0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 U$ Z* |7 d- Q# W: A
Why bank will sell 借據給第三者???9 o+ C5 W7 Q6 i7 {; K; I1 B
I was so confused.....

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4 @& p% u. a/ q講到尾都係賺錢
6 j* n0 E  P( u) k3 m6 N# Rso銀行可以不斷放款
, R% x7 q0 I! ]+ ?3 F4 |7 V. B  |% H8 q美國的房貸問題散佈到全世界# p4 y0 N5 s$ x( \4 Z# V* o
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mortgage loan , }# O6 b  ]2 \1 l+ `, [: p
>conduit# p+ R. H7 M! x; [1 j( Z
>RMBS(Residential Mortgage Backed Securities)
- b- h$ v- e" z>arranger
4 Y: B: q3 k- F  S0 _1 _>CDO(Collateralized Debt Obligation)
. Q6 w2 ~  N1 O$ r! o最後去到投資者

Kev

i thought it is the reason of rate of return.$ x  b+ e8 Y: v4 e# s2 j
CDs could have different ratings, AAA -> F,# q3 o! T! h* i- h
more risky ones would have higher premium (interest rate) as a compensation for an investment.- n6 L4 O- Q' M8 N4 I% s5 E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 w8 {; G9 K5 a0 `- R- Z! U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' S+ h- r8 o& o2 H9 A
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 ~, j" Q; J0 F8 Q# O
similar to bonds, CDs trading in the secondary market have different value at different times,
& U0 N7 u) I" T9 r9 W5 S6 xnormally the value is calculated by adding it's principle and interest.
9 t$ b- b8 Y* X$ Jeg. the value of the mortgage+the interests to be recieved in the future. 7 B  B9 H3 D& z& l* A" q2 C2 J
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.! d7 Y; [3 {" e& W3 \3 F& N
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im not quite sure if the multiplier effect does really matter in this case.
: {* v  H3 h5 A+ A2 A% Vin stock market, it's the demand and supply pushing the price up/downwards.
3 {8 u" b2 x4 s* s0 xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( @% n9 v1 g$ |9 }& ]7 z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- \( G% A( k: Y
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. , N0 P% R- q) q9 `% u& F8 g
but the value of their assets did really drop significantly.
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  @) ^* D0 Y3 G) 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
' j. b8 n% h6 x' }7 A& {Refer to last example,
. h% w! \( C, Vthat means bank A have no money because we borrow 10 dollars from bank A ' v8 Z  w( e& e* `
Because bank A doesnt have enough cash on hand
4 W# O# v* R1 h- D( ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
# Y& r3 n& O( Y; Kso does it mean if E failed to pay D, # s$ c6 ?# d3 z  Y, M8 x
all the B,C,D,E have to go bankrupt?# E' ~! M2 Z2 \  z: `+ e# O

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& r& {2 W! N1 k) B3 _* l5 wthe multiplier just tell how much money created in a whole economy, " K' U1 {% T& z. o4 y5 q2 ?
in this case it doesnt really matter how much money is created,
1 U8 J; R" h& r8 sit's the problem of the debt itself.: B/ @6 R- `3 F. {9 N2 F
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.gif1 P, ~) Z$ `/ d% Y& f
小弟一直都唔明..." b- w& ?% O8 m" @8 a

( b3 q! J+ J$ w# W: s0 h全世界都蝕錢，咁邊個賺緊錢呢?" v- A' y0 F) I. ?5 M2 L- M

+ g5 X( w$ [1 f$ U' Z* g無可能淨係有人蝕錢無人賺架嘛...5 c4 v' }5 f7 v) H) [* f
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敬請各師兄解答
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Thanks

+ E# W& G+ [5 N' [$ D* S5 ?5 J+ @那些根本係 紙上財富  
+ C+ n2 D/ S) ]$ l' \6 @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  I3 e9 A. r, D$ F4 p* a3 p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" [$ K& I" G6 u; L: J1 \
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% p. U* `2 d+ o. q' K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 T# m6 `! L8 P2 x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" f. U) c, v2 P計番回報率就已經係50%,所以可以好好賺
6 Q3 X2 e# [% E, c& c前提係銀行之間要互相信任先可以咁樣借法
( J& f1 V# x/ f: U2 ?5 _5 S$ e: K同埋個市場既前境要係好先得. \1 z$ q4 P' ?( s5 F& }9 d
但當經濟一差,公司估值趺了,物價不升反趺8 P, ]; p% b: b5 u
例如剛才說10蚊的, 趺到得番9蚊, 9 x4 h2 T4 Y6 @$ Q0 h+ x
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ C3 `* A: l! g4 D3 J
所以你就會覺得D錢好似蒸發哂咁9 K2 t3 i" A$ I1 a% a
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你都可以當標野咁諗, 個樣野多人可以狂升值,
$ K5 L/ W6 T, x' _1 X! u* _: o+ b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,
7 X6 i6 P" H( T2 `3 O' d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + ^" e. `7 P* a- Q
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
/ ~# P$ V& a+ s) h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
8 N/ H2 m/ h" c/ ]9 Q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 X3 |1 ~- R  S; {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- m/ s9 g6 A' B3 ?5 L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
/ i3 U" ^5 X# p: `咁你話d錢蒸發左去邊? ...

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正係咁樣  K, b3 t0 ]. }" 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
4 M$ g4 Q% j. K8 |0 ?分分鐘佢地唔使還錢  E% D! I2 Z% b" i; G

. Q8 j# Q% N" a1 O* J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,# b2 \) g2 f& P2 I2 f7 a3 q; P
連國家都係問人借, 不停發債券, 印鈔票
6 z2 g- a4 h1 p7 W; `% o! V一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 f5 ^, A( U* 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. X. j  D% u9 G1 p& X
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
: Z) m; r9 B6 @* _; f+ T/ U2 B因為以前未生產, 先消費8 p  z. ?3 v# n) o; O5 U7 \* N
而家就要多生產, 少消費