0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( s- R- o  A* ~9 N3 @: yWhy bank will sell 借據給第三者???/ a3 {$ Q: T4 ^! _' O- ~
I was so confused.....

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! F' g1 h9 _: w. G0 a0 x; |講到尾都係賺錢
! a* Y* T- ?; ^2 Qso銀行可以不斷放款; L2 L* {) F  ~# U! E
美國的房貸問題散佈到全世界# s6 d: d( O3 c' V- A
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mortgage loan
+ p, T2 g) }/ t4 O/ K>conduit
* m7 Q9 S4 a7 L. J; R  D>RMBS(Residential Mortgage Backed Securities)
# B, y% }: `! D) F>arranger8 b  Z$ `+ p: o5 b2 S6 S
>CDO(Collateralized Debt Obligation)9 i. D: r# A8 B) x
最後去到投資者

Kev

i thought it is the reason of rate of return.) J/ e4 i% ~! {. q9 S- Y
CDs could have different ratings, AAA -> F,8 {7 D$ T2 S8 n; S& i
more risky ones would have higher premium (interest rate) as a compensation for an investment.* D7 w% w1 |4 O0 r
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 e0 t7 ~% L8 V2 n  oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; C+ s. G! M% V3 D6 ^  q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 l# F" g) ?) S( h
similar to bonds, CDs trading in the secondary market have different value at different times," r  R! c7 O! R6 F& I
normally the value is calculated by adding it's principle and interest. 9 n7 G% E( E9 C
eg. the value of the mortgage+the interests to be recieved in the future. : q: e8 o% s! V8 T: R- J$ R
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.0 d/ u2 ]/ M- t
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im not quite sure if the multiplier effect does really matter in this case.! B8 p: F4 \8 j$ |" v+ l
in stock market, it's the demand and supply pushing the price up/downwards.
* ~7 p9 H& k/ z6 cFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% I3 N4 k5 p& a0 B# v' g3 K2 WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 c# {$ ]! e6 T4 HThe 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. - S4 g# \1 h' w! o6 A
but the value of their assets did really drop significantly.- P% ^: a1 w( ]' i6 c

$ K0 q0 P0 P1 Z0 ^0 c, L, X( Q! F[ 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
+ n1 l# ^+ _8 F- h, ?& b+ pRefer to last example,
8 O, r6 w9 v  T3 H( y: R$ \( othat means bank A have no money because we borrow 10 dollars from bank A , R7 g1 J& f) z6 {# G
Because bank A doesnt have enough cash on hand
" k& |. m0 [$ f( k" Ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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) Q* ]" q6 |% s6 g9 d% k( S  OA->B->C->D->E3 |' y1 ^" P# |' A  G. y
so does it mean if E failed to pay D, + i  J- @" R; ?9 }- L+ c
all the B,C,D,E have to go bankrupt?
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! z, f2 Z1 M' h1 t1 a# p; P$ }the multiplier just tell how much money created in a whole economy, & ?3 T" `) B9 F; ?5 i. d/ W
in this case it doesnt really matter how much money is created, $ \8 p& N% ]0 U* q
it's the problem of the debt itself.
; G4 E- M& j2 ?; l( X6 p/ _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.gif0 S, A% N+ s' c5 L3 T
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?" H/ w! |" l( J
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無可能淨係有人蝕錢無人賺架嘛...+ `7 e) P+ w6 }; B, y' F5 n; E
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敬請各師兄解答! `8 M  }" l) ]" F: e

5 [% Z, U2 S, lThanks

- W/ j& M/ ~0 [, W0 V, F/ z! K. V' z! F那些根本係 紙上財富  3 _% m7 m- h8 j/ D; v
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, H0 _( {) q  t- H9 _0 \# f
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ w0 U  n3 j9 ?, C* Y$ d  M2 J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5 D- V5 S* i  o6 D! D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; T' _; E, I2 N5 E/ M1 m扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; _+ |1 o* ^* x計番回報率就已經係50%,所以可以好好賺
+ T. _1 k, N9 n) ~, m2 D6 d3 H- _前提係銀行之間要互相信任先可以咁樣借法
; r% p, K& R; R同埋個市場既前境要係好先得
7 B& W% ?: O$ V1 Y但當經濟一差,公司估值趺了,物價不升反趺
7 i! `  L" u, {8 l) c例如剛才說10蚊的, 趺到得番9蚊,
6 O2 n; w; W0 _咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 ~& X# A; j1 ?$ X/ a4 ?- V" 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, & ]; j! y5 f+ A2 s# X$ Q. J! a6 S
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, + |+ }( H5 B6 I& ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% f) c- q) z/ b, M. 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
5 Z8 X* y3 ]6 V1 v' ?0 ^0 w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.gif6 X% C4 u7 ?) A) e- q8 `  e; M2 s9 Y
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: j( e, E$ j$ N# Y* G: x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 U# T# K. y; E" v  p4 l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 ~" F# T. C- y7 p5 T( K
咁你話d錢蒸發左去邊? ...

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正係咁樣
( \! y: [; `: d7 P! E8 I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 a9 W! Q; B$ w& u: s分分鐘佢地唔使還錢- o" R6 T7 _* q9 J) k0 U( l7 I
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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,# i# T& ^+ |2 s1 a# Z: [9 x' q! S
連國家都係問人借, 不停發債券, 印鈔票
( X0 p$ ]) B# `8 x" i' I, B6 O一個國家好少出口, 而又大量入口 ,反映到佢唔多生產9 ^! X& T% _3 |4 b) w- @9 R4 P
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.gif1 M% f6 `  r; W
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...0 L9 N- c, C  g3 R+ |
因為以前未生產, 先消費- o8 m1 A# D7 q
而家就要多生產, 少消費