0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. }6 k' O& `0 t: QWhy bank will sell 借據給第三者???
9 E3 J9 T0 L# v) MI was so confused.....

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講到尾都係賺錢, Y2 p& A9 ], A+ \- C  b* g
so銀行可以不斷放款2 F. H5 ?  m. U$ k' k
美國的房貸問題散佈到全世界: Y: C8 c% U# B4 r4 ?1 g! V

/ r/ p, [6 s, h# g. S1 g( xmortgage loan
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>RMBS(Residential Mortgage Backed Securities)+ i  j- w9 ]0 s8 v
>arranger
' b# W6 p* X2 w; [9 S6 R>CDO(Collateralized Debt Obligation)
: E3 R1 n0 ^+ Y9 U* E) n( t' B+ e最後去到投資者

Kev

i thought it is the reason of rate of return.0 W+ b+ k8 w+ h5 `% i! }  z2 [8 r4 U
CDs could have different ratings, AAA -> F,) K1 a$ E: F1 `' T
more risky ones would have higher premium (interest rate) as a compensation for an investment.- B( p5 U) J# `( z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ T  O- h) O% I  l, Y6 A9 qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 V6 _  I; _  V0 a' ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) F. T2 z7 F2 g) ~! }! `4 Z3 ]similar to bonds, CDs trading in the secondary market have different value at different times,
7 H5 A8 E; t: c' E  [2 \( h0 C; unormally the value is calculated by adding it's principle and interest. 0 u' a3 S& v5 M% u0 X
eg. the value of the mortgage+the interests to be recieved in the future.
0 {1 Z3 f4 a& L& Bbanks 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." I1 k# p3 n4 |0 Q) D; o
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im not quite sure if the multiplier effect does really matter in this case.# T( [+ ^) @( p9 b5 ?
in stock market, it's the demand and supply pushing the price up/downwards.
. [. G) D' q4 C) @' gFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 c+ ^+ X/ J7 Y9 L0 |% `% ]A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ p& M8 ^$ @5 B2 f- L6 |
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.
1 B0 L. r4 y5 ~- P- Gbut the value of their assets did really drop significantly.
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- Z/ z/ Z8 l7 Y9 ]  A" e, I. Q[ 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.gif9 A* ^- M% h1 `! r: ?% j
Refer to last example,1 j9 ], p$ ]) V1 o; f4 p8 M
that means bank A have no money because we borrow 10 dollars from bank A
( u; l/ S6 S* gBecause bank A doesnt have enough cash on hand $ n" w& ]5 K* y& g( K# x
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 o4 u' w: y" L' ^A->B->C->D->E
7 @* I  `, f8 c" y7 bso does it mean if E failed to pay D,
9 h3 \7 L0 Y/ I" S) w& A$ x5 J/ ^! f1 hall the B,C,D,E have to go bankrupt?
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. j4 r1 G9 P- a! }' W2 }the multiplier just tell how much money created in a whole economy, ( _: n8 x' k9 K$ t. ~, r: m) w7 Q
in this case it doesnt really matter how much money is created,
. g1 h! {. b1 Rit's the problem of the debt itself.# [6 J1 c0 g& X/ S, t# ?% Y+ t+ d
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; K+ X# L9 r0 \; K0 G+ W
小弟一直都唔明...( D$ ]/ C3 k: I2 f- h1 e5 c
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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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( T' c" [. H6 Z敬請各師兄解答
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- X% h. w4 A: o7 MThanks

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那些根本係 紙上財富  
+ C7 ]: E: {$ y6 u4 O9 T5 |1 `1 X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 graphic4 U( w% e: _2 [+ o2 L. B
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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
3 d! t# n' e1 W5 r' O+ s5 Q+ ^5 L- l當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ J" k9 A3 e" g% R: E  ~2 @
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6 w2 C" A2 u3 N, {. g# [$ {
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 b7 L+ e: q" J7 c  m' I, R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; q$ T9 u! x3 J7 u4 a2 \3 M計番回報率就已經係50%,所以可以好好賺
' m. k' L* w( S1 G  o前提係銀行之間要互相信任先可以咁樣借法
: \$ G' H5 Z  P/ R: F1 h, v' G4 o同埋個市場既前境要係好先得
# ?( u0 I  i# {* P5 N但當經濟一差,公司估值趺了,物價不升反趺
: J- }' o- L6 v例如剛才說10蚊的, 趺到得番9蚊, 9 w0 U/ `8 d- f+ g
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& L) F2 X2 ~) {) w! X5 h9 b所以你就會覺得D錢好似蒸發哂咁6 E" y5 \  ?3 T2 J! Z3 j! x; Y

2 g  p+ S6 L4 {0 O你都可以當標野咁諗, 個樣野多人可以狂升值,
, }4 c8 w, R. T& P7 K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,
9 ^* ~- b$ m. S! i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + Z, U$ x" D7 d* T" m  C. 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9 s/ _' `  i- y
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
+ c' ~4 ~) t, X唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# Y8 h" k" e; r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 N3 w$ j! Q0 W# n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
$ S/ B: ]) p1 S4 G$ ^咁你話d錢蒸發左去邊? ...

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& Q1 k" J; P& c% P1 v正係咁樣
! Z: v$ M/ e! W+ M& z# C5 S% w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& P1 d9 q  N5 Y( a- C1 d分分鐘佢地唔使還錢
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1 h  f9 [! _* l) t1 |1 O7 E9 J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,/ f4 h' J8 U8 m
連國家都係問人借, 不停發債券, 印鈔票
$ n$ M( ?7 B  n' E( |一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 Y0 S% p' y3 [. }( Y! }
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.gif9 O2 l$ Q2 F; u- x* L* P; R
咁而家"爆哂煲"算唔算先至係變番"正常"???

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% E) P8 P! ]; \) y* C8 n# ]其實係...; D0 `1 e( \$ O
因為以前未生產, 先消費
' A5 P: I- k/ K3 I# o6 G& ~而家就要多生產, 少消費