0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" C+ e9 u# T2 s; U" lWhy bank will sell 借據給第三者???
5 \+ A3 _9 N, w/ y* [8 x2 [3 y  A- }I was so confused.....

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講到尾都係賺錢
  n; j4 A" B7 r. }, x8 K  Pso銀行可以不斷放款! S8 N4 t8 Y+ ~: ]
美國的房貸問題散佈到全世界3 D+ }6 @  G- E

9 [* D9 i# ]2 v- ?! d; u0 _9 Tmortgage loan 1 [7 n4 t& z$ ?  k
>conduit% g) q# c0 g# j( j
>RMBS(Residential Mortgage Backed Securities)' T* r# m) M* g  I
>arranger
/ T; K, R2 c. t2 ]# L>CDO(Collateralized Debt Obligation)5 X4 ]" d# h! {. E/ h0 T0 \
最後去到投資者

Kev

i thought it is the reason of rate of return.
, `6 Q- s% D9 }0 J; SCDs could have different ratings, AAA -> F,
' `# y) a4 m& M2 Q0 H9 Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
, H* L3 Y6 M: j5 I( B0 Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& y8 O% b& v8 W1 i
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% S  X+ R$ r+ K% X& M1 TAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ S. X/ }' k& ^6 Q  n
similar to bonds, CDs trading in the secondary market have different value at different times,# D2 @: m/ G+ i) ^' m
normally the value is calculated by adding it's principle and interest.
- q! ^8 o' A: y5 e* t) aeg. the value of the mortgage+the interests to be recieved in the future.
( W+ K2 \  X2 x" cbanks 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.. v9 p4 z. |8 n! u5 ?. e

) s( y; c$ c6 y: O5 Mim not quite sure if the multiplier effect does really matter in this case.
$ b/ k. A+ y7 w/ Oin stock market, it's the demand and supply pushing the price up/downwards.# d! n  o* w' r) `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 X  V0 G, Z% \" [8 P7 {/ {! iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 k1 H1 g' Q8 L5 |- V
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. - e9 p* [0 ?( E4 l) S" _! r) \% |% C
but the value of their assets did really drop significantly.% E6 x' U2 [2 R6 G6 J+ b

" l3 {/ t8 C& b. C; I- [[ 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- r0 [9 P4 g! c2 Z$ \% q$ m. B7 _
Refer to last example,
' b: B* a- z+ wthat means bank A have no money because we borrow 10 dollars from bank A & ]: W7 `- C/ _) x- v/ r
Because bank A doesnt have enough cash on hand
5 B  }1 M+ e, w( Ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E/ o7 [" `4 C% t0 l. i
so does it mean if E failed to pay D,
( @' e( y/ a" Z$ M7 `all the B,C,D,E have to go bankrupt?" e; l. z$ O# F$ q+ F1 Q
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* }3 N, Z7 `; F* e" Q/ {$ G5 ethe multiplier just tell how much money created in a whole economy,
! x9 @) C! I/ }  ^8 e5 r; I1 Oin this case it doesnt really matter how much money is created,
# q' w! _' Y6 y; {4 `. q2 a+ ?it's the problem of the debt itself.& h  |4 y5 o; X# u# T# E8 B
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/ b2 X: _+ X3 {, s4 J5 K( i
小弟一直都唔明...
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; R, T1 q6 ?- i, Q全世界都蝕錢，咁邊個賺緊錢呢?4 y. F: `$ r( ^5 F
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無可能淨係有人蝕錢無人賺架嘛...7 c: O6 J& P/ |, S: m
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敬請各師兄解答6 V+ w+ h+ ^; ?- o
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Thanks

8 F) ?# `" x2 |5 I* b4 S那些根本係 紙上財富  
% j) R) m0 k/ A! q: y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: L/ Z/ |' A  D# z7 w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" Y: U$ E# w$ B) t1 t4 Q, i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" L* r( Q( J0 v- u0 v' y% @/ {
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) P+ I, |4 }2 j2 \1 \
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: N: ~! C; u( s8 c計番回報率就已經係50%,所以可以好好賺
! T6 v: ?+ K1 |0 Z. ^前提係銀行之間要互相信任先可以咁樣借法
! g% d4 G  y7 X5 h& s; p7 A" H同埋個市場既前境要係好先得$ D9 Y: P, [1 w( [
但當經濟一差,公司估值趺了,物價不升反趺
( v, n; d% m# T" z# ?5 h例如剛才說10蚊的, 趺到得番9蚊,
2 A1 Y/ s' t1 @& Q5 L! Y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 S6 A) P9 ^. u: F0 E
所以你就會覺得D錢好似蒸發哂咁* P: K. g: P( ~# {

8 A; [4 T. m0 j. T% B7 R; T( e! T你都可以當標野咁諗, 個樣野多人可以狂升值, # ], H: X) Q  r# s- r* I. |9 O8 ^
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, 1 W3 a* Y4 c; ]# P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& C3 M$ C& v  y3 z- S- u; H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
! X4 j; c. n3 w2 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.gif
5 i, q$ C' {% o0 }3 ]0 J$ Z6 c( w唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ I* \- e4 F4 V3 z% L# |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( x7 T' X+ d7 D* x6 N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  @0 c) o$ v( Q" h6 z/ [3 U
咁你話d錢蒸發左去邊? ...

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! Y$ g  p- F4 D$ G! g正係咁樣
  W/ v4 U, p/ H& H: w: f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
8 |7 V! T: ]: `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,
" t! X3 w) B; [連國家都係問人借, 不停發債券, 印鈔票
2 ?/ P& b! s7 O& F0 e) h! f; ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 t3 _3 F6 C0 Q0 i1 E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
7 Q+ A' y* {8 |3 l咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 |& |# V# ~! p! Z( V其實係...
( Q$ A3 \) C! j8 _因為以前未生產, 先消費
1 \* m" d; g! X3 W而家就要多生產, 少消費