0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, ?1 p1 h. F6 p! pWhy bank will sell 借據給第三者???2 d2 ]5 K( w  u! w) L- t
I was so confused.....

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講到尾都係賺錢
- \; `8 \3 G$ P' `so銀行可以不斷放款
  s+ o# T4 Z/ I5 n- J/ g美國的房貸問題散佈到全世界
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6 {/ U& o, T' N! Z; ~1 Nmortgage loan 1 q8 ?  |4 k1 H, l8 {  z' M7 f
>conduit3 t: F1 v& m& V* Y7 Q' o3 t
>RMBS(Residential Mortgage Backed Securities)3 B4 n/ ?& T# a3 z2 c9 X
>arranger7 q( u# s; q) y8 C
>CDO(Collateralized Debt Obligation)
9 a" `/ X' d6 U# ]* [& p" |- b最後去到投資者

Kev

i thought it is the reason of rate of return.
# K6 J1 O  ?" K4 wCDs could have different ratings, AAA -> F,$ Q* d& ^) N* H: S
more risky ones would have higher premium (interest rate) as a compensation for an investment.: c0 x$ s3 b; C- c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- _% l7 ?& j! O# d: B8 F- gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: g0 }; t- U. \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 y9 i0 T+ O/ [5 E0 B2 x
similar to bonds, CDs trading in the secondary market have different value at different times,( r3 B% H, o; a4 k( }! ]- J& y4 M
normally the value is calculated by adding it's principle and interest.
' ?+ Q2 q% c$ p' y+ V. g( veg. the value of the mortgage+the interests to be recieved in the future.
! x' g! ]7 E5 ?/ C: sbanks 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.
3 x+ R8 g6 ^) g0 e7 F& ]in stock market, it's the demand and supply pushing the price up/downwards.
6 o1 h/ ~0 o/ T& v; KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( `2 r- x' V! ~; F9 U8 D* ~7 CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 y: r, Z8 ?$ i: ?8 W* Q0 l: C
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. 2 V, I! v0 H+ }, j8 ]. v' n5 W
but the value of their assets did really drop significantly./ q4 [5 ^- ^6 b& j3 k
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[ 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
+ r$ _' X! e2 G) j/ j' MRefer to last example,
# |7 }' s8 o/ L; N5 y( }& Fthat means bank A have no money because we borrow 10 dollars from bank A ) L% E/ H3 m- E( W8 e# L
Because bank A doesnt have enough cash on hand 8 ~  A& M% F3 I( z' Z, a
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 ?& d, w- T" t! Q7 wA->B->C->D->E% `* v3 M$ P7 n! ]
so does it mean if E failed to pay D, 3 v) e) k9 f, C' q6 U* j) ^
all the B,C,D,E have to go bankrupt?$ h* N9 \& D% }* \
# W* G/ g( G* q1 [. p! D! O

4 P% a. L% M% a  athe multiplier just tell how much money created in a whole economy, 2 R9 `* Z. d0 K& H
in this case it doesnt really matter how much money is created,
6 z6 n; x2 P0 w6 t( ]5 Rit's the problem of the debt itself.
' e1 u* X; Z+ ^! Dthe 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.gif3 a: c. p- d! `, M( x
小弟一直都唔明...+ \$ ]7 j4 b' I2 V
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛.... O( C9 T& Z% G% O8 A9 S
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  - y" w3 F1 v5 O5 ~+ v4 x- ?
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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$ ~  ~7 [! M8 x: P. [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
7 B. M+ v2 x4 s當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& O9 O* L9 j' B5 a6 ?5 u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
3 \+ D/ S; `* B) e" c& A4 k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 V0 k+ I' j( p% f' n, G
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 m" @3 Z# U1 F+ j6 q  R計番回報率就已經係50%,所以可以好好賺* t" P) ]2 T& v! }% S8 b, f
前提係銀行之間要互相信任先可以咁樣借法
, o  R4 p5 @$ X& v. }同埋個市場既前境要係好先得
0 y' h8 Z1 Z. C6 }7 i但當經濟一差,公司估值趺了,物價不升反趺
) Y" a, t" s. z% S7 S; z" r2 k: n. V例如剛才說10蚊的, 趺到得番9蚊, $ S% o, I$ d: j8 Y6 C& ~4 q) m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- R3 g  ]8 z8 z: J7 Y+ {( r. z
所以你就會覺得D錢好似蒸發哂咁
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+ A( ~0 J6 B% z  W- N) z( ]4 O/ p  Z你都可以當標野咁諗, 個樣野多人可以狂升值,
* E+ o( V, B7 {" {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, 9 s- a% g+ o; @) p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ ^8 W! ^* b1 h; Y: |; S9 t" \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0 R1 e5 u& H+ K; J5 J; a7 @: N$ P
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* x0 S) X1 Q# h
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 g- y% v0 S1 j  \2 c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , Q" u, z8 ?, y# e& W! |
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 K' n8 }' o" W; `6 U4 W
咁你話d錢蒸發左去邊? ...

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正係咁樣* c- Q% j# g" ]6 E0 h: 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6 d8 p9 Y, K' ]; c0 x
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,& |# w: S! h! u  T/ v4 v
連國家都係問人借, 不停發債券, 印鈔票/ l+ [3 `9 ~1 N' R! |( w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: r4 O# b3 k8 O  n& @  M" b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 z, n, n3 l! @; p) U, ^咁而家"爆哂煲"算唔算先至係變番"正常"???

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' ]4 R' @% q) ]+ T+ n) Q, w* \其實係...
, }, C: i9 d- X/ c因為以前未生產, 先消費
/ _' {+ c3 P8 ^8 |3 k9 p而家就要多生產, 少消費