0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 g8 b1 @( l2 f# s! z) VWhy bank will sell 借據給第三者???
# |8 C8 S0 d; w% w* [' [I was so confused.....

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講到尾都係賺錢, L/ j# K0 t8 I$ b' Z
so銀行可以不斷放款
) u1 Z( n6 _3 {6 T$ t美國的房貸問題散佈到全世界* E* H  V( C3 O

) V/ ~2 Z* g1 h$ ymortgage loan
4 ?, e$ r+ l* k# L' k6 {' R$ X1 b! i>conduit) Z, o+ `# [" X0 s/ R2 X7 i
>RMBS(Residential Mortgage Backed Securities)
" k3 I+ P8 g& S9 t* E>arranger
0 O8 {  J7 O, D6 G0 g>CDO(Collateralized Debt Obligation)
6 m* M1 j/ ]2 L1 O- F最後去到投資者

Kev

i thought it is the reason of rate of return.% b8 q# v" g) ^- N5 U0 E9 X" J* @7 i
CDs could have different ratings, AAA -> F,# M! ]/ i' t) O/ |
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ m+ l6 _: U) ?# _, n% ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' T1 I. o' a+ k
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& q0 Y% ]. N6 J8 W& z" h3 u  G0 E
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 G7 r  [+ e& i( G+ L1 x
similar to bonds, CDs trading in the secondary market have different value at different times,4 r! O  M6 i! @/ M, o- f  K# z
normally the value is calculated by adding it's principle and interest.
# ^% r, k" v9 u4 C0 C( c9 [eg. the value of the mortgage+the interests to be recieved in the future.
( C& y: C( A4 A- N7 @% ^  L; Gbanks 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.; p% b- P8 e( z8 H- g6 c

3 M" ], l' r* [im not quite sure if the multiplier effect does really matter in this case.
. |2 G; ^6 A5 }* Iin stock market, it's the demand and supply pushing the price up/downwards.2 A% u1 n. R8 [: H
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 j0 V4 a3 B5 E9 N1 CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. {7 a- j5 l3 ^( k4 y5 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.
$ Y+ r3 c  ~6 _; |$ @& Jbut the value of their assets did really drop significantly.  n0 E6 N+ ?* G2 R# u9 N( r0 P

! j6 [! b) w2 n' P# B+ \[ 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.gif5 Y. d$ c' [6 Z. t1 j
Refer to last example,
5 m- `! O7 P' J# i4 u% K8 C# Lthat means bank A have no money because we borrow 10 dollars from bank A
, n  Z& R: W  Z( h5 J" ?Because bank A doesnt have enough cash on hand * B9 Y# {3 T0 [% f% w4 _# B9 C
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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; }) D$ n0 `. D& M$ TA->B->C->D->E* a6 s$ N) z" b" B3 s* k8 W
so does it mean if E failed to pay D,
3 e& c- p% e8 P1 v' D0 Y; M$ }all the B,C,D,E have to go bankrupt?
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  m/ |' X( g+ a* V6 Athe multiplier just tell how much money created in a whole economy,   l9 V  O! y# \& v! ^  Y- u# |
in this case it doesnt really matter how much money is created, ) ]8 p0 ]. {# G$ A, J
it's the problem of the debt itself., m2 _* _! V& 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.gif8 f, O0 C! K+ h  I. O' C* A" y- ]7 p
小弟一直都唔明...
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) t9 e! d, f, z( o全世界都蝕錢，咁邊個賺緊錢呢?6 @( ^& z1 }$ t6 j

! w) f/ O% X, f, }0 R' l. E無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答: U/ y( }7 Z% ^, u2 c
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Thanks

* r/ F$ R& V' r6 i1 W那些根本係 紙上財富  
- p  P: v2 b& \4 G2 k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 graphic4 H- Z/ T: G2 M8 n

5 ?* V$ j8 W4 Z" r& E! V1 O2 ?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9 x" y. o7 M3 _% ?, l' J1 z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( n! A+ q* o) G" e2 Z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* y# d4 j4 E4 O5 d8 b( @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% Y( j- T, T) c' x; e/ X
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ w' w% O4 x& g計番回報率就已經係50%,所以可以好好賺% b6 d0 h5 x: r7 w/ U
前提係銀行之間要互相信任先可以咁樣借法
. O5 ^4 Q; O% g9 U& \同埋個市場既前境要係好先得
; p( p& e- ?. S6 ?但當經濟一差,公司估值趺了,物價不升反趺
7 a/ P% D( C9 V! I例如剛才說10蚊的, 趺到得番9蚊, 7 b  }( j8 T6 V) E4 w, O% l; j
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ I- |7 B; r& t9 \1 c4 E  V所以你就會覺得D錢好似蒸發哂咁+ p7 a, ]0 d. ]+ M( Z0 x
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( `% K6 x+ I) x  Y( R: }. Y
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, ) h1 d* o2 z$ [' q0 X* n  y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " {& r& g  g1 \) U1 ~
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
3 b6 t4 T4 h& N" U, \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
0 Q' W( t9 C+ t1 D% `唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; ~4 K, ~' a! Z' F+ n7 f8 s% a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; T. R" }2 r$ X- H
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+ y  I/ z9 K0 {9 N# {4 R0 k8 ?
咁你話d錢蒸發左去邊? ...

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( _! K9 v" t! `9 }正係咁樣% J! j4 z0 g. _) W5 s# L
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
1 \! V% p" C' R( Q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,
& o& B8 [) h' M; I7 a連國家都係問人借, 不停發債券, 印鈔票' S7 N5 K; j: G% S- C5 }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. b; D) S0 d' |7 [) S. l+ Q# ^" G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.gif7 M. N' a: N' }( J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 q" k8 X6 o; b5 V2 ~) _/ T4 Y; s1 D其實係...9 O9 ^( _8 J6 @; a
因為以前未生產, 先消費8 e% w' f8 b; S# h- {4 ?6 s
而家就要多生產, 少消費