0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& @3 S( `5 E& ^1 a* N6 L: N
Why bank will sell 借據給第三者???
+ [! ^9 s& P9 W- E. cI was so confused.....

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講到尾都係賺錢$ f$ ?, u3 H: A
so銀行可以不斷放款
& Y# T4 |9 J; W: U美國的房貸問題散佈到全世界
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# p) h- q  s  fmortgage loan
1 p: ~7 G' r% l% \>conduit
5 W  a  h9 \, Z+ t" p5 V1 L& D>RMBS(Residential Mortgage Backed Securities)
4 |' C4 ?$ V9 S, A# P>arranger
/ T$ Q9 x- L, i. n>CDO(Collateralized Debt Obligation), B! o" @; b! W
最後去到投資者

Kev

i thought it is the reason of rate of return.. j# S3 G2 h2 N6 j
CDs could have different ratings, AAA -> F,
4 p& @" X: E+ B+ Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.. [1 R4 K3 }0 D) ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, U9 y) t0 `6 q
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) N! U; I: R4 s. U$ G8 p. b: wAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 K" V8 \( N# E9 _: D. I
similar to bonds, CDs trading in the secondary market have different value at different times,
$ ^8 D5 m. [) y" c- f; x1 tnormally the value is calculated by adding it's principle and interest. 6 U" a3 V9 G8 n
eg. the value of the mortgage+the interests to be recieved in the future.
9 {- W- [5 |- }3 Kbanks 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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2 l4 C0 L" U+ Tim not quite sure if the multiplier effect does really matter in this case.
3 j+ v/ R  V- o1 L) pin stock market, it's the demand and supply pushing the price up/downwards.' c# l; v+ ^8 u) q* _  ?
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ [6 Y5 c- S3 P( IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; S+ @7 `* S4 F% E
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.
% ?  g! L! L- E* n$ U6 tbut 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
4 n4 }0 ?8 T* q4 M9 u0 @Refer to last example,3 O; l' G& N( O1 D% l
that means bank A have no money because we borrow 10 dollars from bank A
8 ~% f6 [% H3 T- s9 nBecause bank A doesnt have enough cash on hand
9 D7 ^7 v7 T% ?therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( [% W/ B& C/ X6 ~* PA->B->C->D->E. z9 ?/ d. I0 L0 E
so does it mean if E failed to pay D, 4 S" E( G- O+ Q- c; @) X$ f! K+ c
all the B,C,D,E have to go bankrupt?1 i+ h# y1 G7 \; R
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the multiplier just tell how much money created in a whole economy,
7 P8 Q0 j1 `$ @: `' [% j: V- lin this case it doesnt really matter how much money is created,
# Z7 }" c) j, u+ w" Q) |  Tit's the problem of the debt itself.
8 @- x3 o% |9 r6 u2 Mthe 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.gif4 P% c2 x5 Y0 a4 f) [7 `
小弟一直都唔明...
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3 Q5 l, v8 }3 k3 G5 Q9 S全世界都蝕錢，咁邊個賺緊錢呢?1 J2 r3 P4 n& Q6 _' }$ g/ T

, x5 R8 _/ B9 I; p無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks

, ]/ C, H8 D. e( h. Z那些根本係 紙上財富  
/ A$ M! s6 s, Y: ~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 M3 m) R2 b* T/ c" {8 F* u& {

; M8 w  Y- Y/ c  f5 a5 d2 @4 W6 c6 bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 F) S: M, r0 t, i+ A1 d- O當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; c2 N( A+ Q( R4 x( l' j# `
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* x% L% O  K& o- Y, A% N7 t- V. `
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 z9 M$ F" p9 l2 K0 N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: A3 P9 u/ }* H( Y" ]  y計番回報率就已經係50%,所以可以好好賺0 z6 q9 A3 W; Q- ?
前提係銀行之間要互相信任先可以咁樣借法
/ d. w* P7 A) w/ U8 w* b9 M* t3 v同埋個市場既前境要係好先得
) P, I* c9 ^( Y/ H) ?但當經濟一差,公司估值趺了,物價不升反趺
0 y3 J* p' \% M6 i7 g$ `! t8 A8 ~例如剛才說10蚊的, 趺到得番9蚊,
/ l8 `# l& C1 g4 _咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ S8 }; }. W- Y9 a0 z
所以你就會覺得D錢好似蒸發哂咁
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" U  |9 ^7 x4 I. X' k你都可以當標野咁諗, 個樣野多人可以狂升值,
, _8 `1 k' {# ]! j( M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, 9 M- R9 O: U# o5 I1 q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * A! n( y/ i5 g' y. n
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
. M* S0 t# f9 J; W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
) P' b* T# q$ S3 d  e. O唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# k  G7 Q9 y! i4 {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 h' R+ q% k  w# @9 W% h* q% ?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, f/ `7 N, o% z
咁你話d錢蒸發左去邊? ...

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正係咁樣
$ |4 Q# P( W# V: ]; C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( y( A* E; y/ C) f3 B% M
分分鐘佢地唔使還錢
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; W' O/ ]6 x# f2 r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 v7 |3 p( @; E' h) @連國家都係問人借, 不停發債券, 印鈔票: U. i# _* m, e6 p) g
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 A5 Z9 {- X' K! z1 C
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.gif9 A% ?0 g( t, B4 |
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...- [: i/ X" H8 u  z4 S+ f
因為以前未生產, 先消費/ t+ g* C! n( [8 S9 S
而家就要多生產, 少消費