0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 a8 C" X- \6 B6 P: r
Why bank will sell 借據給第三者???+ l2 z8 V9 J$ L# j
I was so confused.....

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  c- ]" f- Y9 M" \# j0 m) a講到尾都係賺錢
/ R6 t: \( G! g8 C( `8 pso銀行可以不斷放款/ q% T# w; ^: `  ~/ q( E
美國的房貸問題散佈到全世界% v! g. X5 V! W; Q: D  f  I
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mortgage loan
4 }- |; N1 P7 V- L. K# c>conduit
+ o( `3 ]1 }- S0 G>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)2 q  s$ J( h9 i- A& J4 Z5 G
最後去到投資者

Kev

i thought it is the reason of rate of return.3 O4 J: G8 t7 c5 o. Y2 P+ I3 N
CDs could have different ratings, AAA -> F,
9 n; c0 w/ v: L0 n5 X" j& bmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 ]/ r* N6 G& Z4 V1 C
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' q0 s2 r* V8 D# ]$ jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 y" w+ j' x7 w& ]# JAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  J& Q0 c3 E6 K  m  {6 E" Ksimilar to bonds, CDs trading in the secondary market have different value at different times,
- `$ S- p: Z! ]4 Knormally the value is calculated by adding it's principle and interest.
3 q' ~* A3 k$ p4 k6 Z& Ceg. the value of the mortgage+the interests to be recieved in the future.
8 I# Q$ P" ^/ ~9 S1 G% Vbanks 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.+ b/ X9 y2 p( {1 S

4 @' U* M2 ^+ I/ wim not quite sure if the multiplier effect does really matter in this case.
) x. O1 V# H# h3 k4 m# qin stock market, it's the demand and supply pushing the price up/downwards./ N& L  W; [" C  U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 L) M" S: l+ \3 u: U/ Y3 CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) Q% x5 N- B+ o7 ?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. % l0 c7 ?( q; ^8 J
but the value of their assets did really drop significantly.
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  x- |2 k3 i- D* q" a[ 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.gif8 g+ \4 a- w5 x
Refer to last example,- C: O" ?* w) t$ v5 w; e$ A
that means bank A have no money because we borrow 10 dollars from bank A 2 p! {1 V% K: d0 h, K) e
Because bank A doesnt have enough cash on hand
" K, V2 }! e3 a( {. q7 Btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E0 g* |* g. _+ f8 t' I0 N
so does it mean if E failed to pay D, 6 n$ E4 @1 y! h8 a
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
- q- j8 @; V, ]' b7 [in this case it doesnt really matter how much money is created,
' J" t1 \' [5 W; @, Z9 Mit's the problem of the debt itself.: V" h3 H/ @9 m4 T' ^
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# ]' ^& F- \! b/ L- \; p
小弟一直都唔明...8 r: C* G1 {$ H

! h+ [( ^- v6 j* t% z& x" P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...( t" L2 w! l; p. n4 i4 S

, y8 [9 {+ H- b2 W' H敬請各師兄解答
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: O# p1 Z3 x$ {8 v  e( f' kThanks

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那些根本係 紙上財富  : ^  C" ~( f& J$ b# L9 }7 y# _
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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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5 W! D8 q( K4 X& |6 C$ t" }
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 O* e' }/ G3 W) ?2 P
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
. e  `9 d. }  g個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! `3 x! Y' l( F1 e/ r( o- y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% U0 F3 A) d0 }9 p0 f9 R1 j, E
計番回報率就已經係50%,所以可以好好賺# v  r5 J; B, J5 f1 z9 U7 G
前提係銀行之間要互相信任先可以咁樣借法1 P4 m$ e, M4 d- {6 y* ?  w) F
同埋個市場既前境要係好先得. l( b; {4 ^1 c- [8 d) y
但當經濟一差,公司估值趺了,物價不升反趺' v( |) j6 {3 R1 ], i
例如剛才說10蚊的, 趺到得番9蚊,
, C7 _1 t9 Q1 _! @  P$ ?咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 f: i1 F, u0 A0 \所以你就會覺得D錢好似蒸發哂咁/ U$ a8 M( [# P- p; P
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你都可以當標野咁諗, 個樣野多人可以狂升值,
) A. }, m: g5 Y; m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,
" R: q9 K9 s6 P5 |! j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 P0 B. I4 ]' x8 C* C, O
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
, _7 G7 E! t" v' M7 P. S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
; f" K- q5 C: ~& Q1 t, t唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. L# z. A; v9 Z# g  |4 R' Q) p$ m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( t( L: }0 M2 }# Z7 m- S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
; h! j8 J( C. x$ A6 u) _) ?咁你話d錢蒸發左去邊? ...

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" g5 f  J, h' x' a' [0 X9 o! f7 A2 [正係咁樣
; T; u+ f" T! 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
, v! s$ ?, Q3 Y' H4 P/ c; @  d9 U9 x分分鐘佢地唔使還錢2 M  \2 i% @8 a& [# |7 a8 z
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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,
& m, ]0 [' J/ ?6 F* C* u# B( R連國家都係問人借, 不停發債券, 印鈔票, f+ r  H9 `4 e* j" q$ i
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ C/ e. `9 I0 Y2 f' ^% i9 A1 z" X6 p1 b$ e
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 f2 _6 p# W" g) @* t& R9 u1 K
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
2 X  V' t* K- U2 }4 x! ~因為以前未生產, 先消費  h( n" z* c, U. q. C* S
而家就要多生產, 少消費