0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 _0 G/ G1 g. U% o) M3 T
Why bank will sell 借據給第三者???$ w* g; ]4 |, L) f
I was so confused.....

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講到尾都係賺錢
) R: O  F" F, oso銀行可以不斷放款
/ ^0 G' l3 ~  F" P, g9 p美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
. U' H* N2 c/ d: U' W* P, Z>arranger
* @- d, @& x  ]! j' I; H>CDO(Collateralized Debt Obligation)
7 ~: J/ m9 U9 C9 ]% P4 {. J最後去到投資者

Kev

i thought it is the reason of rate of return.* w9 ~' h( ]. a# h; y. E
CDs could have different ratings, AAA -> F,
3 ?/ h' S# g5 o' V7 Y- F* ymore risky ones would have higher premium (interest rate) as a compensation for an investment.
% A9 M# B1 G4 V9 q& g! U% g2 |! jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ P& v7 S4 f0 @8 Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 I4 r6 E; S/ r% L, O+ X4 x( y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  O8 x' K! \3 ?7 j/ Y; e9 u
similar to bonds, CDs trading in the secondary market have different value at different times,6 V3 |& Z3 _+ j2 ^2 {' d6 F3 {
normally the value is calculated by adding it's principle and interest. 1 r& I5 ]1 Q8 D9 L) g$ g0 `0 h9 `
eg. the value of the mortgage+the interests to be recieved in the future. ! {5 i% W; \$ U/ o0 ^: Q
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./ |, B2 D9 c( o0 y: V; a; @

: @5 c; a3 e) I1 B1 T7 Uim not quite sure if the multiplier effect does really matter in this case.2 p2 |% |) [0 m' M- D
in stock market, it's the demand and supply pushing the price up/downwards.
1 e; u( g, e, m1 Q$ G5 GFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# ~% ^( ~1 E8 L! Q( U
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# Y2 J/ Y; B/ e8 G* a+ 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. 6 ^8 g- g- |1 G' c
but the value of their assets did really drop significantly.3 M! [# \' G# x) j: @6 }
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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% I+ ~' H& _/ i2 S" R4 u
Refer to last example,
4 K9 c2 O! f( ithat means bank A have no money because we borrow 10 dollars from bank A
* D9 c. U/ X+ m! B4 _. YBecause bank A doesnt have enough cash on hand
; K" ~5 R9 N5 ^* d) W% u, itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' E8 q* ~1 T- S9 Eso does it mean if E failed to pay D,
+ T0 D' j/ ?; Y+ x% sall the B,C,D,E have to go bankrupt?/ _/ [" {9 J4 X9 w
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the multiplier just tell how much money created in a whole economy, 7 L# J  t8 @: |" M( q
in this case it doesnt really matter how much money is created, 0 f% i" ]% ], V7 S- x0 N( A( |
it's the problem of the debt itself.
- y2 t! X0 N& J" kthe 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" M; s5 w' S! o2 X- v. |7 |0 B: W6 U
小弟一直都唔明...8 `, |( ~( G$ m; I/ Q6 F

$ k8 z) b- A8 C7 y9 ]全世界都蝕錢，咁邊個賺緊錢呢?
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! k7 g8 K! v0 H9 q0 `無可能淨係有人蝕錢無人賺架嘛...5 o6 E  ]0 a& N# G3 Q. \7 U
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敬請各師兄解答4 w3 O9 V3 k! N! }
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Thanks

8 t8 k7 a/ H; o* ~9 ^那些根本係 紙上財富  ; _( [3 e6 d2 @" Q
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 graphic5 {: x& c0 E# g1 w6 E, N
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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; M9 u$ j/ X& B
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% R1 h! h# P4 S7 [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
; V1 H7 m1 m1 c' N個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: S% C( t/ U( A9 g扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( M, W6 T" j+ Z( G8 ]- x" _* D計番回報率就已經係50%,所以可以好好賺( ~$ _- v  S+ O; q* Z
前提係銀行之間要互相信任先可以咁樣借法
" A  S+ m7 P1 U, O+ r6 ?同埋個市場既前境要係好先得
. S; L" x# y4 I+ }! {5 P但當經濟一差,公司估值趺了,物價不升反趺
4 P8 K' _: w5 w; Q2 H例如剛才說10蚊的, 趺到得番9蚊, / n+ i3 ]" z  x; W6 w" P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: d2 N' R8 b, _
所以你就會覺得D錢好似蒸發哂咁: `* p' C5 A2 U0 `, N

7 p& {0 u* k- j+ x9 c5 B- a, }. k: X9 C$ K你都可以當標野咁諗, 個樣野多人可以狂升值, ) a# w( \, z& O- k- r$ D
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,
0 b# H4 ]" y# p3 ?  B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' V$ p1 p2 R/ k9 r  l8 f: ~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% G2 _  P+ b! S3 }# r: |1 W0 Z
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) d$ @! ~' Q! [, J
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ |$ a* n& B4 I  n0 K% I8 a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 ]( ?0 M+ f  V3 f$ _
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
6 @5 L* ^7 @0 u, T咁你話d錢蒸發左去邊? ...

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正係咁樣, A$ l  E, m  v, @* \
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! j( Q. A# F; L8 S/ P' V# R
分分鐘佢地唔使還錢6 j" M0 L( C' G% o& R) T
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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,
( V0 e5 U- K# I- t+ _連國家都係問人借, 不停發債券, 印鈔票5 D8 }: T. t% m. S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; z' c. ]) V2 M% P: ~) l
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
6 h; I! @% ]& {6 W- [, @咁而家"爆哂煲"算唔算先至係變番"正常"???

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* y  B& y( _$ s% D" j& E; c2 l! t2 a其實係.... ]: c; u) \8 q5 t" h% W3 [
因為以前未生產, 先消費8 }  I5 r: k$ b% f6 Y" q
而家就要多生產, 少消費