0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 f5 I6 V9 C. {, u$ k
Why bank will sell 借據給第三者???4 x9 }8 N  A2 _& S8 R/ j
I was so confused.....

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; j% o& D' j1 e講到尾都係賺錢
- J4 l& A& n3 ?- Rso銀行可以不斷放款9 @  Q8 k" J- R: [! G; w
美國的房貸問題散佈到全世界1 c7 ]. V% ]# }9 B/ m; u8 t2 r
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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+ r+ K% F' J! l! _( ^6 ?>CDO(Collateralized Debt Obligation)) C2 ?' }( }7 J: H7 y7 Q
最後去到投資者

Kev

i thought it is the reason of rate of return.
8 q3 C' Y; n/ k& g! ACDs could have different ratings, AAA -> F,% ~0 |' D- M  b# k
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& n1 J+ F+ Y0 ~main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* n, [8 }8 ~4 E7 }4 T% u
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 s( V1 B1 |$ O% s. h2 [
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 l) t) t* `! D; P. p: I
similar to bonds, CDs trading in the secondary market have different value at different times,$ Y! F5 b1 B! V0 f& m, N( {
normally the value is calculated by adding it's principle and interest.
- j- ~' o+ T- u8 g- b% K) feg. the value of the mortgage+the interests to be recieved in the future. : a/ I) H+ [5 B% P6 k
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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9 N$ C. [; v; Vim not quite sure if the multiplier effect does really matter in this case.
$ S* w9 a0 Q* b4 \* Q) \5 _3 Q/ B1 Min stock market, it's the demand and supply pushing the price up/downwards.& i; S! T3 ^! }
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) `! w( n* s: _$ n! H0 R# F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 W- r% b$ q: y! E/ w% ^" J9 R3 s, I
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. 5 N9 v4 T5 f$ l% d* b; u' @' j4 E& g
but the value of their assets did really drop significantly.* w, p/ L% X) z* s/ ]) J; {) q
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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! P1 r: G+ @) t9 a  b( [% o/ W
Refer to last example,, o) X* n: D4 O3 g9 E
that means bank A have no money because we borrow 10 dollars from bank A $ W, \$ J7 U5 S, I8 ]4 X
Because bank A doesnt have enough cash on hand / B; k. {% K" d2 J
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ V6 U4 i& t# ?  m
so does it mean if E failed to pay D, " U6 ~* R3 L2 j+ Z7 U6 _# R
all the B,C,D,E have to go bankrupt?
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, d/ M0 b5 ^% s! w! y2 E- z; e! \7 ithe multiplier just tell how much money created in a whole economy,
0 n; k* {7 ~5 k7 {% rin this case it doesnt really matter how much money is created,
' B. F  T, K* K) @- o) G3 v, t" N; [. Bit's the problem of the debt itself.
5 N3 w; b) X  k! _4 J$ b4 R1 x) Nthe 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.gif8 G& z" T$ S% Q
小弟一直都唔明...
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9 W4 f: m: ?( l0 y' E6 H全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答, y& g( }3 C7 x5 B0 T& ?

! Q. u+ c( k4 P3 \$ qThanks

0 \8 J3 G/ L. n" z! Q' _那些根本係 紙上財富  5 h6 D2 E  P( b) x
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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- l6 _; ]1 D" @) `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
( c, G1 m# N) v. E# `. x) n3 u當經濟好,投資銀行相信會賺錢, 物價既估值相對較高1 m) r, j- p1 L0 O3 G9 c) o
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8 X' u6 @& t* \
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 e! |# h% G5 Z! A  ?; [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 u1 F3 o8 Z) }! f# R5 M計番回報率就已經係50%,所以可以好好賺6 y4 `$ k! t" |
前提係銀行之間要互相信任先可以咁樣借法# C: x! W' a6 q" h! Y0 Y* x# _$ A/ u
同埋個市場既前境要係好先得8 f# e4 U  U3 t& D, d
但當經濟一差,公司估值趺了,物價不升反趺
+ g# c- ], ]$ k例如剛才說10蚊的, 趺到得番9蚊,
7 E6 ^& a8 w% Y+ C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) p. J; k! {0 f$ l! n5 y1 T7 G$ O所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
* t2 ^0 a% p4 a4 y5 J) ?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,
. C8 [% z6 v  B4 |. k6 X# Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. l4 V" B( E( 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# _% K- _% H6 ^; P3 f7 |9 [
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.gif5 ?  G: X* b6 P) [+ e
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( I# h, |2 |/ J( Y  H3 x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + i5 C% K; Q2 w/ B) s6 U4 {
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) x! p' Y6 ~; n- N3 h/ [( y; k) L
咁你話d錢蒸發左去邊? ...

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正係咁樣0 x, B8 ?7 w2 R/ p
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) F7 s0 H8 C) l+ J
分分鐘佢地唔使還錢
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0 `; J3 ~) c$ s% `) R' Y% L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& X# Y3 ^5 k. |( w/ u" B" P連國家都係問人借, 不停發債券, 印鈔票
- s+ b, n# e  u  S$ l一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) u2 b  S) N9 ~0 W9 R7 E
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.gif6 K  x, m3 e/ I# j) w
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; m" u; b) h2 q1 I, j; h$ u% a& u8 q& G其實係...; J/ E, C9 J" }6 \9 y* |$ z
因為以前未生產, 先消費7 i4 m2 d4 X! w/ q: ?3 j
而家就要多生產, 少消費