0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif& o) a- V  W6 E3 G
Why bank will sell 借據給第三者???. r# b6 h1 R9 ~. R* M
I was so confused.....

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5 x0 U! ^+ G/ |' `- f, U講到尾都係賺錢
* k5 ~" @0 V7 S) Z2 B5 Vso銀行可以不斷放款# F3 V4 f* M& d3 [" U  m, L
美國的房貸問題散佈到全世界
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mortgage loan ' J0 v+ z2 K  ]. ~4 b# {4 B2 F
>conduit0 g: z; g$ X% T0 ]8 }
>RMBS(Residential Mortgage Backed Securities)
* ]" t7 p' j- B3 [5 g5 n% U>arranger
5 r5 S& X& }# E5 w+ d>CDO(Collateralized Debt Obligation)
( h$ i) S$ ]) Y; a4 ^3 s8 U1 V最後去到投資者

Kev

i thought it is the reason of rate of return.  W2 q& K+ y$ d5 P" k1 K
CDs could have different ratings, AAA -> F,
/ X& q7 S: [4 j! ?4 i+ nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ d' G( j& R$ s. {  kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," g+ J. S; [9 K
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 V: j9 q+ `/ r1 K) G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 K& I& _1 S8 O( Hsimilar to bonds, CDs trading in the secondary market have different value at different times,0 A4 {6 r# U2 C, E# ]* d
normally the value is calculated by adding it's principle and interest. 2 b7 y% _% S, e+ |" B" Z  n
eg. the value of the mortgage+the interests to be recieved in the future. * L) ~  c: P  Z/ F. |
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.. v# Q3 x& s: s

; ^7 y4 L; t/ u0 _im not quite sure if the multiplier effect does really matter in this case.
4 ^/ D% N$ ^4 _6 |# q  Z+ j$ Din stock market, it's the demand and supply pushing the price up/downwards.! U# X2 W5 C% u- k4 V
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  I0 C5 s& K9 |4 @1 z5 j
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. W$ ?; |3 _/ Y; h7 iThe 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. ) l1 ]! [% _6 C* Z+ ?- D
but the value of their assets did really drop significantly.8 k; \5 ?' Q! R, X3 K

0 Z; o: g1 w3 r  T7 S[ 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 S2 R' w8 R  ^Refer to last example,2 w+ f/ T4 K. N* p; r
that means bank A have no money because we borrow 10 dollars from bank A & [. [8 _9 W' A) l5 Y# j' `# a) V- N
Because bank A doesnt have enough cash on hand
0 V! Z; Z; e3 r3 E: I( W6 Z" itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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: K! ]" u9 ~# }6 I2 mA->B->C->D->E
& m) b  H5 l7 V* g3 d; \; yso does it mean if E failed to pay D, - R* l' r8 J- m& I2 \/ t" M
all the B,C,D,E have to go bankrupt?* M- ]( }8 p! d, Z# X
9 }7 Y3 O& F7 E( r

! ?7 D) C/ ]: W2 Gthe multiplier just tell how much money created in a whole economy,
6 q* K$ o7 h- }" ~7 W4 |: Tin this case it doesnt really matter how much money is created, 2 a3 b  t4 i5 O2 V2 y9 C. k
it's the problem of the debt itself.. }) ^" y* V3 v! |. r0 ~
the 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
" U* R; ^) Z$ P小弟一直都唔明...% ^5 H/ M0 I& `$ I

* n6 D( d; O' `* J8 F全世界都蝕錢，咁邊個賺緊錢呢?
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# _* K. X7 w) Y0 F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4 {' L; \% Q5 M+ o3 N) _* J! A

5 z: _1 D) ?" b' F' ~+ e* VThanks

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那些根本係 紙上財富  , N) L4 A5 z! C+ T4 @
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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; {. @" Z$ q$ i" i0 `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' T$ d- n4 m! g
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" J4 ^7 r, G* ^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
! i8 g4 K- B* S& Q8 y) b9 m, H& Q$ `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 d8 I4 i" q5 x7 @扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( V3 N0 ?1 m. i+ @) Z, t# i' E
計番回報率就已經係50%,所以可以好好賺/ o3 |5 C6 f, r( ~$ m9 [
前提係銀行之間要互相信任先可以咁樣借法
# c- L! d- [' M6 s! W6 u. @; ^同埋個市場既前境要係好先得
0 `+ Z1 X& Q+ n- F! a  L$ {但當經濟一差,公司估值趺了,物價不升反趺& Y* u7 _- T! A" k0 Y; d+ f9 v
例如剛才說10蚊的, 趺到得番9蚊,
9 O: |/ U3 f( `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 B: z. U9 Q5 @* {, k2 u$ B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,
, F& W6 H0 C: x, U: M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, ! L2 @& X9 ?/ H. t. D( E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * }0 @% l* u+ u% j/ V/ H7 c0 z$ 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, R! X6 [" o8 r* Z; V8 x# x# V4 ^
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.gif9 h$ U1 t, s, e: B) ?- _. U9 S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ c; [2 x) |% I: m4 @/ U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 d& b/ o  c$ Y5 a9 t! B$ R3 l1 ~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
# e, V2 C0 t$ n8 I4 V咁你話d錢蒸發左去邊? ...

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正係咁樣
  y- i6 W, I: S2 T% y* }: P" q9 T0 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
3 B/ b( ]4 c) _' {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,
0 A: ], Y& [2 v# s& z連國家都係問人借, 不停發債券, 印鈔票
) M( E* @- }. }1 u9 q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: R: A3 M' @! X, V1 j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
" `5 R. Y& W! r" {4 D# L' N咁而家"爆哂煲"算唔算先至係變番"正常"???

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; T" M1 t8 I! Y6 j: t# o* c4 e其實係...1 @& S: X+ e# t; r
因為以前未生產, 先消費* i; Y  y# Y! g
而家就要多生產, 少消費