0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# u+ ~, g, v( }+ l: X8 K
Why bank will sell 借據給第三者???
, J( j, z2 }5 }" F0 E* XI was so confused.....

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講到尾都係賺錢! s* X( t/ h1 H- n! y4 l9 K
so銀行可以不斷放款, M# c9 ]$ F) I9 Y
美國的房貸問題散佈到全世界
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mortgage loan , X$ n7 Y$ E8 C( N2 V; e: T
>conduit" j% v; @, X2 j* m% V6 ~( X6 l
>RMBS(Residential Mortgage Backed Securities), C: B1 w# Z( P- y: G! v, m$ V/ S
>arranger9 r) O1 h" S) ]) C$ M8 J
>CDO(Collateralized Debt Obligation)$ @1 J6 }% ?2 X9 \7 |2 ^5 q
最後去到投資者

Kev

i thought it is the reason of rate of return.
* o. I" V2 _/ G4 lCDs could have different ratings, AAA -> F,
; f7 a9 g/ G' P8 i$ @7 h/ zmore risky ones would have higher premium (interest rate) as a compensation for an investment.
( z# c+ u- n+ fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. r0 v' ^) w) y7 B$ p
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  B2 Z8 l" S. f, s# x9 rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# U6 `" p; v3 i$ Asimilar to bonds, CDs trading in the secondary market have different value at different times,
7 B3 ^7 b( C4 r* {normally the value is calculated by adding it's principle and interest. 5 v; {5 P5 q) E
eg. the value of the mortgage+the interests to be recieved in the future.
& b& ]2 q! y: }" g4 @$ r3 Cbanks 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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/ S9 U# C2 V- Z, t& him not quite sure if the multiplier effect does really matter in this case.
: E) B+ r" j7 r$ I4 s6 ein stock market, it's the demand and supply pushing the price up/downwards.
5 d) G( L1 z/ B* R3 lFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  B3 m" G  A: u  Z- P9 C7 U: G
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 i7 M/ A: `; 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.
; r. [% l& y6 F5 o2 |1 ybut the value of their assets did really drop significantly.
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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
6 [9 U9 L+ L# zRefer to last example,5 ^' [4 X) p: z9 V9 Q; V6 E
that means bank A have no money because we borrow 10 dollars from bank A
/ @4 s& N: c9 m: GBecause bank A doesnt have enough cash on hand
& l* e& u5 x) G0 m9 v) \+ otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 Q6 K1 X3 N- G% j# _; @) r2 XA->B->C->D->E
# z" l9 a! F0 d6 c6 _% iso does it mean if E failed to pay D,
, x4 G$ P7 U7 Q8 A( k+ ~all the B,C,D,E have to go bankrupt?
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! O3 @% G" \. a5 E' {+ S+ T4 othe multiplier just tell how much money created in a whole economy, ; y0 s7 I3 w# {5 `( q, `) D- @/ T7 R1 m
in this case it doesnt really matter how much money is created, , ]8 k/ W* S' s0 J, J+ o; ~" y
it's the problem of the debt itself.  c4 k5 q$ I2 y' v6 D' L$ s
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.gif6 ^, C" P& g1 m7 f, {) Z
小弟一直都唔明...
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$ ~& ~/ D3 F. U- C全世界都蝕錢，咁邊個賺緊錢呢?5 `: Y8 l2 ?  j8 f7 H. [$ A: ]4 W
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答  W1 \  ~; s1 l8 b; z0 J
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Thanks

/ w1 Y6 B' W- U2 h9 Y2 e那些根本係 紙上財富  
" y5 g8 K7 S  e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  S6 q. B/ I' i" P+ C
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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
9 H, Q& X( o' k當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ l2 q6 `. r7 H) R3 h7 |! H0 ~' x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
$ x" W1 R& q0 L+ M4 L8 h) m個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ q- c$ A6 }* _; L- i" h" K7 g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
* {" W/ n" y4 A5 ^2 |. h4 M計番回報率就已經係50%,所以可以好好賺
: x0 s8 L6 `) }8 s前提係銀行之間要互相信任先可以咁樣借法
: ~8 Q- J2 u5 m9 N2 L& I& w同埋個市場既前境要係好先得
# c" Z$ n5 F" r9 H* u9 g, T但當經濟一差,公司估值趺了,物價不升反趺5 i: j$ }# o. q
例如剛才說10蚊的, 趺到得番9蚊, - e! a5 z8 i* x2 r' b0 i
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ v+ M9 V% ~, f6 n* a* c9 Z
所以你就會覺得D錢好似蒸發哂咁: A2 q  n! q+ d/ O9 r% n# s* B

' ]" ~& k3 G4 z0 `/ K" d2 ], s( B你都可以當標野咁諗, 個樣野多人可以狂升值, 3 @# y5 ?1 \" M* V' t+ }5 I
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,
; x& P8 I9 p; \- {% b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- {8 b, y2 v: p# s) E% ^3 M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
1 @1 p* Q3 S) \& ~) f$ i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
% E6 J/ f' @; e) |唔係d錢蒸發, 而係比美國佬洗晒未來錢, & B  k4 x1 O8 A/ G( \8 L
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) {" q$ V- ~- z% F
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
( j+ c4 j2 P4 q咁你話d錢蒸發左去邊? ...

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7 g/ D0 `3 ^- }7 T% z! M; {& p正係咁樣4 k0 ?: ?2 f% P( p; Q
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
0 g) ?2 ^* T& {" G分分鐘佢地唔使還錢
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, s3 i' F) ~4 ]7 W0 F/ j: m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,0 V, P* v+ b8 E2 k8 A9 X
連國家都係問人借, 不停發債券, 印鈔票
' {: f* J3 P7 J8 b+ y: z! t& |& X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, V* n, y6 L7 r# S* ]/ y  m
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
7 b9 {/ _) [1 I  c. g7 e9 a! Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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8 a* s5 p# g1 U1 A" S! k其實係...
) D8 j( s2 ^* Q% Y" b因為以前未生產, 先消費
. P' ^6 l+ S% Q& f而家就要多生產, 少消費