0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ p" T5 b8 h6 F' }+ B9 W4 s* e
Why bank will sell 借據給第三者???- |. J+ F- X' ?  p
I was so confused.....

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" I5 m1 @) W9 v% `3 M" J講到尾都係賺錢" c( T% V  e  T+ h* P
so銀行可以不斷放款3 R7 W* ]/ x+ v6 z" h( C3 }
美國的房貸問題散佈到全世界/ a( b# O: s) B# p
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mortgage loan & Y' j' A0 Y" x" C5 f4 C* R
>conduit
. |7 E  ^  V6 J4 R>RMBS(Residential Mortgage Backed Securities)+ j& Q% \0 Z. b- p4 C7 d
>arranger6 x$ G$ S4 W- O
>CDO(Collateralized Debt Obligation)
+ I; C/ c" l  G0 S6 W最後去到投資者

Kev

i thought it is the reason of rate of return.4 G4 O0 V! e3 B1 j3 S# D8 i
CDs could have different ratings, AAA -> F,
+ k) x0 R; t7 M9 U- w6 A) [more risky ones would have higher premium (interest rate) as a compensation for an investment.
- Q2 j, G  a- [main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 }% H! F4 B7 E6 E, I
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. p+ z. k* R5 q- q6 d
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 s8 k& M/ d# O5 jsimilar to bonds, CDs trading in the secondary market have different value at different times,/ U" e( |+ X" c
normally the value is calculated by adding it's principle and interest. . O3 c6 ^( A* r5 O3 f$ f
eg. the value of the mortgage+the interests to be recieved in the future. - z  _! j# i: I0 l4 p1 |) \  `
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.7 C+ R0 y+ @$ {3 m4 T" h! m& t, C! R
in stock market, it's the demand and supply pushing the price up/downwards.- i4 a3 F+ y+ v, `1 O3 c7 ]2 Y; O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: S! G: k! W2 ~  O7 e( j2 m: X! h
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 e9 y1 m6 E+ P) ]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.
$ k: U. J( l& Z- h0 S# x- `6 Ebut the value of their assets did really drop significantly.1 M3 I+ l8 y, v( \) L

/ w* k9 O! R$ `! n" N2 y- b, ^$ k, t* J[ 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.gif5 \3 m9 N! r. t7 B, D2 h
Refer to last example,
' A, C2 R, v. @5 {; othat means bank A have no money because we borrow 10 dollars from bank A
9 i9 S5 E; p5 q! D* N( GBecause bank A doesnt have enough cash on hand 3 J6 n0 ?7 S- m6 W
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ M/ P3 L: ?/ P- X% Y
so does it mean if E failed to pay D,
$ U5 ?& D* u2 c8 W' H$ Wall 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, $ k7 ~4 O; M" n0 F% o+ G, W3 u
in this case it doesnt really matter how much money is created, 4 s8 r% z* i3 K# c1 `% n
it's the problem of the debt itself.
2 j8 e( _" y- l# Y' J3 Ythe 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
  J$ [" T& g) x$ K小弟一直都唔明...
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+ |4 r% t0 U0 W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...
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. i  b: ^' ?0 @8 ?1 _" ]敬請各師兄解答
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( P$ M* p) w5 ~( \7 Z8 @& i  kThanks

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那些根本係 紙上財富  
; J8 r0 b! k8 K  a; x9 k9 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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& q9 v- z+ \, T+ |  q3 z5 w1 H( zhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產: \: x; D* u+ b4 S- i+ _; D# y- Z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- K) m) V  h1 [& `) m! H  _
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
4 E+ p% v0 l' n& q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; Q3 W. f( R& x& F5 m* ~( g/ x% F
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 S' X  S5 U" m% N計番回報率就已經係50%,所以可以好好賺  A, E7 a* Z2 {4 U  K* u1 ~7 B
前提係銀行之間要互相信任先可以咁樣借法- ]! J# I7 \1 Z& C' _. }( H( B
同埋個市場既前境要係好先得
8 c! ]2 n7 y/ L2 Z  }0 y# P, B但當經濟一差,公司估值趺了,物價不升反趺! F7 H  x" c3 x8 n
例如剛才說10蚊的, 趺到得番9蚊,
4 C: M, a' ^/ Q# R  y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 g3 d  \5 ^& d, u, E
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,
1 q0 S4 ^3 y+ ^1 a9 A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,
3 j6 n/ _7 u0 p8 n1 Z# t+ Z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + K7 O$ [& [+ Y9 \8 v
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
+ B) b8 \: ]0 O/ h+ x: Q+ C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' j% Y: R; A. z2 j* v2 X5 N
唔係d錢蒸發, 而係比美國佬洗晒未來錢, & P, U4 O3 U6 u8 k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " T+ n4 q! h, t+ [- y$ I
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, c8 K2 C3 l9 m$ L
咁你話d錢蒸發左去邊? ...

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6 ^3 q3 Q2 J" m7 [# s) K正係咁樣" B  \- f4 j2 C- f. z
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
* ~5 c# u0 Y/ j7 ~) e+ X/ x; F分分鐘佢地唔使還錢$ R9 O5 t  A, r5 B0 n

, K: G0 N' u; ^8 x% g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,
3 j" a$ F# A6 S+ F1 u" d  m# g連國家都係問人借, 不停發債券, 印鈔票
/ R3 J( ~4 O) ?' `一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; \. H( }1 W/ r9 g0 J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
7 r3 i2 W: ~1 Y4 M' t& k6 O) X7 U咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
, e6 p" Z4 L4 C0 I因為以前未生產, 先消費/ Y/ y" ^  G, X2 e, _+ t
而家就要多生產, 少消費