0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 H9 v: O4 S( z; Z# f$ T) gWhy bank will sell 借據給第三者???
- J  D! O" A/ B/ S% R$ FI was so confused.....

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5 Q0 M/ \5 x  o( i講到尾都係賺錢
0 ^( g. }4 o5 u. Lso銀行可以不斷放款: O1 d$ T; z! `7 }, N
美國的房貸問題散佈到全世界0 a+ _  r8 J: ?# x6 j

& }, X: \# R3 s: K# P# Cmortgage loan
# l8 O- z& `) a/ K7 Q>conduit
: H" j5 W5 ]3 X& L3 J>RMBS(Residential Mortgage Backed Securities)9 S$ _$ |! d: }. [
>arranger
" Z' P  i+ b* `; g7 Y>CDO(Collateralized Debt Obligation)
6 f; H" M8 D: s5 w最後去到投資者

Kev

i thought it is the reason of rate of return.! ~3 O6 Q- T4 D- r( `
CDs could have different ratings, AAA -> F,
' T6 ~! @1 w/ p9 B9 vmore risky ones would have higher premium (interest rate) as a compensation for an investment.
5 A% \5 x, F3 hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ T% m: l/ x/ Y% \& t7 lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( c& U$ R7 g7 d1 c6 FAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 |6 c! Y" ^: G+ [  r) Q- b
similar to bonds, CDs trading in the secondary market have different value at different times,2 d* {4 j; z, s4 z1 t
normally the value is calculated by adding it's principle and interest.
( n! D# m6 o! xeg. the value of the mortgage+the interests to be recieved in the future.
: |: K- i$ m: U9 tbanks 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.0 Q5 {  f+ `1 s' m+ v' y
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im not quite sure if the multiplier effect does really matter in this case.5 ]# x9 N$ o5 M3 m
in stock market, it's the demand and supply pushing the price up/downwards.  ^7 d0 g$ i: V) M1 o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. _8 B, ^. \; z& T. \/ o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& _7 a2 z4 `; \8 {. kThe 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. 1 I/ E, z6 M8 d* P( n
but the value of their assets did really drop significantly.
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7 D* ]3 ^, }7 R[ 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
6 f9 ]: r  o" L2 f/ sRefer to last example,
* l7 {) }% V6 Sthat means bank A have no money because we borrow 10 dollars from bank A
: _: M2 e/ q5 p  w7 RBecause bank A doesnt have enough cash on hand 0 P  t; b! q& x% y0 f- K
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E9 \  n# V3 ^4 ]* [0 B4 M
so does it mean if E failed to pay D,
: @8 @" \2 F1 k' pall the B,C,D,E have to go bankrupt?1 R, h7 G; E; {3 Z  }
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the multiplier just tell how much money created in a whole economy,
' A2 G+ n' j0 t/ N! M& Iin this case it doesnt really matter how much money is created,
: z0 N. @8 x7 v- t) {* ]4 vit's the problem of the debt itself.* D2 i$ o4 X3 }! D9 h
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& }9 M: v; ]- m" `$ ?" q
小弟一直都唔明...
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) G2 o$ ]# Y* Q% E# g  E全世界都蝕錢，咁邊個賺緊錢呢?% _2 V: p3 b! O# j# |
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無可能淨係有人蝕錢無人賺架嘛...0 d% W; D( N$ M/ Q

5 i% ~6 @  _; @8 j, P; |7 z敬請各師兄解答0 j' @( [6 Q( s4 M( i6 Y' A
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Thanks

' F0 D6 Y& x' L那些根本係 紙上財富  5 x* U; d* J. _. K% i
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 graphic1 k8 P% }! ^3 D% v
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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
9 ?+ J5 |; t" p$ n. S' _4 I0 b1 f; [當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 U5 {# m/ R" l" U9 G9 Z
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& p+ I. Q  Q1 o5 h
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- `9 U1 m* Y3 h& m% [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& i% }8 U2 O% {) Y! v/ P1 c7 {
計番回報率就已經係50%,所以可以好好賺' R' A; r) S/ ?" W7 P
前提係銀行之間要互相信任先可以咁樣借法6 [9 l( P* b. e8 ?
同埋個市場既前境要係好先得$ M, ?' W2 g+ x5 ]0 J
但當經濟一差,公司估值趺了,物價不升反趺
$ g7 W/ m8 w) J$ p, S例如剛才說10蚊的, 趺到得番9蚊, 6 z8 z; x. M# M
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%! g6 T9 _' \/ i" ^
所以你就會覺得D錢好似蒸發哂咁) `0 q& x( ]5 B1 B" b* }& N

$ E3 p: O% e9 c) [你都可以當標野咁諗, 個樣野多人可以狂升值, 0 |1 \# v% \' }* Z6 y
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, ' j' h8 O5 Z; p# U* ~# ^1 D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! K% M$ x- B' T. @! v, l- k- x* P
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
3 R( j- M4 b# h, y2 O4 y3 z# H4 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* }, @- J/ X% c( _% V, j0 u' M
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 @3 r8 i8 R( N# f- T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" ^2 ^: K2 l5 _7 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
$ C8 ?% d6 x: `  q1 `8 E' A% y1 b咁你話d錢蒸發左去邊? ...

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正係咁樣) H+ o) X/ S% f; E: U
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. C% q5 h3 I( r9 y" f. p0 T, v, B
分分鐘佢地唔使還錢* A( G; K, b0 ^5 L* c
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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,
6 |: E& v1 h3 ]) e連國家都係問人借, 不停發債券, 印鈔票- G1 i& }# r! u4 D
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. F3 I& u9 ^* s- t$ ~# [  t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.gif2 s2 A2 {3 q1 f3 |
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...4 n+ r+ J- p; q* P7 [' [) W
因為以前未生產, 先消費0 }  O) z7 i1 I5 @
而家就要多生產, 少消費