0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  k% x. u' \4 x# a; F% |( g
Why bank will sell 借據給第三者???( Y2 n; l/ I, P" f
I was so confused.....

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講到尾都係賺錢9 a# L: W& q1 L9 L! f: |% g4 L
so銀行可以不斷放款/ X9 k& ^" r( Q; L+ I' |$ p. S. K
美國的房貸問題散佈到全世界9 A8 ~) r9 \8 }* e- u
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mortgage loan
& @% q- Q- T1 R# |>conduit" @: H% a: U8 G# R3 O; c
>RMBS(Residential Mortgage Backed Securities)9 }! @' m4 r. n" Z) j3 I- ^) D
>arranger1 c' y& I9 F2 }: T9 x
>CDO(Collateralized Debt Obligation)* V4 g  ~  t% {! Y
最後去到投資者

Kev

i thought it is the reason of rate of return.
+ j1 I- e+ Y4 e4 ^9 I! z  VCDs could have different ratings, AAA -> F,8 `+ G; B/ H4 Y: X' K
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 K9 l% T" {, e: [6 Y3 V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 U0 f: `9 A3 {- Sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# b, ~9 r6 n! W/ w2 g
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., U4 J' c, h% M* ^  n
similar to bonds, CDs trading in the secondary market have different value at different times,$ e* S$ P  T: Q0 W
normally the value is calculated by adding it's principle and interest. / W$ ~4 @" d/ @1 i2 ^# W2 M
eg. the value of the mortgage+the interests to be recieved in the future.
5 ?1 L8 P( O7 {. x/ K8 K; {7 ubanks 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.  J  S' H* H( x; q
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im not quite sure if the multiplier effect does really matter in this case.
3 f7 l+ Y( m7 c' q6 w3 w4 K. ]! Cin stock market, it's the demand and supply pushing the price up/downwards.
% G/ t( [. K1 E! D  ?+ S# QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 F/ J% ]" n9 @. m4 LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 D# p9 O6 Z& e" G4 c8 \, Y
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. $ i7 n* X. G5 y3 G( d! V
but the value of their assets did really drop significantly.: I( \% r1 n2 a7 v) S5 B' i8 i

4 Q! m# I3 ~7 k6 w8 Q[ 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
3 A" {6 d2 F- zRefer to last example,- u% m5 G2 e8 ]
that means bank A have no money because we borrow 10 dollars from bank A
4 T5 A" z! F( \* f: ZBecause bank A doesnt have enough cash on hand 7 D4 h! w/ I- u" Z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; ?4 N+ \* J6 l3 {7 r- T, qso does it mean if E failed to pay D, : b2 K) C& ^) Q0 V2 R% W
all the B,C,D,E have to go bankrupt?/ i2 u/ i  U5 G, N# H: o
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" U( a3 W+ S" ^  N( P5 ~the multiplier just tell how much money created in a whole economy, , l/ c2 d8 ]; E' P3 X
in this case it doesnt really matter how much money is created,
4 |+ v" c; n1 }it's the problem of the debt itself.
  }% }) o/ N) v) ~* Hthe 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
0 B! V0 I9 C* ?# y6 U小弟一直都唔明...
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- w0 C( P8 f9 e- g- R  }9 u全世界都蝕錢，咁邊個賺緊錢呢?: R7 c6 W* m# l9 `+ i2 `# c) @) i
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無可能淨係有人蝕錢無人賺架嘛...
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$ c  x5 i/ v! z" f8 F" M/ u敬請各師兄解答
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: C% ^" H, |% Z) |Thanks

0 h4 {7 `+ G& Q那些根本係 紙上財富  2 }1 x9 V( V  `) g
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/ \2 W/ o/ @- L0 |6 P/ {
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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
" W( I2 X2 k0 m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 n2 O7 W3 ^, J! l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
6 D0 q( A. [- P$ n. D& T* p8 d9 h1 Z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 q  Y  x( X, i& y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, h6 S  r: y) w3 @, L計番回報率就已經係50%,所以可以好好賺! Y$ s5 J' \$ I6 T1 Y
前提係銀行之間要互相信任先可以咁樣借法6 W0 o. z0 [9 L3 x) w
同埋個市場既前境要係好先得( q- R+ w+ D2 `" Y* q+ c: S
但當經濟一差,公司估值趺了,物價不升反趺' S; Q7 z- `$ R; L5 g
例如剛才說10蚊的, 趺到得番9蚊,
9 s) N' n4 H" \  ~. v  {% y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( |3 h* }% D+ I0 m7 L3 K& X8 b3 e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, $ g+ B! Q2 x$ z) Q  I" j# 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, 3 ~, A) |. i" K- |5 q$ m" t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 W- n0 G! R# U4 o; X' \" T: k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
+ }: ]% Y, g, @  k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/ [0 D- X; e) T3 B
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# \3 m% T( p6 u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& \/ P& f1 P5 s- ^. D; C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
. B$ h6 w: ~# w  u' W/ ~4 D咁你話d錢蒸發左去邊? ...

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正係咁樣$ Y! c! o  _! W* C. B
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
) S0 k4 c; g% V分分鐘佢地唔使還錢$ j2 j$ }$ [( u

9 g. _+ h, I  F& l/ f$ f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,
( y6 G8 f* B7 c) H# p) _, J連國家都係問人借, 不停發債券, 印鈔票
5 L2 t& P$ P: L) o; N一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 |$ q' p  H; [3 `" Q7 N
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, C! H$ g$ ~1 Z% \8 W0 a
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...6 ^( K% f- x0 E7 N! l9 ~
因為以前未生產, 先消費" a. r2 V5 B( b
而家就要多生產, 少消費