0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 k- B. U' P2 r9 c0 b
Why bank will sell 借據給第三者???
9 n. g# m+ s6 q3 l- I7 h: PI was so confused.....

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' O3 @- s, P% v- h, r講到尾都係賺錢0 F* }$ y3 w3 l
so銀行可以不斷放款: x! n+ P$ r6 Z5 d0 _" H
美國的房貸問題散佈到全世界
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mortgage loan
: ~+ ?1 k0 b$ w>conduit
+ N, {$ I# c) _" e8 A/ L3 ^7 ]>RMBS(Residential Mortgage Backed Securities)  J: W' X# E5 ^+ [0 N
>arranger
8 G' \: I! P% h7 ~# a$ I) t, s9 b>CDO(Collateralized Debt Obligation)- g! ?7 e' L% J* L1 c
最後去到投資者

Kev

i thought it is the reason of rate of return., \2 p/ U% X* W( ?3 m
CDs could have different ratings, AAA -> F,+ y/ i# }+ |" y9 y5 b4 x
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 r, D+ g' c7 h3 ]1 U1 P7 _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 ?2 H6 r6 _; din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. m* d4 |7 c# _+ u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* V. Z& K" t4 |8 L3 b# ~  U' isimilar to bonds, CDs trading in the secondary market have different value at different times,
! b) }6 c/ I9 T8 a2 A( S4 Znormally the value is calculated by adding it's principle and interest. % P( q+ h, E! s: w- j
eg. the value of the mortgage+the interests to be recieved in the future. 3 H4 _8 D8 P/ X
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.
% h; e+ {! j) ]7 ~) G* F+ i/ `in stock market, it's the demand and supply pushing the price up/downwards.* d4 E1 \$ a4 J5 X. u6 e
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 [4 }4 L; C# c: _A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., O. ~2 ~" f7 u/ F7 T' @
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. ' a, c& T3 \! t. ?8 q& O$ o
but the value of their assets did really drop significantly.
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[ 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% x& l1 M/ G! k7 L2 O) R1 V
Refer to last example,; U8 A6 g+ f1 [9 `; H
that means bank A have no money because we borrow 10 dollars from bank A
) O+ g* p5 D+ B, m7 ^  S: C2 fBecause bank A doesnt have enough cash on hand
  L/ q. w+ ?) a9 @$ `% Atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 j  `7 G/ R8 jA->B->C->D->E2 D: }  P5 K2 t/ R4 a& }1 }" D
so does it mean if E failed to pay D, . b3 B+ a* z' J8 b
all the B,C,D,E have to go bankrupt?
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; s! [7 a# [2 w- Q% B( ~9 fthe multiplier just tell how much money created in a whole economy,
) [, w9 |4 U1 h/ Y" z& Bin this case it doesnt really matter how much money is created,
7 j+ X9 ~0 k# q4 U  w) j+ Dit's the problem of the debt itself.
' a( w# [9 I7 D4 U  C% m# G0 X' 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.gif5 j  \3 B- Q; w0 {
小弟一直都唔明...4 [0 U- c; ~6 Z3 g

8 F' X8 ]9 e; x8 J全世界都蝕錢，咁邊個賺緊錢呢?
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7 x1 m5 K# E- X1 `6 K3 @4 k無可能淨係有人蝕錢無人賺架嘛...
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+ `) Y3 }" S3 `敬請各師兄解答  O+ n! D; t; p9 q$ R
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Thanks

; p, N3 o0 X/ Z/ a那些根本係 紙上財富  
' C/ O  \' i7 x3 L: u! P0 h9 X# D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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( z" d# T. K* chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 ?+ K1 a$ r; I0 i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; H. Q; O1 M* @$ ?7 q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  ^+ B" l) K8 z1 N9 @) v
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ o7 |& b- ]  l扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. O: R. v9 }0 Y# s( i; G! @+ {
計番回報率就已經係50%,所以可以好好賺
( D0 c0 Y; w- V/ C3 {前提係銀行之間要互相信任先可以咁樣借法
; h* J( @' w2 Y' k, X同埋個市場既前境要係好先得
& p' H3 L! c. k& N, H1 x- x但當經濟一差,公司估值趺了,物價不升反趺: P* }; @4 Y& j% |7 c
例如剛才說10蚊的, 趺到得番9蚊, - X# @( x8 Q; F" ~
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 b) n- H* l4 n/ |' V1 C所以你就會覺得D錢好似蒸發哂咁7 b; n& X; l" l. B0 ?1 z

% E+ M" M, d, m' L4 w% D1 o你都可以當標野咁諗, 個樣野多人可以狂升值,
9 F3 \9 z4 c4 C9 D& X6 e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,
# _0 C; r6 U# m  }+ ]" W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  n) C8 N7 Q: \6 }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% e# ]: }. U- S, B  d1 }
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.gif7 W" x$ M7 |7 u0 {: X3 y! o- [
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 J" B) L/ _' v: L, _+ _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' k1 o- O! i0 k. F  ^7 |% f! e
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, X5 g; e/ r1 E4 Q! K, M( B  q
咁你話d錢蒸發左去邊? ...

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, g1 n: a" `% t& W8 R; M# b正係咁樣* n  f; b- [1 l' K# ]
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 Z" y# n; h* J" D4 P分分鐘佢地唔使還錢
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& ?  r% U* l2 d" R- 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,
; R! L" D/ L+ m, U連國家都係問人借, 不停發債券, 印鈔票
- B* n! t; Z8 q" |# j. {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
5 X& J/ C  ~7 K/ I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.gif8 q% V: H  H4 Y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  x$ P& S5 }$ P9 m
因為以前未生產, 先消費
! \* f5 D' x  F% |/ W& M3 B而家就要多生產, 少消費