0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- U0 X7 c  J* Z, j0 a! z8 \8 xWhy bank will sell 借據給第三者???; |% i' c; e0 y: Q' _
I was so confused.....

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講到尾都係賺錢+ ^3 V" H% P0 l
so銀行可以不斷放款% g) H. Z6 ~& C5 t
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities): `7 f, x! L$ _& x3 @
>arranger8 `1 F3 o" q: B( M
>CDO(Collateralized Debt Obligation)
) J+ Y/ F1 V/ ]- a+ T' ^最後去到投資者

Kev

i thought it is the reason of rate of return.: A2 q) |/ D. n' n
CDs could have different ratings, AAA -> F,
% b  n0 T( S+ Y1 _# E7 Q9 omore risky ones would have higher premium (interest rate) as a compensation for an investment." s/ e: b2 I8 z: e! n
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: \- C7 ]0 G5 \1 r" win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' z( O; s8 w2 x( i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ S" r2 U7 I: @7 k
similar to bonds, CDs trading in the secondary market have different value at different times," q0 j7 O( e  D$ s) X. q
normally the value is calculated by adding it's principle and interest. 1 _0 }  s$ Z4 l& s& S4 k
eg. the value of the mortgage+the interests to be recieved in the future. 2 f6 z1 B0 V' R4 Z
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.+ T7 \' g. c5 A6 d

9 p& n% p  D/ p5 k8 M/ qim not quite sure if the multiplier effect does really matter in this case.
* n1 M: b8 o7 z8 m0 N' V$ u: Gin stock market, it's the demand and supply pushing the price up/downwards.
! k! T, I( |! d- R; CFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" o/ `$ ^4 z0 F6 I- ^A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 }9 v  l) h9 r5 r6 }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.
, T( R: I$ s( `2 _/ x+ P' B& a6 i  `but the value of their assets did really drop significantly.
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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.gif6 D6 S! T3 J9 A9 G9 A" K
Refer to last example,
9 n& X5 G/ \9 s3 E' b9 ?3 H1 R% Kthat means bank A have no money because we borrow 10 dollars from bank A
& F, H+ ?7 x# t/ h3 _  tBecause bank A doesnt have enough cash on hand
" o/ Y9 E- f3 H6 |: h- E; Q+ ?therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 U2 G, w9 @/ Z5 ?4 yA->B->C->D->E6 ~' ]9 n2 ^" }
so does it mean if E failed to pay D,
" Z2 a" Y3 A" e! W4 y) Iall 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,
2 y' V( O) s/ n9 vin this case it doesnt really matter how much money is created, , k, H7 _! {* K; h1 V
it's the problem of the debt itself.+ I% @% e5 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 l) h  R/ J. z. l1 c7 N
小弟一直都唔明...* m8 v5 m6 O( B
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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...  G  `! ?( _8 q3 x! e" k

0 M3 O3 N* z/ _敬請各師兄解答
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4 P: E  c$ z- O2 O# c/ jThanks

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那些根本係 紙上財富  
! `2 Z. M9 p, t" A0 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& a# Y1 @7 \7 Q( e

  a5 n; c1 ]+ s4 V" dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 \1 `) D' f3 v4 {- _) X0 }' d
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 Y. h; d+ z9 R: Z8 Y! n, A# O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* u9 A" F8 ^8 u. B5 v
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦" a+ X* l" ?+ J
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 N: y5 J' T8 w0 y
計番回報率就已經係50%,所以可以好好賺
8 b, {9 H: D; Y: z4 |前提係銀行之間要互相信任先可以咁樣借法$ n6 i5 n; |9 w2 f  A" k
同埋個市場既前境要係好先得
$ C9 v! V1 \4 m, L2 R9 Y7 q! F+ m但當經濟一差,公司估值趺了,物價不升反趺& g1 |) M* I' ~! h  X9 m" J
例如剛才說10蚊的, 趺到得番9蚊,
0 b3 P1 R: {2 O/ K; G8 W  ]# e: h咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& f7 c0 ?) o  d' C* {  C- v  l
所以你就會覺得D錢好似蒸發哂咁& N- e. w" y2 d/ L

* z0 e9 a# t0 {你都可以當標野咁諗, 個樣野多人可以狂升值,
0 ~* J! `) E% R/ G0 o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 K& g! R8 t6 y/ S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / O; M1 Q2 Y2 N3 K, @
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- \& K( v" c6 u4 ]
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
- A+ |/ u) L# v, T7 H! M唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 x8 ^+ f' }8 b0 ?8 y& A- o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " k+ ~) x2 s3 h  G, P, O" I: H
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 C* s; ^, j7 ^* l+ I# {咁你話d錢蒸發左去邊? ...

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2 e$ w  D8 H; M& t- N* A正係咁樣  s3 e6 P7 ]" g
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. S% X# ~. [4 |4 S7 {
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,; U% h2 n1 R; u7 ?7 ?
連國家都係問人借, 不停發債券, 印鈔票
( e7 b" Q4 D% s8 D8 W一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: ~$ e5 Z/ W' o8 ?/ w" l& 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
( p0 k3 C7 `; j, h咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 r! c/ a! y2 Z$ |5 C' \( J其實係...5 Y$ O* I& ]6 Y  ^+ f
因為以前未生產, 先消費. b( g1 S! ]  c" w/ Q2 I/ r+ Q
而家就要多生產, 少消費