0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ V% M( n% K1 E* j- d0 C; j
Why bank will sell 借據給第三者???" z4 M1 E9 _1 z
I was so confused.....

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講到尾都係賺錢
& D0 ]9 s$ ]- H6 Dso銀行可以不斷放款
4 ?, S( {* q3 d5 L# l) i& e* Z美國的房貸問題散佈到全世界
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mortgage loan 0 @# z6 v: P* i& W0 W4 j$ }
>conduit
; G/ k# y4 o9 c>RMBS(Residential Mortgage Backed Securities)
4 F1 G- R* _( ]; l7 s>arranger
  y# C/ H/ ~1 F9 G2 [6 V! j>CDO(Collateralized Debt Obligation)4 X- q7 J+ ?2 o6 F& Y
最後去到投資者

Kev

i thought it is the reason of rate of return.; u3 X, S. C5 q% ~$ r% Z; }
CDs could have different ratings, AAA -> F,
- u; r. D8 o, v) Jmore risky ones would have higher premium (interest rate) as a compensation for an investment.  T/ |( x5 l4 V5 {/ D6 y1 L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* ^" ^. a3 j- D, v" b/ t
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; Q; G7 k1 y$ H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* M& ]7 h  `( {. P+ ssimilar to bonds, CDs trading in the secondary market have different value at different times,
( g- y0 Q' Z$ Z, P+ |' Fnormally the value is calculated by adding it's principle and interest. 8 j* j8 M/ x. S: `# {/ @
eg. the value of the mortgage+the interests to be recieved in the future. . U- J8 K! a$ w! d
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.! h( ?4 n0 I! G2 d

& l; I2 `' f  [5 X* }  H0 M" e9 {' gim not quite sure if the multiplier effect does really matter in this case.1 D% t- Z$ g3 r/ w9 w: U
in stock market, it's the demand and supply pushing the price up/downwards.
9 l9 v/ T) \! S! E$ RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- Q- o* F" z+ o+ w. j: i
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ ]  ?2 @4 Z* V0 h! c6 a% Y+ C9 x
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 N4 @# i, o0 f, Xbut the value of their assets did really drop significantly.
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, P5 {3 k' m9 w5 f[ 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
7 \5 Q1 W& r- Y$ g0 k7 t4 E% wRefer to last example,3 R% C8 b7 p* W* Y# t8 A: v9 j
that means bank A have no money because we borrow 10 dollars from bank A
% M* U/ v9 x) VBecause bank A doesnt have enough cash on hand
1 N6 ]& P/ Q; r8 H% Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 |( J# ~8 H' ]8 oA->B->C->D->E
( S0 i7 I7 ~7 ^: C* ]' i9 v/ Xso does it mean if E failed to pay D, , q7 ^" i9 D% O0 Z4 h! Z
all 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,
( q2 S! K  q. v  Y. Y  ^in this case it doesnt really matter how much money is created,
! _6 h" K5 ~" n- i" l4 vit's the problem of the debt itself.
% e+ p& V, d: b2 |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; y- ?$ V; I- d+ x
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?$ d8 g- r& I: ]8 Q  V

% w: v! \; r) g" J7 Z0 A% @無可能淨係有人蝕錢無人賺架嘛...3 M) l/ O& I8 j7 z

7 F  Z& e  Y& N. ^# g# J& L4 k敬請各師兄解答
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Thanks

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那些根本係 紙上財富  + d6 ^7 D& v- e# r/ M) ^* S) k
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 graphic8 n2 |3 {. z- Z
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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
/ d2 N; \1 t2 Q/ X當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 Z- V" k9 F0 X0 z. W) Y
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2 p" {% g3 X9 A3 j
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 l% y) R, R0 B5 u2 t& P, _扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: Z9 D9 I" [0 p6 q' s# L, ?5 C
計番回報率就已經係50%,所以可以好好賺# v! V4 U+ Q, V! z  m% R
前提係銀行之間要互相信任先可以咁樣借法% z; Y( o7 V! f- X8 o# e2 y
同埋個市場既前境要係好先得( C( R* q  P& J* J" w
但當經濟一差,公司估值趺了,物價不升反趺
$ I! {5 ~- X+ P( F! _5 y例如剛才說10蚊的, 趺到得番9蚊, ! b: }# g8 G: g4 B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# ~! R+ e/ L# I/ F6 P所以你就會覺得D錢好似蒸發哂咁& i7 k: S7 |1 ~+ V) e& w
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你都可以當標野咁諗, 個樣野多人可以狂升值,
% p3 y2 F4 k, `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,
8 k2 H/ ^( L  V6 A2 C$ J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 f( T. v4 Q: H7 {: t6 u
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
/ s$ {) _6 t4 y! \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
+ @" M8 G2 ]1 E+ a3 h唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 H* B2 n5 e8 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ X- Y. s8 ]+ g0 X, |4 J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
* R  I: J% h4 T* Z) Q9 [3 P% i咁你話d錢蒸發左去邊? ...

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正係咁樣
+ ^% W# n* Q5 U4 F3 n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
4 r& X# Q" x+ q% ^- s. R6 p分分鐘佢地唔使還錢
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7 Z6 a( f) L! W) b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," _& s7 E, Y* S
連國家都係問人借, 不停發債券, 印鈔票7 l+ g# o8 r) {$ m9 }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" d8 s0 _9 Q  S& m& {, M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* G8 N- ?+ E$ a# Q4 f3 C2 a
咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 p0 O1 l: y; E$ J+ u其實係...
5 K7 j  k( \  D+ [因為以前未生產, 先消費
4 ^1 x9 |8 p" a6 `5 n. S而家就要多生產, 少消費