0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& c6 u5 y) X+ l% ]; aWhy bank will sell 借據給第三者???
8 {* H3 f- n4 v% M+ v% \I was so confused.....

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& ]4 V, t1 `% l- ]2 L# @  Z講到尾都係賺錢& S7 @) t- n. ~, p
so銀行可以不斷放款( @: H9 M) |! K% B4 [
美國的房貸問題散佈到全世界
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  C- E- n4 c9 P  A! u# {: Mmortgage loan
  n$ U3 V; X9 T( j>conduit
2 N; f" U% ~: f3 r>RMBS(Residential Mortgage Backed Securities)
/ F' s6 t0 T+ J5 E>arranger$ Z2 A- K& h. A; z: O2 v
>CDO(Collateralized Debt Obligation)  k" T6 i* C$ i2 a$ o
最後去到投資者

Kev

i thought it is the reason of rate of return.
; R- E/ O8 s1 o2 GCDs could have different ratings, AAA -> F,+ E0 [1 d8 ]$ K5 s$ F
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" i* a% z+ v$ h8 K8 E3 Rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. D5 g5 y& a: [( [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 i2 s9 _& A. F2 }5 e
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  H& k6 i- V& O% ?/ usimilar to bonds, CDs trading in the secondary market have different value at different times,0 D. I/ `% m# q1 R( X/ N$ O7 F
normally the value is calculated by adding it's principle and interest. 4 T6 V/ F: L* J$ N3 h
eg. the value of the mortgage+the interests to be recieved in the future. 8 N$ O2 R  S1 |( g( H2 e  w% w
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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, |- Y) e5 B) E2 C8 |im not quite sure if the multiplier effect does really matter in this case.
: r7 x7 [) B/ }1 \# M9 r  gin stock market, it's the demand and supply pushing the price up/downwards.5 X1 f  Z( h9 {0 u+ v2 f# r  F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: g# K/ u  z' x- V  f- e$ n4 oA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# W+ d. g) R% V( X$ b
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. * L+ M7 ?7 q7 n, S
but the value of their assets did really drop significantly.& P- z3 w2 q  t  \& T4 h

& [! T2 ~* f) p# P+ D+ i9 F[ 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.gif1 I, Z2 b+ ]% ~6 M
Refer to last example,
; u) E; X7 O6 \# W0 L8 nthat means bank A have no money because we borrow 10 dollars from bank A ! y/ t9 O; Z" @/ C8 m& y/ R, p
Because bank A doesnt have enough cash on hand 1 H6 k& c# {. J
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E! E- a7 }0 g  {
so does it mean if E failed to pay D, * ?) p9 C& u7 E+ X* X& s
all the B,C,D,E have to go bankrupt?  H/ L. a8 u8 B1 h( q2 i$ I  i
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) m* `! N/ M+ }* o% A: wthe multiplier just tell how much money created in a whole economy,
) k, ^# a+ U6 c. u  zin this case it doesnt really matter how much money is created, + ^8 F* S0 C& t2 N
it's the problem of the debt itself.' j" k9 }# Q* K& {% O+ d' ~. M! [$ `
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.gif2 f& @  C+ @; e4 u- F+ j2 z
小弟一直都唔明...4 T9 z/ Z" ?( Q% T3 B' N: ~8 V3 C

  C/ p' R; s# L& G7 ?9 R全世界都蝕錢，咁邊個賺緊錢呢?! n2 b5 `1 v( t+ ^. l, \

4 a- J$ [5 x5 Q, B6 [$ X  U9 \無可能淨係有人蝕錢無人賺架嘛...  t' z: `0 O, r+ H

% N/ [0 f( E0 ~8 A6 W6 y2 Z" E敬請各師兄解答
6 t: S- a3 b' ~2 q) Q$ r- N) e2 U/ X5 ?
Thanks

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那些根本係 紙上財富  & o' m& o# {, n8 Q1 [! S
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# G3 P4 z9 {! z5 L- Z' a

5 ]! v. O" B- h9 g) m9 y! Yhttp://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 R: C. r9 a# L$ u9 d4 l; Q% T
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 U( M5 T8 W7 `4 I; ~; r: N$ t* h0 }9 J
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0 I- K. \2 u1 f# ~1 m
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ D% Z! n5 v7 F/ h% U扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  J# Z& Z7 J2 J
計番回報率就已經係50%,所以可以好好賺' W# {$ V, u% p; W
前提係銀行之間要互相信任先可以咁樣借法
4 r6 x! m1 O; B同埋個市場既前境要係好先得
9 K" }: q1 g& x, H, p+ |3 S但當經濟一差,公司估值趺了,物價不升反趺
+ L+ v& g+ J: s3 R, }例如剛才說10蚊的, 趺到得番9蚊,
! {3 H) q+ B- y! E8 @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. w: ^. j0 m2 I0 M& h
所以你就會覺得D錢好似蒸發哂咁
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! |$ D' k* B9 t; u8 d, V你都可以當標野咁諗, 個樣野多人可以狂升值,
, I# b4 x, Y( w# L) D, `& j" F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, - g8 R9 E1 P! n8 I' A) \" r5 x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : T9 ?/ }+ h2 v8 ^
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+ A% C6 _  ^7 _4 x2 _# x& c7 A
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
$ W6 u% I) q3 e% t/ \5 d唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' J3 n1 c8 {' s' x3 r$ Z4 c$ V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ P- y0 X2 Z' m, 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" a# C* u" h! h8 T# g3 G' `; U
咁你話d錢蒸發左去邊? ...

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" r7 w) ~8 x+ m正係咁樣! ~& @. I2 o' \& q, Z$ }9 ]* y1 j
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& ]/ b! |8 V0 f
分分鐘佢地唔使還錢
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) x0 o% Z* p4 i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,- O! w+ R! p9 {" K( F- L
連國家都係問人借, 不停發債券, 印鈔票* a  R# }6 o7 F  W6 N5 y
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 M3 ?+ T7 V. p% T! f2 m; ]0 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
, J, f. z9 `! ~# @" Q& m- T/ {. P- m) u咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 _2 p8 S2 C7 c5 _其實係...
6 v2 }  W- \# {6 a因為以前未生產, 先消費  ~+ ?+ h- D2 V8 f+ f: i
而家就要多生產, 少消費