i thought it is the reason of rate of return.
, e& Z- O/ h+ i# g5 U  u( C. WCDs could have different ratings, AAA -> F,
6 _3 `3 [; t% Omore risky ones would have higher premium (interest rate) as a compensation for an investment.
7 P7 c: j9 L3 L! Q# }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# D+ ~6 R, S& i( D6 W1 tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# m. `1 h' [5 ^& X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 @$ d% g2 O* a3 u2 O4 esimilar to bonds, CDs trading in the secondary market have different value at different times,3 p1 Z7 \$ k$ Y! @1 {" U7 C; ^5 F& U
normally the value is calculated by adding it's principle and interest. / t. U% [) b$ F* B4 g2 H; _3 q+ G
eg. the value of the mortgage+the interests to be recieved in the future.
1 S8 i4 y! w% z% m+ ^; K. `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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/ \% z  p) |+ nim not quite sure if the multiplier effect does really matter in this case.
/ {6 q6 V7 D: N$ y6 A/ l# ~( Fin stock market, it's the demand and supply pushing the price up/downwards.
' m$ p8 H5 o2 Y5 F& `5 C8 pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 C# D" T1 w5 ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( s, z1 X  ]$ r' CThe 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. # {& O7 b! V$ a; n2 K
but the value of their assets did really drop significantly.
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2 E) ~; w: W8 X6 d8 B$ N7 l/ k[ 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
0 G* B4 I0 Z8 q2 c, i" a- O1 BRefer to last example,9 c, S0 s3 D& H( H6 M
that means bank A have no money because we borrow 10 dollars from bank A 3 \) z5 Y7 }& d; k8 O
Because bank A doesnt have enough cash on hand
' {% ]0 h. K" W2 T3 Ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 U% j2 l0 M6 [  @8 SA->B->C->D->E
, f" Z8 N, p5 `. J  g* N4 p0 l! L8 Pso does it mean if E failed to pay D,
( j% A+ `$ B) Xall the B,C,D,E have to go bankrupt?, u6 d) l# Q, J) h; h) y

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, Z$ i) g! _5 P+ N& Wthe multiplier just tell how much money created in a whole economy,
  ]" r' y6 f  ^9 {, @in this case it doesnt really matter how much money is created, * c- R8 u/ f6 ]7 K. z& R" ]1 F1 I
it's the problem of the debt itself.. v; q1 H. ]5 N9 A8 |5 p
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% q8 n) ]3 R5 n5 ?$ m- _9 G: y
小弟一直都唔明...5 c1 D! Q0 Q/ q: b9 Q. g

# F% f+ ^0 s1 r8 M" D全世界都蝕錢，咁邊個賺緊錢呢?
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! R$ B5 P3 o* s9 ?無可能淨係有人蝕錢無人賺架嘛...! j3 O# U- H  b/ e# l$ y
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敬請各師兄解答5 ?$ e( Z) L7 ?& E
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Thanks

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那些根本係 紙上財富  5 K, l( N/ ~/ x0 H) L7 x: t' U
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 graphic5 w. L% e- P; d* i4 ?

% S7 _* w8 i( M8 W' thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
  ^* g* H  b: O- g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 [, D. k, O3 [+ H" l) u
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
0 z  U( J/ t" D個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: d  j: l% d6 Y# v$ ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 \! V3 m- T: a# r% `計番回報率就已經係50%,所以可以好好賺
" a2 n" `' V% D' m; Y* g0 ?前提係銀行之間要互相信任先可以咁樣借法
( B$ \5 l+ N# t- M3 N. K同埋個市場既前境要係好先得
( Y& {3 c$ }, X+ g) [$ o; k* p但當經濟一差,公司估值趺了,物價不升反趺6 a1 X$ }' Z* N6 `/ R: x
例如剛才說10蚊的, 趺到得番9蚊,
* z5 u- j/ Y" P咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 n! I0 ?7 x+ o  l8 [+ ?! j
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,
* m) b! p/ u8 f/ h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, + N5 T. x1 c% `2 Q, T: W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * D% j) q6 ~9 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( s: g6 m4 t7 l
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! n7 z. C! o+ L, T" ~. |唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) r6 n1 {! D1 C- W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 S- y* _2 _$ g/ s
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) R* |1 ?5 A6 c2 o  T6 D
咁你話d錢蒸發左去邊? ...

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" m, O1 N: g1 |' c" ?正係咁樣, a6 ?2 R8 J! d) v) z" Y" N
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
# |6 W5 n# [+ z/ }2 ]- Q# X- V) i! P& O分分鐘佢地唔使還錢0 a' X1 s- O! b1 J7 [6 M* |
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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,
# l. N& l4 M3 C& x連國家都係問人借, 不停發債券, 印鈔票* m. L" x3 x5 U" s2 B. J+ e) H- Y7 i
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( V" F# |9 ^6 V$ ~2 R" e. A! z
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
& G( T1 M  }, Y# D( V咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 w9 _2 c2 D; D, q' r其實係...0 ]% C& @" \2 z; z" p* [9 n/ L9 {
因為以前未生產, 先消費1 F4 O+ V# ?5 P; K) i% Y
而家就要多生產, 少消費