0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 _. r' e2 ?" u4 PWhy bank will sell 借據給第三者???
8 `% O5 R: \2 d  O6 n/ g0 D3 pI was so confused.....

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* g% |. b4 b6 k8 S; d1 ]5 r講到尾都係賺錢2 A) ?6 N' r1 I7 ^
so銀行可以不斷放款
# S( V* ^5 s3 e* c1 @美國的房貸問題散佈到全世界0 d' e. J# D. ^0 `$ B- G

) B* k9 [. P: J4 Q$ f/ ^; ^( r2 ]mortgage loan
% ^# X: _2 y8 q. e>conduit9 K5 `) x6 N, j. a; d% d
>RMBS(Residential Mortgage Backed Securities)1 b- W( k2 M8 u5 Q; s; O! T
>arranger
( ^; D" x, A; z. n>CDO(Collateralized Debt Obligation); F$ l+ z  G1 t, ^! H1 }
最後去到投資者

Kev

i thought it is the reason of rate of return.) t0 G7 I. o. G0 M0 M5 P& r
CDs could have different ratings, AAA -> F,
* x, ?$ V9 v( U9 I; M% f4 zmore risky ones would have higher premium (interest rate) as a compensation for an investment.
$ [" q1 E7 w2 g6 Z: F5 D8 T: `main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& V" H4 u; u9 n) D4 hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ ^, U0 \1 n! Z4 ^0 R! n; xAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 u% H6 N; O5 O. _7 w5 l
similar to bonds, CDs trading in the secondary market have different value at different times,
! ^- `& m; P! ~+ m, u: [normally the value is calculated by adding it's principle and interest.
1 K) ~+ \5 J" {8 n! ]eg. the value of the mortgage+the interests to be recieved in the future. 3 n5 c( v. Z0 c
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./ ^. C/ @! F- p4 `8 V
: ?8 ]$ Z( {# o1 ?3 ?" q
im not quite sure if the multiplier effect does really matter in this case.
  q) M7 w) R" T1 gin stock market, it's the demand and supply pushing the price up/downwards.
0 e% q  Y, Z8 O5 k% P6 s. c6 tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, p+ [* l" O3 E/ kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" y  k1 ]& P* m, ~8 zThe 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.
& c# ?* ^1 M- B# L6 ]6 [3 Ibut the value of their assets did really drop significantly.
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' U) ?4 u1 A# s* J: p- ~$ |[ 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
+ M+ w! v" V( L6 W! K1 YRefer to last example,
+ S3 I! i! x, @that means bank A have no money because we borrow 10 dollars from bank A
. O3 Q4 q7 b( C  N9 dBecause bank A doesnt have enough cash on hand
/ x$ S8 x$ J( Ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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% X0 ?! B! u1 L0 U, s5 Z4 B8 CA->B->C->D->E. V( s- Q5 J* T( b
so does it mean if E failed to pay D, ! v; d' s2 s4 d
all the B,C,D,E have to go bankrupt?7 U- t, N( X9 s- A" e

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the multiplier just tell how much money created in a whole economy, ! U+ T, K3 o. l% d3 Z" M1 w
in this case it doesnt really matter how much money is created,
: O% s1 Q$ J; I/ c; D% e$ ?it's the problem of the debt itself.
. E4 V' u% y% |9 w- y2 |! fthe 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
, d8 Y- h( E* g! K6 |小弟一直都唔明...( I$ s  R4 f! X' N  v

9 @7 B0 Q1 X- M. g& M1 ?6 [4 k全世界都蝕錢，咁邊個賺緊錢呢?8 R& J; v- _; J

: ?, j/ t/ r# W" b無可能淨係有人蝕錢無人賺架嘛...' G8 C- m9 X, j1 z; J* H/ s

' q: o) K8 h; R7 H% E  M8 F$ c2 L敬請各師兄解答) {0 D& X+ ~5 R) f# S1 h
0 ^  f/ k# I6 j2 C$ U+ ^
Thanks

! E! ]) ^1 s2 D# r! J! Q" |# p1 B% l那些根本係 紙上財富  
- b. e7 e8 {' M9 ]* v5 g: Z' {; 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
/ I2 ]% r8 O' ?/ P  d$ w8 ^3 l. y6 A! g5 s) Q( V& }0 T" b2 ~& H
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
6 O- E$ C& V0 c' w& T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, [8 g9 m0 L8 j- G9 ]" W, ?, 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, l3 \4 ~, A7 M8 I  D9 w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ w) m$ @" y+ [( a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 ?' f6 l: ?5 k  X! y& ^計番回報率就已經係50%,所以可以好好賺! q+ E9 @* n6 \7 x, s, j9 \! b) i
前提係銀行之間要互相信任先可以咁樣借法  k! z5 e- f( }8 l$ {, A( S' e" O
同埋個市場既前境要係好先得" U7 A( C* s* N+ U8 w) i
但當經濟一差,公司估值趺了,物價不升反趺
2 g8 G% }8 e1 l1 S例如剛才說10蚊的, 趺到得番9蚊, # S% ^; ^' ~0 C9 `* K
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' J+ d# m% d# Y) o所以你就會覺得D錢好似蒸發哂咁
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0 g) Z1 i" A0 U+ S$ H你都可以當標野咁諗, 個樣野多人可以狂升值, * ~) V$ j2 f0 a4 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,
. M- s; T- R& o1 f0 X6 N/ b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% E3 G6 T  ^; W' V2 D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( o% ?( O9 o( z( {, c& ~: }
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
% |& L, f1 m; A! k唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" M4 T' Q# O6 a$ n) Q# ^" K7 |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) y) C* _" B3 L" n" o5 s9 B) 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
5 o  \% \  s. e' J9 ~& f5 f: ?: [3 o咁你話d錢蒸發左去邊? ...

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; }( d. Z+ D; p1 c. x正係咁樣
7 \8 K' Y3 v4 r# }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
% z) e0 c. P- v( Q9 s分分鐘佢地唔使還錢
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- V9 b" q6 t4 r. l: Q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,9 v) @' J3 ^6 K9 ?% V( P/ g
連國家都係問人借, 不停發債券, 印鈔票
2 ]1 n. ]) J1 x! ^. F0 l, C' G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: q( _# c7 O9 w  i/ W4 K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  \- e! b7 S) O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; l8 m/ m+ O+ S4 d* a0 \6 V, ?其實係...
5 ^6 J" m* ?. m8 W- F( N3 g6 v7 D因為以前未生產, 先消費
1 ~) H1 I' g8 W" K( i, A而家就要多生產, 少消費