0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 f% V& j- ]- h" |! e
Why bank will sell 借據給第三者???
% p) F! j( ^8 p6 Q; W! `I was so confused.....

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- l% o. O) [% Y* r; h講到尾都係賺錢9 c( `6 q1 _" L! y. g5 y" `& n
so銀行可以不斷放款
1 W" N/ _& k: y# r* A/ {: n" J) J美國的房貸問題散佈到全世界' B& @& ~! U$ Y4 _$ A  S- K2 h6 |
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mortgage loan ; P$ h1 P4 \$ V0 T& }3 x
>conduit, H' I! {% F- I- e0 H! E
>RMBS(Residential Mortgage Backed Securities)3 Z$ ?/ R. U/ ?% x& E
>arranger
: j: S, l2 x# `0 [>CDO(Collateralized Debt Obligation)% ~( U' c; O/ c$ a0 N  M5 ?9 F
最後去到投資者

Kev

i thought it is the reason of rate of return.  Z0 V" X' B* @# b8 y0 K% v
CDs could have different ratings, AAA -> F,
  z. f8 B, Q- H, ?5 E6 u0 Z( emore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 n0 J* _9 E9 P0 T( o: Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: ~+ V, H7 z2 t) M0 \, B
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ ~0 {) ?( K5 J' O2 [0 W9 Q$ sAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) {" F6 j+ E# L/ t
similar to bonds, CDs trading in the secondary market have different value at different times,
" ?1 m: ]) L4 [" ~( s/ Fnormally the value is calculated by adding it's principle and interest. ; a' N, C0 G: X+ v. {$ e3 b% z* w
eg. the value of the mortgage+the interests to be recieved in the future.
0 Q% f& y. g/ ~7 s7 Nbanks 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.( U+ K( C( v& ?+ a4 d

" Z1 j! y0 Q# t, i3 I8 v* f! a; I2 Mim not quite sure if the multiplier effect does really matter in this case." I. _: O; n0 ^* ]5 j- U. a
in stock market, it's the demand and supply pushing the price up/downwards.
. m: k: e# d. q# ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! S+ |* {+ g5 I; a1 B; T/ Y. Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( Y$ ?+ \% p; C5 M. I5 E
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.
4 K9 ], |) q# g" ?8 S/ v& Ubut the value of their assets did really drop significantly.$ \6 v" W; J$ v+ j& V
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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! N  g2 h. N. g0 b3 g4 a! \
Refer to last example,/ D" h% U; K. d6 D" W- B9 {
that means bank A have no money because we borrow 10 dollars from bank A 4 |& |+ n# L/ b" h. |* i% D
Because bank A doesnt have enough cash on hand ! X. \# Z- `! v  x4 d) F  X$ w
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' S# m, d7 C+ ^6 DA->B->C->D->E! p/ J- m# a8 U* d6 f/ ^
so does it mean if E failed to pay D, 5 @, b  N3 l. _# q# g
all the B,C,D,E have to go bankrupt?
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8 q1 S% @) f( M/ P" U9 Ythe multiplier just tell how much money created in a whole economy,
/ R" y; [) w! F( }' F: Nin this case it doesnt really matter how much money is created, 5 t3 D5 s8 a; ~" m8 c
it's the problem of the debt itself.
' c, F1 L  @0 x8 {% P5 Xthe 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
! }' V! j$ k, a# x4 p% T+ l9 U小弟一直都唔明.... _+ R( s* i5 @4 c9 v
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全世界都蝕錢，咁邊個賺緊錢呢?$ E( P* l9 r% d) h/ {

0 ]" k6 @$ h! x( p1 ?0 G無可能淨係有人蝕錢無人賺架嘛...# H: A5 e$ D% c7 K2 w8 C
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敬請各師兄解答
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Thanks

& J/ H/ n2 u5 H* X' M; T6 |6 `那些根本係 紙上財富  
/ R+ f( [4 [4 [- a7 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 graphic2 q& j9 b* `# p7 I( h9 {

( O. D( G0 O; Bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
+ J5 l+ V* P  A6 l# z  w當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# L4 I5 ]0 [$ w" @, L' w' r3 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
  h  M6 Y" _- B7 Z. c3 B2 M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ N1 g. w$ R/ G7 M
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! h) ]5 c0 C" e4 |4 u9 J計番回報率就已經係50%,所以可以好好賺6 W) V) Q) M* s0 N
前提係銀行之間要互相信任先可以咁樣借法
5 O; s3 g- k* W  B& ]- P  ?: N- F2 i同埋個市場既前境要係好先得
6 G1 T# b: g( ~8 R# b; `, v# R但當經濟一差,公司估值趺了,物價不升反趺
- K) O3 H7 z' F3 O例如剛才說10蚊的, 趺到得番9蚊,
& c- ?2 c( N/ ^; l$ G! H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. }0 Y& e) L& o+ [  Z1 t, d* V: b
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, 9 q- }4 u1 _/ ?) I3 i/ z* O
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, 3 ^. T5 k. {0 y& \/ e( w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ V( b1 _* B$ q( _# d* s/ Q1 i$ ^: 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
" l# M  u$ A3 C: T& u: \1 J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
* p( F3 `7 H' {' X* J. I唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 q- K7 d! @2 l3 v  j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ C1 I5 Z% L1 R3 J& z. Z
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6 N% `! i7 h6 c2 f( L0 D
咁你話d錢蒸發左去邊? ...

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7 Q! Z! d1 @2 ^, d. R* D/ R正係咁樣
( K! d2 B" F- u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
1 y, @- u3 L/ S分分鐘佢地唔使還錢
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, Z5 q$ b8 n* q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,( e# V. Y* Y/ N/ I* c
連國家都係問人借, 不停發債券, 印鈔票) P5 P1 a+ x6 K8 W
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 B6 h; a& x0 `* W( l$ K' Z
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' n( M# ?# q5 k& ^5 A9 E$ o" I" J: G
咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 o, c8 @& V/ h% m- K其實係...
. ]9 |8 i4 M' H" ]" {7 w1 O1 y- U因為以前未生產, 先消費
, T2 q9 f$ k! Q( X, `, L而家就要多生產, 少消費