0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  u) E$ o( L7 j' H( w
Why bank will sell 借據給第三者???
% E% m! P$ @# W5 t! {I was so confused.....

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講到尾都係賺錢
3 @1 l6 `: ^& U% @* J* O  ^so銀行可以不斷放款4 P; M' q. G8 g( j- f7 p
美國的房貸問題散佈到全世界7 K/ P# N2 n& p) U' _
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mortgage loan & ^4 H7 P+ H- A# [% b: Y! C
>conduit
/ i  ?) I1 M8 S% R>RMBS(Residential Mortgage Backed Securities)8 I9 s7 K: p- P1 |
>arranger4 I7 q* K% s6 W1 f
>CDO(Collateralized Debt Obligation)7 _, }) y+ m# b7 _, s9 R9 T
最後去到投資者

Kev

i thought it is the reason of rate of return.' e3 M/ _) x7 ]- J5 X
CDs could have different ratings, AAA -> F,! S& a2 M5 Y( I6 H
more risky ones would have higher premium (interest rate) as a compensation for an investment.) c9 |+ D8 J+ Q" H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 G8 p# D5 g0 n) S" j. A
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ D. C) _# j$ j) _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* X, \8 f: v5 f
similar to bonds, CDs trading in the secondary market have different value at different times,
3 A' K. o0 a% t8 i  ]* A/ pnormally the value is calculated by adding it's principle and interest.
& |, Q6 ~8 e2 ~6 ?1 eeg. the value of the mortgage+the interests to be recieved in the future.
$ o7 e' \* p, F0 ]; C) l$ S1 N6 Ybanks 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.8 @: Z: F! b) C: z

+ F( y% B; P! K) t- mim not quite sure if the multiplier effect does really matter in this case.& A% ]! v9 x1 j
in stock market, it's the demand and supply pushing the price up/downwards.
  ?  Y$ m% e- _0 bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 c" u4 ]/ _! W) T" i# EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. A3 R. f+ c) W9 n; l8 o# o  S
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.
# ]5 {# n1 i; s9 ~6 hbut 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
3 o  |- @- O9 I4 J6 G+ p6 e- q/ rRefer to last example,: J+ @; h0 }: S  D) O5 Y
that means bank A have no money because we borrow 10 dollars from bank A 3 f3 G* x5 {' c5 g
Because bank A doesnt have enough cash on hand 1 K1 k2 i4 H3 C+ f1 @: j
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
& p4 s3 y( ?* }: W& x3 pso does it mean if E failed to pay D, 4 V9 f3 a. b5 _8 o# z
all the B,C,D,E have to go bankrupt?2 [' D" p6 R! Y( ^
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4 h: h, o8 c+ Y6 F# Jthe multiplier just tell how much money created in a whole economy, ) ~' L3 r$ m8 e, x' R: Y4 |9 f
in this case it doesnt really matter how much money is created, 1 o# X0 w$ h1 S' `. n9 }% p6 B
it's the problem of the debt itself.3 z- ^: m( e$ g- A3 A( v  j  v8 ]
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
. c* y6 h7 @! j( i. ?小弟一直都唔明...  R0 l  w4 h. e  P5 S6 C
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全世界都蝕錢，咁邊個賺緊錢呢?) z1 x/ u/ L  v

( H3 A! q8 P( C7 y) ]! z2 b/ s無可能淨係有人蝕錢無人賺架嘛...8 t" e0 o- C9 E4 l) Q6 U

* w5 j( a$ ^1 p. C8 O* N# p敬請各師兄解答
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Thanks

9 U4 K: D. C8 b4 F  W& ]那些根本係 紙上財富  
8 ]0 j# K" o' A" H9 [: u8 w: j/ }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 graphic2 L  _8 v' x, U+ {/ a2 }
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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
4 r1 P$ Q; W# b4 z# V$ C; c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- [+ N" W5 P- g: N7 {8 s' p; p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* ?, t8 U5 x; j1 Y1 ?  l6 b
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: |& k" D5 `/ G: W, z: ]扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 [& V- ~8 _- d計番回報率就已經係50%,所以可以好好賺
  O; ~1 ^( O  P0 p0 f前提係銀行之間要互相信任先可以咁樣借法5 \1 R$ B, T  N5 U- |+ T
同埋個市場既前境要係好先得
9 r1 ?8 J0 ~. \但當經濟一差,公司估值趺了,物價不升反趺
# A7 @3 v2 R& l' t例如剛才說10蚊的, 趺到得番9蚊,
) i  |3 M2 A& U$ [: B$ e咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' [$ r/ C6 h8 L) m, E所以你就會覺得D錢好似蒸發哂咁1 {9 `$ b8 S4 F7 b8 l" q: H

) M: t; F* {1 O你都可以當標野咁諗, 個樣野多人可以狂升值,
- X9 P# W9 |) \2 x/ r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, ! a% X; u3 x) v' W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # P8 S# p) \9 A% M/ y) }" g
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
8 s; t& X% M) f0 d# s) Q( _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.gif3 N  o) ~; N- U! w& Q6 y
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * Z# c* R9 p: z1 \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) \9 _8 v' ?: ~" l! a( S
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
( Y7 y. h. A* N4 {4 L; B9 z咁你話d錢蒸發左去邊? ...

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正係咁樣
2 u/ l9 O3 h6 H6 r' d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
( [; x; e* b6 ^$ j) F" g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,
9 i7 d# [9 [! ]. |: A連國家都係問人借, 不停發債券, 印鈔票4 ^& a- t8 r* s
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
8 E; D: ?( Q0 H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
; X2 A4 s" t7 J, N" J3 ]咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) i8 E$ j/ u4 u
因為以前未生產, 先消費0 X. B; O' Q0 z4 R# o; {
而家就要多生產, 少消費