0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& p0 a1 S5 C& U( XWhy bank will sell 借據給第三者???
* Z" g: w+ E( ?. XI was so confused.....

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講到尾都係賺錢, s/ g! O0 ?& H0 A
so銀行可以不斷放款
5 {" ~1 s- ^% U0 V7 h美國的房貸問題散佈到全世界
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mortgage loan / Y( z, N* Y1 F6 n2 f- W
>conduit1 J1 ^; ]+ r6 C+ I9 i; t
>RMBS(Residential Mortgage Backed Securities)
% V( ?  @( |$ f# X$ O8 R2 c( n. i>arranger
5 s, X( u8 z( Q5 e  x! T% m; f>CDO(Collateralized Debt Obligation)# D! x9 |: L' J1 g- V
最後去到投資者

Kev

i thought it is the reason of rate of return., }0 h0 g+ m  _) X6 a. u
CDs could have different ratings, AAA -> F,7 Z- J7 K8 o/ p5 V6 c
more risky ones would have higher premium (interest rate) as a compensation for an investment.. B* M$ A$ z8 {' g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 R! g% L* u2 Q% e; \in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" B! N3 p, R6 D6 i4 D& v: w5 mAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* A, o5 \$ \9 x6 W. [similar to bonds, CDs trading in the secondary market have different value at different times,# l7 {9 g! z) a# H. r# m( I. c
normally the value is calculated by adding it's principle and interest. ) ^/ D5 D$ ?8 e7 y( U: `# z+ V
eg. the value of the mortgage+the interests to be recieved in the future. # \6 _5 o( c6 b) b
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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/ U3 Q+ M' y7 bim not quite sure if the multiplier effect does really matter in this case.
. d& Y. \' F0 \5 ]in stock market, it's the demand and supply pushing the price up/downwards.
' q8 b4 r9 a; m' ]* `. M; xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 M5 j  i# X2 h. r9 d- }8 J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- L. v% |9 r' r7 J+ v
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.
/ e# ?& G1 X- v9 I4 I& Kbut 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
5 o' a" {, ?( H/ yRefer to last example,7 b" W6 Z2 l7 G$ k# W3 R+ N
that means bank A have no money because we borrow 10 dollars from bank A , i8 W$ F, S% u/ N/ Y! @( W" Y8 H
Because bank A doesnt have enough cash on hand
6 x9 R0 {. Q+ A" d$ Etherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E! R+ ~  T' y8 ^8 T& _; V
so does it mean if E failed to pay D, % g1 ~# Q  r3 G' r7 ~) V, s1 @
all the B,C,D,E have to go bankrupt?) t0 ^& P; R, u& Q. q
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the multiplier just tell how much money created in a whole economy,
1 S8 L2 n% `( rin this case it doesnt really matter how much money is created,
4 D  K1 i" |7 o& A; kit's the problem of the debt itself.$ Q9 y7 I  K  I* z2 l, n& M# ^
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
5 X" C" {0 i, r2 G小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?; S. U3 ~  `4 K8 H
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無可能淨係有人蝕錢無人賺架嘛...
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$ z1 s/ }, T  b2 r2 |/ N0 T敬請各師兄解答
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5 U! Z) D+ i* r) m1 L! D7 LThanks

! ]9 b8 y1 L( ~* Z* D2 f; e! j那些根本係 紙上財富  
% h. O/ `2 k$ Q3 h7 F  o& E3 U  G7 c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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2 _5 J. a- b/ e6 k) Mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產) L6 l& v- O' c2 F0 V# C  N
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, N# @2 f1 U, V
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0 [! u) I1 o' Q4 w( n  E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. t) E& ?# p1 E9 b7 S
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# R. z4 w/ _8 @# ], K4 J, [
計番回報率就已經係50%,所以可以好好賺
, \! M/ \6 L% ]  h前提係銀行之間要互相信任先可以咁樣借法
5 E4 p" X& R5 m- H同埋個市場既前境要係好先得$ n/ n7 f) t7 ], H
但當經濟一差,公司估值趺了,物價不升反趺
+ w! X. A4 o8 f# c8 ^例如剛才說10蚊的, 趺到得番9蚊,
: i* \8 `. b/ U; k/ @/ k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, o0 S; ~+ I% Y0 Q
所以你就會覺得D錢好似蒸發哂咁5 Y: ^& f( a" i! `# f

& J, U* h( E' y& N& Q0 _8 D* C你都可以當標野咁諗, 個樣野多人可以狂升值,
, r- D9 e* V, R7 @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 Q/ e* O- c# {9 v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 X# k' u# W, D5 V, s4 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! ~3 ^) G# U; t
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
5 @0 }2 {# H& }, j' K8 k7 o唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; Z" V: J8 b2 ?; i2 F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) W8 Y6 F. w* @9 d, P4 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: M9 p# C3 p, [5 R# i+ O1 a
咁你話d錢蒸發左去邊? ...

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正係咁樣7 s* u- K# K, R6 x5 B
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
! J9 \, n+ N8 }& N: C分分鐘佢地唔使還錢
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' Z! |8 v8 {: h/ g& W3 V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,; W( Z7 T) G& l0 g( S3 D. o
連國家都係問人借, 不停發債券, 印鈔票9 y1 c8 P3 u1 B4 e) |1 N# T7 _
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 c7 C4 L( Q& {& P* q; z2 J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
, Z) l: s# d$ ]) s8 e! O1 B( n咁而家"爆哂煲"算唔算先至係變番"正常"???

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# O3 r. X+ y8 Q# _# T4 }$ i5 J其實係...' v- j+ r/ ?9 X4 P4 D8 E
因為以前未生產, 先消費
: n; O8 D  J  E; f+ }& Y% [而家就要多生產, 少消費