0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% X$ P# C( Z4 |( C6 K( @: j
Why bank will sell 借據給第三者???
0 f3 t' T, z. x; yI was so confused.....

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講到尾都係賺錢/ R& i' I9 U/ h, P: Z' U  U
so銀行可以不斷放款$ J" S; F% t* Y; g
美國的房貸問題散佈到全世界  N+ m& U5 c+ |

1 Z) x( O; W3 Y' m9 Tmortgage loan
$ {9 l! K1 f) a* R4 a9 `( b>conduit
9 c. n& m7 \- [  K6 F! o>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)% ^6 u5 A# c7 \/ e
最後去到投資者

Kev

i thought it is the reason of rate of return.1 P4 P$ U- w8 y2 u5 r( v& R3 ~
CDs could have different ratings, AAA -> F,3 A; E; p9 W( _+ C
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 n( z" O; T, D) G6 `) e* Fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 {4 _3 m. ?9 ?0 l1 w" R$ Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 f: ?" h/ p: S7 S& E
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. o8 {( \$ m3 L5 K. J6 z. |
similar to bonds, CDs trading in the secondary market have different value at different times,
' X9 M1 [( {7 ~. ~) gnormally the value is calculated by adding it's principle and interest.
. E7 B- n0 {  H4 v. y- o! neg. the value of the mortgage+the interests to be recieved in the future.
, K& C( R' T' s) Q0 c2 c# y6 Cbanks 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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: `  _: s2 w" C; O0 a& V3 C; zim not quite sure if the multiplier effect does really matter in this case.
/ i6 H0 o4 e. _  n3 ^: A( pin stock market, it's the demand and supply pushing the price up/downwards.
/ C  U+ Z2 V5 t! J) {& h1 pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 y. M/ R& J  D8 [5 w# x- ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ A  `8 O$ H$ z
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. / |/ p7 t6 ^4 u
but the value of their assets did really drop significantly.  J  E8 R+ }# k+ v! \" n; r

! P( r$ m9 n: h5 I4 [. c[ 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.gif4 @2 H7 x( Z+ ~$ S$ Z& i
Refer to last example,
8 I+ t( q0 r% _9 c3 Vthat means bank A have no money because we borrow 10 dollars from bank A
4 |) Y2 G9 x2 t+ j! u% OBecause bank A doesnt have enough cash on hand
1 V3 \" h6 B% s7 X+ wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
6 Q5 j* r; i, Pso does it mean if E failed to pay D,
" T6 U! h, @. W; S! Eall the B,C,D,E have to go bankrupt?
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4 D* @) a) G& g* `0 K# Ythe multiplier just tell how much money created in a whole economy, - l8 C; t" K- Q$ k
in this case it doesnt really matter how much money is created, 6 K2 b6 E2 q# L+ F; _/ d
it's the problem of the debt itself.# q) ^0 E, \* @6 I
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
! @: p- X- X5 @" p9 Y8 ^4 ^% m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 n1 P' l" m# u1 W3 B

$ a* i6 s. m; G! T無可能淨係有人蝕錢無人賺架嘛...
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2 A0 Y3 h" o9 B7 H; L% J4 G敬請各師兄解答4 K) {  V( _2 E! z3 m* ]( S

0 V" q% b# E# o4 m3 k) m& l, uThanks

$ L! f1 w! h' j  `  }那些根本係 紙上財富  ; u! a$ u9 t' T5 U0 |
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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1 ~$ _+ N# Z/ h  rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
% b0 P- H" u0 _- c! S& @8 t. `8 C當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ c+ p3 l7 k6 D0 a+ ?1 u: D. f  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+ }+ S' s4 Y. P8 A# l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 e4 i8 k" k0 V1 m- E2 R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ m" w5 ^, e8 [5 U
計番回報率就已經係50%,所以可以好好賺
: Z& S9 q+ K8 n, H前提係銀行之間要互相信任先可以咁樣借法
9 x  J( [0 U$ V+ Y同埋個市場既前境要係好先得: s- i9 ~' u; r  e2 U4 R3 r
但當經濟一差,公司估值趺了,物價不升反趺3 n$ }! x1 w5 z3 N! U) {9 T) X8 G
例如剛才說10蚊的, 趺到得番9蚊,
* \! e' F0 P$ W" D  M5 \) F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ F: a$ R: j* l5 n) ^8 R所以你就會覺得D錢好似蒸發哂咁
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: |; Q& L! B9 S* |/ i: s5 n你都可以當標野咁諗, 個樣野多人可以狂升值,
! _1 o4 q, x& C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,
! Y9 O; f9 Z* }3 Z- S  z* T3 W. j! y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ D2 H5 Q$ F) U7 u- N- u$ O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
+ x2 I4 X" z' e& R% j) |4 v$ Q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
, P' J) ~7 W. f% V2 m唔係d錢蒸發, 而係比美國佬洗晒未來錢, / z4 m3 H9 \2 C
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* Y+ B2 {0 Q- L, W2 U4 x& C: [* m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' E4 {3 J! Z" X7 C
咁你話d錢蒸發左去邊? ...

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正係咁樣
. y) @6 s1 W+ @& k) W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* `+ W$ ^" l8 e; h
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,
. }0 a& E8 Y( m, j& y連國家都係問人借, 不停發債券, 印鈔票
1 R7 Y8 E3 i6 Y* l4 n9 U一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 U  S, s$ `" q. ]4 m0 Q- }0 `/ c
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  o* [/ ?$ G7 g4 J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ O3 ^5 a9 T5 b. d% d: i% L) f0 i3 T其實係...
/ _+ V  L) Q! Q2 D7 ?因為以前未生產, 先消費
" ~( ?3 s4 P: q  O& H( e而家就要多生產, 少消費