0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- Y9 P0 i; {' |4 q
Why bank will sell 借據給第三者???
' D# L: c2 E/ z, MI was so confused.....

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講到尾都係賺錢
2 |0 P, B4 b8 `$ zso銀行可以不斷放款* ?, |0 @1 e- z
美國的房貸問題散佈到全世界
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mortgage loan % O' `$ F- f! u! d2 U  g' T+ _" P/ w
>conduit5 J( T' z; D1 _
>RMBS(Residential Mortgage Backed Securities)& D1 W3 ]/ h; `4 t
>arranger
% U, R  S9 Z9 g! i>CDO(Collateralized Debt Obligation)( n5 w) v0 p2 [" h4 s6 z0 T
最後去到投資者

Kev

i thought it is the reason of rate of return.7 \: P0 A( \4 w' ~: X, [0 O& k
CDs could have different ratings, AAA -> F,
5 U1 l5 T; P+ s6 E* ?more risky ones would have higher premium (interest rate) as a compensation for an investment.! @- n# e7 U4 u- l7 c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 z- o( N2 x4 s8 p1 ]5 M/ |, q) D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; @7 F7 Q  \2 e7 i; C) [
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- w* P4 ]( \/ a( r* |; o2 _
similar to bonds, CDs trading in the secondary market have different value at different times,1 d) p( B2 ?' c4 _5 P
normally the value is calculated by adding it's principle and interest. # O2 K' D" X. d% V1 c0 D3 x1 S" O
eg. the value of the mortgage+the interests to be recieved in the future.
: m" q" Y+ \+ o2 Ibanks 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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4 S2 @% B5 X/ D- eim not quite sure if the multiplier effect does really matter in this case.3 B9 n4 j3 t0 l3 S) x% c7 b
in stock market, it's the demand and supply pushing the price up/downwards.
) j$ i/ J9 F9 v- LFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ x5 k' [7 z# L2 l6 A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- O) j0 |! B- Z2 m. U  b3 zThe 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.
. t4 w" C: L+ z& xbut the value of their assets did really drop significantly.8 t3 y4 u5 I) t

% A6 I& C9 \2 F[ 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
$ t9 x% [# w/ m& z8 TRefer to last example,; M2 {9 {3 {3 O/ c; ]
that means bank A have no money because we borrow 10 dollars from bank A
! t, {% [  |0 `" G/ g) Z: k$ pBecause bank A doesnt have enough cash on hand . I$ Y. A- y  s  B. P$ O- f! g1 r; j
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 E6 Q: n, D  j6 ^, i3 W
so does it mean if E failed to pay D,
# k" C8 e: N( Z( I) W+ Z! g: v+ B# pall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
$ V3 e' b6 G  R5 A7 Oin this case it doesnt really matter how much money is created,
0 W  `: _& B% T9 @it's the problem of the debt itself.0 e* k$ K9 r! v! R9 h
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
$ r& G$ N; ~: `1 m% }7 |小弟一直都唔明...
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0 Z' Y6 c4 B+ k+ C/ z, H全世界都蝕錢，咁邊個賺緊錢呢?- R* n8 Y" z0 L3 y

9 D5 c/ S8 a9 G8 `7 z0 r( B無可能淨係有人蝕錢無人賺架嘛...
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! W* K/ W* W; K$ J* u- k敬請各師兄解答
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0 W* V- Y8 U" W& {, v7 kThanks

- I& V2 N2 I2 p1 D# c那些根本係 紙上財富  0 b% W, R* `- t% K0 @
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, }; Z8 ?3 L. {2 b" A, v: ?
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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" m3 h3 s% X) A% P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* O# ]( e* u6 f$ E8 z
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
# Z* @9 h' m" E2 h/ N& H; p個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: X# |1 j. z2 T; O1 a; c扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 u" T3 K: w. b& J: K9 w8 R  A計番回報率就已經係50%,所以可以好好賺
2 d+ _% {3 e8 }7 I) }/ G* C前提係銀行之間要互相信任先可以咁樣借法
* F2 v4 M% x# x4 t, T  d同埋個市場既前境要係好先得
/ }2 I6 l  _, [5 `  M' T, e但當經濟一差,公司估值趺了,物價不升反趺
% h2 G4 i$ R. [例如剛才說10蚊的, 趺到得番9蚊, , b- S* i0 ^2 c6 u- z9 k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 q* h5 x+ C8 x6 Q5 `9 \5 w! H1 A% I
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,   q7 {  E3 j' a- }" h
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, # z7 g5 u* y" I, t8 m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ @0 t+ k# [) d; {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( M; y( v6 d& x+ I. d! c; D. N
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
& }, Y5 h4 s7 `唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ m; k# i+ x: D& ^" Z9 P/ h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 B: m5 r6 v- t/ x1 M& y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 Y0 ?6 D, D# E$ J% B
咁你話d錢蒸發左去邊? ...

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正係咁樣
& S+ B, _# C2 E* k% d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
9 P/ v1 A! R1 ?( A6 d( 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,
, @" c! r  K# H# P1 J( N. c連國家都係問人借, 不停發債券, 印鈔票" j% M9 D/ I% u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 M4 g, p) z% ~+ C
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
3 R* l3 z6 {$ ~  i咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 |: w, x2 ?# A其實係..., k! H7 x  s- t- r- ~5 y: N
因為以前未生產, 先消費# s+ C( ^& H9 }& j+ }4 u
而家就要多生產, 少消費