0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ A1 W) L( I, s+ i& T, Z
Why bank will sell 借據給第三者???
: o) U# A( W1 A; x  TI was so confused.....

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講到尾都係賺錢
$ W* k  T. f$ U% `/ rso銀行可以不斷放款
& b* x9 i5 l. F美國的房貸問題散佈到全世界
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mortgage loan & h0 }+ x! x, P5 C* V4 L- i
>conduit( @7 E' J% b; B" U$ S3 |
>RMBS(Residential Mortgage Backed Securities). {" ~% I, B9 i# r
>arranger
. s( E' o4 m) I: k9 R6 e>CDO(Collateralized Debt Obligation)
& ~: r- p$ n; b# y1 v* n最後去到投資者

Kev

i thought it is the reason of rate of return.
+ j) _" \* Z$ ^/ \! q  ]CDs could have different ratings, AAA -> F,& E/ f, W6 O( W) Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.' I2 r. l; ^0 O8 k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 X7 H$ B! @8 {' c% |% f0 Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% @  l1 ^( H# X+ h8 P# Q9 aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; L' ?. u0 f% a: a: b( h  T3 Qsimilar to bonds, CDs trading in the secondary market have different value at different times,6 a  f% [: h( q
normally the value is calculated by adding it's principle and interest. / X6 N/ y1 w3 ]7 @4 `8 C
eg. the value of the mortgage+the interests to be recieved in the future.
( [$ l5 i# T3 i* e; H( y9 Sbanks 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 o+ A5 S& X% F
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im not quite sure if the multiplier effect does really matter in this case.5 D$ A  P& K3 [
in stock market, it's the demand and supply pushing the price up/downwards.
& q$ Y$ W1 ~2 G8 k" _For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 ^5 k, U; V: C# b  V
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
  T& r: N- \9 i4 p6 |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.
9 e- E" c6 T# w: m% I  r1 Hbut the value of their assets did really drop significantly.- A3 i, y* S8 |( X+ Y! ~! K. ?% `6 {% A. a

0 h( J& ]: D" A, ~! ?2 u[ 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& A% Q' Y. ~3 T$ \; \9 s% B
Refer to last example,
* |" f7 F- F, ~8 {that means bank A have no money because we borrow 10 dollars from bank A , e' m7 ]$ {9 z7 M7 ~$ i1 Q
Because bank A doesnt have enough cash on hand
$ A4 G9 k% P/ M# F+ ~therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; u  C! P) }$ K3 Fso does it mean if E failed to pay D,
2 W) k) x6 V/ n9 m+ Nall 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,
, O; m5 p  S, A6 q/ Y+ ein this case it doesnt really matter how much money is created, ; E! R+ B% u8 l. |- \7 E0 E, X
it's the problem of the debt itself.1 T2 f3 }5 P! V# A1 q6 ^6 w1 |
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.gif1 V2 p$ n' i+ p8 u$ m/ t0 a/ X; i
小弟一直都唔明...
$ H# j* V" \$ ^6 L% D) |4 `6 `  ], ?
全世界都蝕錢，咁邊個賺緊錢呢?$ b) Q2 q3 J( B8 d7 @+ {% F, I

, r9 j9 |' ?0 C無可能淨係有人蝕錢無人賺架嘛.... q/ ^# e: R" Q7 y
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敬請各師兄解答) Q% G4 {- N# u
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Thanks

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那些根本係 紙上財富  , h$ I. P/ _$ }( n/ J9 ^$ Z
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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9 {/ y' T$ ^% |' ?8 Shttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
" ~* W8 {( f/ d2 k0 V* {) Y9 p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 U% C. ?" f& \/ A$ B9 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
( ]6 \; @' i  ~- J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( _  P3 y' Q5 Z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 v2 s5 J7 X0 I計番回報率就已經係50%,所以可以好好賺
1 q+ @* U: b" m; M! |& @前提係銀行之間要互相信任先可以咁樣借法0 S( {6 t1 J3 O' U8 `2 h5 n
同埋個市場既前境要係好先得
- d" V% |3 ]4 e+ Y2 @& J但當經濟一差,公司估值趺了,物價不升反趺
6 Q& l6 o, b/ n% G6 u1 P, n0 ?例如剛才說10蚊的, 趺到得番9蚊,
( G6 W- D7 k; N- G1 P咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ N, ?6 n# w. A6 W/ o# g3 v1 y
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
  S# {" E$ M  o- e- t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, ) V! O: W+ d4 x7 c; n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - l+ ]6 x7 ]6 M  G) w) O$ |. @+ 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
' R2 ~/ M5 v- B; I# ?# 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.gif, c+ ?$ u" I4 k- g
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 E4 F6 W/ m. W/ Q4 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ o! \, x7 p/ k& g( K& 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% M# ]- y3 C. O0 e% k7 X; \" ^
咁你話d錢蒸發左去邊? ...

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正係咁樣& q1 }5 p! K4 p1 t
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
! B6 U  T% E0 }4 P. O分分鐘佢地唔使還錢; R( H, }0 e+ Q+ N

  a' o" E$ Q! E( T, `0 Q3 z0 D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,
* \$ a+ d0 N7 r  k連國家都係問人借, 不停發債券, 印鈔票
; N  j* V1 P% M  G1 |一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" B3 t! `$ }6 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.gif/ F+ {* ]: z* M5 `
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) Q3 ?: J" m& {, \1 l" t
因為以前未生產, 先消費. V) ~6 U( w6 m, Z2 p
而家就要多生產, 少消費