0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* `5 n6 V. H1 _& o2 ?( F5 J
Why bank will sell 借據給第三者???
  h+ {" _3 g! L0 d9 h% F  r- T! p1 ^% Z( |I was so confused.....

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講到尾都係賺錢  C6 d' n/ [8 A
so銀行可以不斷放款
" _( J/ V/ \8 D3 T9 r- z5 W/ N美國的房貸問題散佈到全世界
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$ x8 R# T+ n$ V: N2 w& dmortgage loan   i8 C4 T3 }9 r& m* ^
>conduit( L& r: P& h6 j& o
>RMBS(Residential Mortgage Backed Securities)  o& F3 t1 m3 V% \% K$ _+ t* O
>arranger
6 x/ I: @  D& ]: L4 E>CDO(Collateralized Debt Obligation)
. N, {: G+ o* h2 M1 R) S4 Q# L最後去到投資者

Kev

i thought it is the reason of rate of return.
5 G9 H+ N1 o% M' |; FCDs could have different ratings, AAA -> F,
! g% z) o! Z3 d4 Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 x/ E5 I. i5 `, @main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 V. J$ T6 u( A* yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' Y# e3 ?% x; i( T1 WAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# y, S& g- `$ f) O  k" w
similar to bonds, CDs trading in the secondary market have different value at different times,( M- c! r6 }0 a) P. T) X1 H( H; Y
normally the value is calculated by adding it's principle and interest. " P' M, J6 Y1 i$ d
eg. the value of the mortgage+the interests to be recieved in the future. / G! Z9 t; s% ~" @! q' v6 B
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.
- M8 w2 y) ~+ e  A' x" A, |in stock market, it's the demand and supply pushing the price up/downwards.$ J5 I2 _* Q& E3 p! K
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& G: y+ D9 l  T6 Q7 O
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- y( g' m2 B, {+ J
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. ; c8 P9 n9 A  q( f, t
but the value of their assets did really drop significantly., o3 j2 W2 U9 Y# Z7 p6 A. o6 l
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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
" e5 P8 \# A6 LRefer to last example,
7 L& R" n* B: L+ j$ Pthat means bank A have no money because we borrow 10 dollars from bank A
0 Y, t) O9 L; J- t) ]Because bank A doesnt have enough cash on hand % F3 L  I$ x) X9 f  |$ a
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 X: z( h' m" VA->B->C->D->E
  }3 `9 d* k5 e; \, Gso does it mean if E failed to pay D,
# {3 n6 P+ D1 Q% P/ yall the B,C,D,E have to go bankrupt?! x2 v9 k0 v; L& y( q! Z

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* T+ x& H: Z: X% ?/ y: B) z6 ~the multiplier just tell how much money created in a whole economy, + ]0 ~# r  U0 p6 n- }( \9 U
in this case it doesnt really matter how much money is created,
4 d  L! {4 g9 X$ v7 Hit's the problem of the debt itself.
" a/ ]- w( U: b% y1 r0 d! D% Dthe 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% a& J( N# w9 ^! |
小弟一直都唔明...
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( F/ Y( G' E& U. K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...  b+ D5 w: c- p. ]1 J3 F8 n

. }1 ^, N3 P, T8 U8 b+ b, E敬請各師兄解答% R9 E, t) p; E% B+ w4 G

  A, y( q, G' K# R6 L* T  TThanks

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那些根本係 紙上財富  - W' L8 ^) ?1 |
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% b9 ~1 D$ ]% g* G6 |
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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
* d+ @8 ]3 J! x% T* f  @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 {6 M; A: Y! q; z/ f
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; C- T) f) [6 z. K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: c& b- G7 g$ k扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ o; g( }" t' D- R5 ?- f& v2 x2 O計番回報率就已經係50%,所以可以好好賺
. V/ s4 ~( b0 S前提係銀行之間要互相信任先可以咁樣借法
9 p! ~7 k4 ?  Q7 S7 F& ^' E同埋個市場既前境要係好先得
9 Y. H/ Q' O, n& e" v- f. b7 M1 w但當經濟一差,公司估值趺了,物價不升反趺4 O5 H. O* f% O4 S
例如剛才說10蚊的, 趺到得番9蚊, % Y: o5 A% k& N/ a/ z2 G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% r$ z- f* F% p$ R所以你就會覺得D錢好似蒸發哂咁) ~* i' b- ^+ l; B+ T

+ G* X" G4 _- P4 @你都可以當標野咁諗, 個樣野多人可以狂升值,
+ d& O' w! }. b/ H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, ) r; H$ R/ H4 d# N9 H" U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( `3 y/ P6 n7 D' Z2 Y! e  s4 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7 i$ P3 S  J  ]1 l1 b% l
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.gif4 P; N1 v4 i8 b4 ?' ~0 ^
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 D+ {* `/ j/ f+ |1 J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( A+ T3 {4 y$ Q9 C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
2 s9 c1 @& D/ q8 ~咁你話d錢蒸發左去邊? ...

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正係咁樣
" l/ [& U, C" ?& r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: W/ q' g; o5 ]$ D' _
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,: m7 b! C5 X7 N% _& H* G5 v2 Z* ~' w
連國家都係問人借, 不停發債券, 印鈔票7 }) A9 s. q: y& E& {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 ^  v0 {. n8 G6 E; w* {
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/ S& Z1 j' m0 D  F1 o
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
- i- w" a* |1 D因為以前未生產, 先消費, |8 w2 v8 E$ ]2 G) l! }' N2 h, {
而家就要多生產, 少消費