0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( Y- ?9 e+ F: yWhy bank will sell 借據給第三者???
2 \0 N4 F7 |' q) b8 i& [I was so confused.....

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講到尾都係賺錢+ ?5 [& V+ H% X9 D
so銀行可以不斷放款
4 h; Y9 `# }- M% k8 d: Q- j( B美國的房貸問題散佈到全世界7 n1 N$ K' Q1 \* X) R# a7 `7 {3 t
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
7 Y' l) ]) b5 s" u7 r>arranger
1 a3 F( t# g+ v$ C$ S>CDO(Collateralized Debt Obligation)9 }( W4 z( q* R5 S5 w5 u
最後去到投資者

Kev

i thought it is the reason of rate of return.$ H% B( Z# d+ X0 K& \
CDs could have different ratings, AAA -> F,. {2 b1 K* J3 p
more risky ones would have higher premium (interest rate) as a compensation for an investment.
% d5 Y# k" [, {4 R. Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& m$ A5 [/ A! a* e8 o: H5 x; S' y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# x& j: O* m& Z* u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 C9 {% X! I$ |* C2 U  s5 j; dsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 i$ }, n. t/ n. P. a2 J4 n/ Jnormally the value is calculated by adding it's principle and interest. + T9 _7 ?% B5 Q$ I% R3 z
eg. the value of the mortgage+the interests to be recieved in the future. 3 s0 s7 p( u! E9 i* R
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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! z- O+ @4 D: o7 [im not quite sure if the multiplier effect does really matter in this case.
  Y2 L+ Q) ~: Y* nin stock market, it's the demand and supply pushing the price up/downwards.7 U6 K# v. V6 b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 f# @9 J" @" _0 z* k0 E1 Y; l4 s$ qA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ [1 q: ^6 a1 w/ ?6 S  L
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.
  I' {. ?5 q8 Tbut 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.gif1 c. p. k' j$ E! J4 P/ ~' k& F
Refer to last example,
8 _# T  ?9 f1 q3 vthat means bank A have no money because we borrow 10 dollars from bank A ! s2 G7 }3 j* y4 I0 Z9 O
Because bank A doesnt have enough cash on hand
" ~6 l) b9 Z7 d! jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  E  W, D/ c0 W# [A->B->C->D->E
2 C3 O5 r+ o$ E1 [( iso does it mean if E failed to pay D,
; x5 E6 l- t( o/ S5 ~! Kall the B,C,D,E have to go bankrupt?/ X' j, @3 X, K
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the multiplier just tell how much money created in a whole economy,
* k! [+ P1 {% ^& a* V: x: N6 Jin this case it doesnt really matter how much money is created,
1 w$ n  f% |( @) t' ait's the problem of the debt itself./ O7 A3 d& C% n  @, j1 M- n
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" E) n5 b3 Q7 k: I& T% n8 I( c  f
小弟一直都唔明...; ?9 D# M4 g- V
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全世界都蝕錢，咁邊個賺緊錢呢?
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* m: m1 X% c. g' Q% p* E無可能淨係有人蝕錢無人賺架嘛...+ g. H0 S7 _, @( W3 P5 M
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敬請各師兄解答# N. ]) r* h( K  B5 s5 e
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Thanks

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那些根本係 紙上財富  ) Y% c  m% w" r7 ~0 y+ o
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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+ I1 R/ d8 C+ l: M3 Q2 |" Mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產/ z; n* @9 o5 n' D" `# _* n. G
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, v% A- j" e5 Q! W$ L% V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3 Z4 H( y9 U" w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 F2 M0 S# f  W; e& i$ g  ]扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) {4 L8 s* U/ S& _. m. ~計番回報率就已經係50%,所以可以好好賺5 N& f5 i% y6 F# m$ i( y" f
前提係銀行之間要互相信任先可以咁樣借法
2 {: y* e% i( t同埋個市場既前境要係好先得: l, t6 K; z: p- b2 |
但當經濟一差,公司估值趺了,物價不升反趺7 N8 e+ B2 P2 H# y# w
例如剛才說10蚊的, 趺到得番9蚊,
) O8 J4 f" E1 K! c5 v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 e$ P, H+ ?, S$ ^, b, i, I. k所以你就會覺得D錢好似蒸發哂咁" i, P" x- U! ?+ J" @: ~! {. ?
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你都可以當標野咁諗, 個樣野多人可以狂升值,
7 u& J! Q# [2 ~, h3 [4 ]0 r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,
- P" n! h3 T* f1 N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, ?9 `( p4 S2 l" {0 r% P- b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) B* ~# E% d' N: E# 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.gif9 C% f  @: A; R, w8 e+ u
唔係d錢蒸發, 而係比美國佬洗晒未來錢, - k4 G) `3 e! |6 _3 w5 J0 z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  p2 [: d7 F7 o- E1 f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
: W, E% i2 H# f) M9 G咁你話d錢蒸發左去邊? ...

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# v9 q8 ~% r/ h4 D正係咁樣
! g4 I" i- I& S5 Z9 M% ]7 V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 L! x. b* k4 B1 q( \  T  d3 s
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,2 H  z5 T! K3 C! A/ O) W+ @
連國家都係問人借, 不停發債券, 印鈔票% T6 d3 r* X5 D6 q( G& a8 J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( K+ F( Y5 a3 h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+ u2 M2 }4 K$ m9 k* P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...& I+ h* k  O: B9 L7 U
因為以前未生產, 先消費
  k# G4 R+ }' S% J# ?' }& ]7 [而家就要多生產, 少消費