0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ [. n7 _7 |9 m# f7 Y' l- r; u$ nWhy bank will sell 借據給第三者???
, |) `& k- H; K! _I was so confused.....

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講到尾都係賺錢$ m0 P+ @/ J4 f" `! O- x
so銀行可以不斷放款
/ }0 p% Z) H) F5 f$ o美國的房貸問題散佈到全世界
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" S; q* N( U' Z  P5 ?3 j# Emortgage loan
) F3 f% m  G' K: l>conduit9 ~9 b! [2 V; D' q5 D/ {- B4 _6 o
>RMBS(Residential Mortgage Backed Securities): G/ e6 F8 ^7 z# m6 M4 e
>arranger4 b2 ]9 s9 c0 V( e% o
>CDO(Collateralized Debt Obligation)% a5 Y  _2 y* `9 D7 G% Q" a" f
最後去到投資者

Kev

i thought it is the reason of rate of return." x( l: D' c+ X' e1 |. c/ K" \
CDs could have different ratings, AAA -> F,9 y$ O, R0 _" C% _* @+ [
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 J! K1 `! L" mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; p* l: ?9 K7 _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; k! H& A4 i2 Q' D6 `
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  [" n" S% U( ?2 U) B( X
similar to bonds, CDs trading in the secondary market have different value at different times,0 s5 F" V! n" W
normally the value is calculated by adding it's principle and interest. " F9 B( B) r/ p* f
eg. the value of the mortgage+the interests to be recieved in the future. 8 F0 w  z) S6 P3 A
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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9 O6 U. C, L! X! v  eim not quite sure if the multiplier effect does really matter in this case.
0 R  w' W7 l$ L; F8 D: Min stock market, it's the demand and supply pushing the price up/downwards.
' ~5 X- `8 i# nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 V" h3 n/ A8 P5 J6 NA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# G* K) E; r$ P/ C  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. + d6 v, b$ s' p/ v; G9 e
but the value of their assets did really drop significantly.3 G$ l, @- Q: a" ]( m( @

8 w  j: i# }! c, j, P. ~[ 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.gif4 ~% ]2 }* c! z) F% c# r' h2 s
Refer to last example,$ H" z8 S, X% {; Q& ~  R
that means bank A have no money because we borrow 10 dollars from bank A
6 F9 j. }4 Q3 k2 y  T3 e! C0 k; iBecause bank A doesnt have enough cash on hand # |# m6 N: w5 u4 H  S. l) C; _8 K) ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
  ]0 _( u3 [0 x0 {$ ^9 vso does it mean if E failed to pay D, 1 O$ S6 X& D8 k7 C9 F/ c5 d, N
all the B,C,D,E have to go bankrupt?
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+ X2 X% p( u7 ?  M, @the multiplier just tell how much money created in a whole economy, " w4 M' t  F4 K2 q
in this case it doesnt really matter how much money is created, * i+ h( T6 p2 G4 M& Y4 k5 T
it's the problem of the debt itself.  t  C: z$ X4 {; K1 [
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.gif2 a! x) z" T0 z/ M3 V% M2 Y
小弟一直都唔明...
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$ _+ p' e4 b/ Y& M; K! f全世界都蝕錢，咁邊個賺緊錢呢?8 c1 m) o3 ^: A: \, _% j5 m1 q
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無可能淨係有人蝕錢無人賺架嘛...
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8 j. {# l# r6 l( Y) B0 O2 m敬請各師兄解答2 C0 S& B8 n8 r) z5 L4 `
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Thanks

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那些根本係 紙上財富  2 W/ ?9 t0 o: n2 C# v$ \( 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+ Z6 ^3 M& n2 I( s

8 @, P+ y6 L6 @2 |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
. v' p$ _' a) ~' \0 s4 @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: }0 I7 F( B% }* x6 x; E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
5 D6 P. Y0 ?( @  `9 g個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 n4 Q' ?8 M- Q, t. b: M( v扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 E8 p2 ^; z8 c計番回報率就已經係50%,所以可以好好賺  V. y& \6 {1 e9 ^4 ]( F9 D0 k# ~2 m
前提係銀行之間要互相信任先可以咁樣借法! t4 V4 {; n; b
同埋個市場既前境要係好先得( u+ [0 g/ s0 ?3 R% J) G
但當經濟一差,公司估值趺了,物價不升反趺* O, @+ o5 d6 _# E4 E8 z
例如剛才說10蚊的, 趺到得番9蚊,
- ?. `2 j$ ]# f& L# a( l- z5 V咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* `" u/ t" P% p# ~. ?, g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, 2 X- T* m! ~# I% p
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,
: g2 Y$ t  m# v0 I- h# U' k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 G( b/ a* @( G3 z: M: 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
. a* p* o4 w( j5 T/ 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.gif8 `# L' K0 a" j  y/ j8 t9 V
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - F1 x! f9 z9 r6 |' O8 S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 }( k9 g8 {- L& f0 R8 u3 E6 u6 ]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$ z2 w/ p( N2 H
咁你話d錢蒸發左去邊? ...

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正係咁樣
! Q# f+ y5 g. t1 b! L6 P2 I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# {6 H! F: l. w# }! p
分分鐘佢地唔使還錢
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1 B# u9 e9 t* X* e( j& ^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,/ |. N. b* b# T( K0 _
連國家都係問人借, 不停發債券, 印鈔票
" H' J$ o$ C6 h1 }- u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  h8 x, s: _* `# ^, q. Y) v: |5 ^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! \  Z% S/ {- t% w
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 [  H) k! `) r9 f; U因為以前未生產, 先消費+ ^4 q' L9 _% J0 R) }
而家就要多生產, 少消費