0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" A7 ^) \% G; D( @) c5 f
Why bank will sell 借據給第三者???. w8 p/ T/ d1 \: [- X" T
I was so confused.....

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講到尾都係賺錢4 x7 k/ e1 b5 h+ a2 P2 i  |6 a% R
so銀行可以不斷放款3 U7 r0 T9 P. ]+ n; _; {
美國的房貸問題散佈到全世界: h4 p6 E0 a* i
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)$ R! B/ B" `  J! R
最後去到投資者

Kev

i thought it is the reason of rate of return.% S4 W3 o& ^4 e  A: J
CDs could have different ratings, AAA -> F,0 U% }/ j8 q' v; R9 _; |
more risky ones would have higher premium (interest rate) as a compensation for an investment.  Y! C6 g+ l! f. w$ D1 T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, D- j) {' V$ ^  L7 M: g/ @5 w* ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 O1 K" I( T3 E/ n/ h% s5 PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! J; Z3 P3 X0 T5 d' nsimilar to bonds, CDs trading in the secondary market have different value at different times,) F: D0 U2 h# m- U
normally the value is calculated by adding it's principle and interest.
. K) a7 w* L; a$ x% \0 i, weg. the value of the mortgage+the interests to be recieved in the future.
8 w! A# l( [% l0 kbanks 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.- h% w0 w  [2 O0 J, [/ [9 X
; b7 F  p( v) [( ]4 e, ?
im not quite sure if the multiplier effect does really matter in this case., ^; D' Y6 x* ?; t* |
in stock market, it's the demand and supply pushing the price up/downwards.. V0 Y9 w0 z1 |( T* p3 d( \4 L. ~
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ T! T: @& e2 o: {  TA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; s: g" H3 L$ R$ \# a+ cThe 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.
& j4 x! K5 C* ^; S" v  E( fbut the value of their assets did really drop significantly.! @! I0 [3 v( T$ E+ J9 l! F
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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.gif) |$ a1 L* o) k, H' v1 \% ?
Refer to last example,
+ J9 q2 c# P* \0 F& y/ G, ^that means bank A have no money because we borrow 10 dollars from bank A 3 _+ n5 L0 v( Q6 @" ~
Because bank A doesnt have enough cash on hand
+ f7 \; S  o$ a0 U# Y+ Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
2 ^: ^4 x% H( }2 C1 \; ~0 uso does it mean if E failed to pay D,
7 D+ T  F. g4 t9 M! b: call the B,C,D,E have to go bankrupt?. m4 I- U- k) @4 d  }3 A) f

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the multiplier just tell how much money created in a whole economy, / `0 Q! @. |, q8 O& n# c
in this case it doesnt really matter how much money is created, * b+ Q& ]7 f" c' V( K) r1 R
it's the problem of the debt itself.
. A& D$ F3 n# F/ _" Q* ]; |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
4 u, X! P' {7 G9 ~8 J7 R小弟一直都唔明...
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& e1 B9 _2 T4 s, @全世界都蝕錢，咁邊個賺緊錢呢?! D, i' \1 q" m, e- v! j7 F4 W

7 V  y) X8 @( t6 d( x1 _無可能淨係有人蝕錢無人賺架嘛...6 p9 X: g7 `6 {0 G

6 e4 k6 n$ q6 J( W敬請各師兄解答
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5 Y4 {; r8 |' @Thanks

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那些根本係 紙上財富  6 N5 F% ?! O7 o5 s8 C% Z
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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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
! Y. B& u( |! z' @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! G1 U( k8 n& Y* r& U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+ C! @' R' z( W5 n
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
/ ~* K  y' J* g/ Z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
5 o* ~; o9 g, p& E/ w1 E4 ?; x' G計番回報率就已經係50%,所以可以好好賺- h9 q, v' i7 m$ ^. [2 P
前提係銀行之間要互相信任先可以咁樣借法0 Z- X, L2 K# ?0 u9 T& s
同埋個市場既前境要係好先得* }! D: B( W8 h, z
但當經濟一差,公司估值趺了,物價不升反趺  E+ ~% g4 l) x* ~
例如剛才說10蚊的, 趺到得番9蚊,
, M* E5 u5 H0 Z咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. V4 E$ O, J9 R% w
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, & p9 \* G$ I$ l) C# e. J2 R7 A
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,
7 [. J% L; [0 G# Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % k# s7 q& B8 k8 E: o1 S
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7 k5 I5 ?# e" j8 k1 ?
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
; s+ F4 a" R/ F2 @2 [$ d唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ }" o1 h7 `- A" T. d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 Q) q, K9 ?+ n. H' 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
* U7 V. m% \+ q; n咁你話d錢蒸發左去邊? ...

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正係咁樣
/ N- z# X: U' G+ m% W" C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
$ r" V( _- G0 X7 M0 y0 i- C3 ^分分鐘佢地唔使還錢( N# f) ~5 }* S3 K8 T. @
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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,
& V4 ]6 |) Z* ~) C  r/ h* q連國家都係問人借, 不停發債券, 印鈔票  Q/ g6 o. E" ^7 v1 T" V' A
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 N& ?/ N7 K' P' |) F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
; s! d3 _* Z+ Z, z$ _# v) j) s咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
! d$ U- e/ R; C! R% _5 Y: ]因為以前未生產, 先消費
6 f0 ?4 Y) y# I' Z) f而家就要多生產, 少消費