0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) V7 C+ s' a7 B+ g! CWhy bank will sell 借據給第三者???( \1 q$ y5 R; Q1 d: X2 [
I was so confused.....

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# C/ u2 _2 X! _% Q% |講到尾都係賺錢
' b' `$ x; I; ^1 P0 P& [$ qso銀行可以不斷放款& ]* H" \* F. r4 t7 h/ w
美國的房貸問題散佈到全世界
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8 g# y, S& `' {mortgage loan " W: o) @9 ^* u- R& f( u" W' ]9 e# ?! t8 u
>conduit
6 @" h& E3 d' @/ S>RMBS(Residential Mortgage Backed Securities)
' [3 w! u. z% K- j, }- ~>arranger! f/ Y7 X" w' a' I- |, y7 T7 v
>CDO(Collateralized Debt Obligation)
, N# q0 b5 p2 T3 z# g+ w4 ?最後去到投資者

Kev

i thought it is the reason of rate of return.
; |1 v1 w7 A  `+ s1 W, ]CDs could have different ratings, AAA -> F,
* T* A' _1 u; ~$ |+ e& j- ?- F$ i+ Umore risky ones would have higher premium (interest rate) as a compensation for an investment.( s* z6 |( ]3 }* n
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! E* `) H6 U# G( H& U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 a: L, z1 |$ sAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 E2 o3 k4 A6 U' hsimilar to bonds, CDs trading in the secondary market have different value at different times,. C" y% n8 T9 ?9 J! m
normally the value is calculated by adding it's principle and interest. 7 U8 {* V8 e" G5 w+ v% h0 r" u% s
eg. the value of the mortgage+the interests to be recieved in the future.
/ t3 z; Y) o% o; v5 U0 ~. ebanks 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! u6 c( B  o* Z- ~6 H

0 Q5 j2 j# M. s% a9 D& pim not quite sure if the multiplier effect does really matter in this case.
$ M' {- U) U  O5 n  I+ Pin stock market, it's the demand and supply pushing the price up/downwards.
* J" l& l( Q% j! ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( Y, z% \# n! w1 o6 ~' wA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 H( K9 C2 ~5 g; W  L% I
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. & ^* t/ W3 E7 I0 a3 Y# w
but the value of their assets did really drop significantly.7 F" v3 o0 Z. e. b% g
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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' K6 o9 a  \& E: ]: ~, ~
Refer to last example,4 s- m5 q( f) e
that means bank A have no money because we borrow 10 dollars from bank A & U+ s4 f, m* |  |, I. u
Because bank A doesnt have enough cash on hand
( M3 W9 k" n+ x# o$ f- s) L# Atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
3 {! D* m# k  ^6 |3 Wso does it mean if E failed to pay D,
2 |# \: X7 ^* b; w6 T; _all the B,C,D,E have to go bankrupt?( _! f3 Z$ e) n: Q4 a

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the multiplier just tell how much money created in a whole economy, 0 b- Q" N4 X8 E" w. A
in this case it doesnt really matter how much money is created, & X; r3 `1 k7 \3 W# t
it's the problem of the debt itself.
# L! K! }; s' W1 l8 }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$ j! ^2 J6 {/ c$ ~# D
小弟一直都唔明...
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4 O& w/ |( S/ G. n( L全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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  u$ w1 [* L! t1 o0 y! V敬請各師兄解答4 Y. i- m7 I5 J- j( M( A
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Thanks

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那些根本係 紙上財富  / O) @5 i( |# h; J8 g
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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! s/ a# Z& d- thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
( v3 `0 x" l: b7 X/ q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 Y$ n9 Z5 c8 b' l  }
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; R' E3 n/ N; ]. A- y) s
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 j$ C7 k* Q* b0 n$ F/ G" u
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- w. T" K; M" `8 o
計番回報率就已經係50%,所以可以好好賺
. T& C7 W; Z) h  o! t) Z前提係銀行之間要互相信任先可以咁樣借法0 [) `: t1 F1 h" g) Z
同埋個市場既前境要係好先得
: P8 W7 m) E* Q' y, {1 N1 S但當經濟一差,公司估值趺了,物價不升反趺
' S  }6 ^! c8 z: C例如剛才說10蚊的, 趺到得番9蚊,
5 S# L8 y7 N5 Y  k7 T咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* G. X2 O% u7 K( M: ?# @+ ]6 V
所以你就會覺得D錢好似蒸發哂咁* F" I  G; N8 O$ b2 w0 `

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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, 1 P& |# X  T9 ^/ j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: X3 ~/ ^7 |& x6 |; T# w5 |  x% @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. U9 U, x3 @1 e! \1 m/ ?" h
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.gif7 _" r" n' l  p! e" b
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 n# `! K4 _' ]* L) e6 L0 ]/ d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! j2 \7 \$ \4 o& @! |5 M! n3 Q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 V0 P+ {# x1 E1 I
咁你話d錢蒸發左去邊? ...

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正係咁樣
/ o; {9 w8 K  J/ E, Z" ^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
. W; d$ g6 ?/ z) o: o5 q6 q+ s分分鐘佢地唔使還錢" N5 D4 b: F9 n7 l, q# V. L1 ?: {

  T- P+ a. [* a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,2 X/ R% u2 `3 Q( ^. z, ]3 S; M
連國家都係問人借, 不停發債券, 印鈔票
4 k) e$ t! S5 {3 ?! W. J一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! c$ ]0 m8 H1 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
! L. t( p1 \3 j/ N/ r5 J) {0 I咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ E+ ^4 a" ^! ?7 l其實係...
# H% {7 r/ L- u  f* L3 p; b- |因為以前未生產, 先消費; n1 M/ ~$ @! n
而家就要多生產, 少消費