0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- Q# f$ B3 V6 c, Z) q7 U# `- ]
Why bank will sell 借據給第三者???
6 e  }2 Y. X4 s5 n6 u! KI was so confused.....

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講到尾都係賺錢# k% b7 t) D# I- b5 p  c' P8 F0 i, Y
so銀行可以不斷放款
0 k2 F. b8 R3 d) X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)
, x' D. M7 p" b2 l# f2 @5 E: e5 ], ]>arranger5 @5 X$ A' i3 N! W; o% }
>CDO(Collateralized Debt Obligation)
" l8 d: P  j  C& Z/ |8 J最後去到投資者

Kev

i thought it is the reason of rate of return.
. ^/ j, ]0 q( L2 C+ P, T5 uCDs could have different ratings, AAA -> F,
2 T2 b2 `5 D- e. U# _more risky ones would have higher premium (interest rate) as a compensation for an investment.1 i! [8 t0 l; R' Y# H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( |" I( Z, _/ ^) D5 F( Lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) d8 d% E* ?% G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 f  U/ u6 {2 g. c0 Asimilar to bonds, CDs trading in the secondary market have different value at different times,  K/ h  c  O6 r& k% ~3 ?: w
normally the value is calculated by adding it's principle and interest. ) i2 s$ t& Q2 u# T1 K$ ?$ l
eg. the value of the mortgage+the interests to be recieved in the future. 0 x' u2 w, w3 I0 h
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.' W7 I, ~5 r9 R% O

" R2 _; F* Y4 \6 n: kim not quite sure if the multiplier effect does really matter in this case.
9 q" N# w$ A9 ^4 r- xin stock market, it's the demand and supply pushing the price up/downwards.: ^5 j8 M* R. T; h: V% b9 s
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 G$ B- X1 i* m& R3 N! `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' x0 V* c2 w  ^# b* A. PThe 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 a3 t3 _  g# e! S& ^
but the value of their assets did really drop significantly.
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# D6 h& ~$ I/ p3 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.gif
4 K% \" |  O) [7 k6 _Refer to last example,
/ c4 |. d" d+ ~/ x7 ~8 l9 gthat means bank A have no money because we borrow 10 dollars from bank A : \- s) _" o, I/ o
Because bank A doesnt have enough cash on hand 0 ?0 J, K! x$ I( I6 w6 z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E' u9 Y% \1 A4 B( Y! H' v$ A* P
so does it mean if E failed to pay D, 1 O4 ^) q6 q# E* D, a2 R, Z6 \
all the B,C,D,E have to go bankrupt?" q9 \: k) ]1 T4 g( {& F7 Z
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the multiplier just tell how much money created in a whole economy,
# j4 C0 q8 p. Lin this case it doesnt really matter how much money is created,
( a3 J0 Q# M7 N* Rit's the problem of the debt itself.
+ S6 d; C& i( B% V( {$ ~: o# n4 v  ?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.gif/ k: v- {& j+ n$ O/ @) n
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?8 T. t% O3 W) M
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無可能淨係有人蝕錢無人賺架嘛...
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* T4 ?5 H- }" I; s4 z' m* b敬請各師兄解答% Y' C2 F0 ]3 u% J5 w, G7 I+ Z

6 C0 t" I0 f. W" d5 xThanks

* E, q" S& b- e4 E那些根本係 紙上財富  
6 y+ [# S3 I; S; \; W; o. z9 B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 graphic7 a) H! S( |& ^# y; X
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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/ K6 X+ n& m" v
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* w! e7 M$ _; b6 X( Z) }3 A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
9 F( W0 M# d, C! j* \& ^/ U個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ s+ J3 V! ?* x% u) U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 f" ~# [) i7 V5 H6 [& V
計番回報率就已經係50%,所以可以好好賺
& \# k, G) _5 W前提係銀行之間要互相信任先可以咁樣借法' O! h8 g9 c0 m. s
同埋個市場既前境要係好先得- P% D4 T, }$ p& {6 X( ?/ z
但當經濟一差,公司估值趺了,物價不升反趺
" E. O$ P7 k+ \: j0 a& \, A" ?例如剛才說10蚊的, 趺到得番9蚊, : r/ M' F/ }+ V+ H! \
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% m- t$ r$ J" M7 K所以你就會覺得D錢好似蒸發哂咁# K' E- [: f" {7 F5 a

' H) \$ i7 R- c0 {4 Q& b你都可以當標野咁諗, 個樣野多人可以狂升值,
: a0 D* a1 F" X; x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& K9 |4 Q+ r5 X% u  y( ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " n6 l4 o  O; U
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; |" f" T9 }! k1 S
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.gif7 ^4 B: g$ _/ w! o
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  _' }3 H. s( T! J/ K淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 p' ]4 g' p( j  @( h% Z6 x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+ j/ `) }* E: O) c. b' y
咁你話d錢蒸發左去邊? ...

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正係咁樣
- S9 d; c) d) g% D% s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
% J2 W9 k  \0 R0 q' b5 f- i分分鐘佢地唔使還錢4 r. Z3 S$ q9 t( W0 F: R
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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,
" n) P, R, }$ J/ E. L1 p連國家都係問人借, 不停發債券, 印鈔票6 E! \$ X- s- S5 O- ?
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, I) X) ^9 O) t2 W9 |% l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 b1 X- V! }  }咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& @9 B( ?' x; Q: D因為以前未生產, 先消費8 @7 ?" ?( i, l# ]! L% X. l5 u
而家就要多生產, 少消費