0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  V. G, R; Y! Q: T! r
Why bank will sell 借據給第三者???+ M2 M! O- l4 B2 ?' z  ~5 A
I was so confused.....

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. r2 g* E: D. `5 p. c- z講到尾都係賺錢' v' Z. \- l) t
so銀行可以不斷放款
$ o' g1 r4 j0 A美國的房貸問題散佈到全世界  z) A, n# ]) q8 z5 R% b' n
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mortgage loan
# Y$ S& r+ R- P' M6 T>conduit
" f2 h. N- y0 Y; U2 [6 G0 |) F>RMBS(Residential Mortgage Backed Securities); C- r* D% F% t8 x) d3 _
>arranger! I9 Z6 {: G! [8 U* \% O
>CDO(Collateralized Debt Obligation)( N5 w- `" H8 @1 l- G) U: A
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ B/ y! T! r1 a* m3 M  M) sCDs could have different ratings, AAA -> F,
* k/ e- w& I1 C* Amore risky ones would have higher premium (interest rate) as a compensation for an investment.
( \1 Y# w( e% `7 Xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 a! m. A, v* q( ]( g' Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 w1 H+ I1 M* `( |/ E2 x$ m9 Y2 BAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  ^! O* {7 O$ Q' O! C0 T+ Nsimilar to bonds, CDs trading in the secondary market have different value at different times,, C( F! X7 N9 l7 ?2 H! w% N
normally the value is calculated by adding it's principle and interest.
0 ]" J" ?  R; h4 m+ Y+ a2 i5 X- Weg. the value of the mortgage+the interests to be recieved in the future.
, v, n) R; o/ G- C3 h, 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.. k- X5 p# ~$ {
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im not quite sure if the multiplier effect does really matter in this case.
- G0 L' W9 I; t* }, G  [in stock market, it's the demand and supply pushing the price up/downwards.
1 g2 l( ^9 e5 {6 G! a8 xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) h  p+ R3 Y. \A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ h! A' a+ |. Z# L# F. W) @
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.
% b6 d$ d! A2 |- g. r; t% hbut the value of their assets did really drop significantly.
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/ N8 t' ^* \$ @3 j/ K[ 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% h8 q, p+ z% s' v- m0 K  B2 k* ~7 j! f
Refer to last example,: \5 F. z: `4 l6 f
that means bank A have no money because we borrow 10 dollars from bank A
9 x4 o3 L' L# N1 A: M% Y' DBecause bank A doesnt have enough cash on hand
2 v' M$ }; `9 Rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 [  h3 ?# [' `0 OA->B->C->D->E# c) w/ K+ p& O: T3 g5 w' n
so does it mean if E failed to pay D,
9 c/ q  {) G6 S' {all the B,C,D,E have to go bankrupt?% |% W% O8 ?* p7 n9 e
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the multiplier just tell how much money created in a whole economy, : H& ^; o: {) b9 x$ K
in this case it doesnt really matter how much money is created, / t, g. Y7 S4 M; q
it's the problem of the debt itself.
" j( }- A, p$ o$ |2 r! e, fthe 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
$ u- K7 Q# a2 }0 C0 C5 C+ {小弟一直都唔明...9 ?$ N% ^" k/ |

6 ]4 l6 o. {, J/ v  p; @: c& {全世界都蝕錢，咁邊個賺緊錢呢?, F" r# f- r8 G" X) v
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無可能淨係有人蝕錢無人賺架嘛...% W9 A: B  t7 \

7 q3 t7 c9 M0 t4 ?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 D# d0 m! o, v: P9 ^; s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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' |' S$ B1 z% ]- l1 E' A( Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產* K2 j6 G: G8 Z0 c, w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 _0 C  Z. F9 p+ O0 V; V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
4 {) z! V  Y+ l6 B個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 P& I) `% u2 ~! }. T1 a4 E8 d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- Q! I3 M, U/ g! `! t/ _0 Y4 I. c
計番回報率就已經係50%,所以可以好好賺
8 ?( O1 K( ?" Y9 @* k前提係銀行之間要互相信任先可以咁樣借法
2 Y% g4 {6 j$ G6 r' |0 L1 T( q  _同埋個市場既前境要係好先得
/ k4 H6 m0 F6 }5 X# j6 c. @) B但當經濟一差,公司估值趺了,物價不升反趺
4 F3 D+ }& P6 Q% [) m' b# X例如剛才說10蚊的, 趺到得番9蚊, 9 ^4 t" G. |$ ~/ e8 }% w& q; X" X
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
/ s! F1 s! J( J9 C6 k所以你就會覺得D錢好似蒸發哂咁# o" H5 Y  V' D. C
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你都可以當標野咁諗, 個樣野多人可以狂升值,
8 c# S3 e9 h( ^+ J7 O1 P$ Y  R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, 4 ]. c/ L# K' v4 }" z& A* r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 i. p+ F4 v! a5 c! }; x
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
8 z; W+ H% m2 b4 b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
. ]' b; F; x/ N2 @9 }唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 T7 d7 j, y  r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' c  w* [6 q2 U$ M" i: T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: j2 w  g; {% |! [, L- W3 d/ q
咁你話d錢蒸發左去邊? ...

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正係咁樣) z1 A5 a$ _. D8 l% z
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
1 H: X( `0 h& G; W$ N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) p/ @' Z! o8 n7 Z
連國家都係問人借, 不停發債券, 印鈔票
. ]3 t% S/ F$ U一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" A4 V7 g# _# z' P3 L& w
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- P1 t" A' P' V4 {1 h/ f
咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 Q/ _* ^! m+ N4 }8 m% c其實係...! o; K$ W/ J5 y1 K  s% E- \
因為以前未生產, 先消費
: q1 u0 e& `. j: c2 l: M而家就要多生產, 少消費