0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; p' H, c+ n2 t$ ]) M7 z
Why bank will sell 借據給第三者???
! M3 D% ?1 s& W& Z' O& [* uI was so confused.....

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6 b8 p5 n- j4 [+ p  F! y講到尾都係賺錢8 ^5 \& c1 o: x5 i
so銀行可以不斷放款7 I; g5 C8 y  w- u- w
美國的房貸問題散佈到全世界
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- s: E& t% O0 g7 X- H8 nmortgage loan
1 b8 k$ {' J2 V0 k, j3 C' U>conduit
  [: }2 y0 p3 y: `1 H>RMBS(Residential Mortgage Backed Securities); d' v+ ?* n3 L6 a% {- P8 e, |
>arranger; ]/ ~8 C/ T" a
>CDO(Collateralized Debt Obligation)
2 H% ^, _0 c; o" C: z  g最後去到投資者

Kev

i thought it is the reason of rate of return.
3 {6 l) M' p0 BCDs could have different ratings, AAA -> F,0 P( U8 T9 Y, Z$ t- t' u9 W
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 c! p, S2 i" r6 s6 ]6 dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 @2 @+ P: u3 m( w* v: bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 Y$ P: i8 P/ N. S5 ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 \$ B* N3 G/ o4 [% P
similar to bonds, CDs trading in the secondary market have different value at different times,( G4 u  D9 e  H5 [: q. {
normally the value is calculated by adding it's principle and interest.
. r6 k2 G5 F( g0 @$ L  Deg. the value of the mortgage+the interests to be recieved in the future.
7 p# P0 s6 }/ n1 k$ `& Mbanks 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.
8 u! w  N* C7 _( v: l% pin stock market, it's the demand and supply pushing the price up/downwards.+ o$ ~" t* u5 u0 t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, t# D; D+ V' t
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 t. L1 H  @* u- O: ?
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.
$ [: V. D! x3 S: B" O& A: cbut the value of their assets did really drop significantly.
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7 e' z  M# ~0 H7 W! f( S. Z! O[ 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/ j/ y2 @# E' ^
Refer to last example,
2 Y5 O! O! N+ i1 I7 o% m* m$ kthat means bank A have no money because we borrow 10 dollars from bank A
1 b( c: o7 V/ r7 GBecause bank A doesnt have enough cash on hand
+ a+ W$ ~% F1 L5 gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ F. n$ r; h8 j1 f* [4 |) {
so does it mean if E failed to pay D,
5 I# A0 R6 X6 X1 t0 m6 Gall 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, , O7 M) M3 C7 F' {5 J( ^
in this case it doesnt really matter how much money is created,
$ G3 {! ?! o! p3 M- `it's the problem of the debt itself.' \/ p: o' ~+ r# \8 O" ]5 q. a
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+ ?4 Q! s0 a0 M" p. W# g& f
小弟一直都唔明...
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, \8 ?) J& p+ ]  U全世界都蝕錢，咁邊個賺緊錢呢?
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& C/ F# p0 Q% M8 y* ~無可能淨係有人蝕錢無人賺架嘛...! |' O" l$ n& H9 j" {1 w" Q
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敬請各師兄解答
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Thanks

5 D9 s; G* g" @. |; @那些根本係 紙上財富  / B2 j! a1 a/ t; [1 C1 q- f
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( j- O8 t: M6 ]: a* h1 v& n# v
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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, b% p. @7 I# W5 r4 {) i/ o/ W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. b) |. O) K1 ]6 c1 |4 f! N) Q
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3 s( K: @" t5 w& F  N) L* ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- r3 X7 v" ~) z9 A
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  Q( z# [2 o( @3 [" A
計番回報率就已經係50%,所以可以好好賺7 M7 O: e& F' o0 V
前提係銀行之間要互相信任先可以咁樣借法
: [! j! l3 Z- J  L( `" k同埋個市場既前境要係好先得$ ]" M* s! ~1 e: v3 m
但當經濟一差,公司估值趺了,物價不升反趺" x( o1 c. J  J4 y$ @
例如剛才說10蚊的, 趺到得番9蚊,
' B( T0 w8 g1 V* A9 O' M0 E咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 a: T: ]7 d4 O$ j% `4 S
所以你就會覺得D錢好似蒸發哂咁# D9 ]0 l0 a$ l  z/ ]; b
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你都可以當標野咁諗, 個樣野多人可以狂升值, 1 w$ R$ k9 L3 r; J) t! P* W  R% Y3 F
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 r! c  r' }: P5 J5 R& `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" s) R  _) U$ B# v/ T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 t' }  `0 |# A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% n" C& I) D' b
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: n% V0 s, D) q" Y3 X# M5 I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 Q; V0 ^5 U! Q- g9 l, W- 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# Z/ y3 F9 D( w+ C, C/ l( s
咁你話d錢蒸發左去邊? ...

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正係咁樣' M  {. Q( U& D- |
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
/ f+ N: i/ M9 B# T分分鐘佢地唔使還錢/ ]% `6 [- u. K  ]  v# J8 C
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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,
8 m0 x% I5 t- |3 }" H: g連國家都係問人借, 不停發債券, 印鈔票
% k5 J, j- X1 J% k  T6 n; ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ U% h  _+ z. z4 g$ x
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
0 s) U. n+ |$ t2 I7 f& _咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...7 t6 u7 ^. T% C% w/ t& R
因為以前未生產, 先消費7 y* [  Q1 h% I9 g
而家就要多生產, 少消費