0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 p* j' G2 J% n
Why bank will sell 借據給第三者???
0 A5 A' o1 U7 c& P4 t: b% yI was so confused.....

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講到尾都係賺錢
% L, O4 u) ]( o  I, tso銀行可以不斷放款  {8 S' K; Q2 Y. d, W  _
美國的房貸問題散佈到全世界
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mortgage loan
6 Q! a, y- ^; A% T( J>conduit4 }- D+ a& W/ C2 _4 e
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)$ A* m3 t# U& C# Z8 N& q
最後去到投資者

Kev

i thought it is the reason of rate of return.
  s8 s8 I1 V! Q, G8 r4 {# [; gCDs could have different ratings, AAA -> F,
* f. [& ^4 \( Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.0 {% `; J0 j% s9 h( R5 d% o' {  ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ P& Z7 I$ d7 _8 I- y0 m0 b0 kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ e: m4 Z: t- c
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ _! x3 E; V  s7 F( p
similar to bonds, CDs trading in the secondary market have different value at different times,& s* }0 q; p  g7 j+ W" M& s
normally the value is calculated by adding it's principle and interest. 1 A+ I# B4 D8 ~0 D
eg. the value of the mortgage+the interests to be recieved in the future.
$ N6 L* F: y) O" X4 C* n! obanks 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.$ U! i$ r! v$ [0 V
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im not quite sure if the multiplier effect does really matter in this case.% Y! i5 U9 j6 y7 k$ `% b3 }* x
in stock market, it's the demand and supply pushing the price up/downwards.7 @; ^# u8 I, Y. t, H/ [, i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 b  p4 d0 K2 iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 R' d* |; {) [; G: o' \
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.
5 r8 t; A  N: I$ t" t$ M  j! ~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
" x) L& O$ @! \# @0 bRefer to last example,
8 k/ a/ U! f2 j0 vthat means bank A have no money because we borrow 10 dollars from bank A
; \& c" T$ V0 b8 t( UBecause bank A doesnt have enough cash on hand $ o; n7 [" x: ]- h5 F) k# a+ F! e, K1 ^
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E. l$ K9 m; P+ u* x
so does it mean if E failed to pay D,
7 j3 B0 e9 A3 s/ @& Nall the B,C,D,E have to go bankrupt?( c9 r+ U3 n& h3 P2 l; p
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the multiplier just tell how much money created in a whole economy, 6 Q5 @) S0 H& N! u
in this case it doesnt really matter how much money is created,
: S8 @8 V2 p# }1 c" m4 Tit's the problem of the debt itself.
9 r, n! q$ O  X' i. f6 n2 `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
; ^: P: F- r) J) @7 o" L, }9 g小弟一直都唔明...0 v! H% R& ~, h3 ]: N& y* ]
# |, X) O$ F6 l5 w3 g9 Z/ s
全世界都蝕錢，咁邊個賺緊錢呢?$ `9 T* P+ M' ]8 m8 o' y$ i* u  P  }9 Y
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無可能淨係有人蝕錢無人賺架嘛...
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: A8 ^7 q/ G9 W. H- ]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  
% L' C1 ^* L+ ?' j  f" B: 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& q" s+ M, t4 y3 g0 Y  m9 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0 H+ Q* Q- h4 K& N
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- x3 D1 O1 g( R# C7 K; Z$ [' T- o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
# H! m$ _' C" t! V& J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ R5 b" i6 N' R8 I: h; W; e' g# w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; u8 ?! w5 X/ r/ C. L- ~! H
計番回報率就已經係50%,所以可以好好賺* {9 o, ?6 S& W9 [  m4 s: ^
前提係銀行之間要互相信任先可以咁樣借法4 _/ u, |* r* d/ [3 g5 O  B1 s  k
同埋個市場既前境要係好先得% `4 T& ?) J& L
但當經濟一差,公司估值趺了,物價不升反趺, U0 g9 I* Z8 R: t
例如剛才說10蚊的, 趺到得番9蚊,
  t% J. g9 `( I9 V; J' O# f咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 p6 Q* l- k0 D
所以你就會覺得D錢好似蒸發哂咁# L7 D) \/ s- @' @) T6 R( w0 ^* d* _

' x6 g- z2 E& J% W# }$ n" b你都可以當標野咁諗, 個樣野多人可以狂升值,
5 U  A* a5 [: c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,
$ N! j) p# v$ A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 s, C  M  r3 X& ?# w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
9 X+ X. v0 s) N& V( O" I5 x3 V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
! L4 l2 @1 K; L/ e2 }唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  w4 g5 F0 [( D* l: K  Y# q" f' k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 T2 K# o/ c: a2 x( `$ y3 X* k4 L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+ e$ R% A* r1 O) D& h. u
咁你話d錢蒸發左去邊? ...

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. f; r! |2 B: i$ `" g8 j正係咁樣
% m- x2 O9 q, z$ T2 r" g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
9 g) \2 E0 e# P分分鐘佢地唔使還錢  y4 Y( ~8 f  Q0 o' J
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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,- t- U  j9 D$ S: q* f" q* M" o
連國家都係問人借, 不停發債券, 印鈔票) p4 x0 [0 p: o( I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 l, p7 L( J0 L, v, h
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.gif3 D( s. l( C  Y5 o/ R6 h
咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 U$ P$ N" ?4 Z: x# e; x其實係...2 W- e8 V1 f! l
因為以前未生產, 先消費
  b. w- ~0 c6 }( L% z( G而家就要多生產, 少消費