0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% W( T5 s. w" `$ ]* i1 R* r
Why bank will sell 借據給第三者???
5 Q7 q- o3 g0 ?% L2 UI was so confused.....

+ c8 i/ l! R/ ?; W5 s6 d/ O8 I2 Z
講到尾都係賺錢
0 r7 ~% R. A7 ^$ M/ r4 B2 b* Zso銀行可以不斷放款- f6 K$ U: A( p% N2 j* a. I
美國的房貸問題散佈到全世界
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mortgage loan
+ z7 |4 l$ e; U6 p5 `+ M>conduit
  K. C! y( n$ L8 K2 V3 ~1 Y% q>RMBS(Residential Mortgage Backed Securities)$ O: }+ n6 x0 q0 Y% T3 V
>arranger  S0 p' Q+ F& K4 h
>CDO(Collateralized Debt Obligation)
  G! `% k  @% @. f最後去到投資者

Kev

i thought it is the reason of rate of return.
& m. G0 c. s6 E/ UCDs could have different ratings, AAA -> F,
' `* y: B& c0 Q" S1 Amore risky ones would have higher premium (interest rate) as a compensation for an investment.
9 {9 @! m) Y' m5 ?0 L) P  Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" f1 q$ d' i8 }$ o& hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ t1 f3 _( p( R, Q; n) t1 QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' _* F# D" {  i) i( b" C& b/ tsimilar to bonds, CDs trading in the secondary market have different value at different times,
+ l, V7 T3 U$ Q. V  Ynormally the value is calculated by adding it's principle and interest. 9 e) _" @+ y: b# ~( G' {* `* j
eg. the value of the mortgage+the interests to be recieved in the future. / y% H, K% d, Q/ W
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.3 v5 }9 i7 |6 e/ g0 K& _" E

$ u" W5 |( W  ]0 v% Tim not quite sure if the multiplier effect does really matter in this case.
  s9 p# u0 x* Min stock market, it's the demand and supply pushing the price up/downwards.
$ p+ {9 V6 X# x+ h0 jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ Q( I% C8 `6 f, C
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# a& o  d$ T" v7 U) V8 c7 G" v3 NThe 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. 2 }& }) a4 P7 j3 }8 b
but the value of their assets did really drop significantly.6 w& F# r, V2 a( O. L( J2 x! S
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[ 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& ^8 z# y  k2 o7 s. m
Refer to last example,
. |9 m1 b  P" D; Vthat means bank A have no money because we borrow 10 dollars from bank A
/ y( ]# L0 l3 b  ~Because bank A doesnt have enough cash on hand
+ k) t3 J8 c; a, ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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% r6 k8 R6 `8 y# [: A7 V* f0 y! L7 VA->B->C->D->E4 `  \) k5 B# A: P; r9 I2 g
so does it mean if E failed to pay D,
2 V% d6 E$ j+ e9 Y3 T. @3 _all the B,C,D,E have to go bankrupt?7 v( v* e9 p8 Q% m8 j. F
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9 ]$ C" u  D  @; i7 B% tthe multiplier just tell how much money created in a whole economy,
* r2 X$ Y7 f' b$ j5 [* l) C- t1 T# {in this case it doesnt really matter how much money is created, , @7 g/ q! G+ Z; @, A( t. _! w
it's the problem of the debt itself.
) S8 |6 i5 e+ J1 B! D/ N& T5 e1 jthe 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
  }3 ^/ S7 P2 m- s( e& W/ w小弟一直都唔明...: U; H; [1 l8 f/ C
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全世界都蝕錢，咁邊個賺緊錢呢?3 W0 G% x$ i: i. X: s

& h$ U( c0 X! B' P& u. n  Z無可能淨係有人蝕錢無人賺架嘛...
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3 d- ?# o: s1 s8 o% g敬請各師兄解答
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Thanks

9 G; F; g+ h5 ?. h* M4 O+ ~那些根本係 紙上財富  $ H# `  c* d( F4 A' \! e2 K
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$ X) x. e9 F! L

& D: b' F& X8 Xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. o5 _8 y5 V8 h當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 z' ]5 f0 H- ?: j
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
, b+ R5 G6 ~* f: w. l, E' {' {$ B個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ e% V1 J, w2 d
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; e- }8 j  c0 q, w/ E2 O
計番回報率就已經係50%,所以可以好好賺
5 r% o  X* p$ a$ {% _前提係銀行之間要互相信任先可以咁樣借法6 i4 X+ M  B3 c* A) n. `% m
同埋個市場既前境要係好先得  S2 P7 D2 ~1 Z6 z. p, J& V4 {4 i
但當經濟一差,公司估值趺了,物價不升反趺9 G, F- J& t5 |% ?' e3 x0 O
例如剛才說10蚊的, 趺到得番9蚊, , Y( U$ m; N' Z0 p+ `
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 e: Q; T8 S7 x
所以你就會覺得D錢好似蒸發哂咁' ^0 d, b3 P' Y. u/ p  Z. H( b
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你都可以當標野咁諗, 個樣野多人可以狂升值, " y0 g5 G) d- L) t+ V7 }" v/ X
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,
% x# ~% s& K$ o& a  j2 j淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ r9 F) W$ _6 X; A; X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
9 \) ~4 u# c1 L& A/ w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.gif2 X: D& w* s% H
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) N9 l) p: d0 S) I- s+ [5 N4 z  Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 N8 u' \' G& T2 J
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 k% R  \# r, v
咁你話d錢蒸發左去邊? ...

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* {- |! h6 C0 Z% \+ g正係咁樣
1 H( k# D0 P9 _  `4 n5 }$ 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
+ f8 U% d. t) |+ {/ p2 O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,  I: R' ?- D1 e* }, A
連國家都係問人借, 不停發債券, 印鈔票
& g/ Q" g' z2 u! z一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 z3 U% M' I- ]5 N& }+ t4 c
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* i! \9 z+ K7 j, u. K% N  ?
咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 [. M1 {* ^* m' }3 b# D& ]" O其實係...( h1 Z/ c; _  D  D: B/ `' V
因為以前未生產, 先消費
, i. x: G) _$ c2 d9 w/ n# n$ D而家就要多生產, 少消費