0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* N7 U0 a  w9 s! u, z0 b* e5 n7 K
Why bank will sell 借據給第三者???
. ?" G/ Y3 e, ~0 m# P4 F0 UI was so confused.....

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講到尾都係賺錢
9 \8 E. k/ I  jso銀行可以不斷放款
4 s$ [0 ~# u2 ~" _2 s9 P; D美國的房貸問題散佈到全世界/ S0 y# v4 t9 g- c
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mortgage loan : _, U# R. ]6 ?) `9 d+ T' O
>conduit! [4 x$ Q1 K- W: _# o
>RMBS(Residential Mortgage Backed Securities)
. A1 Q5 m0 a+ l  ~# m>arranger
" C/ o5 t- _( K3 b: a) ]>CDO(Collateralized Debt Obligation)
1 e6 h: Y) D. U# b最後去到投資者

Kev

i thought it is the reason of rate of return.
8 k0 R" D( D1 MCDs could have different ratings, AAA -> F,: D# d- h, W' S1 w+ l
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- C6 J9 ?3 @9 x5 m  ?8 m* \+ hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ U9 q2 {1 X9 t/ V9 g5 N3 Jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# e* R/ f% R/ qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 h+ w8 A6 T: e& g( o
similar to bonds, CDs trading in the secondary market have different value at different times," C7 o) i  C7 h1 Z
normally the value is calculated by adding it's principle and interest.
" v% x+ U6 c- a) C0 teg. the value of the mortgage+the interests to be recieved in the future. ' [! n6 S& V5 j8 p1 v' ^0 M
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.
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9 z' X/ U( c7 E* w$ g9 Yim not quite sure if the multiplier effect does really matter in this case.; K. f7 N' e7 t5 U
in stock market, it's the demand and supply pushing the price up/downwards.
# g; g$ Y9 a  I1 T9 X) a. E+ |0 o: IFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# z% S( I+ p- L: e1 BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." Y; J4 U% O6 l* r2 P; K( _; b7 S
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. 4 [) b6 K1 M' U+ M, u* {' C- N6 V
but the value of their assets did really drop significantly.! M( Q5 g: g; P' [( ~5 y

5 X$ I% ~! X5 J6 d, H8 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.gif0 m, K4 |/ d) P  K9 E& X
Refer to last example,
7 N5 C' z. @6 Mthat means bank A have no money because we borrow 10 dollars from bank A
5 v2 `% @3 y0 c' h# Z9 G' I3 R, x( sBecause bank A doesnt have enough cash on hand
9 D( C( `# X  T* P) K' vtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E5 }7 M6 W4 l5 @; ]' G' T
so does it mean if E failed to pay D, " J! e4 y  L; i3 @! t& X) ~5 Q2 P9 {
all the B,C,D,E have to go bankrupt?2 ~+ N4 g& k7 s  ]
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( i$ e( }" {0 O7 W9 B3 L2 R! e  Dthe multiplier just tell how much money created in a whole economy,
% R! k( ^8 T  n2 ]* B8 Xin this case it doesnt really matter how much money is created,
0 L, _( b) L5 {* D6 bit's the problem of the debt itself.
1 `( X% L" `. V# Q$ Fthe 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
" |- G% p& s: y: U/ C  C小弟一直都唔明...' h+ y1 r% R* p3 c+ A" E/ f( @

0 l$ ^% x' O) S4 P6 l8 W全世界都蝕錢，咁邊個賺緊錢呢?" r7 K; X$ P8 C
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無可能淨係有人蝕錢無人賺架嘛...
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) D9 i( Z- W; }6 G7 c+ _敬請各師兄解答( t6 R" j' g  H: e% r/ @
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Thanks

6 G: s/ f8 \0 ?) E那些根本係 紙上財富  8 A; j4 I! |& O" C; J1 p# N
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' Y) Y6 Y* v) m' e9 y. q. y7 X

4 i7 u' L( X5 l8 t3 a) Jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 |8 w3 V; T$ }# {當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& a2 E% m1 c. d3 ^+ D. R9 A% C; r5 ?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  u$ _1 Z1 K0 @- w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% Q  Y+ _% f/ p( S+ f( I7 D
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
- k9 S! @" h6 g9 x  O! F" X計番回報率就已經係50%,所以可以好好賺7 l( }; s# E* g* u( t+ o7 }# L
前提係銀行之間要互相信任先可以咁樣借法: e2 q5 e: d0 }( |- l4 I' r  O
同埋個市場既前境要係好先得
& c3 C  t# N( l+ `但當經濟一差,公司估值趺了,物價不升反趺
$ S6 z* ]. \# W+ D- C; Z9 Z2 n; o  }例如剛才說10蚊的, 趺到得番9蚊,
7 m: L8 G# f3 H& n: `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 x- Y- c6 f: B6 i* Y
所以你就會覺得D錢好似蒸發哂咁
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5 l* k9 A: g9 h6 I$ z# i你都可以當標野咁諗, 個樣野多人可以狂升值, - \1 ]- m. O' B: |$ z
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,
' u. H* U, o" b* k& {3 D3 n. C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: `2 l/ ^6 Q" k  C' N0 A2 }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$ ?& M$ @) c, s- N7 ]
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 p1 ?: G7 e% |( {
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - G6 O& W: w, _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " r  Z2 [$ K2 d; V7 i/ X  k* D
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* B/ ~: L. E9 I# Z5 s
咁你話d錢蒸發左去邊? ...

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9 k+ P5 Q. c8 k. E: @# M3 d正係咁樣
0 P2 w: t0 L2 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. `2 I( c9 U/ _: w" |
分分鐘佢地唔使還錢+ H1 B7 K8 b0 w# }1 ?, g1 O- G
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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 \# v  J+ j; ~: y. ^2 \
連國家都係問人借, 不停發債券, 印鈔票
: l) Y5 f- V7 r! T一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 B) R6 D8 B- k- [4 L) q
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, `3 T! z) z' A8 U
咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ C: F6 {, o& Q其實係...% u2 V5 \4 s3 \3 ~$ A/ F) a
因為以前未生產, 先消費+ ~, J. B5 a7 N. e* E) N( S! G3 l
而家就要多生產, 少消費