0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' S8 S- o- J5 q$ d
Why bank will sell 借據給第三者???# I# a- i4 d7 e
I was so confused.....

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1 Q4 }5 s- [1 m- ]) d講到尾都係賺錢+ y: ~- B# S/ l
so銀行可以不斷放款
* L# Z( W+ o' v* G7 F6 B美國的房貸問題散佈到全世界
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# N, q% a, q. u$ ^mortgage loan : F' A/ K; y- ]
>conduit
) _9 M+ I% H5 f  `>RMBS(Residential Mortgage Backed Securities)
& J- \' a) P3 [! h7 a. \>arranger  {# d8 X$ b* p* n( `# G
>CDO(Collateralized Debt Obligation)
3 {. `; ]: t" S最後去到投資者

Kev

i thought it is the reason of rate of return.
8 g( w  h( u5 x, U/ E' M+ VCDs could have different ratings, AAA -> F,1 F7 {# G8 G( j' {. p* N4 I3 y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 m, L  I# @0 O, M* b, Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' J6 b* j+ ~' u/ M! V9 |1 ]5 Oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 s) X5 U* r( d5 k, [7 r- g! pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' K: j) B1 U4 X: ]7 ~9 I3 ^similar to bonds, CDs trading in the secondary market have different value at different times,
7 S, l* F+ f, k0 anormally the value is calculated by adding it's principle and interest. ( ?" }  _; r% M5 c
eg. the value of the mortgage+the interests to be recieved in the future.
* n7 q( @( g& p. {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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0 {! N0 b' H5 e; Cim not quite sure if the multiplier effect does really matter in this case.7 W" W" F- b. o3 y( f
in stock market, it's the demand and supply pushing the price up/downwards.
; P, r* h, j$ s& p. y! ~2 {6 UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ V) X$ b& K# v( k6 X/ w/ |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 B2 J8 N! b; L' e! P
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. + x& T) Y6 I) O3 _9 Y; p3 G
but the value of their assets did really drop significantly.
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  D& c6 n& f, s+ v- z[ 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
. H4 u4 b( y3 XRefer to last example,
" f3 ~* ?# P. P% r0 S/ D% U. H+ D0 g0 Nthat means bank A have no money because we borrow 10 dollars from bank A
  U$ D4 G0 M0 i/ m7 DBecause bank A doesnt have enough cash on hand & z+ Z% [- \8 p! X. S& \
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E. V/ l4 I' e# B. y' Y7 l+ x# ?
so does it mean if E failed to pay D,
1 r6 B6 e3 N$ M) x  Yall the B,C,D,E have to go bankrupt?
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& ~6 }5 J, A0 I) W$ K: i3 W* ^. l! X1 _, F: d
the multiplier just tell how much money created in a whole economy, 5 T0 W3 B$ u% T/ k  @
in this case it doesnt really matter how much money is created, . k" Y- i6 M. J0 D
it's the problem of the debt itself.) C9 j* f8 R/ S9 R8 a( H" W
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.gif5 E* N& G: N8 S1 w; {) E
小弟一直都唔明...' H* P" Z7 f  Z% K% A/ |

: o- o9 ]: z. K" A, I, ?全世界都蝕錢，咁邊個賺緊錢呢?
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6 E' }; d. h, z) k! n無可能淨係有人蝕錢無人賺架嘛...! X  q1 ~" u8 Z3 _6 t
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敬請各師兄解答: z4 t' o. K; L, y+ e

  i& |4 J4 d" EThanks

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那些根本係 紙上財富  & f  ?& Z% R& @6 e% 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 graphic5 Q( ?: J! X6 s$ v

9 Y0 Y2 s# G8 c7 ]4 zhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
! B$ S) b' {( |2 Y: s當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- B- k8 V/ E; A  J3 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9 c( {- Z. ]2 S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ P) _9 a* A% H扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ L7 I3 W  X* Q, t1 l計番回報率就已經係50%,所以可以好好賺# H  R: w/ b) d+ A4 b" e; m
前提係銀行之間要互相信任先可以咁樣借法
" l! S# u& H& J2 H0 `1 ^. n同埋個市場既前境要係好先得$ m: R; t. @$ f- l) }% ?
但當經濟一差,公司估值趺了,物價不升反趺% E. V3 }& B4 e7 N' O7 A& X
例如剛才說10蚊的, 趺到得番9蚊, 2 c0 p( E7 m% \* l
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%3 A5 P: w9 c( u" a
所以你就會覺得D錢好似蒸發哂咁5 |: |$ o( X1 f# M
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你都可以當標野咁諗, 個樣野多人可以狂升值, 4 L3 |. p" L3 y% L
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 t: Z/ C# d/ v) [' e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + T5 H# R9 N* 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8 F& k: d4 y  C. P' b! m2 g, C
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+ h, [/ X  j# b
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( N2 z& D  x( p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , P. b% S$ `  p1 K+ d# R9 }
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
8 \$ W. {3 j8 ^1 M咁你話d錢蒸發左去邊? ...

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- s- y0 o# |; ^) I$ A2 f正係咁樣4 i* R4 d  }  P0 `
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 S4 ]# n$ i7 _  Y/ b# k/ i+ s, a
分分鐘佢地唔使還錢
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* R6 g* Q9 @* L# _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,/ x+ m  y9 x% q, l. z4 Y  b- [
連國家都係問人借, 不停發債券, 印鈔票
- u6 G* p7 Q  u$ a" p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# \% P( a5 q( F6 ]
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
8 u- J6 l. l, J. H; J咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) t* Q" p7 k- Y8 Z) f+ |
因為以前未生產, 先消費
4 a" l1 a2 j% V而家就要多生產, 少消費