0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& p0 D8 ~2 o* L9 N5 T+ q; R
Why bank will sell 借據給第三者???
( a6 ^7 \9 W1 `I was so confused.....

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講到尾都係賺錢! j: T. d# _' }" r' @$ F4 U5 d
so銀行可以不斷放款
" i+ {9 M: g( B! e美國的房貸問題散佈到全世界4 L7 Y! U2 k/ k) {

% k) |' _; m$ b0 L5 g: d! tmortgage loan
3 N( i  D( |6 K. S" ?4 s' Z, M>conduit
- ~3 q/ [1 l, s; }>RMBS(Residential Mortgage Backed Securities)% @" ?  ^/ M4 Y1 e) j! b+ b1 B
>arranger
. V& {+ |  d  S9 o>CDO(Collateralized Debt Obligation)) T+ i3 @1 u) D4 K; U3 u
最後去到投資者

Kev

i thought it is the reason of rate of return.9 B& n8 r9 f* @
CDs could have different ratings, AAA -> F,& x$ p) m2 a; R
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. |5 v" r# Q2 k' Z" `' mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& H: H0 ~9 x7 z- ^: n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 p- ?& }) ?4 `( n/ L
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 p+ @9 S& _5 _
similar to bonds, CDs trading in the secondary market have different value at different times," R; i/ w8 E9 H+ C; Z
normally the value is calculated by adding it's principle and interest.
" D* h! }# }' u% leg. the value of the mortgage+the interests to be recieved in the future. 0 F: b9 A! z) P$ r5 \, @7 L0 m# m
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.( A$ `' d3 f4 @! e/ H% W$ S7 `
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im not quite sure if the multiplier effect does really matter in this case.
. l1 ?% k- A: h( i0 c3 b% l( }9 |& ain stock market, it's the demand and supply pushing the price up/downwards.6 _  c) z: ^2 l) V2 y2 J+ J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ q- {/ N4 n7 O: ?: F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! ~- \" X8 I: j( K# @+ R
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 v7 f* \9 u. [) Ibut the value of their assets did really drop significantly." c; Y8 V6 d5 M# u! Q+ x
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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! y1 |: L; ^# R3 [% D& z
Refer to last example,# F) R4 e) r9 w% ~4 {( i  r4 U
that means bank A have no money because we borrow 10 dollars from bank A * B! W4 k; J* h
Because bank A doesnt have enough cash on hand
6 G8 R( ]) Y1 \# _+ D5 A# D, ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 h0 u$ O: i+ u7 [7 B- kA->B->C->D->E! q5 g7 g( S! Q) {) \! M. t4 f: v
so does it mean if E failed to pay D, & @. B( o% t6 J0 J* h$ p
all the B,C,D,E have to go bankrupt?4 e# S  P( y5 n0 o

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$ H4 o7 A" n' othe multiplier just tell how much money created in a whole economy,
+ @( p( U' _* k3 uin this case it doesnt really matter how much money is created, ) i: J6 L# v  r9 ~2 p( S2 i/ M* q. \1 v
it's the problem of the debt itself.
! E" e/ J! L% g$ y9 dthe 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
3 G% L& F1 h# l- }小弟一直都唔明...: u! u% k  L4 E- q% K/ y% V

7 W2 a- s3 K5 q5 {! I& h3 m! Z8 k全世界都蝕錢，咁邊個賺緊錢呢?
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. K" C1 s* @: t無可能淨係有人蝕錢無人賺架嘛...4 o: l+ D2 U( Q8 @

/ C7 j) X( T8 O8 c敬請各師兄解答
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3 R# r1 Y. ]( O; n. w8 Q6 h8 EThanks

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那些根本係 紙上財富  
2 z. s/ Z2 q$ G. h+ G4 W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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0 ~. s& D( X1 Z6 G( h: l6 v7 a0 rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產. G8 n& L' `. H' K+ W7 t, j5 a
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 K/ t4 o3 m& z- b% W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) w4 e! _, t5 U) i0 \
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 h# t: s; S% ]7 c9 d0 Z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 n% L. Z' `. e2 c2 A5 l4 T
計番回報率就已經係50%,所以可以好好賺
3 u4 P& \7 _# q+ V" N前提係銀行之間要互相信任先可以咁樣借法
5 g0 t( Q1 s8 R3 U7 [% W! `同埋個市場既前境要係好先得8 N* R- M$ @! u# ^* b7 N: b
但當經濟一差,公司估值趺了,物價不升反趺
. H2 S  t, R% a7 h. O9 g% ~例如剛才說10蚊的, 趺到得番9蚊,
8 p. _7 }7 e! c& d/ l咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  s. D. n" ?. M2 t! W# q4 ^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,
3 @7 @9 _! _1 l3 @3 K$ V, e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,
: V" _! q. z) n8 _0 _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 A$ N+ H# l% E2 G0 \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1 J( @9 o6 r/ @7 {1 G
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/ i+ o& O- D/ U2 |$ S6 T4 p( j
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 C  w+ @3 R4 {$ h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! k/ j; ?+ s9 ?* N0 E: Q# \: a
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* ?0 ~3 r9 n( A2 H
咁你話d錢蒸發左去邊? ...

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' D2 X8 J  d+ b正係咁樣0 ^6 H6 _* I! f/ C4 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
- x1 y* h( j; A2 Z分分鐘佢地唔使還錢
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) T2 M- l& o% G! m8 @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,8 k9 V6 G" n4 `) L4 n: [8 K
連國家都係問人借, 不停發債券, 印鈔票1 r9 x. t2 P' D, a9 Y/ ?
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" d- I" E  K3 I  i6 P: z+ q4 j* 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.gif
' M; E% R$ j  u咁而家"爆哂煲"算唔算先至係變番"正常"???

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# B9 q- I+ |; ~其實係...3 R0 g% N5 ]4 a' M8 Z
因為以前未生產, 先消費, r7 p8 R9 q( _9 A4 E3 f
而家就要多生產, 少消費