0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 B( S$ |  o: ZWhy bank will sell 借據給第三者???$ o# @. U! p, r7 Z) s% w" H8 v
I was so confused.....

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講到尾都係賺錢
* e; X- D: E# O/ Dso銀行可以不斷放款# d9 C- u% h' \+ X5 K4 i9 Z" e! _) S
美國的房貸問題散佈到全世界1 N% }/ l0 f$ N3 S  W
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
9 T# l) o1 }0 k- d>arranger
. A! P7 Z1 X/ L5 P+ p>CDO(Collateralized Debt Obligation)0 h& L( b& [& O3 _4 v
最後去到投資者

Kev

i thought it is the reason of rate of return.
( v; d1 V/ ~* Q! r6 Y! z( LCDs could have different ratings, AAA -> F,
4 G; O. p, [" ?* Imore risky ones would have higher premium (interest rate) as a compensation for an investment.: |# `+ i6 n% b6 R5 \. X' A
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 `, a3 I( _1 y/ e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 `( i, h" n# L9 E! I
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 f& j# k1 z8 j0 H( j. `
similar to bonds, CDs trading in the secondary market have different value at different times,7 H- n* |3 s2 p: R4 M$ v' w8 N6 h
normally the value is calculated by adding it's principle and interest.
6 j9 x, T2 R) R/ A& }eg. the value of the mortgage+the interests to be recieved in the future. - M" f5 H( b8 E$ i7 ^1 o
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.$ d. D6 P2 @' d* ~8 n6 l
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im not quite sure if the multiplier effect does really matter in this case.
& k! d2 V# T& X4 f0 k& s  uin stock market, it's the demand and supply pushing the price up/downwards.8 w/ e8 y+ H- N2 H
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 J- R7 f( y5 s. m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." O& d" w& I% n* j- h6 Q
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. $ i  d6 ^0 C! c0 F$ z
but the value of their assets did really drop significantly.
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9 j$ |1 T1 s# \$ j* i0 h; x[ 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
% S) E$ g+ W8 ?2 pRefer to last example,2 W, s- B* e  E, G4 p- d% w( G
that means bank A have no money because we borrow 10 dollars from bank A 2 H5 D, Y& J1 ^2 B
Because bank A doesnt have enough cash on hand
5 `0 q7 q- s1 [) A5 [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  ^6 C' b% N# _; N& y( HA->B->C->D->E
4 ^. s" X( ~( O" s' @! q4 lso does it mean if E failed to pay D, 3 t$ h6 C6 m8 \3 g' r* v8 d
all the B,C,D,E have to go bankrupt?7 v+ Z+ j0 J8 L, k, X1 o

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the multiplier just tell how much money created in a whole economy,
% ?. m" w3 N! _* hin this case it doesnt really matter how much money is created,
2 S. N) f; Q9 w. u4 Pit's the problem of the debt itself.9 m* i: U) ]2 R& }( A4 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- x) E) r$ D$ Z  T1 o
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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$ P% x0 z2 p( S9 G% h- Q無可能淨係有人蝕錢無人賺架嘛...( H+ Y* q) u+ Q

0 E2 G( ~8 n( X+ E) U1 l敬請各師兄解答
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% x# x% y+ c# N/ cThanks

# L" c& p4 N! N. y那些根本係 紙上財富  
5 D: C* W2 b# V2 R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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* K" ?. M# L9 a3 F2 ?8 rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
+ W8 J( o1 ?2 P6 b( l+ j) D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, @7 `4 U7 s" H4 B9 [4 Y0 d! T! d7 ^
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
: o8 {9 z2 y0 S. J2 B/ H6 [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  L+ U3 J. J4 M9 k) h
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' I+ ?! x; f" r) V7 g5 F7 B: q計番回報率就已經係50%,所以可以好好賺4 z; T8 Q# {; G& R; z, e* q( |
前提係銀行之間要互相信任先可以咁樣借法2 I; F0 D" r! h1 _5 M
同埋個市場既前境要係好先得
6 Y6 o0 s3 {8 N( z: J但當經濟一差,公司估值趺了,物價不升反趺
" q' X+ _# c$ X( m3 a3 n9 ~例如剛才說10蚊的, 趺到得番9蚊,
8 N/ J% J- D0 ^4 ]! F) v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 L3 k% A- z4 s) R/ [- g
所以你就會覺得D錢好似蒸發哂咁% k) |' C4 b2 h

5 @9 K8 h# J  r你都可以當標野咁諗, 個樣野多人可以狂升值, * A; e" |) y7 o% B" a4 b
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,
# \6 m3 q0 C' S) \# g' f6 p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . M1 f( q+ B/ y4 p9 Y
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
1 E! R; Y$ F/ k7 F7 `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( u0 I7 p: }( n! N* h% @
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 y$ B) }9 u! z  Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + `9 D( ~0 K* A( ?2 ?1 V7 \% P
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 ?7 ~- \- e- U7 [4 }
咁你話d錢蒸發左去邊? ...

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正係咁樣  K$ p, s- v) m
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/ a6 \! ?7 N3 R+ ]  [
分分鐘佢地唔使還錢* I! L7 Z( z1 s, x' Y* g

  m0 o8 b6 I- B% `( f: T7 {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,  H* A- |. q4 G' I' n
連國家都係問人借, 不停發債券, 印鈔票# N+ M" {7 B  t
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ {( t- w+ X0 p1 ~. S* E' X1 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# f! u: r! ]' p, R* l* }- n
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
9 n0 b; U  @6 y1 m  j; r因為以前未生產, 先消費
: m( T. u+ _& B0 A& @/ G而家就要多生產, 少消費