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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# ~: S. K! y% T* R% a- C
Why bank will sell 借據給第三者???. j/ \  G6 N' C& L
I was so confused.....

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6 D1 H! t. f7 z, S6 D# ]& f2 X7 `講到尾都係賺錢
$ k6 X, P2 r) X1 |: H" cso銀行可以不斷放款
7 L% j6 ~: `# j) e5 u, ?美國的房貸問題散佈到全世界/ b2 t' }5 [3 \9 ]7 R& V
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)$ ^" J6 O3 ~9 n% \* n. V
>arranger. B0 s' |+ x' M  w6 c( [
>CDO(Collateralized Debt Obligation)
+ Z4 t/ v  `* ?# J9 E最後去到投資者

Kev

i thought it is the reason of rate of return.. }7 b; z1 v; b9 h
CDs could have different ratings, AAA -> F,/ b# S! m2 R7 ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 ^# t0 X1 a% p6 g9 p) ?. y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," ?9 E: j0 D: X* @9 ?, d' q3 B( k
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 I# C, |% b% s* k
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 y9 c0 o8 \. B" {. q: V8 M8 {0 u& tsimilar to bonds, CDs trading in the secondary market have different value at different times,& U  O9 }- }! P, M" A5 Q
normally the value is calculated by adding it's principle and interest.
$ n, m' J6 {1 h/ E2 s# \' r4 }eg. the value of the mortgage+the interests to be recieved in the future.
9 U: Q  ~2 Q# z- e. Z# I+ [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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. [: R, z8 C8 o5 q3 _1 W2 him not quite sure if the multiplier effect does really matter in this case.
# S( x  s* }9 `+ y2 Y( x  oin stock market, it's the demand and supply pushing the price up/downwards.
7 ^# N* u3 S1 O" R) e# WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 Q% U; I3 N" A1 r) o4 r7 {% ~& \
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* r/ E+ ^8 D' zThe 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 T, U' y; Z, n0 d  @( [% l
but 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; H7 [- A0 L: a
Refer to last example,! n. t- B8 t$ z  n) s
that means bank A have no money because we borrow 10 dollars from bank A
- t6 m% r9 ?2 W$ {0 }Because bank A doesnt have enough cash on hand
7 o& r8 v; C( I/ G: n( Z; Y! xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% m- a, m# B- m6 B
so does it mean if E failed to pay D, 1 h/ P7 c( \* I: b* A
all the B,C,D,E have to go bankrupt?) k' l+ S/ J* F' v: j% I7 _
0 z7 s2 B; u$ J2 l  T4 i* I

, X  K  B/ o0 C" Qthe multiplier just tell how much money created in a whole economy,
! Y" G8 V! \6 V% e6 C/ N9 j! [: Rin this case it doesnt really matter how much money is created, , A6 U7 \- {, ^  g+ s+ F, [) }! h9 Q
it's the problem of the debt itself.* }7 ~0 D, M/ ?8 e
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  V( ^' k4 x3 |/ l
小弟一直都唔明...' @  g" Q( O- I: _1 c" q5 H

( }+ m& A2 w# J& w4 b. I, ^8 I全世界都蝕錢，咁邊個賺緊錢呢?& h- b0 g3 R7 D" B8 u
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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5 P) C/ y8 \& L2 N; O% M+ W
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Thanks

$ Q7 G) h' F- {9 `/ Y那些根本係 紙上財富  
% b" i2 G) T. w' G; m! [. r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 graphic6 t) v( K$ c2 p
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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
. y6 s6 H7 |' s) t) V( M當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ ?/ o7 |9 i) Z. g% 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# d& B+ V2 @7 C$ v( w! g$ p$ O
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ x2 |& b  h. c1 {& U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% j2 g% ~/ r) R  J$ C6 M$ |計番回報率就已經係50%,所以可以好好賺9 s" W1 c+ X5 t; ?
前提係銀行之間要互相信任先可以咁樣借法
2 l0 R7 x. e$ p# @1 G同埋個市場既前境要係好先得2 n* Z  Z8 D9 h" v/ Y/ f# d
但當經濟一差,公司估值趺了,物價不升反趺
2 R3 t0 x3 w: o9 g  |/ ?例如剛才說10蚊的, 趺到得番9蚊, ( I9 ^; S% e$ ~0 L& X: d
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& V' o: Y, M2 {9 H
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,
' I# ~2 E5 y# h- c1 Z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,
" I0 h# X4 {# R9 N+ a1 t6 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 a) `% ]1 x! s3 p
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
$ G3 b) z8 V8 Q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.gif6 I9 X( {' r3 l1 K, S) R
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 I' t: k  m) `$ B! s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # Q6 i4 W  k9 Y4 f/ ~) H
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+ J' O% |5 j/ t# g0 B& s
咁你話d錢蒸發左去邊? ...

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' C# g6 w" ]6 k9 F2 V正係咁樣, }5 R1 }- C, G% W& l7 O
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; g7 n; z, l8 n1 [: l
分分鐘佢地唔使還錢- U4 L/ p* ?' n; }8 |% C- 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,
! Q! }7 d; J7 ]3 K2 G. V- M連國家都係問人借, 不停發債券, 印鈔票" `+ p. U0 W6 {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, I) m4 K: B% y
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 e. Z& Z$ O& v咁而家"爆哂煲"算唔算先至係變番"正常"???

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; g- E; O2 p* i9 {其實係..., V/ _/ v- }# c, g
因為以前未生產, 先消費0 y) q9 r$ M$ `2 t
而家就要多生產, 少消費