0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 E  z* |0 W) w
Why bank will sell 借據給第三者???
) _' T7 K& n3 OI was so confused.....

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講到尾都係賺錢# i# y2 _+ a: e: B1 B
so銀行可以不斷放款& s6 W5 N5 g1 ?- R- ]
美國的房貸問題散佈到全世界+ f3 b" V! C7 p; l' W- Y
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mortgage loan & C6 x) f7 ^: @, l/ K% r, M
>conduit
2 X) `, n! W4 u, _>RMBS(Residential Mortgage Backed Securities)
. z- K; A5 X8 Q- K+ N' n>arranger
7 Q# f! u' R: L9 U1 @>CDO(Collateralized Debt Obligation)
# U% O* N9 V0 K* N: M( A最後去到投資者

Kev

i thought it is the reason of rate of return.
# V. ^* P& T: e( d6 c0 rCDs could have different ratings, AAA -> F,
1 Q! K- J& U9 S$ pmore risky ones would have higher premium (interest rate) as a compensation for an investment.
1 r+ ~% Q9 s, z6 F# y$ r+ ^' ^2 _main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 c. D/ U4 {, fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 ]5 a2 Z' g7 I' h8 {; s# O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) R. ^! E+ P/ J7 \. xsimilar to bonds, CDs trading in the secondary market have different value at different times,
. D$ N7 R# u1 anormally the value is calculated by adding it's principle and interest.
4 I* J( s" k" W2 reg. the value of the mortgage+the interests to be recieved in the future. # `* ^5 R7 z3 l% H, T
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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im not quite sure if the multiplier effect does really matter in this case.
6 V1 R, }1 o2 Q. Q# p0 win stock market, it's the demand and supply pushing the price up/downwards.& Q! M+ |' [2 i2 J4 {. K
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 u, O9 P; }% f
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  u" [6 j) H6 p' O: x" {; q
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. + X& }7 J7 f8 P- H! |( y1 t" R
but the value of their assets did really drop significantly.
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; {1 w2 J( w8 u, F. x, {[ 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; d" F% @5 o! O6 k5 r3 n: R' o  V
Refer to last example,
' f' N8 \. R  Q4 x: \' Wthat means bank A have no money because we borrow 10 dollars from bank A
! y7 C- h0 N3 M  @# yBecause bank A doesnt have enough cash on hand
$ V" ^2 e& e" U' ^5 R$ T+ v- wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: B5 \0 \' k& R0 G8 Oso does it mean if E failed to pay D,
& X8 g  F; d) v. l! r- S6 fall the B,C,D,E have to go bankrupt?" n, D% n( J6 U2 L" c

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the multiplier just tell how much money created in a whole economy, " |( j) n0 y& O* k6 V' S  V
in this case it doesnt really matter how much money is created, # K  A6 O) M9 L$ [& l
it's the problem of the debt itself.
0 G& g$ K- x; `! I0 t7 L3 i5 [6 dthe 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
! J' w# \9 V* H( V6 u  Q4 p7 t# ^小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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# Q6 V0 M0 F8 U9 G# A/ K無可能淨係有人蝕錢無人賺架嘛...  d; v! W* {+ V5 D( ^5 i
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敬請各師兄解答" q' f& q) Q6 ?9 v+ p+ L! j3 L: b
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Thanks

" c! N: \! }' ]. m5 a" U9 @那些根本係 紙上財富  & R6 E% R7 s, k+ g, u2 L/ b% _* L: ^  Q
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% x! N! G* z) l  S  E; U2 A8 ^2 {
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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7 u7 K" L" h2 H. d% D
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% W6 R5 c$ j* p# u' S+ d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 W' \6 S) Z( T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; \: c1 w% E4 F' k  r+ i2 c
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 s8 L7 m$ G: Z) o
計番回報率就已經係50%,所以可以好好賺
+ n! \& G" B+ J) H前提係銀行之間要互相信任先可以咁樣借法  [& j$ o( o- x4 e4 H9 s' _- ~
同埋個市場既前境要係好先得! n- W$ p5 t, s2 R+ y
但當經濟一差,公司估值趺了,物價不升反趺" X/ @" h0 c8 j
例如剛才說10蚊的, 趺到得番9蚊,
- c. X0 b3 B: X9 d$ a; Y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* p" v! n4 c" Y8 q& s# ~  }4 m& y3 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, & v. L% _) H+ L1 f) F
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,
' b  h. W1 F: }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- c3 y' C/ A! t; K: s5 ~& u4 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; r% n+ J2 t2 W& e: Y9 j, ^5 y9 g
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
( p: G6 f( P' ~# o! h% ~唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( k  `) p3 x  }% R: K7 p. T3 W: P淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* a$ q: X6 O) |$ Q+ a. ]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
  n+ r1 T, Q' r3 c咁你話d錢蒸發左去邊? ...

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* t8 Y; L. v( ~8 v: L; \' J正係咁樣; e% O( D. R  ~$ @' R
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) b" p+ o& b" ~/ ^" t  g
分分鐘佢地唔使還錢$ F7 j4 M' F3 C7 y3 O

; d3 |( F8 V, @$ 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,
; f6 e* X) t. M% j- Y連國家都係問人借, 不停發債券, 印鈔票* ~" L, J* q0 x) }" K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ A5 L5 L1 K- S. K8 M2 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" ?  b' o" ~! |# t
咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 o! e3 B) c& Z/ ~9 o# o其實係...
' q0 @+ y4 ?# b因為以前未生產, 先消費$ `, a! R8 [. O4 l# O
而家就要多生產, 少消費