0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 w1 h+ a$ k* u8 hWhy bank will sell 借據給第三者???
8 n4 D4 t: ^6 P$ v" \1 VI was so confused.....

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' j+ a( e. p" y+ F, @講到尾都係賺錢% Y* ^9 @5 d; C; P! @8 R' f; q  D
so銀行可以不斷放款, c: k. i# e0 u! i, m& j! f* \
美國的房貸問題散佈到全世界- o5 @( l1 D+ T# f% e

0 K( s- a: B4 }- l+ z* Y; g# w8 }mortgage loan & E( A% P- b% W+ ^8 E
>conduit9 ~- D9 |" ?1 w
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)+ h- q) G0 V6 A" ^3 p: [) h
最後去到投資者

Kev

i thought it is the reason of rate of return.( ]. S8 v4 [) w6 [& v0 n
CDs could have different ratings, AAA -> F,
) ^2 J" O* [1 \, d# c; ^) K2 wmore risky ones would have higher premium (interest rate) as a compensation for an investment.0 b( R; B4 V- p" P
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ k, i8 m# c0 E  }2 S# A& Qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ H" s( W7 ^7 T6 |8 b& \0 p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  h$ B  u1 T; U5 ]! l4 l0 z& R
similar to bonds, CDs trading in the secondary market have different value at different times,9 u  T7 h& q3 C3 S8 \8 _9 u9 _5 y7 n
normally the value is calculated by adding it's principle and interest. ' Y6 ?& b: e9 j
eg. the value of the mortgage+the interests to be recieved in the future.
1 V4 s3 S9 Q1 {: Hbanks 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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im not quite sure if the multiplier effect does really matter in this case.
* W/ Y/ O! B) q  Q3 uin stock market, it's the demand and supply pushing the price up/downwards.
/ e  ?; c0 q; r7 L$ L% ZFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 n0 s3 J. A: T# R( w; bA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. Y$ F! \4 s1 I1 d( C' d5 N
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. ) D. N8 \0 f7 G0 D1 w
but the value of their assets did really drop significantly.
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$ a- u3 }- I) I: M/ E5 V* _8 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
. p& ?% r+ t% h/ x5 W% fRefer to last example,
; m/ K% A4 e) xthat means bank A have no money because we borrow 10 dollars from bank A
' m* ]1 t: D( R; R1 FBecause bank A doesnt have enough cash on hand 5 \* s; H& z9 H1 {1 L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 t$ m) D9 h, P# Lso does it mean if E failed to pay D,
% [2 B! T8 p5 `. l( R$ s4 y1 Sall the B,C,D,E have to go bankrupt?
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7 w3 D+ U. d% e+ o" ^the multiplier just tell how much money created in a whole economy, ; R7 Q0 X1 l1 f5 k5 W# ]2 j$ v
in this case it doesnt really matter how much money is created, $ M* `4 b" j8 c9 A
it's the problem of the debt itself.
" T( j1 N4 R  d4 b, Tthe 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; S% s. q) ~* a- |  {
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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- h& S+ Y4 l, F* _: b6 a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
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5 l' W  \6 K5 C" T) E4 TThanks

" z3 [! d6 y- {* }那些根本係 紙上財富  
6 y: V" ^: x+ e- z/ N& s# @9 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
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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
% T; c+ G$ z' n* D( r當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 n: W- X- A- I+ o9 _5 c7 M+ V
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% C( l2 ?! @% h/ P9 ^" W
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 K. Q# V" ^6 g; x7 b& `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 P+ w# P, p! z7 x, M3 A1 t9 P
計番回報率就已經係50%,所以可以好好賺: W5 v3 t" F: z  l) H+ U
前提係銀行之間要互相信任先可以咁樣借法. W6 R  T& ]* D5 c: l4 b$ Q! X) D
同埋個市場既前境要係好先得7 U3 O  `% h/ g: C* ^8 _
但當經濟一差,公司估值趺了,物價不升反趺# E+ k; H. M/ m/ A; ]) j1 c# [6 ^! k
例如剛才說10蚊的, 趺到得番9蚊,
* D% l4 E' W3 h5 G4 E  v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 u' H; v. K; v) s$ H+ b1 `5 N
所以你就會覺得D錢好似蒸發哂咁
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+ i' `, m' r/ w& ~. V. n你都可以當標野咁諗, 個樣野多人可以狂升值, 7 ]3 N  Q) j, R# {8 \9 G8 I: T
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,
+ n0 z6 m( B7 V: P' P7 L1 h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 W9 W: v1 {- |; k" e7 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+ K3 R/ {) m* d7 Q* s# l3 ]
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. X& _/ c5 N) ^: n* m8 M1 l+ T. o
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 _! i7 [3 X% z9 O+ x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 N( v7 ]9 c) Z
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
# p; ^# v: ^) ^' B- y咁你話d錢蒸發左去邊? ...

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正係咁樣
5 \4 J" }8 H$ a, y3 e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# W) _3 }2 ^( Q6 C) R
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,  ?, j7 V% K; e" S, E
連國家都係問人借, 不停發債券, 印鈔票' V$ k; c! F0 `  @% t# i
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) B# z+ a8 z; k/ ]' |9 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$ ^6 U$ T1 F# a5 |
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
) k0 n9 Q- r* y4 L! k8 Q# y4 F因為以前未生產, 先消費' {! ?0 K3 f2 l! T( S7 K6 r, i# V4 }  v, ?
而家就要多生產, 少消費