0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 `; K$ D* s! S8 ~Why bank will sell 借據給第三者???, K6 R# p& _1 O
I was so confused.....

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講到尾都係賺錢
" l8 ]" Y' }  N% A. D1 I& qso銀行可以不斷放款
) u  [0 D: m7 v. m6 V美國的房貸問題散佈到全世界
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mortgage loan ' Z7 n7 e9 }! @% R+ S) U" N' M% P
>conduit
* G2 G" c$ l, f& k& o$ D; `7 B>RMBS(Residential Mortgage Backed Securities)  W& n. D. }  M
>arranger3 N8 N/ m) }2 _1 G+ C) P4 l" M& j! z% g
>CDO(Collateralized Debt Obligation)8 a3 v3 w  M0 k- y3 R
最後去到投資者

Kev

i thought it is the reason of rate of return.$ E% E9 K0 Q7 d5 R3 Y
CDs could have different ratings, AAA -> F,8 a" e( z+ W( W) N3 c1 g
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, Z$ l# g( Y8 e5 L1 \4 `main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# n# U1 x1 z7 t  kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 T2 A% N& {# w0 i& t, h- W: ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) }# R7 J3 ?% M& U6 Lsimilar to bonds, CDs trading in the secondary market have different value at different times,3 l" V/ J9 r& q7 }
normally the value is calculated by adding it's principle and interest.
3 P. M( g2 p( E4 Y$ q4 Feg. the value of the mortgage+the interests to be recieved in the future.
, Z/ A% w( F% a) J2 p: |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.
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, e0 Z* ^! `" z8 O& t# d* ^im not quite sure if the multiplier effect does really matter in this case.$ j* L  b6 S$ d- B# ~2 e1 M0 j2 Q
in stock market, it's the demand and supply pushing the price up/downwards.
) _% }( t1 F% mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- I- {8 M: b' p4 @7 B- PA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 A) b% q. i" Y7 ]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 x9 ~2 W% o2 i4 W3 d' X
but the value of their assets did really drop significantly.1 S2 w' C5 |; F

6 w6 A6 r/ [$ W$ A# P3 d6 P) o2 e% M[ 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
# L6 H0 Y4 d9 M; n' y) R" ~$ ~Refer to last example,
2 c# {+ i- h/ N% Othat means bank A have no money because we borrow 10 dollars from bank A 9 p  Q2 F! {' h  X: l
Because bank A doesnt have enough cash on hand + h) h% J+ a3 a2 R3 l7 f& X: D
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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) ^+ W4 D" J5 b4 M5 ~. bA->B->C->D->E7 Y3 Z. B# L8 }& U2 o. m9 ^+ ~, x# q3 v
so does it mean if E failed to pay D, - M4 y$ R. b* v2 d; k5 r  q
all the B,C,D,E have to go bankrupt?2 V( X4 u' z1 l. e: E* d, I
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+ t: G$ U7 W+ o; n" Zthe multiplier just tell how much money created in a whole economy, 0 D0 k% l' {( `- ?/ B+ B
in this case it doesnt really matter how much money is created, . ~( z: Z" B$ o0 k
it's the problem of the debt itself.0 g) p! I- |, m% L: K: Y
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. U' ~: }- l' |. n0 b3 b
小弟一直都唔明...3 o4 c6 S  N# G( Q0 v# E

- H' [. ~( U; U1 ^( t$ Q全世界都蝕錢，咁邊個賺緊錢呢?
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0 I, q" }3 j9 Y3 {/ P無可能淨係有人蝕錢無人賺架嘛...% {4 c+ G0 D$ Q; H$ `) C( n8 c

' }6 K  _1 e- `0 z) [4 X敬請各師兄解答
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) Z, a  J7 H9 z! x0 D, BThanks

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那些根本係 紙上財富  
9 R4 a, g* m0 G% o7 L4 B' {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) I% r  U  z. l2 U) Y$ G' @7 |& _, A
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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 y* e: D' ]: n/ ]# z/ n
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 @; Z' f7 k. v5 L; A' {0 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$ h  E, B: P4 J4 B# o5 P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( W9 T! L0 h: {) C扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& n7 H2 n7 Q2 Z計番回報率就已經係50%,所以可以好好賺0 F4 g  W: y; E. r6 r
前提係銀行之間要互相信任先可以咁樣借法
# F2 w+ H' [0 A" _/ @) C% x# u$ {同埋個市場既前境要係好先得
: O9 g6 m7 f+ H# z0 d但當經濟一差,公司估值趺了,物價不升反趺
) y. F0 o& K3 L: j/ `% }例如剛才說10蚊的, 趺到得番9蚊,
; U! Y3 f$ O. u" g/ Q9 Z咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# n2 H( N& f& {. [: O6 H+ N) ^所以你就會覺得D錢好似蒸發哂咁; ]8 }. b$ H0 v' i/ M" w$ H

3 {7 L, r  |' _8 }& e你都可以當標野咁諗, 個樣野多人可以狂升值,
: P5 `. w9 _9 b5 x2 h7 m2 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, ! l' R4 c- v0 `( e6 e$ Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 v, x2 A9 y+ g+ ^$ ]. 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0 l* q) R  S: t8 B1 N' j+ W/ w1 U
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
- y: m3 z" p9 b: Q  f唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  Y2 r5 m( S( r7 K8 B5 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! i8 i5 H+ |! ]" k6 b, m0 S$ ?) K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
  I0 r$ z/ {" X0 J5 t咁你話d錢蒸發左去邊? ...

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# `3 m9 \) B; q; [6 k正係咁樣
# E7 z/ k. ]( r7 S% i3 c! @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$ t/ I; m7 w3 @. Z
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,. t5 s& E% i3 ?, R7 v# e, K
連國家都係問人借, 不停發債券, 印鈔票  J. L5 `# j3 D, T
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. r8 g5 |" l; S" x% x5 w. R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
% D8 B1 o- z' d* Y* q咁而家"爆哂煲"算唔算先至係變番"正常"???

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, |# _: ~) O3 b! f6 I, L- X其實係...& ^, i" G9 j& d3 Q5 j- ]
因為以前未生產, 先消費
+ A9 q, F$ a* z2 D而家就要多生產, 少消費