0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; K; ~3 [7 ]* V! {0 B' p4 p0 V
Why bank will sell 借據給第三者???
& h, {+ s4 Z! pI was so confused.....

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, P: C0 g% B4 f講到尾都係賺錢; H8 _7 S8 w: J# g/ g6 H$ F0 ^
so銀行可以不斷放款) o/ v, ^8 M/ X
美國的房貸問題散佈到全世界
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5 x( n5 W+ W0 V9 F, C# omortgage loan + k1 P- @3 D. k6 m
>conduit
' ~* @( }- K% n! R>RMBS(Residential Mortgage Backed Securities). t* l' D" m1 h4 u
>arranger
+ g6 x" }0 r% x>CDO(Collateralized Debt Obligation)% H7 |- s* ?! p9 l
最後去到投資者

Kev

i thought it is the reason of rate of return.
7 a* R" S8 {7 [$ pCDs could have different ratings, AAA -> F,3 S' R/ _8 U6 ~2 L, x& A
more risky ones would have higher premium (interest rate) as a compensation for an investment.
$ }% W2 f5 A! i) d% |main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 _" w7 v5 ^  k" J2 W9 |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' y0 \6 H+ h  b; M
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: @! j" r* n/ J! y* n% z! t' hsimilar to bonds, CDs trading in the secondary market have different value at different times,# g$ @. Q8 c3 b, C# `; L0 c
normally the value is calculated by adding it's principle and interest. ! w5 W9 I2 G0 O/ m- @+ G: N. f
eg. the value of the mortgage+the interests to be recieved in the future.
$ d' t. n5 e# D4 C+ A8 ^+ }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.2 w5 Y, q5 t6 P+ ^* [- [$ n# U5 y0 w

9 B3 L; U0 s' X' }, D) |" [- o/ [$ rim not quite sure if the multiplier effect does really matter in this case.
6 ^) P8 l0 w4 [% Y# c: J; ]2 Iin stock market, it's the demand and supply pushing the price up/downwards.8 I# U6 f) F4 I+ [$ g* }& l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ d. c! x0 a$ \0 f; Q6 AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; Y' l' b1 q6 d; t) H% O
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. 8 z. j8 _0 Z3 a! G7 {
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
" ^( E( b& e8 P6 f# w$ s6 [: j! vRefer to last example,
3 J1 [& c. c  r5 g2 kthat means bank A have no money because we borrow 10 dollars from bank A
; z' c& X: I. W9 V5 oBecause bank A doesnt have enough cash on hand ! p. F- M" S/ G3 w3 G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
! A. Z9 Z' F" q7 I8 g2 qso does it mean if E failed to pay D,
8 L6 Q! D, w3 \) Y3 W9 Lall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, / _" j6 T+ G& ^! {
in this case it doesnt really matter how much money is created, . D& i( q0 z9 o  i. u! L
it's the problem of the debt itself.+ [) I$ O5 V0 z/ }
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
0 p6 Q2 S% N5 r! d$ H" U6 n小弟一直都唔明...' b; {; M1 m" U) G) J8 T+ T" b
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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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# |+ N) {# U; ]" aThanks

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那些根本係 紙上財富  $ @( `  U+ Q. K
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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4 o! B: z' Y9 l  O0 Dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
9 ~/ c' k: o& N; ^當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ E6 U* a- |' B3 v* |. G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: W2 a1 v4 H) R- ]1 B
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦: b# J; j5 Q! E+ ~; V' o! P8 o% G4 j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 x* m" Q0 a1 X+ x5 K' D8 ?計番回報率就已經係50%,所以可以好好賺3 y! a! \# C' s
前提係銀行之間要互相信任先可以咁樣借法5 R' ]: L2 A% [) H/ N& \7 _5 n
同埋個市場既前境要係好先得6 u4 z4 ~0 I& x( S; i2 D
但當經濟一差,公司估值趺了,物價不升反趺/ k( Q( c( @- L3 Z, {1 x
例如剛才說10蚊的, 趺到得番9蚊,
  t! F% N0 A4 U1 l+ f( \' @- G咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 X0 Z# c- l) C" L: x
所以你就會覺得D錢好似蒸發哂咁
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8 q: x7 h% M/ m  h! W, `% ]7 q你都可以當標野咁諗, 個樣野多人可以狂升值, 4 V$ s1 n* l' |. K* u
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  F5 V* ^( t! X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 b0 j  [" u- W; _. ?  u
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, I% H% s. L' ^- d9 I+ O0 K% H9 y: X6 H/ K
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 k+ h8 U6 ^# z  @6 [$ p4 z唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; c( ]8 |; S, q/ J7 ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 p: z1 F  v7 y1 F) j
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& V3 l  _' V% r2 y
咁你話d錢蒸發左去邊? ...

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正係咁樣9 Z4 f) `: P( H3 ]7 M* E
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
$ _; F2 l4 t; G& X8 V! K& t分分鐘佢地唔使還錢+ [: Q& U0 _/ I, P3 ^/ ~

2 @5 l* O' t! H1 h* y0 @5 S; b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,0 i( f# W; a4 R- X5 _
連國家都係問人借, 不停發債券, 印鈔票1 L+ Q: d$ t& I$ U7 ]1 u" J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 Q1 G7 F1 [5 o) O1 s
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- i  k: d; {3 H4 i" {8 ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- n2 j  J. ?: d& A9 }( F其實係...& _* m1 Z- O, I, P! v  m, Y$ q% Z( e6 f2 N
因為以前未生產, 先消費; B' J+ K3 Z+ q
而家就要多生產, 少消費