0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 E9 C% j. T+ G# \
Why bank will sell 借據給第三者???
+ Z+ M& G' D; k8 F9 rI was so confused.....

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0 g# p4 Z: h/ j9 M講到尾都係賺錢
* ~" ~* O3 A9 qso銀行可以不斷放款
( E1 z4 Q. h, _( {  g' I9 a美國的房貸問題散佈到全世界5 h7 H$ g1 T: `; j8 s

6 B. F+ H4 \6 Q+ i8 }/ |: umortgage loan
' M+ T3 i: X* {>conduit9 I7 S, X/ q! g, x) }4 B  R1 T3 M
>RMBS(Residential Mortgage Backed Securities)
! H+ b; O+ H3 \1 {* `>arranger
7 s# p7 @) U/ {$ }" D>CDO(Collateralized Debt Obligation)
$ e$ D0 r8 Q  ~$ M7 ], n最後去到投資者

Kev

i thought it is the reason of rate of return.- M! n" B' ^( \' Q7 n. l5 ?( M
CDs could have different ratings, AAA -> F,
: O! l1 \$ j) ?7 b6 B5 D* umore risky ones would have higher premium (interest rate) as a compensation for an investment.0 e4 ~! Q7 E9 U: F
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- _5 q, v/ k2 L' Y- \6 P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ [( \( H1 b3 L& I9 {7 l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& A7 t8 i. L; U6 K) _. Hsimilar to bonds, CDs trading in the secondary market have different value at different times,; _$ I7 T! y! e/ r' _/ o
normally the value is calculated by adding it's principle and interest. + A0 F# u7 f9 @! X
eg. the value of the mortgage+the interests to be recieved in the future. + D: g: W! ^7 h" q
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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, v3 F4 S2 @% ^* u/ qim not quite sure if the multiplier effect does really matter in this case.% r- }7 C0 e1 B5 w0 h$ o
in stock market, it's the demand and supply pushing the price up/downwards.+ C( S' O" p" w( |( D; N' a% f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ E/ J- e. t  Q& }9 b. vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! _0 r. o# {7 h: S
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.
, m& }( o4 v; f+ T; H+ Q/ `/ I0 Zbut the value of their assets did really drop significantly.7 f# O) ~; s3 _9 e3 q
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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
* E) a- j9 M% ~* j( {/ ~4 HRefer to last example,
4 T' L% Y/ K! i. u7 T$ P  \that means bank A have no money because we borrow 10 dollars from bank A ' ^8 b1 d$ h. B; ]4 R' i8 u
Because bank A doesnt have enough cash on hand 3 Y9 d( ^" _% b. R
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# t; j6 @& r8 i$ x# gA->B->C->D->E
2 k) t" ~% t- }! Jso does it mean if E failed to pay D, 0 g3 e2 H4 x- q; [, d
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,
) F8 z7 G( j; tin this case it doesnt really matter how much money is created,
) U# V& W' c. y' P8 J# ~it's the problem of the debt itself., c0 j3 p9 Z* R6 X, `8 C. V! B( t0 ]  H4 t
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
; E. C7 F) }* `9 ~小弟一直都唔明...( [8 H6 o4 u& [8 ]( K- u, f1 M4 m
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全世界都蝕錢，咁邊個賺緊錢呢?4 P' ~7 {. h' u# E3 U' e
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無可能淨係有人蝕錢無人賺架嘛...
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' N+ g; O7 a5 B8 h; Y0 t. y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  
5 l+ a5 x" i, i8 E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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3 }; B$ R2 s# B, y* ^7 Qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ T. j$ e) p% ?* c7 b( s
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 R8 o! x8 Z  r" k  p' C
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
/ W' T& p7 B+ i) q5 O9 [' L個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& H  r" U8 i: r5 d: U扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  v. ~+ C- T& v' s4 G6 ]8 v1 `0 T計番回報率就已經係50%,所以可以好好賺
) @$ b- t! u0 ~) ~前提係銀行之間要互相信任先可以咁樣借法
. s  {7 A) X/ @2 B同埋個市場既前境要係好先得3 s  P$ C( i1 r, e" e
但當經濟一差,公司估值趺了,物價不升反趺  A) m: `/ j( `: n! K! h& V
例如剛才說10蚊的, 趺到得番9蚊, , g; a2 ?; J3 y* G7 `, r$ B
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 L0 d, Q1 G4 Q. |
所以你就會覺得D錢好似蒸發哂咁
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9 w( h) W: l: V0 ]* K, X( x你都可以當標野咁諗, 個樣野多人可以狂升值, % n& [# X% J" _. Q
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, 0 k2 P! i' X' \( @- D8 O5 z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' H5 Q: f# v) g! D
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: U7 f3 }6 G8 j8 s
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) q$ G, w3 p0 c* G# ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& w- [0 U; t6 A" D- p4 r, q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 p" n- B2 p3 ^/ \
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
$ d+ C0 u! K5 ]7 b7 @9 E咁你話d錢蒸發左去邊? ...

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正係咁樣8 D$ A- _. ]1 A% d
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& W% l  g. |1 e* U( W# y
分分鐘佢地唔使還錢
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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,
% p( {* Z# K+ f: Q* H8 |連國家都係問人借, 不停發債券, 印鈔票
" s  X$ S# M9 Z# B一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! i9 w0 H" D$ l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
: m" n3 o$ o- s0 ], Y$ k: w/ f0 h咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 V. A# r/ o: N1 ~其實係.... A8 N- o) p% P0 ]
因為以前未生產, 先消費  o/ _; Y4 G5 B8 _
而家就要多生產, 少消費