0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 ?7 t/ Z% C. c* s/ T- t7 E" RWhy bank will sell 借據給第三者???
, I+ h: E! J8 v, ^9 sI was so confused.....

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講到尾都係賺錢
  [4 W$ `0 o) P3 R6 o* iso銀行可以不斷放款
/ X4 s7 j9 o& H2 A美國的房貸問題散佈到全世界
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2 k+ \- [3 f) T5 ^9 B0 b# y  smortgage loan + {/ Z+ Y* U, \) X+ ~
>conduit
$ e9 L# a" W  z>RMBS(Residential Mortgage Backed Securities)1 {( G% R6 d* Q9 h8 o; u2 K
>arranger0 B5 Q9 }+ a9 O) p8 p" T, n4 y3 V
>CDO(Collateralized Debt Obligation)2 x- G$ i5 i8 `, x7 S, j; l
最後去到投資者

Kev

i thought it is the reason of rate of return.( ^2 q! r4 ]. J( K
CDs could have different ratings, AAA -> F,
+ R% U1 s& W0 V! Omore risky ones would have higher premium (interest rate) as a compensation for an investment.9 a% o& k. I7 \9 ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; m: I+ Z" i- ^3 yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# M3 Z2 J0 \! M2 H$ K, Y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" b' j4 ?. o% }& \+ U, A- zsimilar to bonds, CDs trading in the secondary market have different value at different times,
# S( `2 Y$ R- P  s) `/ knormally the value is calculated by adding it's principle and interest.
; H7 D! b% w) X# Y' d' M$ c& s! L2 Seg. the value of the mortgage+the interests to be recieved in the future. * m3 T5 y" X$ a- P  T3 i0 s, _* B
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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+ ]2 f; S5 j6 t3 w. bim not quite sure if the multiplier effect does really matter in this case.! N# I0 q- D6 i' x/ f9 J
in stock market, it's the demand and supply pushing the price up/downwards.+ B5 A  _/ C  l: ~) A5 I
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ k" k' Y  m! E
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% f1 L( v1 b& i7 b1 jThe 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.
# B) [: l9 O  y7 |& S) tbut the value of their assets did really drop significantly.
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$ D# w5 R! C8 _3 K7 Y* f[ 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% o# s" S: P* B
Refer to last example,
6 V5 D* T: E) c" Qthat means bank A have no money because we borrow 10 dollars from bank A 1 V. Q$ X$ d4 y1 }
Because bank A doesnt have enough cash on hand 0 w1 u$ G- _) [0 P1 X; ~
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 G. a0 {9 A! |6 K$ x6 `so does it mean if E failed to pay D, . k5 Y# B3 t/ n5 ]$ p( G
all the B,C,D,E have to go bankrupt?: ]* H2 X$ a- q6 ?) f
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the multiplier just tell how much money created in a whole economy, ) ~) h0 c( q$ \: w; N" H
in this case it doesnt really matter how much money is created,
1 X( v) D& I# x  }" ?0 P+ \, \7 Bit's the problem of the debt itself., r* d' }, A' e3 x) s
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
& {- U0 S. _! P& t小弟一直都唔明...; K+ \% [- V! ], Y3 v5 C
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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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敬請各師兄解答
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- [0 y" }7 e% I; k+ F3 d0 G3 T( }Thanks

% W0 U! _- ]& y4 s- G+ M5 P; \那些根本係 紙上財富  2 R! A( N/ r6 o/ K$ M
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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1 Y0 |9 W9 j+ s' w- Jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ t4 u! k* P2 ~* q8 q3 c/ w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; n5 u; E2 S8 V9 k0 P1 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5 h7 {0 A' `! g1 [# T/ ^( f
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' d8 m5 l1 l" _9 F" b
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 T* ]6 a' b  N9 k6 Y4 a5 Y計番回報率就已經係50%,所以可以好好賺
2 d1 q$ n' q8 `1 W) k前提係銀行之間要互相信任先可以咁樣借法7 V1 E6 d+ F- p! B, B/ B
同埋個市場既前境要係好先得
" }0 G2 z+ U2 W+ R但當經濟一差,公司估值趺了,物價不升反趺
. H! V4 p9 C+ o, K6 ?- K* r/ g例如剛才說10蚊的, 趺到得番9蚊,
' \6 x0 O6 |3 Z8 [* P9 ]咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 p/ j# V' U' n- [5 f
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, : Y1 |- G0 h- f( e, J
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, 8 X  s& C2 w# @1 Q0 ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; i/ W3 k8 S7 ~' h* w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
1 X$ }5 @/ ]5 N9 C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
% _, i" X% H" x% D! }; U6 f% q唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! Z7 Q5 h1 M' x* Z* _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 i% h; h# u$ d# J7 R, o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
: b& y% x- }1 V9 `' u1 Y) ?+ K咁你話d錢蒸發左去邊? ...

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! J# [: ^3 i+ j" v" G# @: o5 X  H正係咁樣
  e  ]' H' s% {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
/ q. C' T: d1 C5 _/ j+ v  _2 ?2 n  Q6 P分分鐘佢地唔使還錢9 @9 z1 E( J. y: X5 k, @

2 h0 i. X1 d9 F' L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,
3 H" r6 U! Q, p* n$ O連國家都係問人借, 不停發債券, 印鈔票* j" ~7 D, L6 f) i9 M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 u  f, y0 Y% l: q7 _* a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
0 j# R/ ]6 D6 P+ M4 m8 y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
' c$ C" a* r  I. I- i- A% s5 m因為以前未生產, 先消費, J6 c% K0 O( Y/ x3 q
而家就要多生產, 少消費