0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ m( u  j! d  V. v7 a
Why bank will sell 借據給第三者???; E& J9 O! K. M+ b9 C9 q( d+ `4 ?
I was so confused.....

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7 c4 L7 S# S1 _* K& ^講到尾都係賺錢, ^3 k0 G6 i0 X% q1 ~$ n5 B
so銀行可以不斷放款
" ?* i, g- N- b; Z4 j0 [4 l, ~美國的房貸問題散佈到全世界
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8 X) v  S  x# K  i2 I6 Kmortgage loan ) C( S/ @3 t$ Y1 [
>conduit
, |  o: F! K& h4 }>RMBS(Residential Mortgage Backed Securities)9 S! s" V- r; u
>arranger( X% R' b9 y+ L7 v: l8 t$ c
>CDO(Collateralized Debt Obligation)! b; ]0 \' [: x# y/ g  |  v
最後去到投資者

Kev

i thought it is the reason of rate of return.4 P9 f2 C! E  h
CDs could have different ratings, AAA -> F,- |1 }4 y5 i& y3 `- f) R: n# Q: T
more risky ones would have higher premium (interest rate) as a compensation for an investment.
# w. ?: [' c0 _8 B, S: A/ gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; s5 B/ S6 K) F- G1 Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ {5 F- P  R. V4 J: V
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# ]0 k  g' k* L! C* L$ z9 F
similar to bonds, CDs trading in the secondary market have different value at different times,+ Q/ _3 S2 ~4 K3 c3 u, {& o/ J
normally the value is calculated by adding it's principle and interest.
% V8 H6 [& ]6 k) }eg. the value of the mortgage+the interests to be recieved in the future.
0 _/ F; |! Q# A0 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.
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im not quite sure if the multiplier effect does really matter in this case.
0 ~+ H3 u6 N7 Kin stock market, it's the demand and supply pushing the price up/downwards.. Y, M* r/ Q+ m8 ?
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ U9 T; ?0 k8 t$ [: i3 R7 L6 N
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 m4 _3 I- e8 _0 F5 dThe 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.
2 s% P8 B) w1 S4 u$ }' fbut 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.gif1 r6 A. M( H# _
Refer to last example,
- \2 \; A4 G" _' Q& N! Rthat means bank A have no money because we borrow 10 dollars from bank A & |/ J- D" ?  e( T# {  l. [
Because bank A doesnt have enough cash on hand
# c& y# Y; j2 b0 ^. e  itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E: {; q- V. ?, b  _* }
so does it mean if E failed to pay D, . D$ e6 B$ l7 ?7 ^4 @
all the B,C,D,E have to go bankrupt?7 m0 V6 b5 b) r7 l; h* l

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6 x' r5 Y5 l( dthe multiplier just tell how much money created in a whole economy, ) g* B6 E( U8 Q9 y4 g3 d
in this case it doesnt really matter how much money is created,
# c5 p' s& g9 Y5 `3 @+ X# P+ N* lit's the problem of the debt itself.
% ~+ b# D& h: V" h$ B( y; ethe 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# x2 j" H2 t; p1 B& \" v
小弟一直都唔明...
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2 @0 M! K% i! `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...* i7 G3 |5 _5 }  _# D7 l0 U3 a

  X" K4 s2 g1 {/ u4 ^. \敬請各師兄解答
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4 p5 T, W2 n4 f/ ~- Q6 R/ UThanks

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那些根本係 紙上財富  1 l9 k1 d  c& m: _& v
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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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% k8 e9 s( `- g7 e$ Z  ?1 f4 ]) b
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高: R2 O! c9 v+ z2 A2 O" k; {
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
; T5 X- j7 w7 d6 M0 @; P/ R! [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' F5 i. Q5 @8 e) _$ {6 s4 D; x1 Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 x# b2 ~  c% \& J- f% z* \計番回報率就已經係50%,所以可以好好賺: a: h  c! u2 k1 K" z$ J
前提係銀行之間要互相信任先可以咁樣借法7 ]" A% Q6 \  N( X! h: V+ P
同埋個市場既前境要係好先得7 T. ^2 B% l8 e$ R7 E' \
但當經濟一差,公司估值趺了,物價不升反趺
) n7 m/ h- _, V$ P; P例如剛才說10蚊的, 趺到得番9蚊, * |" m8 s4 Q  _- d2 x1 H8 k: O
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 Y& p4 k0 n4 M+ j. a2 Y& \所以你就會覺得D錢好似蒸發哂咁+ E. M) z4 z$ |) A: R) ^7 n# X
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你都可以當標野咁諗, 個樣野多人可以狂升值, $ {, U. z3 f; B3 Z; i
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,
4 |2 M- [. x1 R( y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( h" I; C# C1 X& 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# |9 t  j  }) B1 k' @" R( T. P
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
8 X% @& B* ]. a$ Z3 b0 t; q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 J: F& @7 I. M7 [% k5 \" w: K( Z/ X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 Z1 T5 S( s1 ]0 ]
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
" X+ H  q4 f4 H% W咁你話d錢蒸發左去邊? ...

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) J* V% A5 Q5 C正係咁樣
- u6 {' J8 a- j/ G6 J" W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
; e* p% y, M, B% y! d+ Q4 c分分鐘佢地唔使還錢+ H" e1 G9 A0 O! e

6 e8 h0 `( B+ l; G2 t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,
- X8 u3 [5 L/ q; ?連國家都係問人借, 不停發債券, 印鈔票: T5 b) Z4 J6 |2 e
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% v, B/ ?' g& `' l' m, F
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.gif4 n8 @: n( l; O5 @
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...9 l4 X! r/ u9 @! q& q# c! P. Y
因為以前未生產, 先消費
  K$ {# r' D+ y% ~而家就要多生產, 少消費