0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ f3 y9 Z! f( ?$ a9 e8 ]9 n: H7 ?: Y
Why bank will sell 借據給第三者???/ y; v1 Q* I4 b/ }5 _7 f
I was so confused.....

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! C( Y1 o1 M, U講到尾都係賺錢  B4 c" ~$ z0 }
so銀行可以不斷放款
/ e( l' b. F( K/ u美國的房貸問題散佈到全世界
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% A9 b" [) ~+ u) o# gmortgage loan
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>RMBS(Residential Mortgage Backed Securities)( M8 T. X  C5 U% j- I9 D8 V  ?
>arranger
7 n" ]. A" l+ x3 N$ a0 T>CDO(Collateralized Debt Obligation); v9 ^# Q) V3 S5 ^
最後去到投資者

Kev

i thought it is the reason of rate of return.
* ~4 Q7 ?' t% fCDs could have different ratings, AAA -> F,
& _( |2 ?* I+ p0 F, p9 S4 r7 F0 ]more risky ones would have higher premium (interest rate) as a compensation for an investment.
: K$ m; k( B: b. qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 `9 M2 [% c9 T3 Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 T  c( e% z7 ?0 F$ C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ K, a" P6 f" v! s( V5 esimilar to bonds, CDs trading in the secondary market have different value at different times,; t0 F5 b$ Q$ t3 _4 a1 t
normally the value is calculated by adding it's principle and interest. # C; ?3 l( J  x) o
eg. the value of the mortgage+the interests to be recieved in the future.
5 {$ ?3 l% \! _: ~0 g) dbanks 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.
' F( K$ O. C8 P8 ~. s! gin stock market, it's the demand and supply pushing the price up/downwards.5 `$ W$ A- c  F; G7 C. y% U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 \; t6 N! j5 X8 \, e
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 R& C! L2 z  C' n- q7 ]7 |  IThe 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.
- Z% J$ g5 c, L% Q6 @% Z* H4 Ibut the value of their assets did really drop significantly.
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: t5 L9 Y" `) |9 O[ 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+ Y7 U3 Q* z, Z! X! _& z7 |. g
Refer to last example,8 _0 ]! w2 q+ n2 d
that means bank A have no money because we borrow 10 dollars from bank A ( o6 _  H- {- b" A, t
Because bank A doesnt have enough cash on hand
; [6 H4 ?& f2 [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
, I' L  [% {, h: Z# m! Fso does it mean if E failed to pay D, 0 f* r1 `. L( }2 S$ `& j# |/ [
all the B,C,D,E have to go bankrupt?
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6 `9 H& E2 M1 |( A( gthe multiplier just tell how much money created in a whole economy,
6 \0 i* E; x$ F: B9 S8 rin this case it doesnt really matter how much money is created, ; C) q: `! S8 X$ E0 a5 d3 _
it's the problem of the debt itself.  z2 u7 A# M) x6 ]2 o. p
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
, R0 L$ f3 k& u! @0 D! Q* Z小弟一直都唔明...
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( {& `: p4 u: L" A; j全世界都蝕錢，咁邊個賺緊錢呢?
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0 ]# f! h* y' c無可能淨係有人蝕錢無人賺架嘛...
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7 f8 K8 y6 P' e; K8 M6 V; D敬請各師兄解答
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  X  J) T4 h4 e4 sThanks

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那些根本係 紙上財富  # l6 t. f; P2 U7 q5 s8 z* j
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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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
! l( Z+ e( S% A9 }0 _* m4 P當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ I- l1 Q2 ?# v6 i2 A, i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
( g: y8 d7 F) H/ B, H, Y) B& }個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 @' U& }, S$ [0 g6 M. H" e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ G6 ~, w3 K: L: B7 \" w+ H( E計番回報率就已經係50%,所以可以好好賺
; b5 U5 v3 |8 ?8 K, `前提係銀行之間要互相信任先可以咁樣借法/ K7 |/ r2 B2 a9 S  H
同埋個市場既前境要係好先得  R' J: k" L. `$ |2 Z
但當經濟一差,公司估值趺了,物價不升反趺$ W: ], g- F( X& z- X
例如剛才說10蚊的, 趺到得番9蚊,
7 d0 m" d1 b. v' W% [咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, o$ {2 X+ y' k. {+ M; p$ K
所以你就會覺得D錢好似蒸發哂咁
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. Z7 I" t1 e7 D8 S1 G/ o+ [你都可以當標野咁諗, 個樣野多人可以狂升值, 5 q! ~: g! P4 H2 D  n! \/ C. _( m$ D
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, ) E% C: L6 J1 Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: G% ^. H$ _5 m- 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% u& m, N- b) Q2 r
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
9 S! [* ^6 n& P. B+ w7 g唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 }( H# w0 \% ^( ^( {  m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% N! O% M( Y* T! m! F" @6 G3 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
0 R- i/ K% z( V- C. p咁你話d錢蒸發左去邊? ...

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正係咁樣
4 I, B* [2 D8 C  O5 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
4 P+ |) s/ i2 m+ w1 O分分鐘佢地唔使還錢+ K# [, t4 ]" ?  q9 y1 q$ t  a
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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,
, B' {+ i( o$ G& N連國家都係問人借, 不停發債券, 印鈔票/ t2 M/ y; v8 U: @- P& B
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 d; v3 `2 c3 C9 N! G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; q. c. W) `" J1 a2 k
咁而家"爆哂煲"算唔算先至係變番"正常"???

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( o7 `3 ?( n/ A# V其實係...( u* O% M, e0 z# j) c3 N
因為以前未生產, 先消費4 c1 ?1 X6 {5 v3 ]- D
而家就要多生產, 少消費