0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 ?1 A( p  p: I& V  ~' p
Why bank will sell 借據給第三者???
1 f4 ^2 F" |% k, A9 II was so confused.....

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2 p" i6 |( N. o& D5 k講到尾都係賺錢; U: j; R0 @/ \, p9 x
so銀行可以不斷放款4 H) o7 m$ W; l
美國的房貸問題散佈到全世界7 e' v$ d. T5 j3 r' _# z
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mortgage loan + R, C  r5 j0 E! Z3 O
>conduit* @0 r4 F7 F" A- Z- b' p
>RMBS(Residential Mortgage Backed Securities)8 [" U3 m$ O* j% X# _% b. ^# b7 g
>arranger
0 \# {3 ]. X* _8 C2 H  j>CDO(Collateralized Debt Obligation)$ P: d* I. Z: ~7 u# a/ [
最後去到投資者

Kev

i thought it is the reason of rate of return.
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more risky ones would have higher premium (interest rate) as a compensation for an investment.
" O& a: ?8 i# C" q/ kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 N# |" {' [) k- z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ T+ ~6 Y' w* _) k" o# p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ _7 ?3 ?& [  f% ~& Y6 Asimilar to bonds, CDs trading in the secondary market have different value at different times,
, p3 \1 K+ T+ C  n7 [  wnormally the value is calculated by adding it's principle and interest. 6 |) ^& h) B2 l! p7 p
eg. the value of the mortgage+the interests to be recieved in the future.
5 S) O* L' @+ R1 d$ y; `: ?9 ^9 v9 Dbanks 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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im not quite sure if the multiplier effect does really matter in this case.
0 J7 Y( {" |4 W+ Ein stock market, it's the demand and supply pushing the price up/downwards.
7 X# D; h( D8 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 |* K- d' K0 ], T- U
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 Y; I2 [3 |" ~) s* B  n
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. 6 {8 N+ W# t* I0 F" w( c
but the value of their assets did really drop significantly.
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4 i# ]% x# R" w$ h: B" f# P5 A0 W[ 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
2 L6 m( k. }+ ^$ qRefer to last example,
4 V6 J7 u& I; A' S6 h/ l, Dthat means bank A have no money because we borrow 10 dollars from bank A : g; m5 b+ m5 p1 Y- _
Because bank A doesnt have enough cash on hand 3 Y* b& d" d$ x% D  E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
3 H7 I! }0 K8 V( C+ y' ?; c$ k& hso does it mean if E failed to pay D, % {! p0 w/ O' @: V/ ]+ G
all the B,C,D,E have to go bankrupt?) O' `- _( h* N6 ?: @

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" l. d4 v, v" m' V2 [5 q' J2 q* R$ E2 Z/ kthe multiplier just tell how much money created in a whole economy,
/ E" b, J# |, O" K: U- Xin this case it doesnt really matter how much money is created,
' Y# \2 R" e; Lit's the problem of the debt itself.- `5 A$ l9 Y1 @- b) U  [7 w" y3 g
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
% X8 V/ D7 q, n$ P" ~+ a小弟一直都唔明...
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4 y% M- }$ q  {2 Q: n" D+ A& `全世界都蝕錢，咁邊個賺緊錢呢?6 y/ ^! U9 y# k- k

* |) ]! x% l: Z$ \無可能淨係有人蝕錢無人賺架嘛...0 b+ z9 ?% c7 [; b4 Y

3 N  `: {  W4 o" L& M  u* \敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
2 h: K5 i7 [! u6 d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- j5 s3 @* |- Y3 d; K
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% [  _& r9 P$ t8 M4 U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 t" L0 X: I2 _
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ `3 m1 `6 v3 r& _7 X
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ Q- a* |2 D2 ]+ g' {( O計番回報率就已經係50%,所以可以好好賺
9 \* S9 l9 ?" ]  q$ y* f5 T) g前提係銀行之間要互相信任先可以咁樣借法
% V' o- o9 Z! U3 M/ T4 [同埋個市場既前境要係好先得) _- H4 K  s8 x$ ~# ~
但當經濟一差,公司估值趺了,物價不升反趺
8 f" J( O( F1 \5 N6 w例如剛才說10蚊的, 趺到得番9蚊, + h3 M' d$ a' @& _7 r; A. t
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. r/ g) r( S5 r4 A3 }. {" E, h* `
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
' U7 F) G2 U- w5 t% a, h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,
+ E1 W* h7 B; m5 b" W( J- {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # U/ N, h. f+ S, `. N! 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  y, {) H+ }7 g) {6 O' x
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: }$ K  U4 o  t
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 X: z" w+ S  g淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, D& I: H4 `# C2 L, [. Z/ |( L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: J8 Y" I7 t/ h3 V: h& J, G
咁你話d錢蒸發左去邊? ...

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正係咁樣
6 x+ \7 X7 m: l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; K$ ?1 n; m* k3 n" t* Q
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,
% G+ e# G3 A" y5 d6 U% A8 B連國家都係問人借, 不停發債券, 印鈔票
. j5 g5 L" [; C5 I$ |' N+ R7 W一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 L+ a2 v" M/ B- P, |
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.gif3 [) e* W# ?; b/ v# }6 `0 Z" u$ l" {
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; Z1 O4 d# n2 x# A5 F其實係...1 h- L; ^! l3 ^. G
因為以前未生產, 先消費) |* h' e6 \& f, [9 j
而家就要多生產, 少消費