0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
+ F6 i6 ?6 x3 |2 b9 B. o$ CWhy bank will sell 借據給第三者???1 t" h$ S# q  j
I was so confused.....

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講到尾都係賺錢' u9 h) r+ c' O
so銀行可以不斷放款! {# [, w8 u8 ^5 T
美國的房貸問題散佈到全世界
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mortgage loan
7 o3 o. ?# y: p2 V% U>conduit3 U* H- V9 d: N, D* w/ g
>RMBS(Residential Mortgage Backed Securities)
4 `: M# z6 z* t  y. r( U5 Z( O' k>arranger' [* k% N' W2 F: A5 h2 P+ v# K# W
>CDO(Collateralized Debt Obligation)
. s: B- m' m4 |4 B' c: H最後去到投資者

Kev

i thought it is the reason of rate of return.
  |: O. {9 K) SCDs could have different ratings, AAA -> F,& h' q  c; h. E: s+ a1 t
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 w% y* W" ~8 z% n9 lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 j& A( P: e- M- p
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ b; r" b) p3 W( z+ h6 ?; UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. h6 a4 y, {$ Y$ x& x5 n% ssimilar to bonds, CDs trading in the secondary market have different value at different times,0 @1 ]: w) }6 D* U( c6 Z
normally the value is calculated by adding it's principle and interest. / U+ R5 v. W1 T* t$ n+ {
eg. the value of the mortgage+the interests to be recieved in the future.
+ C7 r. \4 E% tbanks 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.: e6 k% b' t" |, w" _/ q! F0 M

6 y6 t& \3 f. G, @4 ~: Yim not quite sure if the multiplier effect does really matter in this case.1 Z( f; V  K$ p5 K& K
in stock market, it's the demand and supply pushing the price up/downwards.
) ~9 q( x6 o+ ^. l! d, OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 R" S! P3 W; r% k6 H+ Y& q9 x
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 U4 ]% k+ n- f: v. fThe 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.
  I1 n& l* X- ~3 j+ o, ~) ^but the value of their assets did really drop significantly.
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7 |# G- Y* L+ Q" d[ 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
" n! V  h& `. ?Refer to last example,; `! V9 y' l/ J( F: {: _0 ]
that means bank A have no money because we borrow 10 dollars from bank A # z# n( T+ W& E; x) {( f
Because bank A doesnt have enough cash on hand
: f: D1 I/ i9 e; w: v8 Stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
( l, Y% F) L1 y7 F$ D" _so does it mean if E failed to pay D,
+ i( l6 z* n3 s  b' b; Uall the B,C,D,E have to go bankrupt?+ H$ b. r: @/ t6 P6 o$ [3 x1 ^
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  ^, ~: d& W1 h9 S/ H' f$ e. d' Xthe multiplier just tell how much money created in a whole economy,
4 n' S9 _4 N( U' w7 q8 @in this case it doesnt really matter how much money is created,
5 r3 O. D6 A) C! u3 x* ^& Ait's the problem of the debt itself.
. k7 c( h3 Y' m4 qthe 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
) Q2 r- J, J% k* ], X) F小弟一直都唔明...
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, Q# f4 P) _; @: O全世界都蝕錢，咁邊個賺緊錢呢?0 w4 g! H) J% l, N4 ^3 I: j# ?
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無可能淨係有人蝕錢無人賺架嘛...& Z7 \. l9 c% N* |0 X' c- |
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敬請各師兄解答( _" I# P- L+ x, z

$ q5 E5 m5 E3 BThanks

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那些根本係 紙上財富  ! `8 P/ I/ J) p/ L5 m. Q
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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fderek

其實個D錢係你可以當係虛擬資產
9 d8 b. O8 x4 t- m+ q8 B當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 Y! e  }% Y# B" x: H/ 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
4 {" h, ~2 E9 u個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. I) W& W1 K7 d% G% C2 Y9 @
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& e+ K' E3 W2 u( V* ^& T計番回報率就已經係50%,所以可以好好賺* G, x( `/ ?' R* _  U
前提係銀行之間要互相信任先可以咁樣借法
# B; p0 j6 }& {9 R; ~2 d同埋個市場既前境要係好先得
" h, V+ C8 t3 |- U& V* V! S但當經濟一差,公司估值趺了,物價不升反趺
9 i  O( U) r& p% E8 W例如剛才說10蚊的, 趺到得番9蚊, ' O! R* b, m+ V& J
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, M1 {' ]4 x) m) 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,
6 E! ^4 G9 ~7 A0 A1 O' 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, 8 I8 W/ ]4 z2 z" [" M. z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 F% \  u2 ^# }5 `) R1 e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
( [: c+ K0 u( f  _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+ n1 [. Z: e8 I3 j) J9 P' r
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
, _" F0 r7 [, X1 W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 X# F! W2 Y' N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3 f: v8 u8 e. }0 _8 {, {. c
咁你話d錢蒸發左去邊? ...

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5 S& V: U' p  b3 b2 K, Z, |正係咁樣
" r- N, D, F1 o0 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* G' \% W* b) o$ t! }
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,
4 K. G- `9 g2 u* I/ f% y連國家都係問人借, 不停發債券, 印鈔票3 `( p6 q6 j( W: ^: H$ u' Y. i2 r: c, F
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 }" c) `1 k* I/ Z0 G
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* y$ q2 }% r2 {, z! R3 n
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..., q9 O: n) a" Q; t
因為以前未生產, 先消費6 j& i4 @; W9 y( C4 d
而家就要多生產, 少消費