0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; W% O9 n( A$ SWhy bank will sell 借據給第三者???
" g" _0 Q* ]* J' T  [( qI was so confused.....

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$ j' j! g. [$ k/ L7 J, ]& `講到尾都係賺錢: X3 O' ^, C, ?. n0 ~% B0 d
so銀行可以不斷放款
, b7 V6 x+ X  A8 A8 p" t美國的房貸問題散佈到全世界
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mortgage loan
1 w# E* E: l  \& u& A8 ]. B1 C+ N/ l>conduit
) U( z2 H6 r; i3 ]9 y>RMBS(Residential Mortgage Backed Securities)
  {8 J- L0 p9 t5 f: [$ W>arranger
& u4 q# u5 i0 W: V>CDO(Collateralized Debt Obligation)
- e$ M# d+ U0 }1 k( a( j最後去到投資者

Kev

i thought it is the reason of rate of return.3 k5 k. C& M) r4 V/ r8 K$ h- _
CDs could have different ratings, AAA -> F,8 h; Z/ t- s4 y/ {( @4 r
more risky ones would have higher premium (interest rate) as a compensation for an investment.; F6 o  D7 P' ~" m% K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ N! p8 }  R; K+ L' `# ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* q7 x6 M: _: }& P  \. d" HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 K9 Z+ Z+ |- i0 `
similar to bonds, CDs trading in the secondary market have different value at different times,
) }  n9 p# o7 S8 X+ C% P& p& rnormally the value is calculated by adding it's principle and interest. ( i/ P- b( F; a  \4 C
eg. the value of the mortgage+the interests to be recieved in the future. 3 h; u4 S, v2 F' m4 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.
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! J' \! f% M4 V0 ~% }+ y+ S& Wim not quite sure if the multiplier effect does really matter in this case.
1 H( [7 x1 P$ E6 x; |8 [$ s, Fin stock market, it's the demand and supply pushing the price up/downwards.
) E* r% Q* j7 h  J: xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 l* g6 l/ f2 nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 Z) Y3 |# C1 _8 M* 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.
+ N! ?8 [4 I# G8 g  O2 Pbut the value of their assets did really drop significantly.$ \7 A- t; Z" u! R2 V0 d$ I+ H0 `2 n

' ^+ H. q) s% ?& ]* Q/ k( 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.gif6 S/ s- ]  m' U. z. ?; |4 k
Refer to last example,
& k- I  D$ r4 ]( M& q1 Cthat means bank A have no money because we borrow 10 dollars from bank A
3 I4 W6 B4 m: ]2 w: F2 q5 EBecause bank A doesnt have enough cash on hand 2 M: q' I6 I, q& P% N" w0 S. L/ {
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% Y$ N  h8 y8 D9 Z+ S% N" h' I! h% t- F- B- j2 k- ~
A->B->C->D->E
. D3 Z; [, ?3 p$ q* V* hso does it mean if E failed to pay D,
8 r) b0 y" ~; w' g+ F  R/ X  qall the B,C,D,E have to go bankrupt?
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* S$ e' A2 X# C- e. Lthe multiplier just tell how much money created in a whole economy, 4 O5 e% q/ ]" o3 M
in this case it doesnt really matter how much money is created, 8 S2 a/ Z% X% Z/ }2 H
it's the problem of the debt itself.
( r% P8 u: Z5 e4 s1 dthe 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' n- z8 W3 m' `& z
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?# v# I; A6 G: I( s

% B* g' F3 F  P/ A7 X  a1 ]無可能淨係有人蝕錢無人賺架嘛...  G4 W* {5 U: v6 A

( E) p1 U" d  D) A4 c; b6 }敬請各師兄解答3 V$ w+ I$ `1 n# m" e! F4 d0 O4 ^  _

1 j+ M5 _" G0 OThanks

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那些根本係 紙上財富  
9 t2 u/ k& R/ I0 Y) `  k( h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( A) M4 ]- q' K  S) X, 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
2 Z1 s/ c7 R$ A  {當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 S  t" J" _* A7 D
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% F& W% H- j3 K; u8 B; G4 y4 g6 q0 q. W$ i0 w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( E. c2 R; z6 q7 j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
( J" ^' n" X1 R計番回報率就已經係50%,所以可以好好賺; K; _) t0 K: f, r) o
前提係銀行之間要互相信任先可以咁樣借法
  w# H$ j9 P1 k& p1 I- T+ e同埋個市場既前境要係好先得
! t# f' w8 g8 Q' w* b- A" @但當經濟一差,公司估值趺了,物價不升反趺
. b2 T5 p0 e' V0 C例如剛才說10蚊的, 趺到得番9蚊, ) `2 x$ r7 v" G, r* |; O+ ~( Z6 w) |- D
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 o) L3 E5 |" q1 _! q所以你就會覺得D錢好似蒸發哂咁( k  n' G- k  L4 U4 e: u

$ r! L" z2 \. X7 P, w1 E你都可以當標野咁諗, 個樣野多人可以狂升值,
( \8 u. V9 {$ v( F$ u0 i$ l6 F. 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,
1 h  U% F3 y0 o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - g5 b$ n: k. M
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- a: V1 ^9 P0 R( e5 e0 M
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
( m, ]' k% V' L) E6 G) ~2 }唔係d錢蒸發, 而係比美國佬洗晒未來錢, * f. G+ e4 s, c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 r# f0 v7 q4 A$ B* H, ?+ E
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
+ p( w3 W& ~+ u; ]- H% i, m6 w' J咁你話d錢蒸發左去邊? ...

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; l5 r- n* H0 s: n& Q* s6 R3 B1 l正係咁樣! j9 `/ F1 f6 L% T
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
/ [( m7 b/ a( F) K, k9 Y. }/ c分分鐘佢地唔使還錢8 L, X+ ?* ~: |9 J+ X6 \, @# O

0 [( D3 C0 t" h( X6 B9 `+ a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 ~( Q0 p/ S- F; M5 Q7 B
連國家都係問人借, 不停發債券, 印鈔票7 T6 U. R( x& c, E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) h) U2 N. l9 U! m. L
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
. |2 B" }2 F% F; T7 K咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ m4 d4 S6 e9 I& g
因為以前未生產, 先消費
+ q3 {  j9 f  U而家就要多生產, 少消費