0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 W$ k* ~4 B/ u3 @# w
Why bank will sell 借據給第三者???
" Y# c3 P! _5 h% {, Z3 a0 QI was so confused.....

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! y4 m8 y( E5 n9 s講到尾都係賺錢/ }( r! T8 \% w, o3 P- P
so銀行可以不斷放款
; ~9 k5 X# i  P- c0 ~7 k美國的房貸問題散佈到全世界( y: L# W% ^' A! e  h
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
* ^1 W( ~% ?1 C8 A5 n5 m/ k>arranger4 s- S4 |  Q2 ]* c* v/ j
>CDO(Collateralized Debt Obligation)
; G# D! u- F: P& q/ m0 \1 O. p5 O" ~最後去到投資者

Kev

i thought it is the reason of rate of return.
5 g7 U6 O- {. m, L6 ~2 K% ^2 j' iCDs could have different ratings, AAA -> F,1 v  D- l7 s  g6 \
more risky ones would have higher premium (interest rate) as a compensation for an investment.
: A/ v' k% Z9 E/ m. Cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' s! y! @. r0 u5 q4 _in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." g1 ?, n* W9 |" q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! _8 C; D5 {% F" J% E' k1 z$ G+ p
similar to bonds, CDs trading in the secondary market have different value at different times,
' c& _0 u1 J! K! x* p- Qnormally the value is calculated by adding it's principle and interest. ; A7 W& d4 i3 z# I3 C4 l
eg. the value of the mortgage+the interests to be recieved in the future. . \6 u1 H  u' ~  U, i# t/ ~# g
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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! c8 H) H5 t# r$ l' y6 ?& s  sim not quite sure if the multiplier effect does really matter in this case.) G! g7 ]# e; ]9 D! Z7 j
in stock market, it's the demand and supply pushing the price up/downwards.6 v: u. y( C. a9 t6 b- L1 e
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ q5 B& k' U9 @5 lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 U  t6 |! }. l6 v2 v1 M. CThe 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.   A, g7 G# k+ m( P3 g
but the value of their assets did really drop significantly.9 W6 {* L- r1 Y3 K# g& [" T
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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
0 m, U! T; n( n& ARefer to last example,
5 j! t3 @7 b3 p4 P8 Tthat means bank A have no money because we borrow 10 dollars from bank A 6 ]$ o5 n5 B% p, Q  q
Because bank A doesnt have enough cash on hand * ~, Q) V# [3 i& ^# n6 |/ J9 _
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' G. ?- \7 U( l0 h. F/ \3 {0 Q( W. eA->B->C->D->E
/ X/ g% B- i' ?2 mso does it mean if E failed to pay D,
& k, f/ T1 T! K) eall the B,C,D,E have to go bankrupt?
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7 x) @. Y) \, a" n1 o8 d* k3 Bthe multiplier just tell how much money created in a whole economy,
6 N7 Y7 ]- Q* R: ^* p( H, @* bin this case it doesnt really matter how much money is created, 1 z; @; h+ I  C: m* d6 C
it's the problem of the debt itself.
/ G% y1 l% c4 i) ]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.gif9 @; O2 A- Z) }0 i" y( v
小弟一直都唔明...
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4 x3 L3 w: z/ M7 o: K$ r全世界都蝕錢，咁邊個賺緊錢呢?% c% i4 m. |1 E" r8 P
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無可能淨係有人蝕錢無人賺架嘛...
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5 P8 `! t7 x9 }4 I2 O敬請各師兄解答- Q( l# `! I: T7 ?& S8 J2 c" t

% K! L. k* @+ G' lThanks

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那些根本係 紙上財富  , w4 E. v: g# K, f  \! C3 o; x3 |
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" j" u) I- [. A. p2 T" @1 U
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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 i' Q( P# t% ^* ]' L- d
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* p9 H+ Z* f5 i  ^, d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 @& S1 ?9 {( {% s$ g4 ^$ F& V/ L$ r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; ?2 Z( X& @9 c5 ], Z/ D) d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 m3 o" J& y( }+ h. m
計番回報率就已經係50%,所以可以好好賺
- t7 y' H5 \& ?; Z. T前提係銀行之間要互相信任先可以咁樣借法- |/ r! U5 I* A$ W( T
同埋個市場既前境要係好先得/ y6 K5 v' c! s" J
但當經濟一差,公司估值趺了,物價不升反趺, A7 m8 o/ p$ o- q- X
例如剛才說10蚊的, 趺到得番9蚊, ) f9 N3 W4 }* }: x/ ?# x
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ f1 ]) O, q" A1 |3 q4 G" C所以你就會覺得D錢好似蒸發哂咁* U1 \% ^* f" F' J; j7 [5 m' a
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你都可以當標野咁諗, 個樣野多人可以狂升值,
4 h" d3 F4 c9 ^5 j7 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,
$ m. ]4 ]* l- M5 X' j3 M! l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  f: r9 k! v, V* g7 F- e2 E0 O5 f' 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
, r! i7 H) W3 Q2 a) E8 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
" h5 I/ N6 N4 W2 e4 ?唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" w4 q8 B, k, r: Y( G2 q( w- |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 x. P1 F' E( o+ 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
2 a  ?  M% C9 q- K  l$ k/ t咁你話d錢蒸發左去邊? ...

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正係咁樣5 H% K" r+ ]& H, ]5 \. o; f
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
. }  O- J  e4 R分分鐘佢地唔使還錢
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  ]) w4 C$ N# k% @4 m8 X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,
. l, {/ T* q- ?/ K( I; S連國家都係問人借, 不停發債券, 印鈔票
- y, n9 m, H% N3 R一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: x" C7 S2 L) u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
5 u5 p$ t+ b+ }% m* Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
5 j, |4 {" H8 d. j因為以前未生產, 先消費
5 U# f( {$ |! G  J而家就要多生產, 少消費