0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 S' W: T) l8 xWhy bank will sell 借據給第三者???" E# l" y1 V" a* L/ ^
I was so confused.....

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& B" U5 x# I' |" {講到尾都係賺錢
9 o# T/ _( Q7 W2 D2 U/ [3 l& G; Rso銀行可以不斷放款
: p: `+ k! K, C美國的房貸問題散佈到全世界
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; O3 X& h6 a# v4 I5 Gmortgage loan / |6 ~# O' D# b- [: ~9 n
>conduit  k9 `: _) E2 m3 z1 E
>RMBS(Residential Mortgage Backed Securities)
- `  s2 l6 E$ L3 x7 b: i0 u>arranger
( N9 f8 \# ]3 O- x>CDO(Collateralized Debt Obligation)3 {& U* ^$ K2 O
最後去到投資者

Kev

i thought it is the reason of rate of return.
6 z! s7 }; u- I- Z7 pCDs could have different ratings, AAA -> F,% e3 y& g0 L4 n! G: _  t1 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 P- l6 U; S& `main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# }8 J* B# x, V& s: X0 w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& d8 w* \6 k& W& Z- z6 q+ @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 S* a, v6 U. i/ h! v8 K3 {# }similar to bonds, CDs trading in the secondary market have different value at different times,' k8 Y  t, Q6 |5 e1 e5 u- T
normally the value is calculated by adding it's principle and interest. ' _" M8 ^" S/ `& |! _1 |
eg. the value of the mortgage+the interests to be recieved in the future.
1 u* s" m5 Z" a- F4 n* Zbanks 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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: o1 R% l1 c8 ^' c( p9 E* uim not quite sure if the multiplier effect does really matter in this case.
4 \3 ^2 X: `, d7 G4 cin stock market, it's the demand and supply pushing the price up/downwards.' m. |) O/ k9 g4 b, ?8 [  J1 m! n
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 p0 w% Q- n4 I; G1 ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, I/ ^) k# ^& i( i( B" z4 fThe 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. # O+ {7 n9 U0 K* a) ~( j$ \6 k+ f
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/ A5 l  j2 V* u9 [  n
Refer to last example,
/ F: q% Q% X3 Zthat means bank A have no money because we borrow 10 dollars from bank A
- x# T! O* ]* d$ _  f# F+ hBecause bank A doesnt have enough cash on hand
: z: O  v. l" M1 V! N0 ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E* z/ L" `% k& t- s' {2 i# ]8 Z
so does it mean if E failed to pay D, % `% Q9 v' T* L! ^" R1 n
all the B,C,D,E have to go bankrupt?2 c5 P9 ^% [  S! |
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the multiplier just tell how much money created in a whole economy, 8 h( J  v" o& L9 B
in this case it doesnt really matter how much money is created,
8 W. k- v- w3 Z: I6 Qit's the problem of the debt itself.1 t% C6 `( {  ?* ?
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( r. K# H1 q, P8 c/ Y/ n& l6 V1 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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7 p# o; W# z* a) ~  g# |  p無可能淨係有人蝕錢無人賺架嘛..., ]3 h& c/ O$ o) J! k# ~, h
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敬請各師兄解答" D6 `+ C) ^2 j: H* b+ G" Q8 x# X) ?

" H+ \5 D1 k3 B/ c! G( @, rThanks

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那些根本係 紙上財富  # d1 Q; s6 P; p
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' O9 [% |; S# K& q, v; i$ d3 h
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- x$ [  c- f5 U" \+ K/ j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
% n" w# A3 m/ F5 d& \$ j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, Y4 `, d( x# ?. ?' l. T0 [6 D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% {( v, s$ p+ D+ U- ?- U計番回報率就已經係50%,所以可以好好賺( J5 s- J5 R, {9 [% J, _5 Q- E6 O
前提係銀行之間要互相信任先可以咁樣借法
0 c) t" j6 ]* t  @4 v8 D8 v同埋個市場既前境要係好先得
* ^" P1 d  i( a( |* J; N但當經濟一差,公司估值趺了,物價不升反趺
) ?* N0 K. E3 d8 C  O* x例如剛才說10蚊的, 趺到得番9蚊,
% _. i3 C; a/ s. i+ M8 c6 d2 M咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ I( a' F- M. E# s& z9 G5 x所以你就會覺得D錢好似蒸發哂咁
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$ b3 g  @) t3 l+ x  {( a/ {你都可以當標野咁諗, 個樣野多人可以狂升值,
3 ~5 c) ]) V/ ?$ Z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, 5 l0 y0 @# I& \5 [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: b) @. a8 [& k! H: Q6 X. I3 I8 K  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
' l' ~3 {  J- M/ p5 I* g- o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
! T/ q# Z7 ^& }( z% }3 N0 `唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 ]0 W. q8 _7 T0 q; `$ p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 I7 I! O7 N( D6 x# J( G: 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
. n) n: b% _) e. F咁你話d錢蒸發左去邊? ...

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正係咁樣5 H$ W, _$ }7 U; o% P3 B: 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/ k$ j# d  \; ^( `: R
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,
# f1 d, i7 I" t0 z, \連國家都係問人借, 不停發債券, 印鈔票, C2 _% h6 T0 y0 K/ X' U4 B% ^) r
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 K3 ?  g) ^0 _( }' I5 N1 Q
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
# m! E; W; K4 V& {, ~5 G咁而家"爆哂煲"算唔算先至係變番"正常"???

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# m* Q: ]' h$ G其實係...
$ H$ K$ M  K( r3 J因為以前未生產, 先消費
; ]8 `. J) w5 E1 K. j而家就要多生產, 少消費