0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) b; ~, n% R/ P5 v* J# MWhy bank will sell 借據給第三者???
. ?" G$ X* V6 V( @# Z) Q0 g" J! ]I was so confused.....

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講到尾都係賺錢% g3 x8 m  N' H( z: E2 J
so銀行可以不斷放款, b3 O2 j( \% V/ X
美國的房貸問題散佈到全世界
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mortgage loan
9 R8 n1 Y/ e, Q% H# ?>conduit
% C! ^" u" |/ k( ^( q>RMBS(Residential Mortgage Backed Securities)
2 U/ S. l4 ~# ]2 e>arranger* U4 l" Q, l9 c0 e9 `
>CDO(Collateralized Debt Obligation)3 m3 n" b7 k' W$ a' T3 d
最後去到投資者

Kev

i thought it is the reason of rate of return.! A/ @3 Q6 d* p- D: ]
CDs could have different ratings, AAA -> F,
+ C' P$ }0 A7 ?# o" z4 t. e& d' Kmore risky ones would have higher premium (interest rate) as a compensation for an investment./ R0 ]& X7 }  u0 q+ g8 \( O
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" M& i6 s, o/ T5 `# z1 L. `in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 d$ N) N4 H( D5 s: U$ Z$ x6 \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# }0 N& ]: W6 w1 L
similar to bonds, CDs trading in the secondary market have different value at different times,
. O/ X- u  b0 Y" Znormally the value is calculated by adding it's principle and interest. - t1 {& T" m  _5 t6 E4 z
eg. the value of the mortgage+the interests to be recieved in the future.
. _, n+ K# A/ V2 Y2 R3 _: l( gbanks 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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1 e5 ^- D3 `: j& D0 Uim not quite sure if the multiplier effect does really matter in this case.* B; q  x. s) R8 w7 j+ K
in stock market, it's the demand and supply pushing the price up/downwards.9 D0 n' h0 K1 @) b% j1 @8 i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 f5 ~  V$ h1 Y9 k; D% H0 @; O
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., F- _: q* T4 W) D* G
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. # c! s# ^! z2 i( C
but the value of their assets did really drop significantly.5 D2 W0 V' {) w. n4 D* h& k

+ [; F( P. a' d' }! V[ 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* O* C0 H9 x1 P" |! z/ V0 m
Refer to last example,9 L6 y, }7 I* H/ \7 ?( z' @* n3 `
that means bank A have no money because we borrow 10 dollars from bank A ) ?. l2 T8 v1 N2 y2 u# V+ j
Because bank A doesnt have enough cash on hand
2 L4 g: o0 ]* Q. C* S, @therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
+ B3 q9 h; k: ~% {+ O% Aso does it mean if E failed to pay D, * X: c, N; o- \" w+ M  S8 M* f
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, . e6 |. t. z/ s8 E) s
in this case it doesnt really matter how much money is created, 4 p- O2 t" ^4 ?2 S  a& n0 E6 z) i6 t
it's the problem of the debt itself./ a, c) }( E+ a8 r( e4 F
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.gif6 {& U0 f" K. \; v( @+ m
小弟一直都唔明...1 w5 v0 a5 [8 ~
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全世界都蝕錢，咁邊個賺緊錢呢?9 c. P+ P% b% x& M4 j0 X% b

1 j# z( P# T  \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1 a# D2 g' h; X; s5 c. K/ p$ g  q( F

0 ?7 R( \  b7 ^1 GThanks

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那些根本係 紙上財富  7 v- i  W6 i! I1 l& u
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, r: R9 h/ g8 j. t  m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! |' B) r4 {+ O- N3 ~: `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7 G. }7 o! w/ T6 q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ l  Y! n: c2 k! W3 [* K
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 n0 s! O* @6 x  A計番回報率就已經係50%,所以可以好好賺
6 ^* m- s9 a; m前提係銀行之間要互相信任先可以咁樣借法
7 L( j( k- G4 w* B; t' p+ g同埋個市場既前境要係好先得* a# s4 b4 z2 z6 }  n0 q. Y
但當經濟一差,公司估值趺了,物價不升反趺
6 j) U. }. O; B+ I  \3 F例如剛才說10蚊的, 趺到得番9蚊,
1 \" H; T1 k* M: K- q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, m, I# V8 L0 j: G2 ^所以你就會覺得D錢好似蒸發哂咁4 f5 [( S, r/ ^, d% q
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你都可以當標野咁諗, 個樣野多人可以狂升值,
% ~* d5 H& W2 n8 G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,
. n, L8 M. ?& B6 K$ ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. K# _6 H4 K3 ]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
- D/ ]5 X7 \3 ^# n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
5 Y- t6 J9 a* }  N, b唔係d錢蒸發, 而係比美國佬洗晒未來錢,   h" [$ P& y- T$ v0 z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # ^/ C- w- _4 d( _; i
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
8 t8 G4 A% h% F( j; s咁你話d錢蒸發左去邊? ...

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: @: O" s. {; V) }- I( y正係咁樣& {: l' g) J( S2 ?" I: A5 A
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  p8 {( ~! X% Q4 A5 |: W- v
分分鐘佢地唔使還錢0 }, O3 |1 r3 e: t2 r; C4 W
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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,# X. v( O$ {  S, \0 ]3 t
連國家都係問人借, 不停發債券, 印鈔票
( x/ J: e0 q( K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; m8 r8 `4 M' G0 D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
8 }8 I3 Q! `8 J- D8 t咁而家"爆哂煲"算唔算先至係變番"正常"???

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" x1 [: ^" \5 m7 c( F0 _其實係...
& c% D- o* ?3 c0 m* R因為以前未生產, 先消費; H) v5 j) J3 M. u7 Y
而家就要多生產, 少消費