0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' t1 W. L! o0 c0 t
Why bank will sell 借據給第三者???
  v% d' _: I9 u, p! V, O  _I was so confused.....

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講到尾都係賺錢
9 e5 s3 B) H6 A# [/ i( Zso銀行可以不斷放款
7 D3 y* p2 e/ |2 t$ m美國的房貸問題散佈到全世界
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mortgage loan ' D7 t' |( m( Q( n) c" x3 W
>conduit
2 A, M/ W( ?6 K1 q  i/ B>RMBS(Residential Mortgage Backed Securities)
8 E/ a3 v. {0 f8 s- J5 Y% A>arranger
5 |# `! p* _. _3 S% H>CDO(Collateralized Debt Obligation)
2 x7 j' l; @8 E, E& u) g; N, R最後去到投資者

Kev

i thought it is the reason of rate of return.5 H7 M5 P$ z' ^  M( m4 T
CDs could have different ratings, AAA -> F,
/ q3 {- Q- J8 X5 Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
0 b' S/ O* D& X8 q2 ?: n: Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 J; J, ^4 l6 w6 I: B1 u- ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 c& m& {' S* P0 yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! a9 R+ l* @% G$ S. u+ s% A/ z& Isimilar to bonds, CDs trading in the secondary market have different value at different times,
& K/ g/ l# j$ h, Hnormally the value is calculated by adding it's principle and interest.
0 \& X* N/ k0 N1 M. c9 }eg. the value of the mortgage+the interests to be recieved in the future. 0 t8 z( O, |2 L& S
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.  M; ?: `: B8 [* I% c8 W

% @- e/ U2 m/ H3 Aim not quite sure if the multiplier effect does really matter in this case.
7 t5 ~5 o4 Q5 A) \in stock market, it's the demand and supply pushing the price up/downwards.6 W# j) m& O/ U% @9 q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, F: I1 H" f2 V8 W7 t! x( Q( OA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. u. \) G+ S6 z
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.
) j5 B. S( _' N( h8 Y4 Ibut the value of their assets did really drop significantly.
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, P. x5 R$ ^- x4 W5 r. L- `[ 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
8 H+ n0 }; f; J2 E6 D& l1 IRefer to last example,1 f1 n8 P3 R) d6 m9 S; w9 O
that means bank A have no money because we borrow 10 dollars from bank A
% A3 d5 z/ ]8 \; `, ABecause bank A doesnt have enough cash on hand - O. M# [6 z/ l0 M6 a
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E& R' g- g; x' v9 r
so does it mean if E failed to pay D, ( E! K# A% n9 r5 G
all the B,C,D,E have to go bankrupt?1 E/ Z# R/ U* w
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the multiplier just tell how much money created in a whole economy,
* R  S& i8 t2 Q8 din this case it doesnt really matter how much money is created, 9 Q; G, ~/ g- n  {0 a/ y5 g
it's the problem of the debt itself.
( {9 d3 }, ]: X1 c. V3 Bthe 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( J  [+ a6 Q: ?) j8 _
小弟一直都唔明...( W* E1 Z9 G) D; `

6 T/ O. R* I2 V$ |' A/ m全世界都蝕錢，咁邊個賺緊錢呢?: o2 D3 j' i* H! e/ {7 m
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無可能淨係有人蝕錢無人賺架嘛.../ O3 @$ N3 n8 ]: d/ Q- l" o
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敬請各師兄解答
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5 m. k2 c/ x" q* G8 e8 UThanks

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那些根本係 紙上財富  
; _: J6 G* i6 |% o; u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
4 H6 r4 B9 f1 V2 `: E0 b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 _- a2 e8 }! P; T. H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
. M1 V( [$ y8 U; P  R/ `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 r0 x" b: W8 y8 H: z. \
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 n. f3 I9 z9 G
計番回報率就已經係50%,所以可以好好賺
& M: R# _- i- S9 v* @1 D前提係銀行之間要互相信任先可以咁樣借法
1 j7 C- @* Q/ Y  {. m9 F# m同埋個市場既前境要係好先得
: K: V7 m1 [6 s0 B6 ^+ O, J4 Q但當經濟一差,公司估值趺了,物價不升反趺* J' C/ a" E8 k# a5 Q
例如剛才說10蚊的, 趺到得番9蚊,
7 a" C1 L7 y( _  x3 x7 E/ Q$ V咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 }- L, [/ B' _所以你就會覺得D錢好似蒸發哂咁7 u% A: ?- [. N; d% C! E
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你都可以當標野咁諗, 個樣野多人可以狂升值, 6 S) Z- R) B; J1 N. Z
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, & ^% N$ E. x, @8 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / E' @* E( i* m. |$ Z0 }. D0 W. I
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
' L6 y) @/ }! D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 J: U/ d* ]$ Q3 A9 p0 v
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 @' q- g- t' U1 Q; r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 R# Z, D9 Z$ d- W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 P& \9 J; T! V1 _
咁你話d錢蒸發左去邊? ...

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; H0 d5 O6 Z, F( W! N8 Y& g正係咁樣
9 M% H* v$ J9 `: y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
3 e% `! t5 C! G, p分分鐘佢地唔使還錢7 Y* y% q. F; V2 t& G

/ j; m6 C+ Y2 f0 k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,
  i1 v5 V; ^" i+ x1 r! }連國家都係問人借, 不停發債券, 印鈔票
, w! O8 I% A9 h( @一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 w& a! V3 U* p: n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
* C( d+ x! k( v' H咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 b  t. a& l/ \9 ^其實係.../ F/ r- G0 n8 X; T
因為以前未生產, 先消費
. ]8 l0 c) d  {* S$ {而家就要多生產, 少消費