0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 W( H$ j! ]! o. F7 vWhy bank will sell 借據給第三者???
0 |, X! m4 J( h/ K0 W" h, R9 ]5 {I was so confused.....

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! F1 R4 P6 u3 l( L$ q- B! X- u講到尾都係賺錢6 t3 r# E* X, s" `# O
so銀行可以不斷放款% j# G! J4 T8 c3 x0 z8 H7 M2 j# |
美國的房貸問題散佈到全世界
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mortgage loan
: T6 I/ b1 q/ _2 E$ J>conduit
6 F  |+ c- [% i. C1 l4 h+ B>RMBS(Residential Mortgage Backed Securities)3 X, S) k/ W4 q9 y8 _
>arranger' Q+ X% K$ R- P5 d$ n! U& p/ B7 H0 e
>CDO(Collateralized Debt Obligation)' H7 k6 ^5 A. W
最後去到投資者

Kev

i thought it is the reason of rate of return.* `9 _# ?& N$ l% M/ p) _. F
CDs could have different ratings, AAA -> F,
& X1 Y# ?- d9 w) V+ n0 lmore risky ones would have higher premium (interest rate) as a compensation for an investment.# D/ Y% V% ~# ^. ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 I* n5 `' l0 D- A; D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ C% o) C  R% k" b6 T
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ v  g; }% e" _3 E+ s! U
similar to bonds, CDs trading in the secondary market have different value at different times,
8 _( T- w/ d' E8 t7 O( Z& Nnormally the value is calculated by adding it's principle and interest.
" Z1 z- l$ J" V7 h6 m0 Meg. the value of the mortgage+the interests to be recieved in the future.
+ |" S+ A7 X$ `0 O, l1 i& K' Fbanks 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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im not quite sure if the multiplier effect does really matter in this case.0 _6 ?( J" _* E0 I/ U
in stock market, it's the demand and supply pushing the price up/downwards.9 K" B% k& J' a6 |/ T, w! a+ `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( [9 w- q! |$ Q0 fA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! K4 s* {9 |6 P" N2 b
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 A! y# u& i0 N' d
but the value of their assets did really drop significantly.4 J6 H  J4 @9 p$ y- i9 g

0 G& Y& n7 ?7 u[ 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
& d9 Z$ g1 S% H6 ERefer to last example,
2 a, W. H/ x# fthat means bank A have no money because we borrow 10 dollars from bank A 8 n) r, p$ }+ s
Because bank A doesnt have enough cash on hand # c' K5 X2 v: w" Q, L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 C+ p, u  Z, T: `; Z2 p
so does it mean if E failed to pay D,
0 `8 K* r, K9 a6 B6 tall the B,C,D,E have to go bankrupt?
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9 [) z! p& G  Y
the multiplier just tell how much money created in a whole economy, 0 ?4 i$ a, A7 I
in this case it doesnt really matter how much money is created, , L$ w4 O) s  d1 g  z6 N6 X
it's the problem of the debt itself.& R% S% J( g( H" b3 b( X/ E2 ?
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
% m6 U- V5 ~+ e" ]9 x% [( T1 a小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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# u! z* c& [& [+ p敬請各師兄解答
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1 ]0 F0 O- C7 k. PThanks

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那些根本係 紙上財富  
7 M6 f9 z) \" S/ 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 graphic2 w+ r6 m0 U  I
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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
2 K0 W( C& I6 A3 q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% W8 E$ C$ K( h4 t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
; ?3 {( N, b1 Q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 R1 D% D4 w- `/ j- A* n
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' x; U; ]5 g% y2 _
計番回報率就已經係50%,所以可以好好賺: u' L" }/ D7 m" \8 R$ d
前提係銀行之間要互相信任先可以咁樣借法1 Y) ?( O9 `* k$ r
同埋個市場既前境要係好先得0 {" A6 z* S8 I+ A7 y
但當經濟一差,公司估值趺了,物價不升反趺
; s$ |7 f* v" J9 |6 Q) T6 D! k例如剛才說10蚊的, 趺到得番9蚊,
" D- V6 K% P/ A2 q$ y. I$ y. r: i' F) y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 n/ {, p  a4 t0 m! l! L所以你就會覺得D錢好似蒸發哂咁
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9 h5 R/ T  R! M你都可以當標野咁諗, 個樣野多人可以狂升值, 0 C' x( E% G; A: Z) X% |, j
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, ; r0 [$ C4 ~- F- E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 g: P- b) V% T  x3 H5 J3 [5 U, G' v
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 _- `/ y5 g- A) g8 n2 u$ u
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, ]* r+ b: f( k$ l8 n
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% J: n, R; J9 ^$ i4 E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- q  X8 o" B. 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; k9 _& W/ I4 A. c; ^) A' Q: N
咁你話d錢蒸發左去邊? ...

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; j# a. h" y$ P# X* ]4 L  S) d正係咁樣* P6 D( B! t6 ]& T
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
7 n5 K, o0 L2 @分分鐘佢地唔使還錢
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, D! X! E1 w3 y; e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,
6 q7 P3 F; G  }" B7 y* i& c, O' t/ q連國家都係問人借, 不停發債券, 印鈔票. M& {* K1 B* l4 p1 `2 C) \( t6 \
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: y, y7 _% k; B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" A8 U/ O! D- _3 G  [6 B3 t1 _1 r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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) {9 w% v' S) Y* g% T其實係...
$ n% G; f4 H+ p! r2 L. d因為以前未生產, 先消費! L, M$ ~5 a/ i) E
而家就要多生產, 少消費