0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 p$ @/ u" T2 l! F0 |* c, ^Why bank will sell 借據給第三者???
6 m- d! u0 p" J; h2 K: SI was so confused.....

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講到尾都係賺錢
# h0 c9 x& G1 A2 y4 @1 eso銀行可以不斷放款/ g0 @! x# j6 V: I$ T- P9 g
美國的房貸問題散佈到全世界
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, d$ \1 R5 i; @4 qmortgage loan
* b6 [$ l9 ?9 L, v$ w>conduit
9 I2 G# @4 M# Q) U0 s7 a>RMBS(Residential Mortgage Backed Securities)( z9 \+ l( n7 Q9 ?: Z* f2 u0 Z
>arranger4 M) j9 O0 L+ k3 V
>CDO(Collateralized Debt Obligation)# V1 B$ b5 h" N/ t4 I* f. o
最後去到投資者

Kev

i thought it is the reason of rate of return.) I9 B, g  I, L
CDs could have different ratings, AAA -> F,
) @# ^1 I. c% }8 L  t7 H+ Amore risky ones would have higher premium (interest rate) as a compensation for an investment.5 H; m: Q+ I, U, |
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ y% `& R% p  {; h; _9 Q1 G0 e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ y7 D: a% }; r9 c
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. S0 `- k4 f% b1 ^3 lsimilar to bonds, CDs trading in the secondary market have different value at different times,
. e3 h1 H6 S' _+ dnormally the value is calculated by adding it's principle and interest. . K- K- ^9 Z4 f; D4 Q
eg. the value of the mortgage+the interests to be recieved in the future.
/ R7 e0 h0 ?7 c% dbanks 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.  c& {2 i0 _  i* q3 C/ O

5 u, p. G% Q: [6 j2 l" Z. B7 L+ C0 Iim not quite sure if the multiplier effect does really matter in this case.; n" w" U, _' g( M
in stock market, it's the demand and supply pushing the price up/downwards.# F, x. h" K; s" f( m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 T3 o, W5 {4 B2 ~2 K2 pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 g8 \; p- r+ g# g
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. 1 g8 c5 j* q! I1 A( U7 ?4 m
but the value of their assets did really drop significantly.  G- m. a, O% S3 U

7 r, A: Q0 |9 t: G  F  z[ 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.gif4 S- _  G9 E4 j/ n0 }! p9 t) m
Refer to last example,. l7 R. u4 R/ E4 j- |) {
that means bank A have no money because we borrow 10 dollars from bank A / b7 @; E, F: k  T3 S
Because bank A doesnt have enough cash on hand 8 F6 V, V! p/ J: X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ B; B& \; s9 a- L: [: R) l1 w$ ]A->B->C->D->E
; p# ?# U6 p, ?4 Qso does it mean if E failed to pay D, 3 z0 @  [: S! \9 w4 x
all 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, 8 Z& V4 s  S/ j) l$ A  A' a
in this case it doesnt really matter how much money is created,
' E7 F, _/ ?6 G( D2 Y9 ?it's the problem of the debt itself.
4 T, M* b- R) Z: d. E  rthe 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( x, A6 t  e, Z- A7 p
小弟一直都唔明...
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- K; h' {1 _6 n. `全世界都蝕錢，咁邊個賺緊錢呢?5 ~5 O8 j0 v1 C  U& h3 N
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無可能淨係有人蝕錢無人賺架嘛...6 P! i: u" @; i9 E  g
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敬請各師兄解答# A8 c8 u* n# D4 j
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Thanks

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那些根本係 紙上財富    s! }& x, l  f0 U, a; c- b+ T
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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( @' v5 ?3 F' w* Y* t  a8 A) h6 Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
1 K2 U; D$ n5 o. ]( r/ E當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 T/ i4 b+ \5 \! N1 w5 d6 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
$ \" V: Y) e+ d! |  ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ E5 K  q7 F/ W0 A) k+ q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) ]7 \0 M* w% F( J: c1 g
計番回報率就已經係50%,所以可以好好賺
- }/ u9 J* c2 G, L4 [" _) C+ e前提係銀行之間要互相信任先可以咁樣借法' Y8 I" d; l3 ?' N& h0 T
同埋個市場既前境要係好先得
6 M. `. W( y- m) z# r但當經濟一差,公司估值趺了,物價不升反趺
- c- c) \. o2 D7 K; b' a例如剛才說10蚊的, 趺到得番9蚊,
. ?2 x( b/ K5 w/ C8 n: U& J咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ L) q6 J2 b8 ~" b/ V所以你就會覺得D錢好似蒸發哂咁/ w- A. g. {6 ^/ a8 ?3 F4 c5 Z2 _
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你都可以當標野咁諗, 個樣野多人可以狂升值,
1 f- K/ y( L% Q3 ?: M  n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, % c% b* m8 g1 I7 @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 l, ]' Y. f: O7 L- V& 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
. U) J1 b$ w; s# H4 x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.gif3 r- ?( Q( }8 r# e- }! C
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 O% [. L. {$ F4 b" B3 |) z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 f7 R) h% l0 B$ M9 i* v7 ]
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
4 B$ a) b7 \6 O' W; y咁你話d錢蒸發左去邊? ...

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+ L* P" e# @- b% A- [6 A9 n正係咁樣  _# o1 x) [" k+ _8 i
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9 J" ^; t: S# ~' F, t$ o" w
分分鐘佢地唔使還錢
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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,
0 c: I/ ~7 ~: Y0 j$ R連國家都係問人借, 不停發債券, 印鈔票; i2 @% ~7 h1 a8 Y9 Z& j
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% r4 x6 ]. ^, i. I8 [
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) S& @* W% ]% M2 E: R9 _- L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 F: J2 M2 Y. h# _( d其實係...
* I% L2 c9 c& f( j  `- I因為以前未生產, 先消費! t% X& W7 O, r+ c% K+ _
而家就要多生產, 少消費